HRO Today April 2016 - 29

Talent Management
Forecasting
The Future
Using predictive analytics instead of past statistics for HR decisions
creates business benefi ts.
By Michael Beygelman
Meaningful HR analytics speed the data-to-action cycle,
reducing the traditional time lag to realize business
benefi ts 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 machinelearning
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 benefi ts.
Effectiveness of Talent Attraction Channels
Most companies have multi-pronged strategies for
addressing their recruitment advertising and talent
attraction channels, but not all channels are equally
effective. Implementing predictive analytics to identify
the most effective channels can help a company save
money, which appeals to the company's CFO. Even more
importantly, this will help attract more relevant candidates
and reduce time to fi ll open vacancies, which is a multiplier
in terms of positive real-world business impact.
Success of New Hires
An IT analyst supporting HR at a top Wall Street fi rm
recently shared one of their attempts at integrating
predictive analytics into the recruitment process. This
fi rm has defi ned a reference profi le of a successful
internal employee for every job description, and each
new applicant is automatically benchmarked against the
reference profi le when they apply for the same job.
This predictive model scores the likelihood of the new
applicant being a top performer in the new role based
on the historical performance of the benchmark profi le
in the same role. Based on this score, the applicant is
prioritized into the recruitment funnel. The net business
benefi t is that recruiters are talking fi rst to the candidates
recommended by the predictive model, and, so far, the
results have been encouraging.
Employee Engagement
The reality is that most employee surveys are on the verge
of becoming obsolete. Just how reliable is a self-reported
survey anyway? Ask employees how they feel about
their company or their boss a week before performance
bonuses are to be paid, and you will get a fl uorescent
green scorecard. Ask the same question a month later and
you will get a very different answer.
While self-reported surveys might produce really nice
graphs and charts, or infographics, what actionable
business value do they really create, and most importantly
what do you do next? Measuring the intensity of
employees' job-seeking activities outside of your company
is probably the single biggest proxy for engagement. If
employees are looking for work outside of your company,
clearly they are not engaged.
APRIL 2016 | www.hrotoday.com
[29]
http://www.hrotoday.com

HRO Today April 2016

Table of Contents for the Digital Edition of HRO Today April 2016

HRO Today April 2016 - 1
HRO Today April 2016 - 2
HRO Today April 2016 - 3
HRO Today April 2016 - 4
HRO Today April 2016 - 5
HRO Today April 2016 - 6
HRO Today April 2016 - 7
HRO Today April 2016 - 8
HRO Today April 2016 - 9
HRO Today April 2016 - 10
HRO Today April 2016 - 11
HRO Today April 2016 - 12
HRO Today April 2016 - 13
HRO Today April 2016 - 14
HRO Today April 2016 - 15
HRO Today April 2016 - 16
HRO Today April 2016 - 17
HRO Today April 2016 - 18
HRO Today April 2016 - 19
HRO Today April 2016 - 20
HRO Today April 2016 - 21
HRO Today April 2016 - 22
HRO Today April 2016 - 23
HRO Today April 2016 - 24
HRO Today April 2016 - 25
HRO Today April 2016 - 26
HRO Today April 2016 - 27
HRO Today April 2016 - 28
HRO Today April 2016 - 29
HRO Today April 2016 - 30
HRO Today April 2016 - 31
HRO Today April 2016 - 32
HRO Today April 2016 - 33
HRO Today April 2016 - 34
HRO Today April 2016 - 35
HRO Today April 2016 - 36
HRO Today April 2016 - 37
HRO Today April 2016 - 38
HRO Today April 2016 - 39
HRO Today April 2016 - 40
HRO Today April 2016 - 41
HRO Today April 2016 - 42
HRO Today April 2016 - 43
HRO Today April 2016 - 44
HRO Today April 2016 - 45
HRO Today April 2016 - 46
HRO Today April 2016 - 47
HRO Today April 2016 - 48
HRO Today April 2016 - 49
HRO Today April 2016 - 50
HRO Today April 2016 - 51
HRO Today April 2016 - 52
HRO Today April 2016 - 53
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-chro-today-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-november-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-may-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-march-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-july-august-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-january-february-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-april-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-september-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-october-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-june-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-december-2019
https://www.nxtbook.com/sharedxpertise/sharedxpertise/chro-today-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-may-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-april-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-september-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-october-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-november-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-march-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-june-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-january-february-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-july-august-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-december-2018
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-september-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-october-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-november-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-march-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-june-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-july-august-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-january-february-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-may-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-december-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-april-2017
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-september-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-october-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-december-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-november-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-may-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-march-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-june-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-january-february-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-july-august-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-april-2016
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-october-2015
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-november-2015
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-july-august-2015
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-september-2015
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-june-2015
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-april-2015
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-july-august-2014
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-november-2014
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-october-2014
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-december-2014
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-january-february-2015
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-june-1014
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-may-2014
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hro-today-april-2014
https://www.nxtbook.com/sharedxpertise/sharedxpertise/hrot-january-february-2014
https://www.nxtbookmedia.com