Apply predictive analytics throughout all stages of workforce management People Analytics in the Era of Big Data provides a blueprint for leveraging your talent pool through the use of data analytics. Written by the Global Vice President of Business Intelligence and Predictive Analytics at Monster Worldwide, this book is packed full of actionable insights to help you source, recruit, acquire, engage, retain, promote, and manage the exceptional talent your organization needs. With a unique approach that applies analytics to every stage of the hiring process and the entire workforce planning and management cycle, this informative guide provides the key perspective that brings analytics into HR in a truly useful way. You're already inundated with disparate employee data, so why not mine that data for insights that add value to your organization and strengthen your workforce? This book presents a practical framework for real-world talent analytics, backed by groundbreaking examples of workforce analytics in action across the U.S., Canada, Europe, Asia, and Australia. * Leverage predictive analytics throughout the hiring process * Utilize analytics techniques for more effective workforce management * Learn how people analytics benefits organizations of all sizes in various industries * Integrate analytics into HR practices seamlessly and thoroughly Corporate executives need fact-based insights into what will happen with their talent. Who should you hire? Who should you promote? Who are the top or bottom performers, and why? Who is at risk to quit, and why? Analytics can provide these answers, and give you insights based on quantifiable data instead of gut feeling and subjective assessment. People Analytics in the Era of Big Data is the essential guide to optimizing your workforce with the tools already at your disposal.
Foreword xi Preface xiii Acknowledgments xvii About the Authors xxiii List of Case Studies and People Interviewed xxvii Chapter 1 The People Analytics Age 1 The People Analytics Advantage 3 The World of Work Has Changed 10 Notes 31 Chapter 2 How to Migrate from Business Analytics to People Analytics 33 A Short History of Analytics Adoption 35 Marketing and Human Resources Similarities 39 Advanced Business Analytics and Advanced People Analytics 44 The Promise of Analytics and People Analytics Bridges 50 Building a People Analytics Center of Excellence 53 Notes 64 References 65 Chapter 3 The Seven Pillars of People Analytics Success 67 Data and Tools Challenge 71 The Seven Pillars of People Analytics Success 76 Leveraging the People Analytics Framework 77 Workforce Planning Analytics Pillar 79 Sourcing Analytics Pillar 80 Acquisition/Hiring Analytics Pillar 82 Onboarding, Culture Fit, and Engagement Pillar 84 Performance Assessment and Development and Employee Lifetime Value Pillar 86 Employee Churn and Retention Pillar 88 Employee Wellness, Health, and Safety Pillar 90 Notes 96 Chapter 4 Workforce Planning Analytics 99 What Is Workforce Planning? 101 Workforce Planning Analytics 102 Why Should You Care About Workforce Planning Analytics? 104 Key Components of Workforce Planning Analytics 108 Making an IMPACT with Workforce Planning Analytics 112 Workforce Planning Analytics Best Practices: Dos and Don ts 128 Notes 129 Chapter 5 Talent Sourcing Analytics 131 The Business Case for Talent Sourcing Today 132 Why You Need to Care about Your Talent Sourcing Today 135 Talent Sourcing in the Era of Big Data and Advanced Technology 138 The Mobile Impact on Talent Sourcing 167 Putting the IMPACT Cycle into Action 169 Notes 172 Chapter 6 Talent Acquisition Analytics 175 What Is Talent Acquisition Analytics? 177 How Talent Acquisition Works 190 Application Phase 191 Preinterview Assessment Analytics 194 Interviews: Separating the Wheat from the Chaff 196 Putting It All Together: Predictive Analytics for Selection 198 Notes 203 Chapter 7 Onboarding and Culture Fit 205 Organizational Culture 206 Onboarding Process 207 Stages of Onboarding 209 Early Employee Needs 212 OPEN Analytical Framework for Effective Onboarding 213 Time to Productivity and Other Outcome Measures 216 Create an Onboarding Predictive Model 217 Tying It All Together 217 Notes 222 Chapter 8 Talent Engagement Analytics 223 Importance of Employee Engagement 225 Employee Engagement Surveys 227 Making Employee Engagement Surveys Predictive 229 Moving Beyond the Survey: Employee Engagement Measures 232 Notes 236 Chapter 9 Analytical Performance Management 237 Why You Should Care about Performance Management Analytics 238 Linking Individual Objectives to Company Objectives 239 Defining Performance Measures 243 Performance Incentives and Promotion 245 Provide Insight to Senior Management 247 Benefits of Analytical Performance Management 249 Best Practices 250 Predictive Analytics and Graph Theory to Optimize Career Pathways and Employee Promotion 251 Note 252 References 252 Chapter 10 Employee Lifetime Value and Cost Modeling 255 Understanding the Most Expensive Asset 256 Are Employees Costs or Assets? 256 The Basis for Advanced Analytics 257 Chapter 11 Using Retention Analytics to Protect Your Most Valuable Asset 283 Traditional Approaches Are Failing 285 What Is Retention, Anyway? 285 What You Need and How It Works 286 The Business Case 288 Deploying Retention Analytics ... Piece of Cake? 294 How to Implement Proactive Talent Retention Models 295 Data for Talent Attrition Predictive Modeling 298 Putting Your Employee Attrition Findings to Work 302 The Segmentation Strategy of Talent Retention Model Insights 303 Notes 305 Chapter 12 Employee Wellness, Health, and Safety to Drive Business Performance and Loyalty 307 What Is Employee Wellness? 310 Why Should You Care about Workplace Wellness? 311 Employee Wellness Program Best Practices 320 Optimizing Your Employee Wellness Health and Workplace Safety with Predictive Analytics 325 Notes 328 Chapter 13 Big Data and People Analytics 331 What Is Big Data? 332 Big Data and People Analytics 336 Leveraging People Analytics 338 Workforce Planning Analytics Pillar 339 Sourcing Analytics Pillar 341 Acquisition/Hiring Analytics Pillar 343 Onboarding, Culture Fit, and Engagement Pillar 345 Performance Assessment and Development and Employee Lifetime Value Pillar 347 Employee Churn and Retention Pillar 349 Employee Wellness, Health, and Safety Pillar 351 Notes 355 Chapter 14 Future of People Analytics 357 Rise of Employee Behavioral Data 359 People Analytics Moves beyond the Averages 361 Predictive Becomes the New Standard 363 Automated Big Data Analytics 363 Big Data Empowers Employee Development 365 Models Become the New Gold of People Analytics 366 People Analytics Becomes More Accessible 366 People Analytics Becomes a Specialized Department 367 Employee Data Privacy Backlash 368 Quantification of HR 369 Notes 372 Index 373
