Workforce Analytics Workshop

We are all familiar with the conventional HR metrics that organizations frequently use today: turnover rate, time to fill, and cost of hire to name a few. These measures are lagging or historical indicators that offer valuable but limited insight into the future performance. Analysis on past performance is not always the best indicator of the future. Therefore, it is of utmost importance for organizations to start making the shift from HR Metrics to Predictive Workforce Analytics.
HCMI’s Workforce Analytics course provides the foundation for quantifying what was once thought to be immeasurable in Human Capital.

Workshop Leader – Don’t miss the opportunity to learn from an International Expert!

Jeff Higgins is a driving force in Human Capital analytic advances among Fortune 100 Most Admired Companies and other companies seeking to leverage their workforce data into a source of value and actionable information via workforce planning and predictive analytic modeling. Using his unique combination of experience as both a senior HR executive and former CFO, Jeff has helped many companies advance in analytics and workforce planning maturity from basic to advanced world class practices, creating tens of millions in value for client companies.

Jeff Higgins is Principal and CEO at Human Capital Management Institute (HCMI) in USA, and a member of the Human Capital Disclosure Expert Panel at SHRM, and previous positions include: Executive Vice President at InfoHRM, Executive Vice President of Workforce Planning at Countrywide Financial Corporation, and VP of HR at The Irvine Company.

About HCMI

At HCMI we believe that there are methods for quantitatively measuring Human Capital much like Generally Accepted Accounting Principles (GAAP) provide a framework to measure and report organization financial performance. The workforce, often referred to as a company’s most valuable asset, should not just be a period expense on the income statement, but also an asset on the balance sheet. HCMI helps organizations like yours to optimize their workforce strategy, and with our deep workforce analytics and workforce planning expertise, enables organizations to make decisions today that drive value tomorrow.

Key Questions Answered …

Is the ROI on Human Capital higher than the ROI for other business capital (i.e., on working capital, invested capital)?
Is workforce productivity increasing, decreasing or static? How are we performing versus peers?
Where does our best talent come from? Which businesses or managers are the best talent scouts and coaches?
Is internal mobility a source of value creation or of turnover and cost at the organization?
Are leaders effectively managing our Human Capital? Is there a correlation between manager effectiveness and workforce engagement, performance and retention?

Why YOU SHOULD Attend

This workshop provides attendees with the tools, techniques and processes to successfully achieve Human Capital Analytics excellence in any organization. Training is facilitated by a recognized expert in analytics and workforce planning across industries and small to large global organizations. Attendees develop skills required to measure and analyze their workforce. Most importantly, HR professionals will be able to project and quantify the future cost of HR and workforce decisions.
Attendees leave this workshop with a set of practical tools that can be immediately implemented in the workplace.

Workshop Agenda (Day 1 and Day 2)

08:30 Registration
09:00 Morning Session Begins
10:40 – 11: 00 Refreshments and Networking Break
12:45 Lunch and Network Break
14:00 Afternoon Session Begins
15:30 – 15:50 Refreshments and Networking Break
17:00 Course Ends

Day 1

THE BUSINESS CASE FOR ANALYTICS, WHAT IS ANALYTICS, WHY IS IT IMPORTANT
– The challenge of measuring Human Capital
– Why measure the Human Capital or the workforce?
– Linking business, workforce and HR strategy together
– Workforce HR system data in decision making
– Building a business case for analytics
CASE STUDIES IN HUMAN CAPITAL ANALYTICS
– Analytics potential on productivity, costs and performance
– Analytics and the workforce, largest cost and greatest opportunity
– Case Study – Banking & financial services company: Workforce turnover
– Case Study – Retail company: Sales force effectiveness
– Case Study – Real Estate company: Recruiting success profiles
HUMAN CAPITAL ANALYTICS AND THE EMPLOYEE LIFE CYCLE: SOURCES OF VALUE
– Recruiting and on-boarding
– Internal mobility, career path, training and development
– Performance, productivity and pay
– Retention and turnover
– Hands on Exercise – Example analytics case: Outside hiring vs. Inside promotion
STANDARDS IN HUMAN CAPITAL AND HR
– The need for standards in HR
– Establishing an analytic framework
– Introduction to Human Capital Center of Excellence (COE)
– HR transaction standards
– HR classification and structure standards
– HR and Human Capital reporting standards
HUMAN CAPITAL ANALYTIC PROCESS AND METHODS
– Analytic techniques to solve workforce problems
– Tools to use for Human Capital analytics
– Data requirements, identifying data needs, gathering data
– Combining disparate data sources
– Segmenting and profiling Human Capital data
– Using historical data
– Trending analysis – Assessing HR policies and, procedures on the workforce
– Hypothesis formation and testing (scientific method)
IDENTIFYING DRIVERS, AND ROOT CAUSES
– Root cause identification of workforce issues
– Hypothesis structure and testing
– Simple quantification of business and financial impact
– Hands on Exercise: Problem Identification, Scientific Method, Testing and Interpretation

Day 2

STATISTICS AND ADVANCED ANALYSIS TOOLKIT
– Analysis toolkit introduction
– Advanced workforce segmentation, finding critical job roles
– Statistical driver analysis – correlation vs. causation
– Linkage analysis – linking Human Capital measure to business results
– Case study – Examples of advanced analytics
– Project future costs and savings impacts
– Quantify productivity improvement and financial return on investment (ROI)
BEST PRACTICES AND CRITICAL SUCCESS FACTORS
– Communicating with data and visuals
– Analytics success stories
– Case study – Banking & financial services company: Recruiting success profiles
– Change management, communication, working with HR
PROJECT MANAGEMENT AND SCOPING ANALYTICS PROJECTS
– Where to look for potential analytics projects
– How to find analytic projects
– Scoping and sizing project opportunities
– Getting management support and linking to business priorities.
TECHNIQUES FOR ANALYZING AND VISUALIZING DATA
– Communicating with data and visuals
– Selecting proper charts and visuals
– Chart use, problem identification
– Chart use, issue insight
– Chart use, driver for decision
– Telling stories with data
– Advanced storytelling: combining detailed data, visuals and a qualitative story
METRICS AND MEASUREMENTS: GOOD VS. IMPORTANT VS. CRITICAL METRICS
– Human capital metrics for measuring and managing the workforce
– Choosing the best measures of your business
– Benchmarks and targets
– Scorecards for HR and the business
– Choosing the right measures for scorecards
– Critical or key metrics, identification and use
DATA QUALITY AND ANALYTICS
– Workforce data issues
– Data governance and auditing
– HR data quality, outliers versus bad data
– HR transaction data validity and data consistency
– Hands on Exercise: Analytics and measurement case study

For costs and to register for this course click here.

Workforce Analytics Workshop