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Avoid Analysis Paralysis (And Make Sense of Your HR Metrics) THEHRA January 26 – 28, 2014 San Antonio, TX
Agenda 2 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. Context from a historical perspective Introduction to HR metrics Linking metrics to analytics Discussion
HR Metrics 3 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential.
4 DRAFT Context from a Historical Perspective
Aligning HR with Business Strategy HR managers Emerge HR managers Emerge Mass production Mass production Hawthorne Studies Hawthorne Studies Employment at-will Employment at-will Labor Unrest Productivity Employee Protections Aging Workforce The Evolution of HR FROM COLLECTIVE BARGAINING TO STRATEGIC BUSINESS PARTNER 5 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. Sweatshops Lack of regulations Lack of regulations Growth of unions Taylorism Employee protections Standards: OSHA, FCRA Unionized workforce Equality: Equal Pay Act, Civil Rights Act, Age Discrimination Act Changing workforce demographics Worker protections: ADEA, ADA, FMLA, sexual harassment Worker protections: ADEA, ADA, FMLA, sexual harassment Introduction of COBRA and WARN in response to mass layoffs Documentation for immigrant workers Rapid technology growth
6 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. Metrics SocialPoliticalEconomic Technology “HR must give value or give notice.” (Dave Ulrich) Social, political, technology, and economic factors have influenced the work of HR professionals. Metrics are a driving force in today’s HR strategies. The Evolution of HR HR IN TODAY’S BUSINESS STRATEGY
7 DRAFT Introduction to HR Metrics
HR Metrics WHAT ARE METRICS? Metrics are measurable factors that can be used to demonstrate the contributions of HR strategies to an organization. 8 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. Headcount Time to fill Cost per hire Turnove r rate Absence rate Health cost per employee Revenue per FTE The items that can be measures within an organization seemingly are limitless.
HR Metrics WHY ARE METRICS IMPORTANT? 9 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. HR metrics provide evidence for the importance of aligning investments in human capital to business outcomes. “Without data we have only opinions.” (Jac Fitz-enz) Evidence of Employee Engagement Impacting Revenue Business leaders that demonstrate a high ability to engage employees can have 6% higher impact on revenue and profits when compared to leaders who have a lesser ability to engage employees Evidence of Discretionary Effort on Profitability At a retail store chain, higher levels of discretionary effort drove a 10% improvement in store profitability
Accountability & Measurement Turnover Headcount Employment costs per student Employment costs per grant Employment costs per revenue Employment costs relative to budget Workforce health and wellness Workforce competency as per performance management process Workforce total rewards position to market Etc. HR Strategy Metrics Metrics tied to the workforce’s efficiency and ability to meet university’s strategic objective(s) HR Program Metrics Metrics tied to effectiveness of HR Programs Performance review completion rates Comp actions taken (in and out of guideline Open jobs to position management plan Target jobs to market High value employee tracking ER complaints Benefit participation Health/Wellness participation Etc. HR Operating Metrics Metrics tied to the efficiency of the HR Operating Model Service Center questions answered Internal SLAs met Vendor SLAs met HR operating costs Time to fill Costs/hire Staffing efficiency Etc Each set of metrics should provide leading indicators to success further up the pyramid Not only should metrics be developed to measure performance/engagement, but also to hold distributed personnel accountable. 10 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential.
11 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. HR Metrics SHRM: 2012 Employee Job Satisfaction and Engagement Overall employee satisfaction has decreased since 2009.
12 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. HR Metrics SHRM: 2012 Employee Job Satisfaction and Engagement Respondents continuously have indicated opportunities to use skills/abilities and relationship with supervisor are most important to them.
13 DRAFT Linking Metrics to Analytics
14 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. The disconnect between metrics and analytics has resulted in organizations not using data to their advantage. Many HR organizations track metrics but fail to provide analytics. MetricsAnalytics Metrics Data that reflect some descriptive detail about given processes or outcomes Reporting Metrics provide information Analytics Strategies for combining data elements into metrics and for examining relationships or changes in metrics Reporting Analytics informs decisions Moving from Metrics to Analytics UNDERSTANDING THE DIFFERENCE
15 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. Due to the lack of understanding for how to effectively use data, the belief has developed that gathering more data will address business challenges. The era of big data has enabled organizations to store, access, and analyze more data than ever before, thereby complicating organizational decision making. Quotes from Executives* “We track metrics such as employee engagement, but we don’t really know what to do with them. “We collect data on everything, and spend more time analyzing them than doing anything about them.” “Employee data can be related to business outcomes?” *Source: Bloomberg Businessweek Moving from Metrics to Analytics UNDERSTANDING THE DIFFERENCE The rate at which the volume of data will continue to grow per year 60% The proportion of business professionals who rate HR staff as competent to analyze data 27%
16 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. Step One Collect the ‘right’ data Step Two Transform data into usable informatio n Step Three Develop action- oriented reports Adopt a strategy aimed at gathering specific data needed to address specific business objectives. Moving from Metrics to Analytics THREE STEP SOLUTION
17 © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. Three Challenges to Improving HR’s Role in Linking Metrics to Analytics “Criticality” – only 17% of business leaders agree that HR focuses on the right questions “Capability” – 80% of HR leaders agree that HR lacks the capability to improve HR analytics “Credibility” – only 18% of business leaders agree that HR can be trusted when it comes to human capital analytics Solutions Work with stakeholders to identify key HR priorities What types of data do they need to make informed business decisions? Consider developing a “workforce analytics” team within HR Moving from Metrics to Analytics CHALLENGES AND SOLUTIONS
18 DRAFT Discussion
DRAFT Concluding Thoughts © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. 19 Without analytics, metrics lack a clear objective and/-or a connection to business performance. TopicDiscussion Questions Metrics How can HR professionals manage metrics and how should action be taken to address areas of deficiency identified by the metrics? Moving from Metrics to Analytics How can HR professionals equip decision makers with useful metrics—including metrics that make sense, are of interest to the audience to which they’re being delivered, and can be tied directly to the strategy and vision of the organization? Linking Analytics to Business Outcomes How can your organization link metrics to business outcomes?
20 DRAFT Appendix: About Huron Higher Education
DRAFT Huron’s Higher Education Practice © 2013 Huron Consulting Group. All Rights Reserved. Proprietary & Confidential. 21 Huron understands the culture of higher education and we understand the need for customized solutions that account for unique university environments. Huron possess the full spectrum of attributes needed to supplement its client’s efforts – including unmatched experience in higher education budgeting, operational improvement and technology. Huron Education is dedicated to serving higher education and academic medical center institutions. We have a large team of professionals with extensive knowledge and direct experience in your industry to deliver the most comprehensive services to improve business performance across the enterprise. Our Professionals have worked with preeminent higher education institutions. We have helped more than 96 of the top 100 U.S. and 50 of the top 100 global institutions maintain standards of quality and improve performance. Our experience working across educational systems gives us a unique perspective in designing and implementing innovative solutions for forward-thinking, mission-driven institutions.
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