Predictive HR Analysis

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There have been quite a few advancements in business in the past few years, but changes in HR have mostly been legislative or technological in nature. The basics of what we do is still very much the same as it was fifty years ago. Only in the last 10 years have we been able to even begin discussion about our strategic role in the company and our ability to contribute to the bottom line in earnest. Even now many companies don't have a full-fledged HR department, let alone a business partner that has equal say in the direction a firm takes moving forward.

BUT! There is a light at the end of that tunnel, and that light, in my honest opinion, is predictive HR analysis. Change, I feel, must often come from the bottom, and in this case, using predictive tools and the bright minds of many HR professionals, we can solidify our value as more than just a cost centre because we will have proven metrics like never before about the cost and value of the workforce.

Now, this type of thinking has been around for a while. In fact, a couple of years ago I conducted more than one predictive analysis (with varying levels of success). Analysis is where my passion really is, so I dig into such projects with an enthusiasm normally reserved for sporting events and cheesy 80's action movies (my guilty pleasure).

The wonders of HR analysis is that it allows employers, with very little added resources if any, completely reshape they way they do business by changing the way in which they deal with the public (through recruiting), employees, and ex-employees. The best part is that it could very well have dramatic impacts on the bottom line.

Some of the things an HR analysis can tell you:

• What are the characteristics and traits of your top performers? What credentials, experience, and education do these traits align with?
• Why do your top performers leave?
• What are the most effective incentives?
• How can we get more out of our people?

A lot of these questions are pretty general, which means a good answer will require tremendous amount of data to play with. It is our most important tool. Being able to document every step of the recruiting process, keeping application forms on file, digitalizing any disciplinary action, these are all pieces of the best practices puzzle HR analysts can help you put together.

Some of these questions you can get with other means, but you will never get the full picture without an HR perspective, and HR analysis can help your company use your funds more effectively and turn your employees and HR policies into your competitors' worst nightmare.