Human Capital Analytics: Harness Data to Power Business Performance
Fewer than 20% of business leaders say that their companies' business units apply data to decision-making. In contrast, high-performance organizations achieve consistently strong results by leveraging the power of human capital analytics.
In the latest edition of i4cp's executive thinksheet series From Now to Next, available as a complimentary download, Dr. Laurie Bassi offers her insights on human capital analytics and explains how high-performance companies effectively apply that data to drive actionable business strategies.
Dr. Bassi is a globally recognized expert in human capital analytics and the founder and CEO of McBassi & Company--a leading-edge firm that employs behavioral economics to improve organizational performance. A former professor of economics and public policy at Georgetown, Dr. Bassi is the award-winning author of multiple books, including HR Analytics Handbook and Good Company: Business Success in the Worthiness Era.
In her exclusive interview with i4cp, Dr. Bassi argues that companies that equate human capital analytics with predicting turnover are overlooking compelling business issues that can be improved through analytics, such as productivity, customer service, cost control, profitability, safety, and managerial effectiveness.
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Dr. Bassi advises leaders to begin with a specific business goal in mind and work backward to create an "analytics enhanced measurement and reporting system" that can be used to manage human capital risk. Other topics she addresses include:
- Analytics champions--vital partners in effective implementation
- Considerations Chief HR Officers might be missing
- Simple steps to analytics success
- Human capital analytics in the next decade
Ramp up your understanding of human capital analytics to drive better performance in your organization today.