PEOPLE/PREDICTIVE ANALYTICS Assignment Overview For this assignment, you have the opportunity to focus on a private-sector organization doing business in another country. Discuss how this organization is approaching the issue of big data and analysis of big data. What data is it analyzing and why? How is it transforming the data to useful information? What future directions do you see this global company taking with regard to data collection and decision making insofar as HRM is concerned? Review the background materials and also find additional resources to help you complete this assignment. Bring in at least 2 valid sources to help strengthen your discussion. Paper length: 3 pages, not counting the cover and reference pages. Assignment Expectations Prepare a paper that is professionally presented (including a cover page, a List of References, and a strong introduction and conclusion). Proofread your paper carefully for grammar, spelling, and word-usage errors. Address all aspects of the assignment as stated above. Limit your Internet searching and focus instead on library searches; be sure to bring in information from the background readings. Give authors credit for their work. Cite sources of borrowed information in the body of your text as footnotes, numbered end notes, or APA style of referencing. BACKGROUND REQUIRED Morgan, J. (2016). People analytics: A new way to make decisions in the workplace. Retrieved from Standard YouTube license. KnowledgeAtWharton. (2015). Whats behind the surge of interest in people analytics? Retrieved from HR Metrics More and more organizations are collecting data about employees and analyzing the data in an effort to make better employee-related decisions. HR metrics and the use of balanced scorecards and other performance measurement systems provide the decision-making capacity to influence business strategy, which in turn transforms HR into strategic partners with the business. The Society for Human Resource Management (SHRM) has identified key human capital measurements that are critical to evaluating HR performance: Revenue Factor: Revenue/Total Full-Time Employees Human Capital Value Added: (Revenue Operating Expense Compensation & Benefit Cost)/Compensation & Benefit Cost Total Compensation Revenue Ratio: Compensation & Benefit Cost/Revenue Labor Cost Revenue Ratio: (Compensation & Benefit Cost + Other Personnel Cost)/Revenue Training Investment Factor: Total Training Cost/Headcount Cost per Hire: (Advertising + Agency Fees + Recruiters Salary/Benefits + Relocation + Other Expenses)/ Operating Expenses Health Care Costs per Employee: Total Health Care Costs/Total Employees Turnover Costs: Termination Costs + Hiring Costs + Training Costs + Other Costs These measurements then can be compared to the same organizations past performance as well as to the performance of other companies. HR professionals sometimes also track: How satisfied are employees with their jobs? How satisfied are employees with their supervisors? What is the time to fill job openings (the period from job requisition approval to new-hire start date)? What is the length of employment (by job title, department; from employment start date to employment end date)? What is the number of days the positions were vacant (vacant period)? What is the new-hire performance level (average performance appraisal of new hires, compared to previous period)? What is the manager satisfaction level (survey of hiring managers, compared to previous period)? What is the turnover rate of new hires (during a specified period)? What is the financial impact of bad hires (comparing turnover cost and cost per hire)? What is the preventable turnover (the reasons the employee left and what measures may be taken to prevent it)? What Is the diversity turnover (turnover rate in professional, managerial, and technical positions)? Learning and Growing Opportunities (percentage of employees who are satisfied with the learning and growth opportunities in the organization). On-the job learning (percentage of employees who are satisfied with on-the-job learning, projects assignments for growth, and development and job rotation). The above metrics will help managers make better decisions concerning: Types of training, for which segments of the workforce will yield the best results. Actions to take to help reduce absenteeism. Actions to take to reduce turnover and what retention efforts to implement. Optimal mix of reward programs to boost employee engagement to help drive stronger financial performance. Opportunities for New Hires (percentage of employees who report training opportunities among the top three reasons they accepted the job). PeopleMatttersOnline. (2016). Top trends in HR analytics. Retrieved from Firing Line with Bill Kutik. (2016). Top analyst Holger Mueller predicts the future of predictive analytics for HR. Retrieved from Brockbank, W. (2017). What percentage of your people create 90 percent of the value? Inside HR. Retrieved from Ward, D. (2017). Big data helps workers thrive: A Q & A with Jenny Dearborn. HR Magazine. Retrieved from Lawler, E. E. (2017). Reinventing talent management: principles and practices for the new world of work. Retrieved from ProQuest, Ebook Central (ATTACHED) OPTIONAL READING Feffer, M. (2014). HR moves toward wider use of predictive analytics. Retrieved from hiQ People Analytics Podcast (2016). Retrieved from HR Happy Hour (2017). Were Only Human 13–Calculating the ROI of Human Resources. Podcast retrieved from (also visit and/or https://player.fm/podcasts/Human-Resources for other topics related to HR)Show more
