Workshop: Predictive Analytics to Understand and Control Flight Risk

Size: px
Start display at page:

Download "Workshop: Predictive Analytics to Understand and Control Flight Risk"

Transcription

1 Workshop: Predictive Analytics to Understand and Control Flight Risk Data science for deeper insights and more accurate predictions Peter Louch Founder and CEO (917)

2 Agenda Introductions Background: Predictive Analytics in Workforce Planning A Pragmatic Model for Predictive Analytics 2

3 Using Predictive Analytics in Workforce Planning Predictive Supply Analytics coupled with Demand Planning provides a blue print for Talent Management activities Business & Market Input: Strategies, Priorities, Market Environment, Maturity/ Growth State of Business, Budgets & Constraints Workforce Data: Demographics, Performance, Potential, Movement, Generational Shifts, Marketplace Talent Availability Talent Demand Staffing needs/timing by job role Productivity targets Scenarios: Impact of programs and changes (e.g., technology, customer demand) Cost of workforce Talent Supply Turnover risk Retirement risk Mobility projections Talent availability (industry surplus/shortage) Outcomes Guide Talent Management Talent Gap Prioritized Current State & Future State! Recruiting and Onboarding! Training and Development! Redeployment! Knowledge Transfer and Exits 3

4 Getting to Effective WFP What The Journey Looks like PERFORMANCE ILLUSTRATIVE " WFP Topic Poor Fair Effective Highly Effective Demand Planning Each manager decides on their need for talent. Managers have low industry experience Managers with high industry experience decide on their demand. Lead managers through a demand decision tree based on a job role criticality model Use demand drivers: e.g., oil & gas production workers per well path by project stage Internal Supply Analysis Don t factor in turnover Project forward turnover based on historical or industry rates Regression analysis to establish turnover, retirement and movement risk by job role Data mining, predictive analytics to establish risk of specific individuals External Supply Analysis Ignore market shortages when planning Use directional but stale data sources like BLS Avoid external supply analysis if there is not a tangible solution to offer the business Potentially, use big data solutions that mine actual market demand, labor supply Gap Analysis and Action Planning Use the WFP process for education / discussion but don t change behaviors based on the gap Use the gap to formulate hiring plans. Track performance against plan Use the gap to formulate a buildbuy-lease plan (i.e., recruit, development and contract out). Optimize where information available. Based on predictive analytics, respond with changes in hiring and talent management strategies and/or mitigate individual employee risks. 4

5 Challenges/Barriers to Use of Predictive Analytics Challenges/Barriers Basic confusion about retirement eligibility vs. retirement likelihood Traditional methods are poor at predicting the individuals who turn over and the timing Managers have gut feelings and anecdotes and don t want to listen to data Management won t act until they ve already felt the pain. Workforce analytics/planning function held responsible for data integrity issues (i.e., basic blocking/tackling issues that have low impact on forecasts by high impact on credibility) Change in business environment for utilities (e.g., lower customer demand, cost controls) have led to new employer-employee relationship with more turnover Potential Solutions Assume nothing, start every conversation showing the difference Use machine-learning statistics that allow for complex multi-variate analysis Get buy-in from senior leaders to help drive workforce agenda (better process for all) People buy insurance if they identify with the persona. Share stories of similar entities to estimate future pain, and then agree on ROI of avoiding it Create SLA with the customers of predictive analytics. Own the solutions consulting to solve data integrity issues and not the problems. Machine learning statistics allow sampling smaller data sets and less history to more quickly respond to changes in turnover drivers 5

6 Case Example: Challenges/Barriers to Use of Predictive Analytics Retirement at North American Utilities * Source: EUHRMG April 2013 Survey, conducted by Vemo Little connection between Retirement Eligibility and actual retirements Huge upside for using machine-learning statistics to create a much more accurate retirement forecast that the business can rely upon in talent planning 6

7 Case Example (cont d): Improvement opportunity using predictive analytics 163% Overshoot!" 326% Overshoot 67% Undershoot!"#$%&'"()"%*$)'$+'",&*-('%".%&'" /0"1+(.2",&,/&+%" 7

8 Case Example (cont d): Improvement opportunity using predictive analytics!"!"#$%&'"()"%*$)'$+'",&*-('%".%&'" /0"1+(.2",&,/&+%" 8

9 Case Example (cont d): Five-Year ROI from Predictive Modeling 9 Extra Hires Extra Hires Extra Hires 9 10 Extra Hires Extra Hires 9

10 Case Example (cont d): Five-Year ROI from Predictive Modeling 9 Extra Hires Extra Hires Extra Hires 9 10 Extra Hires Extra Hires 10

11 Case Example (cont d): Five-Year ROI from Predictive Modeling

12 Case Example (cont d): Five-Year ROI from Predictive Modeling ROI for company with 156 employees in target demographic: Total Extra Hires Without Model: 50 Total Extra Hires With Model: 4 Total Extra Hires Avoided = 46 Cost per Extra Hire X 100,000 ROI = $ 4,600,000 12

13 Predictive Analytics Model Pragmatic Five-Step Model $ Don t create impossible barriers to realizing benefits of Data Science Reference: Are You Recruiting A Data Scientist, Or Unicorn? Information Week, November 2013 The 5 step model shown above, proven through numerous engagements, breaks down into five interconnected workforce and predictive analytics activities that yield Data Science 13

14 Input $ Part 1: Data Acquisition Data Type Estimated Usage HR Action Data Standard Organizational Data 100% Employee Profile Data Standard Employee Data 100% Performance/Talent Management Data Supplemental Employee Data 60% Industry Data Benchmarking 30% Market Data Big Data 10% 14

15 $ Part 2: Data Transformation Input Throughput Differentiated Output (Attrition Example) HR Action Data Employee Profile Data Performance/Talent Management Data Industry Data Market Data Validation and Model Refinements Transformed Data (Data Warehouse of All Workforce Actions and Attributes) Refined Transformed Data (Additional Data Transformation to Optimize Data for Statistical Analysis) Traditional Statistical Models to Determine Correlation of Factors to Workforce Events (e.g., Attrition) Machine Forecast to Establish Risk of Workforce Events (e.g., Attrition) Segment entire workforce or specific populations (i.e., high value workforce) into risk bins (i.e., high-low or highmedium-low) Identify and micro-target populations for interventions Make policy/structural changes and measure improvement in turnover Institute changes in hiring practices and measure improvement in turnover In short, make dataguided management decisions 15

16 $ Part 3: Data Analysis Main Objectives of Data Analysis Key Drivers Analysis Identify the drivers of key outcomes (turnover, performance, retirement) Design interventions to improve outcomes Forecasting Pricing Estimate the flight risk for each employee Divide employees into risk bins Forecast other outcomes of interest, such as performance, engagement or retirement Data-driven Counterfactuals Model the likely impact of hypothetical events on outcomes (ie, how would a salary freeze affect turnover? ) Re-estimate forecast after simulated interventions 16

17 Multivariate Regression: The Principle $ By including a wide range of predictors in the same model, we can identify the relative importance of various drivers Several of our past turnover studies conform to the principle: 20% External Economic Conditions - Local Job Market - Stock Market - Other 40% Employer Actions / Pricing Pricing Workplace Conditions: - Promotions and Raises - Spans and Support Ratio - Work Environment - Salary Inequality - Manager Ratio 40% Employee Demographics - Tenure and Age - Job Type and Salary Range - Commute Time 17

18 $ Case Example of Driver Analysis Customer Business Unit X has 3 rd quartile turnover compared to peer group (i.e., not good but not horrible) Vemo Predictive Analytics used for turnover driver analysis, forecast, modeling interventions Scope Business unit has active regular employee headcount of ~4500 employees Excludes temporary and supplemental workers 18

19 Flight Risk by Tenure by Employee Level $ # Managers have typical pattern of flight risk diminishing as tenure increases # Professionals (individual contributor peers to Managers) have atypical pattern of increasing risk through Year 4, then sharp decrease in flight risk 19

20 $ Flight Risk by Salary by Grade Rank # Grade Ranks are 1 through 7, Director, Executive # For Grade Rank 1 and 2, very strong negative association between salary and flight risk # For Grade Rank 2-4, negative association between salary and flight risk # For Grade Rank 5-7, virtually no relationship between salary and flight risk Key The chart shows how flight risk varies across the typical salary range for each Grade Rank. The horizontal distance covered by each line corresponds to the typical salary range for that Grade Rank. 20

21 Flight Risk by Salary Inequality of Work Group $ # For low earners, a high level of salary inequality greatly increases flight risk # For middle of pay scale earners, salary inequality modestly increases flight risk # For high earners, salary inequality has no impact on flight risk # Structural reform to create work groups where similar workers are in each VP s group could have high retention impact, albeit with significant change Salary Inequality within Work Group (Department Owner 1) is a measure of overall distribution of pay within a workforce. A high level of salary inequality indicates that high earners make much more than the average level, and low earners make much less. In these graphs, moving from left to right the X-axis indicates that the level of salary inequality is increasing. 21

22 Flight Risk by Amount of Raise by Employee Type $ # Impact of raises varies significantly by Employee Type o Additional raises have highest impact for Employees, particularly for Employees receiving standard and sub-standard raise amounts o Additional raises have moderate impact for Professionals o Additional raises have little impact for Managers Workforce Type Employee Manager Professional Potential Intervention of 1% additional raise when current raise is 0-2% when current raise is 2-5% when current raise is 0-9% when current raise is 0-5% when current raise is 5-9% Impact High Impact Moderate Impact Low Impact Moderate Impact Diminishing Returns 22

23 $ Flight Risk by Recent Promotion # A promotion has a strong negative impact on flight risk in short term, however, the impact appears to diminish quickly over time o o Employees who have had promotion in last year are 85% less likely to turnover relative to employees who have not received promotion Employees who have had a promotion that occurred over 18 months have essentially the same flight risk as those who did not receive a promotion 23

24 Flight Risk by Lateral Transfer by Generation $ # Impact of lateral transfers varies dramatically by Age Generation o For Gen Y, there is a moderate impact it decreases flight risk by 22% o For Gen X, there is no impact o For Baby Boomers, there is strong adverse impact it increases flight risk by about 300% Key: A Lateral Transfer is a true job change without a promotion or demotion. For predictive modeling, it is typically important to ignore HRMS action codes and use business logic for promotions, demotions and lateral transfers. 24

25 $ Employee Turnover Forecast The forecasting model assigns employees to one of three configurable bins: 1) Highest Flight Risk 2) Moderate Flight Risk 3) Lowest Flight Risk Lowest Risk Bin Moderate Risk Bin Highest Risk Bin 25

26 Six-Month Forecast Summary Compared to Actuals $ # Chart shows predicted rolling 6-month turnover rates by Department Owner 3 Work Units with > 100 employees # Compares to historical 6-month forecasts vs. actuals which show good performance at aggregate level of forecast 26

27 Manipulating a Forecast to Explore Potential Interventions $ Forecasting models can be used to simulate the effect of a particular intervention on aggregate turnover rates The forecast is based in part on a certain set of assumptions (ie, the annual raise policy will remain at it s current level) By altering these assumptions (ie, by going into the data and assigning a 2% increase Pricing in the annual raise for each employee), we can simulate the likely impact of an intervention on turnover or other outcome variable 27

28 $ Simulating an Increase in Raises 2% 4% 0% 6% Assumed Annual Raise Amount 28

29 $ Simulating an Increase in Raises 2% 4% 0% 6% Assumed Annual Raise Amount 29

30 $ Simulating an Increase in Raises 2% 4% 0% 6% Assumed Annual Raise Amount 30

31 $ Simulating an Increase in Raises 2% 4% 0% 6% Assumed Annual Raise Amount 31

32 Predictive Analytics Model Pragmatic Five-Step Model $ Contact: Peter Louch Founder and CEO 32

33 Appendix: About Vemo About Vemo Founded in late 2005 by leading experts in workforce planning Our customer base is comprised of leading organizations who implement highly effective, sustainable enterprise workforce planning and analytics programs Subscription Software Automated and End User Workforce Planning Slice & Dice Workforce Analytics for Analysts Push Reporting and Scorecards for End Users Predictive Analytics Benchmarking Consortia Vemo Differentiators State-of-the-art data model that can work with any data source/client business rules. Unlimited scenario planning, using both strategic and operational demand drivers. Unique analytics product that allows non-expert line, operations and HR users to conduct deep analysis through on-demand charts/grids. Internal supply forecasting integrated into tool. Predictive analytics to improve talent management. Consultative approach Dedicated to customer success. Sample Vemo Customers 33

Explore the Possibilities

Explore the Possibilities Explore the Possibilities 2013 HR Service Delivery Forum Got Predictive Analytics? 2013 Towers Watson. All rights reserved. Reporting and analytics progress continuum current state of market Late Bloomers

More information

Using Predictive Analytics To Drive Workforce Optimization. New Insights From Big Data Analysis Uncover Key Drivers of Workforce Profitability

Using Predictive Analytics To Drive Workforce Optimization. New Insights From Big Data Analysis Uncover Key Drivers of Workforce Profitability Using Predictive Analytics To Drive Workforce Optimization New Insights From Big Data Analysis Uncover Key Drivers of Workforce Profitability Using Predictive Analytics To Drive Workforce Optimization

More information

Measuring your most important Asset: Human Capital

Measuring your most important Asset: Human Capital Measuring your most important Asset: Human Capital Workforce Analytics Training We are all familiar with the conventional HR metrics that are frequently used in organizations today Turnover rate, time

More information

Workforce Planning & Analytics: Advancing Your Organization s Capability

Workforce Planning & Analytics: Advancing Your Organization s Capability Workforce Planning & Analytics: How to Create or Advance Your Organization s Ability to Generate Actionable Workforce Insight Presented by Al Adamsen al.adamsen@talentstrategyinstitute.com 415-652-2745

More information

MERCER WEBCAST PREDICTIVE ANALYTICS How analytics can drive business success

MERCER WEBCAST PREDICTIVE ANALYTICS How analytics can drive business success MERCER WEBCAST PREDICTIVE ANALYTICS How analytics can drive business success 6 November, 2013 Brian Kelly, Partner, Global Practice Leader, Workforce Analytics & Planning Astik Ranade, Principal, Leader,

More information

TRENDS AND DRIVERS OF WORKFORCE TURNOVER

TRENDS AND DRIVERS OF WORKFORCE TURNOVER HEALTH WEALTH CAREER TRENDS AND DRIVERS OF WORKFORCE TURNOVER THE RESULTS FROM MERCER S 2014 TURNOVER SURVEY, AND DEALING WITH UNWANTED ATTRITION 16 July 2015 David Elkjaer & Sue Filmer TODAY S SPEAKERS

More information

Job Family Modeling. Tools to Support Job Evaluation and Career Development October 21, 2009. Vincent Milich

Job Family Modeling. Tools to Support Job Evaluation and Career Development October 21, 2009. Vincent Milich Job Family Modeling Tools to Support Job Evaluation and Career Development October 21, 2009 Vincent Milich Agenda What is job family modeling? What can job family modeling do for an organization? Unique

More information

COurse Workforce AnAlytics October 21-22, 2014 Marina del rey Marriott Los Angeles, CA euci is authorized by IACeT to offer 1.0 Ceus for the course.

COurse Workforce AnAlytics October 21-22, 2014 Marina del rey Marriott Los Angeles, CA euci is authorized by IACeT to offer 1.0 Ceus for the course. COurse Workforce Analytics Marina del Rey Marriott is authorized by IACET to offer 1.0 CEUs for the course. 1 Overview Within the last 5 years, we have moved from an environment where HR reporting and

More information

10 Big Data Insights for HR and Training

10 Big Data Insights for HR and Training 10 Big Data Insights for HR and Training Kellye Whitney Associate Editorial Director Chief Learning Officer magazine #CLOwebinar 10 Big Data Insights for HR and Training Karie Willyerd Vice President of

More information

HUMAN RESOURCES IN PUBLIC EDUCATION Where are we? Where should we be? Where HR Divisions should be. Where most HR Divisions are

HUMAN RESOURCES IN PUBLIC EDUCATION Where are we? Where should we be? Where HR Divisions should be. Where most HR Divisions are HUMAN RESOURCES IN PUBLIC EDUCATION Where are we? Where should we be? Human Capital Management Human Resources Department Personnel Department Levers: Differentiated Pay Career Ladders Distribution of

More information

State of Louisiana s Workforce Planning Model Right People, Right Skills, Right Jobs, Right Time

State of Louisiana s Workforce Planning Model Right People, Right Skills, Right Jobs, Right Time State of Louisiana s Workforce Planning Model Right People, Right Skills, Right Jobs, Right Time Table of Contents Introduction 2 What is Workforce Planning?...3 Why is Workforce Planning Important?.....3

More information

The Challenges in the Oil and Gas Industry through the HR Lens

The Challenges in the Oil and Gas Industry through the HR Lens The Challenges in the Oil and Gas Industry through the HR Lens Darwin, Australia 19 July, 2012 Presenter: Philip Askew Vice President, Australasia 0 By 2015, E&P industry will have achieved its crew change

More information

Speaker. Joni Pulido-Ferrier Value Advisor Expert HR Line of Business Value Engineering Australia, Pacific Japan, SAP

Speaker. Joni Pulido-Ferrier Value Advisor Expert HR Line of Business Value Engineering Australia, Pacific Japan, SAP Speaker Joni Pulido-Ferrier Value Advisor Expert HR Line of Business Value Engineering Australia, Pacific Japan, SAP 2 SuccessFactors Proprietary and Confidential 2014 SuccessFactors, An SAP Company. All

More information

Integrated Talent Management Presentation. University HR Benchmarking Conference 1 November 2013

Integrated Talent Management Presentation. University HR Benchmarking Conference 1 November 2013 Integrated Talent Management Presentation University HR Benchmarking Conference 1 November 2013 Introduction Evolution & Challenges of the HR Industry Strategic Talent Management 5 Step Framework for Talent

More information

The Challenge for HR Professionals:

The Challenge for HR Professionals: The Challenge for HR Professionals: Using workforce analytics to support business strategy and fact-based decision-making 2015 National EMSI Conference September 23, 2015 Welcome Lindsay Scott Principal,

More information

Migration Planning guidance information documents. Workforce Planning Best Practices

Migration Planning guidance information documents. Workforce Planning Best Practices Migration Planning guidance information documents Workforce Planning Best Practices October 7, 2011 Table of Contents 1. Purpose... 1 2. Workforce Analysis... 1 2.1 Workforce Analysis Framework... 2 2.2

More information

CEB Corporate Leadership Council. The Analytics Era: Transforming HR s Impact on the Business

CEB Corporate Leadership Council. The Analytics Era: Transforming HR s Impact on the Business CEB Corporate Leadership Council The Analytics Era: Transforming HR s Impact on the Business The volume of data available to HR has increased exponentially across the past 30 years. AN EXPLOSION OF TALENT

More information

Follow us: #LINKUS13. Talent Analytics: Big Data Benchmarks, Big Picture Answers

Follow us: #LINKUS13. Talent Analytics: Big Data Benchmarks, Big Picture Answers Follow us: #LINKUS13 Talent Analytics: Big Data Benchmarks, Big Picture Answers Follow us: #LINKUS13 Presenters Jeff Facteau, Ph.D. VP, Professional Services, SHL Michael Griffin Executive Director, HR

More information

Workforce analytics: Utilizing benchmarks to maximize performance

Workforce analytics: Utilizing benchmarks to maximize performance Workforce analytics: Utilizing benchmarks to maximize performance Dallas April 9, 2014 Your facilitators G Shebani Patel is a Director with PwC in the Saratoga practice. Shebani is responsible for helping

More information

U.S. Nuclear Regulatory Commission. Plan of Action Strategic Workforce Planning

U.S. Nuclear Regulatory Commission. Plan of Action Strategic Workforce Planning U.S. Nuclear Regulatory Commission Plan of Action Strategic Workforce Planning January 19, 2001 Strategic Workforce Planning Plan of Action January 19, 2001 Content Overview This plan of action outlines

More information

STRATEGIC WORKFORCE PLANNING LATEST TRENDS AND LEADING PRACTICE EXAMPLES

STRATEGIC WORKFORCE PLANNING LATEST TRENDS AND LEADING PRACTICE EXAMPLES STRATEGIC WORKFORCE PLANNING LATEST TRENDS AND LEADING PRACTICE EXAMPLES BERLIN, 21 MAY 2015 Julia Howes Mercer Workforce Analytics & Planning A WORKFORCE TSUNAMI IS APPROACHING COPYRIGHT MERCER 2015 STRATEGIC

More information

Talent as a Top Priority and Challenge

Talent as a Top Priority and Challenge Talent as a Top Priority and Challenge Talent is viewed as source of competitive advantage and driver of performance, but it remains a challenge for today s organizations. Mercer s 2013 Talent Barometer,

More information

METRICS TO HELP IMPROVE YOUR WORKFORCE PRODUCTIVITY

METRICS TO HELP IMPROVE YOUR WORKFORCE PRODUCTIVITY METRICS TO HELP IMPROVE YOUR WORKFORCE PRODUCTIVITY KEY RESULTS FROM MERCER 2013-2014 WORKFORCE METRICS DATABASE Tom Jacob, Mercer Ephraim Spehrer-Patrick, Mercer Milan Taylor, Mercer TODAY S PRESENTERS

More information

Buy versus Build Considerations for Clients Purchasing CLO Dashboard

Buy versus Build Considerations for Clients Purchasing CLO Dashboard Buy versus Build Considerations for Clients Purchasing CLO Dashboard Prepared by Zeroed-In Technologies for use by clients evaluating CLO Dashboard against their internal development of similar executive

More information

Supply Chain Talent: The Missing Link?

Supply Chain Talent: The Missing Link? Supply Chain Talent: The Missing Link? 11/8/2012 By Lora Cecere Founder and CEO Supply Chain Insights LLC Contents Research... 2 Research Methodology and Overview... 2 Executive Overview... 3 The State

More information

2012 Metrics and Analytics: Patterns of Use and Value. research. A report by WorldatWork and Mercer July 2012

2012 Metrics and Analytics: Patterns of Use and Value. research. A report by WorldatWork and Mercer July 2012 2012 Metrics and Analytics: Patterns of Use and Value research A report by WorldatWork and Mercer July 2012 Contact: WorldatWork Customer Relations 14040 N. Northsight Blvd. Scottsdale, Arizona USA 85260-3601

More information

Human Capital Financial Statements

Human Capital Financial Statements Presents: Human Capital Financial Statements April 19, 2011 About Human Capital Management Institute The Human Capital Management Institute (HCMI) was founded on the belief that organizations can and must,

More information

Succession Planning: What s Next?

Succession Planning: What s Next? www.pwc.com Succession Planning: What s Next? June 2015 This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not

More information

HR Metrics Interpretation Guide

HR Metrics Interpretation Guide Version 7.2 / August 2014 A data service owned and operated by: Welcome! This Interpretation Guide is designed to give you the information you need to interpret your metric and benchmarking results. This

More information

Boardroom-Ready Analytics: Actionable Metrics for Future Planning

Boardroom-Ready Analytics: Actionable Metrics for Future Planning A PeopleFluent Executive Brief Boardroom-Ready Analytics: Actionable Metrics for Future Planning Planning meetings. Strategy sessions. Status updates. No matter what you call it, monitoring your company

More information

Top Five Metrics for Workforce Analytics. by Human Capital Management Institute and HumanConcepts

Top Five Metrics for Workforce Analytics. by Human Capital Management Institute and HumanConcepts Top Five Metrics for Workforce Analytics by Human Capital Management Institute and HumanConcepts Introduction Over the past few years, organizations have done an unprecedented amount of restructuring,

More information

Age and Retirement Benchmarks: Key Analytics that Drive Human Capital Management

Age and Retirement Benchmarks: Key Analytics that Drive Human Capital Management Age and Retirement Benchmarks: Key Analytics that Drive Human Capital Management Contents Executive Summary...3 Introduction...4 The Importance of Big Data...5 Measuring What Matters Most...6 Data and

More information

The Leadership Mystery Defining Leadership Success through Competency Modeling and Workforce Analytics

The Leadership Mystery Defining Leadership Success through Competency Modeling and Workforce Analytics viapeople Insight - Whitepaper The Leadership Mystery Defining Leadership Success through Competency Modeling and Workforce Analytics Karen N. Caruso, Ph.D. Amanda Seidler, Ph.D. The Leadership Mystery:

More information

Strategic Workforce Planning

Strategic Workforce Planning Strategic Workforce Planning Jeff Lindeman, SPHR Chair, ACI-NA Human Resources Committee Director, Human Resources San Diego County Regional Airport Authority Agenda What is strategic anyway? Human Capital

More information

Integrating Contingent Labour into Strategic Workforce Planning

Integrating Contingent Labour into Strategic Workforce Planning Wednesday, 16 May 09:45 Nine Kings D Concurrent Session: Advanced Practitioner Track Integrating Contingent Labour into Strategic Workforce Planning Moderator: Barry Asin, President, Staffing Industry

More information

ANALYTIC AND PREDICTIVE TALENT MANAGEMENT: THE FUTURE IS NOW!

ANALYTIC AND PREDICTIVE TALENT MANAGEMENT: THE FUTURE IS NOW! ANALYTIC AND PREDICTIVE TALENT MANAGEMENT: THE FUTURE IS NOW! ANALYTIC AND PREDICTIVE TALENT MANAGEMENT A growing number of companies are opting for innovative approaches that allow them to manage their

More information

Oracle Real Time Decisions

Oracle Real Time Decisions A Product Review James Taylor CEO CONTENTS Introducing Decision Management Systems Oracle Real Time Decisions Product Architecture Key Features Availability Conclusion Oracle Real Time Decisions (RTD)

More information

Iowa State University University Human Resources Classification and Compensation Unit 3810 Beardshear Hall uhrcc@iastate.edu

Iowa State University University Human Resources Classification and Compensation Unit 3810 Beardshear Hall uhrcc@iastate.edu Iowa State University University Human Resources Classification and Compensation Unit 3810 Beardshear Hall uhrcc@iastate.edu Table of Contents INTRODUCTION... - 3 - SECTION I - EXTERNAL COMPETITIVENESS...

More information

The Era Of Intimate Customer Decisioning Is At Hand

The Era Of Intimate Customer Decisioning Is At Hand A Forrester Consulting Thought Leadership Paper Commissioned By FICO Decisions Based On An Informed, Intimate, And Immediate Understanding Of Customers Are the Next Normal January 2013 Table Of Contents

More information

Career Management. Making It Work for Employees and Employers

Career Management. Making It Work for Employees and Employers Career Management Making It Work for Employees and Employers Stuck in neutral. That s how many employees around the world would describe their career. In fact, according to the 2014 Global Workforce Study,

More information

THE HR GUIDE TO IDENTIFYING HIGH-POTENTIALS

THE HR GUIDE TO IDENTIFYING HIGH-POTENTIALS THE HR GUIDE TO IDENTIFYING HIGH-POTENTIALS What makes a high-potential? Quite possibly not what you think. The HR Guide to Identifying High-Potentials 1 Chapter 1 - Introduction If you agree people are

More information

Recruitment Process: Why Outsource?

Recruitment Process: Why Outsource? Recruitment Process: Why Outsource? Open House November 2010 Think differently about work. John Loukas Manpower Business Solutions Director 2 RPO - Agenda RPO Overview - Definition RPO as a Talent Acquisition

More information

The attraction, retention and advancement of women leaders:

The attraction, retention and advancement of women leaders: The attraction, retention and advancement of women leaders: Strategies for organizational sustainability BUSINESS CASE 1 Table of Contents Introduction Business Case 1 Barriers and Success Factors Overview

More information

Department of Human Resources

Department of Human Resources Workforce Services Workforce Policy and Planning Department Management/ Human Resource Information Systems Employee Relations Employment Compensation and Workforce Analysis Employee Benefits Organizational

More information

Business Process Services. White Paper. Predictive Analytics in HR: A Primer

Business Process Services. White Paper. Predictive Analytics in HR: A Primer Business Process Services White Paper Predictive Analytics in HR: A Primer About the Authors Tuhin Subhra Dey Tuhin is a member of the Analytics and Insights team at Tata Consultancy Services (TCS), where

More information

Consulting Performance, Rewards & Talent. Making Employee Engagement Happen: Best Practices from Best Employers

Consulting Performance, Rewards & Talent. Making Employee Engagement Happen: Best Practices from Best Employers Consulting Performance, Rewards & Talent Making Employee Engagement Happen: Best Practices from Best Employers The Challenge Companies across the globe are taking the initiative to administer and manage

More information

Ready, Set, Go! A Game Plan for Talent Management in the Midmarket

Ready, Set, Go! A Game Plan for Talent Management in the Midmarket Ready, Set, Go! A Game Plan for Talent Management in the Midmarket Introduction Organizations that have survived the global economy of the past few years have experienced the new business reality: the

More information

Reducing the Costs of Employee Churn with Predictive Analytics

Reducing the Costs of Employee Churn with Predictive Analytics Reducing the Costs of Employee Churn with Predictive Analytics How Talent Analytics helped a large financial services firm save more than $4 million a year Employee churn can be massively expensive, and

More information

Creating a Holistic and Sustainable Approach to Workforce Planning Globally at John Deere

Creating a Holistic and Sustainable Approach to Workforce Planning Globally at John Deere Creating a Holistic and Sustainable Approach to Workforce Planning Globally at John Deere Today s Presenters Brian Kelly Global Leader, Workforce Analytics & Planning Mercer brian,j.kelly@mercer.com Jacqueline

More information

Deloitte and SuccessFactors Workforce Analytics & Planning for Federal Government

Deloitte and SuccessFactors Workforce Analytics & Planning for Federal Government Deloitte and SuccessFactors Workforce Analytics & Planning for Federal Government Introduction Introduction In today s Federal market, the effectiveness of human capital management directly impacts agencies

More information

Best Practices in Workforce Demand Forecasting

Best Practices in Workforce Demand Forecasting Best Practices in Workforce Demand Forecasting The Vision for Intelligent Performance TM In 1997, Dr. Jac Fitzenz published the book The Eight Practices of Exceptional Companies based on his studies at

More information

The Human Capital Management Systems Business Case A Checklist to assist agencies developing a business case

The Human Capital Management Systems Business Case A Checklist to assist agencies developing a business case The Human Capital Management Systems Business Case A Checklist to assist agencies developing a business case Final version for release Human Capital Management See more at psc.nsw.gov.au/hcm Index - Business

More information

Workforce Planning Benefits

Workforce Planning Benefits Workforce Planning Benefits Seven Ways Workforce Planning Can Help Your Organization While surveys show that upwards of 90-percent of companies aren t getting the results they expected from a talent management

More information

Valuing Analytics & Predictive Modeling in Higher Ed

Valuing Analytics & Predictive Modeling in Higher Ed Valuing Analytics & Predictive Modeling in Higher Ed Michael Laracy CEO & Founder - Rapid Insight Inc.._ Michael Laracy, President, and CEO of Rapid Insight Inc., has had over 20 years of data analysis

More information

Utility Supply Chain Talent Management

Utility Supply Chain Talent Management Utility Supply Chain Talent Management Results from the ScottMadden UMMBC 2012 Survey Copyright 2012 by ScottMadden, Inc. All rights reserved. Many companies proudly claim that their employees are their

More information

White Paper. The Hidden Benefits of Human Resource Business Process Outsourcing (HR BPO) SOURCING ANALYTICS

White Paper. The Hidden Benefits of Human Resource Business Process Outsourcing (HR BPO) SOURCING ANALYTICS Helping Companies Optimize Their HR/ Benefits/Payroll Service Partnerships White Paper The Hidden Benefits of Human Resource Business Process Outsourcing (HR BPO) Contents Executive Overview 3 About the

More information

K-12 EDUCATION Introduction and Capabilities K-12 Education

K-12 EDUCATION Introduction and Capabilities K-12 Education K-12 EDUCATION Introduction and Capabilities Hanover provides high-quality, timely, and well-articulated services working closely with our staff. Whether working with staff who have significant grant and

More information

Data Mining and Predictive Modeling for HR Data Mining Techniques for Analyzing Voluntary Turnover. Jason Noriega jason.noriega@sandisk.

Data Mining and Predictive Modeling for HR Data Mining Techniques for Analyzing Voluntary Turnover. Jason Noriega jason.noriega@sandisk. Data Mining and Predictive Modeling for HR Data Mining Techniques for Analyzing Voluntary Turnover Jason Noriega jason.noriega@sandisk.com 1 Agenda Introduction Background and experience. What is Data

More information

Updated Requirements for Developing New Leaders and Onboarding New Hires

Updated Requirements for Developing New Leaders and Onboarding New Hires Updated Requirements for Developing New Leaders and Onboarding New Hires Over the past five years, companies have created efficiencies in operations while controlling headcount growth. The trend has been

More information

WORKFORCE MANAGEMENT ISSUES RELATED TO RETIREMENT PLANS

WORKFORCE MANAGEMENT ISSUES RELATED TO RETIREMENT PLANS WORKFORCE MANAGEMENT ISSUES RELATED TO RETIREMENT PLANS DECEMBER 11,2014 Arthur L. Noonan Senior Partner Determining Optimal Plan Design Retirement program designs are usually viewed through the lens of

More information

Recruitment Processing Outsourcing (RPO) 2013: Transforming Your Talent Acquisition Strategy

Recruitment Processing Outsourcing (RPO) 2013: Transforming Your Talent Acquisition Strategy Recruitment Processing Outsourcing (RPO) 2013: Transforming Your Talent Acquisition Strategy Recruitment Process Outsourcing (RPO) has undergone a seismic shift over the past few years. Long viewed as

More information

How Effectively Are Companies Using Business Analytics? DecisionPath Consulting Research October 2010

How Effectively Are Companies Using Business Analytics? DecisionPath Consulting Research October 2010 How Effectively Are Companies Using Business Analytics? DecisionPath Consulting Research October 2010 Thought-Leading Consultants in: Business Analytics Business Performance Management Business Intelligence

More information

Supply Chain Talent: A Broken Link in the Supply Chain

Supply Chain Talent: A Broken Link in the Supply Chain Supply Chain Talent: A Broken Link in the Supply Chain Five Proven Strategies to Close the Gaps 8/19/2014 By Lora Cecere Founder and CEO Supply Chain Insights LLC Contents Disclosure Research Research

More information

Organization and Operations. Metric Name Formula Description

Organization and Operations. Metric Name Formula Description Metric List Organization and Operations *Revenue Factor Revenue / Regular FTE Revenue per FTE. Workforce s Revenue Factor Revenue / Workforce On Payroll FTE Revenue per FTE (including all regular employees

More information

Workforce Planning: Strategic Insourcing Is Your Competitive Advantage!

Workforce Planning: Strategic Insourcing Is Your Competitive Advantage! Workforce Planning: Strategic Insourcing Is Your Competitive Advantage! A white paper from Workforce Planning: Strategic Insourcing Is Your Competitive Advantage! As of Q4 2010, consultants, independent

More information

HUMAN RESOURCE / WORKFORCE PLANNING AND DEPARTMENTAL PLANNING - SUPPLEMENT. A Guide to Integration and Alignment

HUMAN RESOURCE / WORKFORCE PLANNING AND DEPARTMENTAL PLANNING - SUPPLEMENT. A Guide to Integration and Alignment HUMAN RESOURCE / WORKFORCE PLANNING AND DEPARTMENTAL PLANNING - SUPPLEMENT A Guide to Integration and Alignment HR POLICY AND PLANNING DIVISION HUMAN RESOURCE BRANCH Public Service Secretariat April, 2008

More information

Workforce Management: Controlling Costs, Delivering Results

Workforce Management: Controlling Costs, Delivering Results Workforce Management: Controlling Costs, Delivering Results Organizations today must balance the need to run an efficient and costeffective operation while remaining agile and flexible to meet both customer

More information

Big Data. How it is Transforming Learning and Talent Development

Big Data. How it is Transforming Learning and Talent Development Big Data How it is Transforming Learning and Talent Development Agenda 1. Big Data Background 2. Big Data in Talent and Learning Analytics 3. Examples and Getting Started Big Data Defined Big Data.. The

More information

Big Data Analytics. A Game Changer for OD Practitioners. Michele Reeves, SAS. Technology & Tools Change & Agility Diversity & Culture

Big Data Analytics. A Game Changer for OD Practitioners. Michele Reeves, SAS. Technology & Tools Change & Agility Diversity & Culture Big Data Analytics A Game Changer for OD Practitioners Michele Reeves, SAS Technology & Tools Change & Agility Diversity & Culture Look Who s Talking I hope you learn 1. The difference between business

More information

Hitachi Consulting Growing to $1 Billion Organization Leveraging the Power of the Oracle Cloud. March 27, 2015. Better

Hitachi Consulting Growing to $1 Billion Organization Leveraging the Power of the Oracle Cloud. March 27, 2015. Better Hitachi Consulting Growing to $1 Billion Organization Leveraging the Power of the Oracle Cloud March 27, 2015 Better Chris Buri Chris Buri is the Vice President and CIO of Hitachi Consulting and joined

More information

HR Analytics In the Cloud

HR Analytics In the Cloud HR Analytics In the Cloud Ling Xiang Director, Product Management Copyright 2014, Oracle and/or its affiliates. All rights reserved. Safe Harbor Statement The following is intended to outline our general

More information

Mining productivity has declined 28% in the last 10 years. MineLens enables you to reverse the trend and improve productivity.

Mining productivity has declined 28% in the last 10 years. MineLens enables you to reverse the trend and improve productivity. Mining productivity has declined 28% in the last 10 years. MineLens enables you to reverse the trend and improve productivity. MineLens provides mining companies with the strategic business intelligence

More information

Steps in Developing a Recruiting Strategy: Part 1 of 2

Steps in Developing a Recruiting Strategy: Part 1 of 2 Steps in Developing a Recruiting Strategy: Part 1 of 2 From time to time Ascentii Executive Placement Solutions selects whitepapers and articles from external thought-leaders. This newsletter presents

More information

Talent Management: Why It s Critical for Business Success

Talent Management: Why It s Critical for Business Success Talent Management: Why It s Critical for Business Success Integrated talent management drives measurable results by aligning employee development to your business goals. Learn how. Contents Aligning Individual

More information

BUSINESS CONSULTING SERVICES Comprehensive practice management solutions for independent investment advisors

BUSINESS CONSULTING SERVICES Comprehensive practice management solutions for independent investment advisors BUSINESS CONSULTING SERVICES Comprehensive practice management solutions for independent investment advisors Insights, tools and resources to help you Accelerate Your Growth, Scale Your Business and Elevate

More information

TALENT MANAGEMENT AND PREDICTIVE ANALYTICS

TALENT MANAGEMENT AND PREDICTIVE ANALYTICS TALENT MANAGEMENT AND PREDICTIVE ANALYTICS The business of Talent Management (i.e. human capital management) can be variously described. In The Talent Management Handbook (2004, McGraw-Hill, Berger & Berger),

More information

BEATING THE HIRING CYCLE OIL AND GAS COMPANIES NEED TO REDESIGN THEIR HUMAN RESOURCES PROCESSES. Bill Heath Robert Peterson Susie Scott

BEATING THE HIRING CYCLE OIL AND GAS COMPANIES NEED TO REDESIGN THEIR HUMAN RESOURCES PROCESSES. Bill Heath Robert Peterson Susie Scott BEATING THE HIRING CYCLE OIL AND GAS COMPANIES NEED TO REDESIGN THEIR HUMAN RESOURCES PROCESSES Bill Heath Robert Peterson Susie Scott In the past 12 months, oil and gas companies have been forced to do

More information

Employee Engagement Drives Client Satisfaction and Employee Success in Professional Services

Employee Engagement Drives Client Satisfaction and Employee Success in Professional Services Employee Engagement Drives Client Satisfaction and Employee Success in In professional services, business success is achieved through employee success. Organizations that prioritize top talent gain competitive

More information

Business leaders are asking for more from

Business leaders are asking for more from HR s Role in Talent Management and Driving Business Results Business leaders are asking for more from everyone in their organizations. They want increased revenue and productivity. They need to reduce

More information

Human Capital in Analytically- Driven Organizations: Attracting, Developing and Retaining Talent in a Competitive Market

Human Capital in Analytically- Driven Organizations: Attracting, Developing and Retaining Talent in a Competitive Market Human Capital in Analytically- Driven Organizations: Attracting, Developing and Retaining Talent in a Competitive Market Presented by Rob Darby President at Homestate Companies What I Am Going To Talk

More information

A REPORT BY HARVARD BUSINESS REVIEW ANALYTIC SERVICES The Age of Modern HR. Sponsored by

A REPORT BY HARVARD BUSINESS REVIEW ANALYTIC SERVICES The Age of Modern HR. Sponsored by A REPORT BY HARVARD BUSINESS REVIEW ANALYTIC SERVICES The Age of Modern HR Sponsored by The Age of Modern HR Building human resources management systems that deliver ACROSS THE GLOBE, human resources

More information

Creating HR Service Delivery Success

Creating HR Service Delivery Success Creating HR Service Delivery Success HRO Today Forum Europe 2012 By Brad McCaw, Senior Consultant, London 2012 Towers Watson. All rights reserved. Setting the context Businesses are going through significant

More information

What specific talent groups will be necessary to achieving strategic business goals?

What specific talent groups will be necessary to achieving strategic business goals? NORTH AMERICAN CRITICAL TALENT FEB 2014 INTRODUCTION In August 2013, Mercer surveyed Canadian and US organizations regarding their critical talent practices. As the economy cautiously rebounds, global

More information

Onboarding 2013. A New Look at New Hires. April 2013 Madeline Laurano

Onboarding 2013. A New Look at New Hires. April 2013 Madeline Laurano Onboarding 2013 A New Look at New Hires April 2013 Madeline Laurano Page 2 Executive Summary The first impression an organization makes is often the most critical not only with customers and key stakeholders

More information

The what, why, when and how of Strategic Workforce Planning

The what, why, when and how of Strategic Workforce Planning Future-proof your workforce The what, why, when and how of Strategic Workforce Planning Susan DeFazio Table of contents 3 Introduction 5 What does good SWP look like? 7 Why SWP matters to risk & operational

More information

Learning and Analytics: Business Briefing

Learning and Analytics: Business Briefing Business Briefing SUCCESSFACTORS / Business Briefing : Business Briefing Why learning with analytics bridges the gaps in your workforce s capabilities, improves performance and delivers a quantifiable

More information

Introduction to Strategic Supply Chain Network Design Perspectives and Methodologies to Tackle the Most Challenging Supply Chain Network Dilemmas

Introduction to Strategic Supply Chain Network Design Perspectives and Methodologies to Tackle the Most Challenging Supply Chain Network Dilemmas Introduction to Strategic Supply Chain Network Design Perspectives and Methodologies to Tackle the Most Challenging Supply Chain Network Dilemmas D E L I V E R I N G S U P P L Y C H A I N E X C E L L E

More information

CEDARCRESTONE HR SYSTEMS SURVEY HIGHLIGHTS FOCUSING ON BI/ANALYTICS

CEDARCRESTONE HR SYSTEMS SURVEY HIGHLIGHTS FOCUSING ON BI/ANALYTICS CEDARCRESTONE HR SYSTEMS SURVEY HIGHLIGHTS FOCUSING ON BI/ANALYTICS Date: November 20, 2013 Time: 1:00pm 2:00pm EST 10:00am 11:00pm PST Length : 1 hour, including Q&A visier Visier l analytic applications

More information

TELLING STORY WITH DATA: GAINING SENIOR- LEVEL SUPPORT FOR ANALYTICS AND PLANNING

TELLING STORY WITH DATA: GAINING SENIOR- LEVEL SUPPORT FOR ANALYTICS AND PLANNING MERCER WEBCAST TELLING STORY WITH DATA: GAINING SENIOR- LEVEL SUPPORT FOR ANALYTICS AND PLANNING 24 September 2013 Astik Ranade, Principal Julia Howes, Principal Today s Presenters Julia Howes Principal,

More information

State of Washington. Guide to Developing Strategic Workforce Plans. Updated December 2008

State of Washington. Guide to Developing Strategic Workforce Plans. Updated December 2008 State of Washington Guide to Developing Strategic Workforce Plans Updated December 2008 Table of Contents Introduction... 3 What Is Workforce Planning?... 3 Workforce Planning Strategy Areas... 4 Strategic

More information

CHARLES STURT UNIVERSITY WORKFORCE PLANNING FRAMEWORK 2007 2011

CHARLES STURT UNIVERSITY WORKFORCE PLANNING FRAMEWORK 2007 2011 CHARLES STURT UNIVERSITY WORKFORCE PLANNING FRAMEWORK 2007 2011 1. DEFINITION... 1 2. CONTEXT... 1 3. STRATEGIC ALIGNMENT AND DRIVERS... 1 4. VALUES... 2 5. PRINCIPLES OF PRACTICE... 2 6. PERFORMANCE INDICATORS...

More information

Sales Force Turnover: The Crippling Expense Your CFO Doesn t Understand

Sales Force Turnover: The Crippling Expense Your CFO Doesn t Understand Sales Force Turnover: The Crippling Expense Your CFO Doesn t Understand Scott Sands Aon Consulting Trends in Sales turnover have been exactly what you would expect 20.00% 18.00% 16.00% 14.00% 12.00% 10.00%

More information

Human Capital Management Trends 2013

Human Capital Management Trends 2013 Human Capital Management Trends 2013 It s a Brave New World January 2013 Mollie Lombardi and Madeline Laurano Page 2 Executive Summary Human capital management is a key business initiative. Without insight

More information

Using Predictive Analytics to Increase Profitability Part II

Using Predictive Analytics to Increase Profitability Part II Using Predictive Analytics to Increase Profitability Part II Jay Roy Chief Strategy Officer Practical Intelligence for Ensuring Profitability Fall 2011 Dallas, TX Table of Contents A Brief Review of Part

More information

Planning for the impact of an Aging Workforce

Planning for the impact of an Aging Workforce Planning for the impact of an Aging Workforce Presentation to: NE Gas Association Maryjane Baer, Director US Recruiting Tom Bennett, Director Resource Planning April 2013 Agenda Workforce Trends in Engineering

More information

Making HR Strategic: Integrated Human Capital Management Holds the Key

Making HR Strategic: Integrated Human Capital Management Holds the Key Making HR Strategic: Integrated Human Capital Management Holds the Key Leveraging Integrated Human Capital Processes and Data to Optimize Organizational Success March 2005 A New Strategic Wave There is

More information

Global Oil & Gas Suite

Global Oil & Gas Suite IHS ENERGY Global Oil & Gas Suite Comprehensive analysis and insight on upstream opportunities, risk, infrastructure dynamics, and downstream markets Global Oil & Gas Suite Make optimal decisions about

More information

the growing demand for niche skills: HIGH TECH BY STEVEN SCOTT Vice President of Global Solutions

the growing demand for niche skills: HIGH TECH BY STEVEN SCOTT Vice President of Global Solutions the growing demand for niche skills: HIGH TECH BY STEVEN SCOTT Vice President of Global Solutions 2 THE HIGH TECH INDUSTRY has remained remarkably resilient in riding the economic roller coaster of recent

More information

ANALYTICS. Acxiom Marketing Maturity Model CheckPoint. Are you where you want to be? Or do you need to advance your analytics capabilities?

ANALYTICS. Acxiom Marketing Maturity Model CheckPoint. Are you where you want to be? Or do you need to advance your analytics capabilities? ANALYTICS Analytics defined Analytics is the process of studying data to identify potential trends, evaluate decisions, or assess the performance of a tool, event, or scenario. The process should include

More information

Numbers behind HR. Benchmarking. Workforce analytics

Numbers behind HR. Benchmarking. Workforce analytics Numbers behind HR Benchmarking 7 8 Workforce analytics 8 Workforce Analytics For several years, organizations have focused on the tactical information HR needs, and they ve used technology to drive it.

More information