Proper use of HR Analytics helps managers pin-point actions that will drive employee performance. In our experience, higher pay is seldom the solution to productivity and retention. Applying our model has saved our clients millions of dollars while improving productivity and job satisfaction.
HR Analytics can identify meaningful data patterns and predict likely outcomes thereby significantly improving quality and speed of decision-making. The success of companies such as Google and Capital One would not have been possible without Analytics. The quality of a search engine is measured by the extent to which it interprets a web user’s query and matches it with a list of sites. For a credit card company, Analytics can be used to predict which applicants are likely to default on their payments.
At Starbucks, we differentiated high-performing Store Managers from those who were average or below average. This was accomplished by identifying strong statistical relationships between performance and other data groups, such as prior work experience, type of education, and preferred motivators and work values.
With these findings, the company significantly improved their ability to attract and hire the right person, provide the right training, design the most effective reward programs, and focus on specific initiatives to retain top-performing employees.
Our HR Analytics Model has been refined over the years. We have learned to collect the right types of data and apply the appropriate statistical methods. In years past, we developed hypotheses to “test.” Today, we simply run our models and let the data lead the way to improving business processes. Here are examples:
In a large real estate company, agents with a liberal arts degree were more likely to be successful realtors than those with a business education.
For a high-tech company, high performers were more motivated to perform if they were rewarded with learning opportunities than by increased compensation.
In a chemical processing company, management could improve employee performance simply by communicating recent successes directly to the workforce.
In a retail company based in Thailand, employees were more likely to stay with the company if they were given a name tag with their picture on it than any other employee retention option.
High-performing store managers at one multi-site business preferred a monthly budget with which to purchase pizza for the workers than to receive a raise.
We skillfully assess client needs, develop custom solutions, and help you implement business process improvements in an effective manner.