On April 16 2014 Josh Bersin did a web cast on the datafication of HR. During the 55 min web cast he covered a variety of topics relating to the datafication of HR.
Some of his observations and findings are:
That companies that regularly use data in HR decisions are
- 2X as likely to believe that they are excellent in selecting the right candidate
- 2X as likely to believe that they deliver a strong leadership pipeline
- 3X as likely to believe that they are efficiently operating HR
- and generate 30% better returns that the S&P 500 over the last 3 years
That there is a long way to go:
- 56 % of companies are still doing reactive reporting
- 30 % of companies are doing some for of advanced reporting
- 10% of companies are involved in advanced analytics
- 4% of companies are doing predictive analytics
He also suggests that these numbers might be high as he tends to investigate fairly sophisticated and advanced companies
A rough index of topics follows:
- 00:00 Introduction
- 00:50 Introduction to Datafication
- 01;55 Complexity of Human Resources
- 03:00 What does HR leadership struggle with, strategically, tactically?
- 04:00 Using Data in HR decisions
- 05:45 History of data science in HR
- 12:00 Datafication of HR is Inevitable – HR is on of the last places to adopt the use of data
- 14:00 Bringing HR and the business together – typing HR analytics to business problems and activities
- 32:00 Effort vs. Value – invest effort, be patient
- 35:50 The ugly part of analytics – Data Management – Investment required
- 36:10 Drive to World Class Analytics – Data Quality, Dash Boards & the ease of reporting, creation of a multidisciplinary team, creating data culture (using data to solve problems), the need for IT support
He concludes that a major transformation in HR is underway. This transformation will not happen in each company overnight. A 1- 3 year plan should be put in place, and that you should focus on solving business problems, not just HR analytics.
There are quite a few good ideas in this presentation. I feel that is well worth the 55 min. of your time.
Access the recording here