Maximize performance with better data

Developing a successful workforce requires more than a gut check. Data can help guide your decisions on everything from where to seat a team to optimizing production processes to engaging with your employees in ways that ring true to them.

People analytics is the study of your number one business asset-your people-and this book shows you how to collect data, analyze that data, and then apply your findings to create a happier and more engaged workforce.

• Start a people analytics project
• Work with qualitative data
• Collect data via communications
• Find the right tools and approach for analyzing data

If your organization is ready to better understand why high performers leave, why one department has more personnel issues than another, and why employees violate, People Analytics For Dummies makes it easier.

Mike West was a founding member of the first people analytics teams at Merck, PetSmart, Google, and Children's Health Dallas before starting his own firm, PeopleAnalyst, LLC. He has helped companies large and small design people analytics applications and start their own people analytics teams. Mike brings a unique perspective about how to use data to create winning companies and great places to work.

Klappentext

• Learn how top companies use people analytics
• Analyze data to quantify your investment in people
• Use feedback to create a winning people culture

Get more from your #1 investment - your employees

Developing a successful workforce requires more than instinct. Data helps guide decisions on how to hire quality employees and keep them satisfied. This book shows how to build a people analytics strategy and apply your findings toward creating a more engaged workforce. If your organization wants to understand why you miss headcount targets, why high performers leave, or why one department has more production issues than another, this book is for you.

Inside...

• Quantify the employee journey
• Measure employee lifetime value
• Create more commitment, alignment, and motivation
• Find where to focus resources
• Make staffing predictions
• Learn what works for your firm with experiments
• Avoid people analytics pitfalls

Introduction 1

About This Book 1

Foolish Assumptions 2

Icons Used in This Book 3

How This Book is Organized 3

Part 1: Getting Started with People Analytics 3

Part 2: Elevating Your Perspective 4

Part 3: Quantifying the Employee Journey 4

Part 4: Improving Your Game Plan with Science and Statistics 5

Part 5: The Part of Tens 5

Beyond the Book 5

Where to Go from Here 7

Part 1: Getting Started With People Analytics 9

Chapter 1: Introducing People Analytics 11

Defining People Analytics 12

Solving business problems by asking questions 14

Using people data in business analysis 19

Applying statistics to people management 20

Combining people strategy, science, statistics, and systems 21

Blazing a New Trail for Executive Influence and Business Impact 22

Moving from old HR to new HR 22

Using data for continuous improvement 24

Accounting for people in business results 24

Competing in the New Management Frontier 25

Chapter 2: Making the Business Case for People Analytics 27

Getting Executives to Buy into People Analytics 29

Getting started with the ABCs 29

Creating clarity is essential 30

Business case dreams are made of problems, needs, goals 30

Tailoring to the decision maker 31

Peeling the onion 32

Identifying people problems 34

Taking feelings seriously 35

Saving time and money 36

Leading the field (analytically) 37

People Analytics as a Decision Support Tool 38

Formalizing the Business Case 40

Presenting the Business Case 41

Chapter 3: Contrasting People Analytics Approaches 43

Figuring Out What You Are After: Efficiency or Insight 44

Efficiency 44

Insight 45

Having your cake and eating it too 46

Deciding on a Method of Planning 47

Waterfall project management 47

Agile project management 47

Choosing a Mode of Operation 50

Centralized 51

Distributed 52

Part 2: Elevating Your Perspective 55

Chapter 4: Segmenting for Perspective 57

Segmenting Based on Basic Employee Facts 58

Just the facts, ma'am 58

The brave new world of segmentation is psychographic and social 62

Visualizing Headcount by Segment 62

Analyzing Metrics by Segment 63

Understanding Segmentation Hierarchies 65

Creating Calculated Segments 68

Company tenure 68

More calculated segment examples 72

Cross-Tabbing for Insight 74

Setting up a dataset for cross-tabs 74

Getting started with cross-tabs 75

Good Advice for Segmenting 78

Chapter 5: Finding Useful Insight in Differences 79

Defining Strategy 80

Focusing on product differentiators 83

Identifying key jobs 85

Identifying the characteristics of key talent 86

Measuring If Your Company is Concentrating Its Resources 87

Concentrating spending on key jobs 88

Concentrating spending on highest performers 88

Finding Differences Worth Creating 93

Chapter 6: Estimating Lifetime Value 95

Introducing Employee Lifetime Value 96

Understanding Why ELV Is Important 97

Applying ELV 99

Calculating Lifetime Value 101

Estimating human capital ROI 102

Estimating average annual compensation cost per segment 103

Estimating average lifetime tenure per segment 103

Calculating the simple ELV per segment by multiplying 104

Refining the simple ELV calculation 106