Nearing the end of 2014 and heading into 2015, we’re now firmly entrenched in an era in which widespread technology and the availability of data are changing just about everything in business.
Now that professionals of all kinds can so easily access relevant information about their trade with just the click of a mouse, this capability is making a profound difference with everyone.
While most HR professionals still don’t quite understand Big Data, advanced analytics are clearly making their mark in human capital management. Read more…
Editor’s Note: Readers frequently ask about past TLNT articles. That’s why we republish a Classic TLNT post every Friday.
Don’t kid yourself – you hate analytics.
It wouldn’t be politically correct to say that you hate analytics, so you won’t. That’s why I’m here.
You hate analytics because using them in your organization increases accountability. Read more…
Scattered about the Internet is a treasure trove of data, and more and more, it’s being used to manage people.
Big data might be unstructured and unwieldy to many, and there are reasons for that perception.
It’s collected from a variety of public and private sources — as well as internal and external means — so it takes focus and dedication to curate and manage it. But effectively analyzing this data can provide you with the tools for success.
Perhaps one of the better-known examples of this practice can be found in the Oakland Athletics baseball team. General Manager Billy Beane hired “quants” to analyze the performance of potential recruits. The data was so powerful that it turned the team into a winner, as described in the book and movie Moneyball, but this method certainly isn’t limited to the baseball field. Read more…
HR leaders beware! There’s a new M&A in town … and it’s coming your way.
M&A is the hot acronym on the street, but it doesn’t mean what you think it does – not anymore.
Move over Mergers and Acquisitions. Meet your new friend – Metrics and Analytics.
Just like the hottest fashion, the latest technology or the coolest song, Metrics and Analytics has risen to the top of the charts and is the hottest topic of the day. However, the question is this: Is HR adequately prepared for the Metrics and Analytics wave? Read more…
First of two parts
When you survey the most frequent users of analytics and metrics in the corporate world, not surprisingly, you find that HR ranks at the very bottom.
Compared to finance, which is ranked No. 1, human resources compares poorly with only half of its functions being classified as advanced users and three times more HR functions are classified as non-users.
HR shouldn’t be surprised to learn that the executive team came in No. 2 because they (along with finance) are at the forefront of demanding more metrics and analytics from HR. The remaining business functions, operations, R&D, marketing, and sales all had a higher percentage of advanced metrics users than HR in this excellent 2013 AMA/i4cp study. Read more…
Second of two parts
No discussion of “the new HR” can get very far without running into the business buzzword of the last year: Big Data.
The ability of technology to bring together huge volumes of information from a variety of sources means we can now tackle problems and provide forecasts that would have been too labor intensive to produce just a few years ago. When it comes to Human Resources, that means better workforce planning, better talent management and quicker ability to adapt to changing markets.
So, is your HR team ready? Read more…
Big Data has been permeating into the lexicon of every aspect of company strategy over the past few years, and 2013 proved to be the “Moneyball Moment,” as the spotlight turned to how data science is changing recruitment.
Last year brought recruitment managers a suite of data-driven panaceas, from semantic search to predictive analytics, along with a host of case studies analysing the effectiveness of calculated hiring decisions, such as Google’s now famous data-driven interview process.
So how is this cambrian explosion of “next-big-things” in Big Data hiring spilling over into 2014, and what talent acquisition strategies are coming into the spotlight? Read more…
Data, specifically good data, drives successful companies.
I call out the obvious with “good data” because a great deal of superfluous and even bad data floats around any company. As analysts often say, “correlation does not equal causation,” but correlation can reveal interesting insights if interpreted through the correct lens.
Discerning the good from the bad, however, is the real trick, especially in this era of big data. Read more…
All the great new analytics tools work from the assumption that we have clean data.
Even when we just do a simple analysis, such as “employees by location,” we are presuming that all the data has been input, that it is accurate, and there are no duplicates.
As it turns out, much of HR’s data is pretty bad. Read more…