Making Analytics Practical for Every Leader in Your...
Transcript of Making Analytics Practical for Every Leader in Your...
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Making Analytics Practical for Every Leader in Your Organization
Presented by:
Hannah Spell, Ph.D.
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Submitting Questions
Questions may be submitted at any time during the presentation. To submit a question:
Click on the Chat icon on the top toolbar (as shown at the right).
This will open the chat window on your system only.
Type your question into the small dialog box and click the Send Button.
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Work Group Speakers
Scott Mondore, PhDManaging Partner
Hannah Spell, PhDDirector of Research and Analytics
Shane Douthitt, PhDManaging Partner
Matt Betts, PhDConsultant
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SMD OVERVIEW: Driving Business Results Through Surveys & Assessments
OU
R T
EC
HN
OLO
GY Analytics Based:
Links People to Critical Business Outcomes through:
• Employee Surveys
• 360 Feedback
• On-boarding & Exit Surveys
• Selection Assessment
• Competency Modeling
OU
R P
RO
CESS 4 Steps:
• Prioritization of Key Business Drivers
• Selection of Improvement Areas
• Customized Action Items
• Business-Focused Action Plans
YO
UR
BO
TTO
M-L
INE Common Outcomes:
• Operations Metrics
• Financial Metrics
• Customer Satisfaction
• Patient Satisfaction
• Turnover / Retention
• Whatever is most critical to your bottom-line
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Participating Organizations
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Presentations & Presenter
To stay up-to-date on all our research and presentations:
• Join our LinkedIn page: https://www.linkedin.com/company/strategic-management-decisions
• Follow us on Twitter: @SMDHR
Hannah Spell, Ph.D.Director of Research and Analytics
[email protected]://smdhr.com/leadershipteam.html
https://www.linkedin.com/pub/hannah-spell/11/692/872
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Learning Objectives
Define the goals of analytics
How to keep analytics simple and practical
How to cascade algorithms to front-line managers
Guide managers on what to do
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THE GOALS OF ANALYTICS
KEEP IT SIMPLE AND PRACTICAL
CASCADE IT DOWN
PROVIDE GUIDANCE
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Goal and Definition of HR Analytics
• Ultimate Goal – Leverage people insights to inform changes to organizational policies/procedures to better align with company goals
• Simply Defined –The analysis and application of a company’s people data– Often involves multiple sources of data (some of which come from non-
traditional HR sources)
– Includes both primary as well as secondary data collection strategies
• Implications – Can impact broad spectrum of HR (and organizational) activities
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• Turnover analysis
• ROI and Cost calculation
• Reporting• Data
Management• Compensation• Training
• Competency models
• Predictive talent profiles
• Succession Planning
• Performance Assessment
• Training effectiveness
• Survey development and analysis
• Targeted assessments
• New Hire, Onboarding, Exit Surveys
• Climate Assessment
• Change Readiness Assessment
HR ANALYTICS
Talent Management
HR Operations
Employee Experience
Recruiting & Selection
• Target Candidates
• Selection Assessment Development and Analysis
• Role Play, Work Sample, Behavioral Interview, Knowledge Assessment Development and Weighting
• Hiring Algorithms
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Why Analytics?
• HR Analytics connect employee data to business outcomes
• HR Analytics prioritize where and how much to invest
• HR Analytics calculate impact/ROI from people investments
Analytics Business ResultsPeople Investments
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The Opportunity – HR Analytics
• Discover the attitudes, competencies, skills, experiences, etc. that drive business results
• Make people investments based on drivers of results
• Take the lead in making HR processes business-focused
• Build a business case based on ROI
• Become viewed as a strategic partner that drives business results
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Prioritization
• The key take away from any analytic project should be prioritization for follow-up
• Analysis paralysis is common – make sure you are doing analytics with a purpose
• Don’t get bogged down in information overload
• There will always be more analysis you can do, more ways to cut your data…determine what is needed and useful
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Analysis Goals
Connect the dots between people and business results – don’t just assume
Uncover actionable insights
Determine a priority for follow-up
Generate strategic plans – direct resources to the priorities
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THE GOALS OF ANALYTICS
KEEP IT SIMPLE AND PRACTICAL
CASCADE IT DOWN
PROVIDE GUIDANCE
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Complex Methods – Simple Insights
Make sure the methods are stringent and appropriate to accurately answer the question
Keep the methodology behind the scenes
Only share the key take-aways
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Focus on the “So What”
• Leaders at any level rarely need to know all the details
• Provide a high-level description of what was done, details only if requested
• Craft the story:
• What you did
• What you found
• Why it matters
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Case Study 1 – Link to Bottom-line Metrics
• Linked employee survey to critical business outcomes: – Employee commitment (precursor to turnover)– Actual historical turnover rates– ROI metrics (budget to profit ratios)– Customer satisfaction scores
• Allowed the organization to: – prioritize around key topic areas, – provide manager specific scores on these key drivers, – direct follow up and action planning to address these critical areas of the
employee experience in order to positively impact the outcomes above
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Key Drivers of Business Outcomes
What is a HeatMap?
• A graphical plot that shows the impact of employees’ attitudes on key outcomes. Example key outcomes - Turnover and Customer Satisfaction.
• Allows leaders to identify attitudes that are key drivers of results and prioritize improvement efforts in these areas.
Perf
orm
an
ce
(A
vera
ge R
ati
ng
)
Level of Impact
Maintain Promote
Monitor Focus
HeatMap Interpretation
1. Focus: Low Performing | Key Driver
2. Monitor: Low Performing | Not Key Driver
3. Promote: High Performing | Key Driver
4. Maintain: High Performing | Not Key Driver
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Key Drivers of Commitment, Turnover, Branch ROI, YTD NBT, & Customer Satisfaction
Focus on these five Key Drivers for
Action Planning across the
organization
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Case Study 2 – Understanding Turnover
• Linked survey scores to whether or not an employee had voluntarily left the organization six months after close of survey
• Using analytic models, determined which employee experiences had a significant impact on whether an employee exited the organization
• Able to identify key drivers of voluntary turnover as well as locate work units across the organization where current employees were low scoring on these key drivers
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Mean Differences Between Still Employed and Turned Over Employees
Category Still Employed Voluntary Terms Difference
Accountability 3.56 3.36 -0.20
Career Development 3.77 3.51 -0.26
Compensation 3.24 2.99 -0.25
Customer Focus 3.66 3.41 -0.25
Engagement 3.91 3.48 -0.43
Job Fit 4.30 4.08 -0.22
Management 4.02 3.77 -0.25
Quality 4.12 3.91 -0.21
Senior Management 3.72 3.46 -0.26
Teamwork 4.21 4.08 -0.13
Work-Life Balance 3.97 3.68 -0.29
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Organization-wide: Key Drivers of Employee Turnover
Turnover
Job Fit
Management
Work-Life Balance
Compensation
Drivers are in order of strength of statistical relationship with Turnover
Customer Focus
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Organization-wide: Item-level Drivers of Turnover
*Items are in order of strength of statistical relationship with Turnover
Priority* Category Item
1 Job Fit I like the work I do.
2 Management I am involved in decisions that affect my work.
3 Job Fit My job makes good use of my skills and abilities.
4 Work-Life BalanceI have the flexibility I need to balance my work and personal life.
5 Customer FocusMy facility demonstrates a commitment to improving overall customer experience (e.g., patients, employees, physicians, and visitors).
6 Customer Focus My work unit is adequately staffed.
7 CompensationMy pay is competitive with similar jobs I might find elsewhere.
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THE GOALS OF ANALYTICS
KEEP IT SIMPLE AND PRACTICAL
CASCADE IT DOWN
PROVIDE GUIDANCE
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Make it Relevant
Give leaders the information that impacts them,
and tell them why it matters – the “so what”
– Used analytics to set the focus and priority for the organization
– Now, push it down to managers in a way that makes sense to them
– Targeted Focus and Action Planning strategies
– Some Examples…
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Case Study 2: Calculate where each Manager Stands:
• With the survey scores of the employees that are still employed, create a proactive turnover scorecard to identify work units with low scores on key drivers of turnover
• Managers are now equipped with information on where there is likely future turnover and can get in front of it knowing where to focus
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Seeing the ROI
• Using this analytic approach to understanding turnover, the organization was able to strategically focus on measures to mitigate voluntary turnover
• Effectively reduced their turnover rate by 24-28% across the organization
• This equated to a savings of $8 Million over a one-year period
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Focus For Development
Impact (from analytics) + Performance (360 assessment)
• Plan development investments where a manager is lower on competencies that impact performance
Note – * Indicates a key driver
Job Family
Proficiency
Level
Follow
Up*
Communi-
cation*
Situational
Judge.
Collabor-
ation*
Drives for
Results*
Sales &
Value
Position.
Opportunity
Ident.
Opportunity
Mgmt.
Consultative
Convers.*
Relationship
Dev.*
Demand
Creation*
Industry
Expertise*
Expert
Advanced
Proficient
Foundational
Relationship Building Professional Services Selling
Sale
s
Exec
uti
ve
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Understand the Impact & Map to Performance
Collaboration
Communication
Consultative Conversations
Drives for Results
Follow Up
Industry Expertise
Opportunity Identification
Demand Creation
Opportunity Management
Sales and Value Positioning
Situational Judgment
Relationship Development
5.3
5.5
5.7
5.9
6.1
6.3
6.5
0.0 0.1 0.2 0.3
Pe
rfo
rman
ce
(Ave
rage
Rat
ing)
Level of Impact on Overall Sales Outcomes(Higher numbers indicate a stronger impact based on a 0.0 to 1.0 scale)
Behavior Key Drivers of Sales Outcomes (Win Ratio, Sales Attainment, Sales Size)
Maintain Promote
FocusMonitor
Sales Executives that had an overall mean rating of 6.00 out of 7.00 or greater on the 8 critical competencies outperformed their peers by: • +78% Sales Goal Attainment; • +$10,000 Average Win Size; • +10.0% Win Rate
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THE GOALS OF ANALYTICS
KEEP IT SIMPLE AND PRACTICAL
CASCADE IT DOWN
PROVIDE GUIDANCE
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Guide Managers through Follow-up
• Don't make managers draw their own conclusions or work through lots of data
• Don’t assume all managers know what to do next
• Provide targeted priorities and resources for them to easily and quickly take action
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Key Drivers of Business Outcomes
What is a HeatMap?
• A graphical plot that shows the impact of employees’ attitudes on key outcomes. Example key outcomes - Turnover and Customer Satisfaction.
• Allows leaders to identify attitudes that are key drivers of results and prioritize improvement efforts in these areas.
Perf
orm
an
ce
(A
vera
ge R
ati
ng
)
Level of Impact
Maintain Promote
Monitor Focus
HeatMap Interpretation
1. Focus: Low Performing | Key Driver
2. Monitor: Low Performing | Not Key Driver
3. Promote: High Performing | Key Driver
4. Maintain: High Performing | Not Key Driver
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An Example: SMD Link HeatMap
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Focus Areas for Action Planning
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Select Possible Action Items
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Action Planning
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Why Action Planning Matters
Leaders with the most improvement in business outcomes and survey scores did four things in particular:
1. Included Focus/Promote areas in action plans (92%)
2. Added their own action items and/or customized SMD’s tips (74%)
3. Had their action plan reviewed/approved by their managers (67% )
4. Updated the plan throughout the year (60% )
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Doing this on Your Own
If you don’t have technology or resources to automate…
• Align LMS courses with focus areas
• Build guidance resources to distribute (Action Tips in excel)
• Host Action Planning Meetings with managers to help them get started
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Prepare Managers
• Don’t assume managers know how to have conversations with staff to help with Action Planning
• Train Managers how to ask the right questions and gain insights
– Keep conversations behavior focused
– Involve staff in solution development
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Practical Tips
• We have to change our mindset and approach:
– Move from reporting HR-focused metrics to identifying the drivers of business results
• Focus on Predictive Analytics that are linked to business outcomes
• The analytics are complicated – but the story that emerges has to be simple
– Boil the story down to critical drivers and priorities
– Improve x (people measure) & y (people measure) and z (business outcome) will improve
• Start with one project and try it out before jumping all the way in. Ask yourself:
– Can I articulate why this really matters to the business?
– Can I articulate the business value of moving this number?
– Why would senior and front-line leaders care about this metric?
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Recommendations
• Have a measurement strategy – it can’t be to just measure more often
• Harvest the intelligence from the data you already have, before investing in more data
• Think about what you will do with the data to drive results
• Define the business problem first and then identify potential data sources that will likely provide intelligence
• Show the impact of the measurement process (ROI) and leaders will champion HR measurement…not question it
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Questions and Comments
• Please use the chat function to submit a question
• Recorded meeting and PPT deck will be posted to the HR Analytics Work Group website
• On HR Analytics Work Group LinkedIn page you can ask the group and speakers additional questions after the meeting
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Next Meeting
Calculating ROI
Presented by Scott Mondore, PhD
August 23rd at 1:00pm EST
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