Leveraging HR Analytics and Data
Gain a deeper understanding of your workforce and improve the quality and credibility of HR organisational insight and decision-making, with this two day course.
Employee salaries and HR programmes frequently account for close to half of many organisations operating expenses. One reason for this high level of investment is the recognition that people are the ultimate source of innovation and competitive advantage. In order to leverage maximum employee value and potential, many leading organisations are turning to human capital analytics to gain a deeper understanding of their workforces, and improve the quality and credibility of HR decision-making.
This two-day programme run by leading HR analytics experts provides an in-depth introduction to HR analytics and enables you to develop the skills to initiate a human capital analytics journey by providing tools and methods for:
- Linking HR and business strategies
- Assessing organisational readiness for analytics initiatives
- Building the business case for analytics
- Demonstrating the credibility and value added by HR
- Using analytical insights to improve talent management processes
- Defining the roles, capabilities, and structures required to maximise analytics effectiveness.
No prior knowledge or understanding of HR analytics is required. And, with group sizes fo no more than 16, you'll be able to interact with like-minded colleagues from a range of organisations, and focus on developing your own knowledge, skills and understanding in this area. The small group size also allows you to focus on your business, and understand the steps you can take to embed analytics in your workplace. By the end of the course, you'll be in the position to initiate a human capital metrics journey that will help to improve the quality and credibility of your HR decision-making through HR data, metrics and analytics.
By the end of this course, you will be able to:
- Define human capital analytics
- Understand the importance of HR analytics as an evidence-based decision-making tool
- Describe the most common human capital strategies used by organisations
- Describe the evolution of HR analytics
- Describe a typical analytical process used to measure the impact of HR programmes on organisational outcomes
- Explain the accountability of HR in the context of human capital analytics
- Explain the importance of valuing human capital
- Explain the changing accountability of HR in the context of human capital analytics
- Learn how to assess an organisation’s readiness to implement a human capital analytics initiative
- Understand the criteria for selecting between strategic and tactical analytics initiatives
- Understand the steps required to implement human capital analytics
- Measure the value of a learning and development programme.
Day One: Adopting an analytics mindset
Day one provides participants with the background knowledge required for successful implementation of human capital analytics projects.
**Introduction and course overview
State-of-the-art analytics: where are we today?**
This section examines current best practices in human capital metrics.
The value of human capital
This section introduces the following concepts:
- Why it is key to assign financial values to both your workforce and HR activities
- The concept of people (rather than technology or capital) as the last refuge of competitive advantage
- The fundamental human capital mindset: how to view employees as assets rather than expenses.
The organisational costs and risks of miscalculating employee value.
Five organisational strategies for investing in human capital metrics
This section will examine five fundamental strategies for investing in the development of human capital.
Day Two: Implementing HC analytics
Having examined the importance of human capital analytics, day two presents participants with practical approaches for using and implementing analytics initiatives in their organisations.
Measuring the impact of HR strategy and investments
This topic discusses the advantages and disadvantages of various approaches used for measuring the value of human capital and HR initiatives.
Accountability of the new HR
Many organisations are already experiencing an increase in the demand for a financial evaluation of their people assets and HR initiatives from senior management. But who should be accountable for calculating and delivering this value? HR, the line, external consultants, or some combination of these? This topic examines practical solutions to this question.
The structure of an individual human capital projects
This topic provides a methodology for structuring “one-off” human capital projects including alignment with business strategy and building the business case.
Embedding human capital analytics in your organisation
While individual human capital projects are useful, the real value of analytics emerges once it becomes embedded in the organisation’s culture as a standard process. This topics provides a methodology for achieving this including the roles, capabilities and structures required for maximising analytics effectiveness.
Assessing your organisation's readiness for human capital analytics initiatives
Because every organisation is unique, it must therefore tailor its analytics programmes to both its culture and analytical maturity to ensure success. This topic provides participants with tools and techniques for assessing their own organisations in this light.
Who should attend
No prior knowledge or understanding of human capital metrics is required. This course introduces you to Human Capital Metrics and enables you to develop knowledge, skills and understanding in this area.
Successful human capital analytics requires collaboration and cooperation between many parts of the organisation, so this course is suitable for:
- HR personnel: generalists, training and development, talent management, organisational development, and workforce planning analysts
- Financial stakeholders wishing to quantify the potential value of their workforces
- Strategic planners seeking to align market and environmental needs with required workforce capability
- IT specialists responsible for implementing the technologies underpinning their organisation’s analytics initiatives.