HR ANALYTICS & METRICS
Human capital is one of the least measured and analyzed investments, despite the fact that more than 70% of company costs are labor related. In recent times, Executives are realizing that they do not have a firm grasp on the characteristics and capabilities of their workforce. Hence, investors are asking for ‘human capital’ statements to be included as part of annual reports because human capital drives the performance of all other assets.
If HR wants to play a strategic role in organizations, it needs to develop its ability to measure how human capital decisions affect the business, and vice versa There are hundreds of metrics in use by HR today, ranging from the most basic (employee turnover) to highly complex scorecards and workforce analytics.
However, as HR evolves beyond transactional functions like making sure staff is paid on time and enrolling people in health benefits, they are thinking more and more about being viewed as a business partner. Today, HR organizations are expected to deliver services and results that fuel a company’s success. To operate in this way requires establishing a cause-and-effect relationship between what HR does and business outcomes. To create strategies based on that information requires the right data. This is where the value of HR analytics is most pertinent.
Senior managers are looking for meaningful measures of human capital factors and their impact on business outcomes and HR analytics can be used to track and manage their performance and to drive decisions in the HR function.
The integration of HR metrics with other business metrics from within, as well as outside of the organization, aids to understand the complex factors which affect the current workforce and make predictive decisions about the future workforce.
This is the overall aim of this course, as well as to assist HR Professionals in managing employees effectively, so that organizational goals can be met.
LEARNER’S LEARNING OUTCOME
This programme is designed to help HR professionals correlate business data and people data, also make impact on the overall business through informed and proactive people decisions
At the end of the course, participants should 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 organizational 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 organization’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
- Align HR and operations on the specific ways and means that people are engaged, productive and effective and the impact of HR
- Generate a list of HR benchmarks and metrics relevant to your organization’s goals
- Help you adopt these in the short, medium and longer term to get value out of the analytics
- Prepare an analysis of workforce and talent data to identify trends and other actionable performance information
- Help you design what these analytics look like in your organization.
HR Metrics Overview
- Concepts, Objectives
- Historical evolution of HR metrics.
- Explain how and why metrics are used in an organization
Designing effective Metrics that matters
- Deciding what metrics are important to your business.
- HR metrics design principles.
- Approaches for designing HR metrics:
- The Inside-Out Approach
- The Outside-In Approach
- Align HR metrics with business strategy, goals and objectives.
- Link HR to the strategy map.
- Creating levels of metrics measures:
- Workforce Planning Metrics
- Recruitment Metrics
- Training & Development Metrics
- Compensation & Benefits Metrics
- Employee relations & Retention Metrics
- What HR Analytics.
- Importance of HR Analytics.
- Translating HR metrics results into actionable business decisions for upper management
- Formal lectures
- Case studies
- Group exercises
- Experience sharing
- Role Playing
- Improved staff productivity and effectiveness
- Improved reward system
- Decreased turnover
- Cost savings
- Employee motivation
- Increased market share
WHO CAN ATTEND THE TRAINING?
Mid-Level and senior level Executives, Human Resources managers and senior professionals, specialists, team leaders, and business partners in different function who seek to broaden their knowledge and improve their skills in the how to use and apply human capital metrics .
COURSE DURATION AND FEE:
The price to the training intervention for a period of three (3) days is Eighty-five thousand naira (#85,000) per participants. Under the following assumptions
- CERTIFICATION EDGE will not be responsible for the training venue and feeding of participants.
- The class will contain a minimum of 20 participants.
- Cost does not include VAT