The new HR analytics : predicting the economic value of your company's human capital investments

In his landmark book The ROI of Human Capital , Jac Fitz-enz presented a system of powerful metrics for quantifying the contributions of individual employees to a company's bottom line. The New HR Analytics is another such quantum leap, revealing how to predict the value of future human capital investments. Using Fitz-enz's proprietary analytic model, readers learn how to measure and evaluate past and current returns. By combining those results with focused business intelligence and applying the exclusive analytical tools in the book, they will be able Evaluate and prioritize the skills needed to sustain performance - Build an agile workforce through flexible Capability Planning - Determine how the organization can stimulate and reward behaviors that matter - Apply a proven succession planning strategy that leverages employee engagement and drives top-line revenue growth - Recognize risks and formulate responses that avoid surprises - Support decision making by predicting the actions that will yield the best returns Brimming with real-world examples and input from thirty top HR practitioners and thought leaders, this groundbreaking book ushers in a new era in human resources and human capital management. CONTENTS......Page 8 HR as an Expense......Page 12 The Introduction of Metrics......Page 13 The Organization of This Book......Page 14 Acknowledgments......Page 16 CONTRIBUTORS......Page 18 PART ONE: INTRODUCTION TO PREDICTIVE ANALYTICS......Page 28 CHAPTER ONE: Disruptive Technology: The Power to Predict......Page 30 What Is Analytics?......Page 31 The Value of Insight......Page 32 The Plan......Page 33 The Language of Metrics and Analytics......Page 35 Ascending the Value Ladder......Page 37 The Power of Analytics......Page 41 The Model for Predictive Management......Page 42 Why Analytics Is Important......Page 44 PART TWO: THE HCM:21® MODEL......Page 72 CHAPTER THREE: Scan the Market, Manage the Risk......Page 74 The Big Picture......Page 75 The Value of Statistical Analysis......Page 79 The Importance of Risk Assessment......Page 80 The Data Speak for Predictive Management......Page 82 How to Improve HR Processes......Page 83 CHAPTER FOUR: The New Face of Workforce Planning......Page 112 Human Resources Versus Human Capital Planning......Page 113 Jumping Ahead of the Competition......Page 120 How to Put Capability Planning into Practice......Page 121 Any Process: Input, Output, Throughput......Page 168 Process Analysis for Human Resources......Page 170 A Broader Future View......Page 174 The Integration of HR Services......Page 178 How They Are Applying It......Page 180 CHAPTER SIX: Turning Data into Business Intelligence......Page 209 Avoiding Common Metrics Mistakes......Page 210 Second-Generation Metrics: Benchmarking......Page 211 Third-Generation Metrics: Predictive Analytics That Yield Business Intelligence......Page 212 At the End of the Day......Page 218 How to Interpret the Data......Page 219 PART THREE: THE MODEL IN PRACTICE......Page 242 CHAPTER SEVEN: Impacting Productivity and the Bottom Line: Ingram Content Group......Page 244 CHAPTER EIGHT: Leveraging Human Capital Analytics for Site Selection: Monster and Enterprise Rent-A-Car......Page 251 CHAPTER NINE: Predictive Management at Descon Engineering......Page 267 CHAPTER TEN: Working a Mission-Critical Problem in a Federal Agency......Page 286 CHAPTER ELEVEN: UnitedHealth Group Leverages Predictive Analytics for Enhanced Staffing and Retention......Page 292 PART FOUR: LOOKING FORWARD......Page 298 What We Know About Tomorrow......Page 300 What Analytics Can Deliver for Your Organization......Page 301 Thought Drives Action......Page 302 Views of the Future: Human Capital Analytics......Page 303 APPENDIX: THE HCM:21® MODEL: SUMMARY AND SAMPLES......Page 328 B......Page 359 C......Page 360 E......Page 361 H......Page 362 I......Page 363 M......Page 364 P......Page 365 R......Page 366 T......Page 367 W......Page 368 ABOUT THE AUTHOR......Page 369

ADVANCE PRAISE FOR THE NEW HR ANALYTICS

“Dr. Jac Fitz-enz . . . has now defined and shaped predictive analytics that define more clearly how today’s metrics can predict and lead to tomorrow’s successes.” — Dave Ulrich, Professor, Ross School of Business, University of Michigan, and Partner, The RBL Group

“In The New HR Analytics Jac Fitz-enz extends his decades of leadership in human capital measurement. It is a call to action that should inspire leaders to rethink their assumptions and improve their decisions.” — John Boudreau, Professor, Management & Organization, and Research Director, Center for Effective Organizations, University of Southern California

“. . . a comprehensive Human Capital Management framework and a very practical set of action-oriented recommendations that together enable you to leverage the one thing that makes your organization truly unique: your human talent.” — James P. Ware, Executive Producer, Work Design Collaborative LLC

“Predictive analytics is what we’ve been waiting for because it’s the next level of understanding in Dr. Jac’s long and evolving journey to empower us with the core tools, terminology, and logic to make a difference.” — Ed Kleinert, Administrator, HR Information Technology, Memorial Sloan-Kettering Cancer Center

“Dr. Jac Fitz-enz continues to provide the thought leadership businesses need now more than ever when it comes to human capital management.” — Shyam Patel, COO, People Report

“The New HR Analytics is the breakthrough people management playbook. . . . The HCM:21® model introduces leading-edge predictive techniques that maximize return on human capital investments while energizing and engaging employees.”— Ken Scarlett, President, Scarlett Surveys International

“Once again, Dr. Jac has led the way with critical research that enables organizations to create sustainable value through people.” — Kent Barnett, CEO, KnowledgeAdvisors

“Jac Fitz-enz . . . is a powerful lighthouse who enlightens the long way from the old human resources department to the new human capital strategic partner. . . . an important milestone in human capital history.” — Luis María Cravino, Cofounder and Codirector, AO Consulting S.A., Buenos Aires

Using Fitz-enz's proprietary analytic model, you will be equipped to measure and evaluate past and current returns and apply the information to make predictions about the future value of human capital investments.In his landmark book, The ROI of Human Capital, Jac Fitz-enz presented a system of powerful metrics for quantifying the contributions of individual employees to a company's bottom line. Now, in The New HR Analytics, he reveals how human resources professionals can apply this expense-based knowledge to make the most strategic staffing decisions for their companies.You'll learn how to:evaluate and prioritize the skills needed to sustain performance;build an agile workforce through flexible Capability Planning;determine how the organization can stimulate and reward behaviors that matter;apply a proven succession planning strategy that leverages employee engagement and drives top-line revenue growth;and recognize risks and formulate responses that avoid surprises.Brimming with real-world examples and input from thirty top HR practitioners and thought leaders as well as exclusive analytical tools, The New HR Analytics ushers in a new era in human resources and human capital management. "Jac Fitz-enz ... is a powerful lighthouse who enlightens the long way from the old human resources department to the new human capital strategic partner ... an important milestone in human capital history."--Luis Maria Cravino, Cofounder and Codirector, AO Consulting S.A., Buenos Aires --Book Jacket.