As a professional working in human resources management, the call to incorporate analytics into your strategic decision-making process is everywhere – while reading popular HR blogs, as a subject of a recent scientific publication or as the major theme of the latest HR-related conference. And why this sudden call? One of the reasons has been that technological advancements have increased the amount of data available as well as facilitated the extraction of data within legacy systems that was previously thought to be lost. Another is that we have seen an increase in the amount of electronic information being exchanged through different systems regardless of the size of your organization or the sector it operates in. And lastly, over the last few years, the human resources community has come together and generally agreed that the use of this rich data available does indeed help generate better business decisions.
Numerous case studies and use cases have recently been published and clearly the results obtained by the use of analytics speaks for itself. Examples such as the discovery that the ability of a United States soldier to complete 40 push-ups or more remains the best predictor of a new recruit’s success during basic training (boot camp) or that in the retail sector, a 0.1% improvement on your employee engagement rates will generate approximately a million dollars of additional revenue. While HR professionals hear the call and agree that the results are conclusive, the list of challenges associated with incorporating the use of analytics into HR activities may seem as exhaustive as its benefits. However, take solace as you read this in the fact that you are not the only one confronted with this reality as you begin trying to break existing habits in your organization: a tendency to relying solely only on judgment when assessing an individual, a lack of expertise in HR statistics to help organize data and ask the right questions, etc.
Which is why Sabrina and I have decided to give ourselves the objective to help organizations demystify the use of talent analytics by founding The Talentrix Group.
We have always been captivated by human attitudes and behaviour specifically, their influence on the business results of an organization. We started this endeavor firmly believing that with the right technology, the right academic, statistical and business support, any human resources professional can:
- Explore: create and test hypotheses related to HR concerns as well as broader business issues;
- Prioritize: identify the business objectives that will have the greatest impact on organizational performance;
- Learning: obtain a visualization of the current situation in an organization by capturing, organizing and interpreting available data;
- Intervene: set realistic expectations and focus in on the elements which will help you to achieve your objectives;
- Evaluate: create dashboards with relevant data which can be used to monitor progress and the results obtained.
As you will notice while browsing though our website, we have chosen best in class solutions and partners to accompany us in this adventure. The Talentrix Group will work with you and support you at every step of this journey with the goal of bringing you one step closer to using analytics to achieve organizational effectiveness and efficiency. We look forward to beginning this journey with you and we welcome you to this exciting adventure of HR analytics.
There is still a place for human insight. I say Data + Judgement = Problem Solving. There is some context that data just can’t capture today. You need them both. The right insight combined with good judgment allows us to make superior decisions. – Placid Jover