3 Take-aways to use Data for HR Success
Updated: Jul 1, 2019
HR Tech Valley is an eco-system of HR Tech actors. This not only includes HR Tech Startups, - Scale-ups, - Service Providers or engagers, it also overarches the expertise available to share with each other, partners and interested parties. In addition, HRTV does not only increases its efforts, it also creates marketing & business opportunities and brings HR Tech expertise to companies. All this "Because it's about people".
HR Tech Valley asked its members Jigso, Cumul.io and Officient.io to combine their expertise in a one-hour master class on the use of data for HR success. This format would be followed by a pitch session on HR technology that uses data to optimize HR processes in any way.(See slideshow)
When this format was "tested" at a local Business Club of Voka Mechelen-Kempen, in a speed dating setting, it resulted in a second joint event with Federgon where the format was introduced to a larger audience. This time as an introduction for a Pitching Hour with HR Tech members of the HR Tech Valley community.
For those who missed the event and / or are interested in a hosted event by HR Tech Valley, here’s a summary of the three key take-aways on how to use data for HR success.
1. Map all strategic challenges
HR and Business are moving at different speeds. The challenges they face are the same, yet not all at the same time.
This provides a demanding environment for those who offer solutions to meet those challenges. Much time is spent on preparing HR for the use of Data, while Business still needs to be convinced of the value that a people focus has in these times of change.
What challenges are you and your company facing today and in the future? Be complete! Research teaches us that there is enough to list - try to be as specific as possible.
Challenges can be;
● Wage cost optimization
● Learning & development
● Absences / Bradford factor
2. Know your KPIs and the value of visualization
An image is more powerful than a thousand words but be aware of the difference between metrics and KPIs. A metric or measured value is used to measure a KPI.
I.e. If you want to improve recruitment, your KPI could be the average recruitment time and the response time after the first contact of an applicant could be the metric.
Furthermore, the visualization of these KPIs and key metrics in a dashboard has great added value for HR, to have an impact on the C-level with concrete data.
It has never been easier to create reports and today HR can even deliver these with real-time HR data. Real-time data reports have the advantage that decisions can be well documented and made much faster.
3. Moving Data beyond HR
When you evolve from Insights to Foresights and have the ambition to use predictive analytics, try to have as much data as possible. Current technology makes connections and correlations that we never thought mattered, and yet they do.
When we combine all data - old and new - predictive forecasts can be made more accurate.
This means that not only HR data are relevant, but that also the perspective must be as broad as possible. How else do you find out that your highest absenteeism rate is related to the implementation of a new business process?
In this master class, Jigso came up with a used case that tries to predict the loss of employees with the most possible accuracy. (See slideshow)
To complete this HR data master class, HR Tech Valley organized a dynamic follow-up by offering several of its members "five minutes" on stage.
Examples of collecting and / or using data to optimize your processes can be found in our ecosystem. At the end of this master class, these Digital HR solutions seized the opportunity and presented themselves to an audience of interested HR Professionals:
They all did a fantastic job! The Pitchers did not focus on their idea, growth or company, but on the problem that they want solve and the way they solve it. The five-minute clock re-started with every pitch, yet the buzzer never went off and every pitcher knew his or her story as it should be.
About the "his or her":
Surprisingly, the statistic that got blown away at the end of the evening was that of gender diversity in tech: six out of ten Pitchers were Woman in Tech!