Still another analyzed how to improvecustomer satisaction and workorceperormance in its retail channeland was able to achieve double-digitgrowth in sales productivity. In eachcase, the companies were able to avoidother remedies that would have beenmore costly and less productive.How did these organizations do it?Through talent analytics—a precise,science-based analysis o employeeperormance and how a workorce issupported. This ability to process literally millions o data points can helpexecutives make decisions based onobjective data rather than hunches andintuition. And by giving organizationsnew insights into the patterns in work-orce and HR perormance that spur innovation and improve business peror-mance, talent analytics can also providethem with a real talent advantage.In addition to oering signicantorganizational improvements, talentanalytics is giving HR executives not just a seat at the table but the basis or strategic discussions with the C-suitebased on the substantive insightsprovided by hard numbers and theability to more accurately predict thelikely business outcomes o dierentkinds o talent initiatives. It is alsohelping companies prioritize and ocuson those initiatives that are more likely to have a signicant impact onproductivity, customer experience andcost management. Furthermore, it isimproving hiring and retention by identiying the actors and capabilitiesthat are best matched to a particular job. And it’s supporting businessstrategy in more substantive ways, suchas increasing topline productivity.
The journey to better ROI
Not surprisingly, companies are atdierent points along the journey toa better return on their talent analyticsinvestments. Where they are is aunction o not only the maturity o the organization’s data environmentbut also the analytics tools beingused, level o available analyticsskills, and the ability to push insightsinto key processes and decisions(see sidebar, page 6).Companies can begin by improvingtheir basic reporting capabilities; thenwork on improving such unctions asrecruiting, training and retention;and nally move into broader areas,such as workorce planning andorganizational change. Ultimately,the goal is to develop more advancedanalytics capabilities that enablecompanies to optimize perormanceand even predict which workorcechanges and investments are likely toproduce the best results.
One company, aced with high attrition among itsmanagers, was able to discover the root cause, addressthe issues and improve retention. Another successully perormed a diagnostic o its enterprise learningcapabilities to determine which orms o trainingwould have the greatest impact on perormance.
Improving HR reporting
Many companies are still struggling just to get basic reporting right. Insome instances, they may not evenknow exactly how many peoplework or them, in what jobs and inwhat regions. And many still rely on rst-generation spreadsheets tomanage HR data.