14 August 2019
MHR Analytics and Max Blumberg team up to offer video master class
Almost half of HR decision makers (*45 percent) say their people data could be used more effectively and **35 per cent cannot progress with analytics because of a lack of skills, research by MHR Analytics has shown.
In the survey of HR leaders, 46 percent said they are frequently asked to report on people data by managers and other departments, yet 68 percent struggle to share analysis across their organisation.
MHR Analytics has teamed up with international people analytics and workforce planning expert Max Blumberg to create four short online videos that answer the big people analytics questions and provide HR professionals with a quick and easy analytics master class.
“The boom in analytics technology is already forging big changes in the HR profession – a trend set to grow in the coming years,” said Laura Timms, MHR Analytics product strategy manager. “Yet for the average business, implementing analytics is not always an easy task, with common barriers including cultural resistance, data silos, or a lack of internal data analytics skills,” she said.
“Max Blumberg added: “Many studies show that while HR professionals understand the business value of people analytics, they are unsure how to set about implementation. For example, in an MHR Analytics study, almost half of HR leaders believed predictive analytics and machine learning would improve their HR function, yet 44 per cent had no analytics strategy,” he said. “There is a clear keenness to advance, but getting the basics right and being able to create a business case with clarity and confidence is the key to success. In the videos, we wanted to answer the most common questions asked by those starting their data analytics journey “
The videos cover:
How do you get ready for people analytics? People analytics always involves a change in one or more of your people processes. In this video Max explains the most important things to do and processes to initiate to prepare for people analytics, whatever your organisational culture or business type.
What is people analytics? People analytics uses people data such as payroll and absence management, and business information such as operational performance data, to reveal the solutions to business problems. This video advises how analysing your people data informs your business about how to get the best from your people processes.
What is workforce planning? At its most fundamental level, workforce planning is about being able to forecast the headcount and competencies you’ll need to implement your corporate strategy. Max details the ways in which data-driven workforce planning should be adapted as your corporate strategy changes.
What is the CFO’s role in workforce planning? The financial components of both people analytics and workforce planning are crucial for its success. Traditionally, workforce planning has been the responsibility of the organisational development team, the HR team or a specialist group function. But because people spend is typically a large proportion of operational costs, the CFO, together with other C-level roles, are becoming increasingly involved. This video explains how these roles can be coordinated as people analytics takes shape.
Laura Timms added: “Our research showed a clear desire among HR leaders for more information about how to adopt these powerful tools, reflecting what our customers tell us. We wanted to offer some guidance from a true expert like Max who has helped companies around the world transform their businesses through analytics and workforce planning.”
“We also know that larger companies do more HR analytics. Our research showed 48 per cent of companies with less than 50 employees said they weren’t doing any reporting or analytics, compared to only 6 per cent of those with more than 250 employees.”
Visit MHR Analytics to watch the people analytics and workforce planning videos.
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