People Analytics: Creating The Ultimate Workforce

People analytics, historically referred to as HR Analytics and utilized strictly as an HR function, has evolved into a systematic data-driven approach to improving your entire business.

If you are a leader or manager in a large organization, you are probably familiar with these terms. But you may be unaware how your organization can benefit from people analytics and what it will take.

That is what we will discuss today.

Table of Contents

·         What is people analytics?

·         Difference between HR, people, and workforce analytics

·         How organizations benefit from people analytics

·         Where do you begin?

·         How other organizations leverage people analytics

·         Understanding the ROI of people analytics

·         How should organizations implement people analytics?

·         What is the cost of implementation?

·         How does CHCI use people analytics to help organizations?

What is people analytics?

People analytics is the process of leveraging new or existing data within your organization to provide invaluable insights into your workforce and help you make better business decisions.

People analytics delivers facts about your organization such as why people are leaving your organization, the challenges they face, how much this is costing you, and more. Equally importantly, it paints a picture of how to anticipate and prevent these staffing challenges.

Difference between HR, people, and workforce analytics

People analytics, HR analytics, workforce analytics, and even human capital or business analytics are all different terms that share a common purpose: to improve all areas of business performance through the use of workforce data. Whatever you call it, the goal is to create a productive, innovative and powerful workforce, which positively affects the bottom line.

How organizations benefit from people analytics

The true value of a well-structured people analytics initiative will reflect directly on your bottom line. We’ll talk more about this in a minute, under the ROI section.

For now, here are a few ways your organization can benefit from people analytics.

Ten Ways Organizations Benefit from People Analytics

1.     Understand and improve retention

2.     Identify patterns of racial bias or inequity in compensation

3.     Create effective, non-biased processes for hiring and promoting

4.     Strengthen workforce decision making

5.     Increase accountability

6.     Shift team silos

7.     Improve employee productivity and commitment

8.     Determine the traits of your quality employees

9.     Seek better employee sourcing options

10.Develop a culture where decisions are made in accordance with the evidence

How does it help my organization make better decisions?

A crucial component of people analytics is the ability to make informed decisions based on user data. An example of this is McDonald’s. They learned that employees working in groups containing a healthy mixture of generations tended to be happier. Happier workforces can lead to improved service, product quality, and teamwork, all creating higher value for the restaurant brand.

Three Ways Learning Agility Can Help Your Career Growth

We have a guest blog this week about a fascinating topic: Learning agility. Thanks for David Hoff, co-author of Learning Ability-The Key to Leader Potential.

Learning agility is finding yourself in a new situation and not knowing what to do – but then figuring it out.

Why would that be important? In an organizational context, if you are promoted from one function to another or from an individual contributor to a manager role, how do I know you will be successful? The answer is that I don’t, because you’ve never done the job before. The research says if leaders make that decision without the help of an assessment process, the odds of the person being successful is 50-50 – essentially the flip of a coin.

What is the cost if the coin lands on the side of being unsuccessful? It depends; the range is anywhere from one to three times that person’s fully-loaded pay, including compensation and benefits. That’s an expensive coin toss!

Most organizations use a performance management system to give employees feedback on their performance and to equitably distribute merit increases. The output of this process is supposed to be a development plan, which describes the key objectives a person should achieve in the coming year and the areas he or she should begin to improve.

Some companies put additional time, effort and money into critical jobs and/or high-potential employees. There are different definitions of high-potential employees; a common one is a person with the ability to be promoted two levels above his or her current level. An example would be a manager with the ability to be promoted to a vice president. You can’t spend significant additional dollars on everyone, so who gets this extra time and attention? That is the $64,000 question.

One answer is to spend time on the most learning-agile person. But how do you determine learning agility? That question has stumped people in the talent management field for some time. My favorite response is, “Those who can learn on the fly.”

How do you operationalize that definition? What would I see a learning-agile person do? How would I teach someone to? Be more learning-agile? These questions are where learning agility becomes more complicated.

Researcher Scott DeRue, from The University of Michigan, established a model that identifies speed and flexibility as the two most important factors determining learning agility. Learning agility is about being able to digest a large amount of information quickly and figure out what is most important (speed). DeRue defines flexibility as the ability to change frameworks to help you understand how different things are related or connected.

DeRue also made a distinction between learning agility and learning ability. “Ability” means the cognitive ability or “smarts.” Ability is important to a point, but then, smarter is not necessarily better. Earlier, I noted that learning agility is being in an unfamiliar situation, not knowing what to do and figuring it out. The ability takes you to a certain point. Then, agility becomes more important.

DeRue says there are both cognitive and behavioral components to learning agility. The cognitive ones – the “hard wiring,” if you will – are difficult, if not impossible, to change. The behavioral ones are more learnable, because if you do the things described by the behavior, then you are demonstrating that part of learning agility.

Another researcher, Dr. Warner Burke from Columbia University, confirmed what DeRue described and found seven additional dimensions of learning agility. He embraced speed and flexibility; his research also identified experimenting, performance risk-taking, interpersonal risk-taking, collaborating, information-gathering, feedback-seeking and reflecting. Burke also developed a test to measure learning agility; his work led to a valid and reliable tool with years of research to support its results. This is a huge step beyond the 50/50 coin flip to determine who we develop and promote.

Here are three tips for using learning agility in your work:

1. In the future, people are more likely to be hired less for what they “know” and more for their ability to figure out what they “don’t know”. So get curious about what you don’t know as a way to make a difference in your career.
2. To increase your flexibility (one of the learning agility dimensions), take the opposing point of view (from your own position) during a discussion. Support that contrary position as strongly as you would your original position.
3. When seeking feedback (a dimension of learning agility), seek to understand what the other person is saying by truly listening. Defensiveness gets in the way of learning agility.

Want to learn more about learning agility? Reach out here.

Why Leadership Training Fails

It happens all the time. Senior leaders seek leadership training to strengthen the leadership team. Yet they don’t know exactly what will make their individual leaders better in their roles.
Some will base their leadership training on the flavor of the month, such as emotional intelligence. They have heard in leadership circles how powerful emotional intelligence is for leaders, so think training in that capacity will improve their individual leader’s abilities. And while that might be true, it might also be true that a particular leader is actually not lacking in emotional intelligence, and there are other skills that would maximize the results of their training. This is how leadership training fails.
For effective leadership training, we must know what the leader needs. This need should also be aligned with the organizational vision and mission, which requires foundational work. And in order to do that work, competencies must first be established.

The Foundational Work Needed for Leadership Training to Succeed

Sometimes referred to as ‘KSA’, competencies are the things people need to know (knowledge), do (skills) and have (abilities) to be successful in a specific role. Competencies can be grouped into technical, foundational and leadership areas. They are defined by specific behaviors that describe what that competency would look like if someone were using it effectively. These behaviors are often laid out across a proficiency scale so the employee can clearly assess her current behaviors and understand what behaviors are needed for the next level.
Some examples of competencies are problem-solving, conflict management, technical skills and speaking up. While some competencies will be applied to every employee, others are role dependent. The CEO of a large organization likely won’t need to have specific technical competencies, and a coder on the tech team likely wouldn’t need to be competent in sales communication.
Once competencies are defined, the next thing to do is identify five clearly defined proficiency levels. For example, for problem-solving skills, level one might be, ‘asks questions and looks for information to identify and differentiate the symptoms and causes of every day, defined problems’. Level five might be, ‘anticipates problem areas and associated risk levels with objectivity; uses formal methodologies to forecast trends and define innovative strategies in response to the implications of options; and gains approval from senior leadership to solutions of multi-faceted problems".

After competencies and proficiency levels are clearly defined, the next steps are:

1. Determine the expected proficiencies by job position.
2. Assess the employee’s competencies using a standardized process, on a regular basis. Competing an assessment will help the leader know which competencies to focus on for future leadership training.
3. Facilitate career conversations with employees to match organizational needs, career aspirations, and current employee proficiency to a leadership development program.
4. Track progress using accountability measures in the leadership development training.

Read in depth about each step here.

Using this process will prevent your leadership training from failing. You seek training because you are invested in your employee development. If you’re willing to make that investment, it’s worth doing all the foundational work necessary to get effective training that elevates your leaders.

People Analytics Certification Online - An Easier Way to Better Your Career

As groups get flooded with the great amount of information on a day by day basis, it's far turning into extraordinarily difficult for them to satisfy the demands of clients on a continuous basis.

Analyzing and processing any such humongous quantity of data is a complicated project. To keep away from issues connected with managing big statistics, organizations have now started to adopt the methodologies and techniques of large statistics.

Organizations must hire professionals who have the talents and expertise to cope with information, and these experts are described as big data analysts or big data specialists.

Advantages of People Analytics Certification

1. Carrier Growth

How to Intern At A Top Management Consulting Firm in Alexandria

Being selected for a management consulting internship is the most effective manner to break into the management consulting area at the top-tier firms. Top management consulting firms in Alexandria like CHCI, McKinsey, Bain, and AT Kearney has the common exercise of hiring maximum in their interns as full-time experts. 

Internships are an extraordinary way for you and the company to make sure the fit is right. As an intern, you'll be working with specialists on consultants and will understand if the organization culture, workload and various commitments are right for you - all while not having to make a long-term profession commitment.

Best management consulting companies in Alexandria hires interns at the end of their junior year or at the midway point in their graduate application. The top companies, which include CHCI, BCG, and Booz actively, recruit on the top universities and colleges via running carefully with the institutions' career services workplace. Pay cautious attention to the strategic management consulting firms recruiting timetable and recognize once they plan to be for your campus; they rarely hire for internships at other times of the year. 

Top Human Capital Management Consulting Firms - Choosing the Right One

There are several small strategic management consulting firms out there these days. As a business owner, you wish to confirm that you just are selecting the proper one for your needs. There are many things you will do as a business owner to form sure you're selecting the right one.

Many top human capital consulting firms offer similar services. So as to settle on what quite facilitate your company desires begins with assessment. You, as a business owner, got to take a step back and appearance at your company. The primary issue tries to realize the strengths and weaknesses of your company. You wish to work out the way to stay your strengths wherever they're and create your weaknesses sturdy. This may offer you a rough plan of wherever you wish to begin once sorting out an adviser.

Due to the actual fact that there are such a large amount of small strategic management consulting firms, you will need to interview several of them. You wish to make sure that the consultant you select has the most effective interest of your company at heart. You need an adviser that's going to are available in and facilitate your company win the goals you have got set. 

Mistake in Choosing Strategic Management Consulting Firms

Before than making any choice, it's imperative to have proper plans and techniques. This will permit people to ensure that their goals are executed well and easily. Those plans and strategies also are critical while running a business. However, there are instances when your commercial business team cannot cater to your wishes, which may be a massive trouble and can cause critical costs or bankruptcy.

Fortunately, business owner can now option for the services of reliable strategic management consulting firms. These corporations have experts who can provide services which could assist your team better and more reliable. Regrettably, there are instances whilst business owners hire the wrong company that could affect their business. Below are some of the most common errors.

Hiring inexperienced or new human capital management consulting firms

When it comes to consulting services, it's miles critical to hire seasoned corporations to achieve exact techniques from their beyond experience and customers. Hence, hiring inexperienced or new specialists is a big mistake due to the fact these specialists lack in experience to offer dependable business strategies.

Strategic Human Capital Consulting Services - A Great Way for Businesses to Increase Their Investment Returns

Running a commercial enterprise organization is not an easy mission. A variety of things need to be kept in view from the very establishment of the business enterprise. The owners and other individuals of the organization want to have super knowledge about various aspects of commercial enterprise. 

This is very essential for making sure an easy operation of the business. But there may be certain things which might not be part of the knowledge of the enterprise owner and on the same time the issue is extremely crucial for the survival of the business. In such situations, the owners need to be seeking help from a specialist which has knowledge in a particular subject.

The Strategic Human Capital Consulting Services offerings available to a business enterprise agency are plenty. One very essential sort of consulting is strategic management consulting firms. The strategic management consulting firms services offered by experts and certified management experts who have the critical knowledge in precise segments of the industry.

Numerous corporations which have experience in the field of marketing, information technology, human resources, sales, finance and banking and etc. provide human Capital Management Training.

Top Strategic Management Consulting Firms - Your Partner in Growth

The structures and forms of management vary from one corporation to some other. While it's approximately ensuring an organization’s success, its leadership has to manage the business each strategically and tactically. Most of the times, a management method has a few roadblocks that turn out to be deadlocks if they are not removed. And lots of a time, agencies lack the expertise to dispose of those roadblocks.

At this factor, strategic management consulting firms come into play. These companies have the exceptional procedures and the appropriate people so that every one of those managerial roadblocks changes into stepping stones to achievement.

Those demanding situations that the business enterprise is facing to manage its business efficiently can come to be possibilities once the leadership has honed its managerial talents. Now, these abilities can be remodeled as soon as the business's process is analyzed properly. Top business strategy consultants, which a business brings on board, have the expertise and experience to observe the existing techniques and provide their hints.

What Is Management And Strategic Human Capital Consulting?

Strategic human capital consulting firms are hired to help their clients realize the way to best manage and operate their enterprise. Human capital management consulting firms provide their expert advice on operational techniques, approach, resource allocation, human capital, and advertising within the framework of the client enterprise.

Top human capital consulting firms has been around since the past due 19th century. The primary strategic management consulting firms turned into founded by using MIT professor Arthur Little in 1886. Other top executive coaching consultancy firm has their roots in academia as nicely. Booz Allen Hamilton was founded through Edwin Booz who had graduated from Northwestern College.

Management consulting skilled exponential growth inside the 1940s and 50s as order for enterprise management and financial suggestion spurred demand. Companies grew to become greater country wide of their operations, starting offices around the country to higher serve their clients. Growth persevered through the 1970s and 80s as industry quality practices had been developed through powerhouse strategic human capital consulting including McKinsey, Boston Consulting institution, and professors at Harvard commercial enterprise school. In 1983, six Harvard enterprise faculty professors founded The Monitor Group that is now broadly appeared because the greatest top human capital consulting firms within the world.

Human Capital Management Consulting Firms Are In Great Demand

Hiring human capital management consulting firms is a rising trend among corporations and companies who are trimming the fats from their corporations and attempting to move toward a more productive and cost efficient version of operation. What the top management consultancy in Alexandria offer is a huge knowledge of the enterprise and the practices. Strategies that work in a single company can sometimes be transferred to every other to improve them. Overall performance management is simplest one of the services these organizations can provide to enhance overall performance and profitability.

The trend in the direction to choose executive coaching consultancy firm has grown hastily over the past 3 many years. It must be mentioned though that the demand for the services of such professional peaks in the course of harder economic times and lessens because it improves. The want to be profitable at some stage in difficult economic times has driven their increase during the last a long time.