Any World-Class Workforce operates as an integrated part of the business. Globally integrated it operates locally, and is powered by highly skilled HR professionals and business partners. It functions on data using research, analytics and logic to make HR work, and drives managers to make data-driven decisions.
HRO Today will highlight some key pieces of HR research and methodology which will bring scientific, data-driven decision making to line leaders and HR including:
Organizations are using data and analytics to get ahead of succession and hiring planning.
By Audrey Roth
Long gone are the days when succession and hiring planning were considered cutting-edge HR. Today, both initiatives are essential components to the overall talent management strategy. When executed efficiently, talent gaps will be minimized, and all employees from the entry-level to the C-suite will understand their path to success within the company. Succession planning frequently focuses on senior-level roles, which is certainly a necessity, but lack of a broader organizational strategy can lead to lower levels of engagement and higher levels of attrition.
According to SHRM’s 2017 Employee Job Satisfaction and Engagement report, although job satisfaction and employee engagement levels are relatively high, 40 percent of employees expressed the possibility of seeking new external employment within the next year. One in five employees report career advancement opportunities as a reason for leaving, which underlines the need for planning.
By Debbie Bolla
A large part of HRO Today’s mission is to cover, share, and celebrate the incredible work that HR leaders and teams accomplish. One way we do this is through our CHRO of the Year and Talent Acquisition Leader of the Year annual awards programs. In Industry Innovators, see page 36, we take a deep dive into some of the impressive initiatives of our 2017 HR Leaders of Distinction for EMEA. We recently wrapped our HRO Today Forum in Dublin where we announced the 2017 CHRO of the Year EMEA award winners. Each of these leaders is transforming not only the world of HR, but are also making a great impact on their employees, their communities, and their organizations.
Winner: Sustainable Workforce
Suresh Anubolu, CHRO for GVK Biosciences, implemented a new talent management process that allows associates to grow and develop must-have skills. Anubolu also developed a sought-after culture through a strategic recognition and communications program.
Corporate scandal continues to cost companies
By The Editors
The impact of corporate reputation on employer brand is more significant than ever before and directly affects the cost of hiring, finds the 2017 Cost of a Bad Reputation study from HRO Today and Cielo. This year’s results show that with the U.S. unemployment rate continuing to drop and the economy projected to expand moderately at 2.2 percent into 2018, organizations have to be more aware than ever of the impact of a bad reputation on their employer brand.
According to findings from this year’s study, 61 percent of currently employed respondents were willing to leave their current employer to work with a company with a bad reputation, about the same as the prior year. Males remain much more likely than females to take the job, at 69 percent versus 52 percent, respectively.
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We know that the readers of HRO Today magazine turn to us as a go-to resource in the HR industry that delivers trends, insights, and the top resources for all of their HR operations and service needs. In our annual resource guide, we aim to showcase providers and product vendors across 18 sectors of HR services.
Here, you will find providers of everything from recruitment process outsourcing (RPO) to benefits administration and multi-process HRO, not to mention a treasure trove of HR technology, consulting services, and other ancillary products.
We hope that our 2017 Resource Guide will serve you well as a starting point in your search for appropriate vendors.
Measuring both internal and external factors helps provide HR with critical insight for business decisions.
By Sandhya Johnson
Measuring HR is a daunting task for many professionals in the field. There is typically a flurry of activity at the end of each month, quarter, and financial year to gather and report many of the traditional, delivery-based HR metrics. The five usual suspects are turnover, time-to-fill, tenure, training hours/days, and total HR spend. These metrics are useful in monitoring if core HR functions are performing, but they are not enough. These measurements have limitations—they are lagging and aren’t specific to the overall human capital strategy of an organization.
The three main HR measurement frameworks that have been widely used include:
• Balanced Scorecard developed by Robert Kaplan and David Norton in 1996;
• Accenture’s Human Capital Development Framework in 2006; and
• Human Capability Scorecard by Laurie Bassi and Daniel McMurrer of McBassi & Company in 2008.
A new study examines the impact engagement has on driving business outcomes.
By Dr. Scott Mondore
Does engagement cause business outcomes or do other elements of the work environment play a bigger role in driving outcomes? This is what SMD set to find out using advanced cause-effect analytical methods. Unfortunately the phrase, “Everyone knows that engagement drives business outcomes,” has been uttered countless times by hopeful human resources professionals over the past 20 years. Why? It seems plausible and certainly makes a connection between HR work and the bottom line. But often, it is not based on facts, data, and research. Academic research (Work & Stress, Journal of Applied Psychology, and Journal of Vocational Behavior) has demonstrated, at best, mixed results in connecting engagement to outcomes.
Engagement’s impact on business outcomes is not supported by meaningful and accurate analysis.
By Nathalie Bression, Tony DiRomualdo, and Harry Osle
Transformation remains a main initiative for HR organizations in 2016, finds the 2016 HR Key Issues study from The Hackett Group. Many companies are planning to overhaul key components of their service delivery models in order to meet business and HR performance goals.
The bottom-line findings of this research are threefold:
1. HR effectiveness is weakest in the areas that companies believe are the most essential to their ability to succeed in the current business environment. This includes HR’s ability to develop effective leaders and adapt talent management strategies to changing business needs.
2. Projects related to technology and information make up six of the top 10 planned HR transformation activities in 2016. This reflects HR’s understanding that its future effectiveness depends on the ability to deliver more efficient, easier-to-use services and conduct increasingly sophisticated measurement and analysis.
Using predictive analytics instead of past statistics for HR decisions creates business benefits.
By Michael Beygelman
Meaningful HR analytics speed the data-to-action cycle, reducing the traditional time lag to realize business benefits by helping companies “Identify, Intervene, and Intercept” – let’s call this I3. However, according to SAS, a pioneer in statistical analysis systems, “Predictive analytics is the use of data, statistical algorithms and machine-learning techniques to identify the likelihood of future outcomes based on historical data.”
If this sounds confusing, you are not alone! Predictive analytics has become a catch-all for vendors and HR buyers alike, given its meteoric rise in its prominence. However, in reality, predictive analytics goes beyond descriptive statistics and reporting by helping companies make evidence-based recruiting and talent-related decisions.Here is a handful of practical examples of implementing predictive analytics and the business benefits.
We know that the readers of HRO Today magazine turn to us as the go-to resource in the industry that delivesr trends, insights, and the top resources for all of their human resources operations and service needs. In our annual 2016 Resource Guide we aim to showcase providers and product vendors across 18 sectors of HR services.
Here you will find providers of everything from recruitment process outsourcing (RPO) to benefits administration to multi-process HRO, not to mention a treasure trove of HR technology, consulting services, and other ancillary products.
We hope that our 2016 Resource Guide will serve you well as a starting point in your search for an appropriate vendor.
Tough competition, stagnant economy, and some great new tools
By Bill Hatton
What do HR pros in Europe need to know about recruiting and RPO in the next year to prevent being blindsided? We put this question to Jan Mueller, Managing Director, EMEA Solutions, Futurestep, based in Munich, Germany. Jan has been in recruitment for almost 20 years and in the RPO industry for 10 years. He generously shared his insights with HRO Today Global on the state-of-the-market in Europe:
The lay of the land in Europe shows a market that’s maturing, versus a United Kingdom that has matured. “There are companies within the European region that don’t yet have a dedicated recruitment function, but rather still have HR generalists who do everything. It tends to be Central European countries, as well as the likes of Germany and France, who are still catching up, whereas in the UK we are seeing a very mature market.”