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:
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.”
By Bill Hatton
In this edition, we have a terrific follow-up to last issue’s investigations of HR in China and India. Our APAC correspondent, Michael Switow, delves deeper into India itself and focuses on the issue of attrition—and how that will affect HR and HR outsourcing. That story begins on page 38.
We also have our annual Baker’s Dozen Customer Satisfaction Ratings: Recruitment Process Outsourcing (RPO). The RPO Baker’s Dozen is our most popular rating. We rate enterprise leaders, healthcare leaders, and emerging leaders. Note: The European ratings will be announced during the 10-12 November HRO Today Forum EU in Amsterdam. The current ratings begin on page 10.
Speaking of the HRO Today Forum EU, our cover story focuses on the CHRO of the Year nominees – the winners will be announced at the November forum. Elliot Clark explains the nature of the honor in his letter on page 5, and in the story we highlight the nominees. It starts on page 6. Later in the issue, starting on page 59, we have our Forum Preview, which features many of the outstanding speakers we’ve lined up for the event.
By Elliot H. Clark
HR is transforming at an astounding pace. Gone are the days of administration and compliance and the new gestalt is about employee productivity, talent management and contribution to organisational performance. And, oh, keep doing that administration and compliance thing. Whilst some decry the layering up of responsibility on the HR suite, one thing is abundantly clear: The role of HR is growing.
What is next? I’m not exactly sure. I know what is necessary to meet the current need. Every CHRO we talk to tells us the same thing: The time is upon them to have the most talented workforce available within the company’s budgetary parameters—and to have accessible and highly comprehensive data reporting, plus the ability to analyse trends and predict future needs.
In an era when things are changing and innovation is the watch word of the day, it is important to recognise the leaders in the HR profession who are pushing the boundaries and redefining the role of HR through innovation.
We know that the readers of HRO Today Global magazine turn to us as the go-to resource in the industry-a resource that delivers trends, insights, and the top resources for all of their human resources operations and service needs. In our 2016 Resource Guide, we showcase providers and product vendors across 14 sectors of HR services.
Here you will find providers of everything from recruitment process outsourcing (RPO) to benefits administration to multiprocess 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.