Anthropologist and Pulitzer winner, Jared Diamond declared that ‘a society’s ability to grow/expand and make new conquests is directly linked with its availability of embracing innovative and disruptive technologies.’ Nowadays, at the end of each year, it has become the norm to ‘start the race’ in predicting future trends in any industry imaginable and HR is no different. However, predictions have never been easy to make. As Philip E. Tetlock stated – Professor of Psychology and Political Sciences at both the University of Pennsylvania and at Wharton School of Business – we are facing an uphill battle in our capacity to forecast future trends of events.
Visionaries (innovators and ‘early adopters’ alike) are the people who are setting new standards, are changing the status quo and creating new possibilities. Just think about the vision necessary to allow people to fly for the first time at the beginning of the 20th century.
At this rate, it has been estimated that investments in the global sector of human resource management (HRM) will reach 30 billion dollars in 2025.
In other words, the creation of innovative HR solutions is in a continuous expansion, whilst the field of human resources is currently experiencing a fantastic influx of innovation.
Uncertainty in the current economic climate, the progresses made in the field of technology and the extensive disruptions in the labor market have put organizations under more pressure than ever before.
Although predicting the future is troublesome, it is also essential to identify and to understand social, economic and technological fundamental trends or ‘mega trends’ which will affect organizations in the next ten to twenty years in order to anticipate and prepare ourselves for the transformations that will supersede.
This year, on the 9th and 10th of October, at Kronwell Hotel in Brașov, the Great People Inside Conference: Visionary HR will generate, along these two days, interesting and provocative discussions in regards to modern pressing issues such as digitalization, artificial intelligence, autonomous learning and current technologies are profoundly changing the management practices of HR and the way in which we can create a future centred on people. For more details regarding the event you can check it outhere!
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Back in 2017, in Deloitte’s Human Capital Trends report, it has been revealed that people analytics was a top trend and a top priority for every respectable organisation. 71% of companies that were surveyed for the report have stated that people analytics is of great priority.
It has become more and more evident that data analytics in HR have become to matter more than ever before. Although people skills remain a top priority for every HR manager, there are numerous companies and non-profit organisations that are using data and are calculating everything from talent acquisition and productivity to retention and job structure. This shift towards data and analytics is saving businesses tremendous amounts of money.
Furthermore, the data which is being collected is being used by analytics experts and HR managers alike to study and learn more about employee behaviour, overtime patterns, how people relate with each other in the workplace, time management – all of this to better understand their workforce and how to boost the company’s performance and production.
Oracle is another company that has been doing its very own global survey in order to better grasp where HR is in terms of analytical functionality within an organisation. Their findings have revealed that HR departments are one of the most analytical in various companies, and it’s even pulling ahead a bit in relation to the Finance department. Some HR departments are actually using the latest technology in predictive and prescriptive models and, in some specific cases, artificial intelligence.
This is an enormous shift from ten years ago when studies began to arise in talent analytics. At that time, the only player that was using sophisticated HR analytics was Google. Back in those days, there was a ‘normal’ amount of reporting that was happening, but there wasn’t anyone designated to predict. A minority of HR organisations even had an analytics employee. To better put things into perspective, ‘HR analytics’ was typically understood as a conversation about the total number of employees the company had and how to better measure the employees’ level of engagement.
Even before the surveys from Deloitte or Oracle came out, there was a definite shift in trends in today’s modern organisation. Most multinational corporations have a few employees, specifically, to just analyse data. Nowadays, there are various conferences around the world tailored to this specific topic. Organisations now alter or adapt the way they do business in order to shape growth, engagement and other variables which are considered key.
The aforementioned Oracle survey involved 1,510 respondents from 5 continents and 23 countries. Through these respondents, there were senior managers, vice-presidents and directors from HR (61%), 28% from Finance and 10% from general management. It is also important to know that all executives that have participated were from businesses with at least 100 million dollars in revenue. The detailed statistics are as follows:
51% of HR respondents could perform predictive or prescriptive analytics, by contrast only 37% of Finance respondents could tackle these advanced forms of analytics.
89% were in agreement with the statement “My HR function is highly skilled at using data to determine future workforce plans currently (e.g. talent needed),” and only 1% disagreed.
94% of respondents agreed that “We are able to predict the likelihood of turnover in critical roles with a high degree of confidence currently.”
94% also concurred that “We have accurate, real-time insight into our employees’ career development goals currently.”
When respondents answered this question “Which of the following analytics are you using?” “artificial intelligence” had the highest response rate, 31%. When asked to further explain how they used AI, the most common answer was “identifying at-risk talent through attrition modelling,” “predicting high-performing recruits,” and “sourcing best-fit candidates with resume analysis.”
So why is it that HR departments have become more ‘natural’ in their use of advanced analytics than Finance, which is theoretically work based around numbers? In most cases, this is because Finance organisations and the respective CFOs that have lead them found it extremely difficult to move from reporting and descriptive analytics towards advanced analytics that are being used nowadays.
The reason why Oracle has chosen to survey both the HR and Finance executives and managers is due to the simple fact that there has been a serious increase in their need to cooperate. Given the fact that most often than not employee expenditures represent a company’s highest costs and because an organisation’s financial position will always guide the size of the business, there is a clear need for symbiosis. Fortunately, the Oracle survey has found that high levels of collaboration are already in place. In the same survey, it has been discovered that 82% of respondents agreed and strongly agreed, with only 5% of them disagreeing, that “Integrating HR and Finance data is a top priority for us this year.” However, not everything is pitch perfect. Numerous interviews conducted post-survey have brought to light the fact that there are many more opportunities to be seized further than sharing of data and cooperating on analytics.
In conclusion, it would be stretch to think that analytics will solve HR’s every problem, but they can definitely provide a deeper understanding of every department within an organisation, help train HR specialists into developing projects that can enhance talent investments whilst also monitoring and developing recruitment, engagement, development, retention, productivity and many more workplace activities.
There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.
https://greatpeopleinside.com/se/wp-content/uploads/2019/06/analytics.jpg7201200great people insidehttps://greatpeopleinside.com/se/wp-content/uploads/2024/05/GPI_logo_01.pnggreat people inside2019-06-21 15:57:062019-06-21 15:57:06The Rise of Analytics in HR
Many of you have probably already read at least a dozen articles that promised to reveal the secrets or shortcuts to a successful professional life. While most of those are definitely helpful, they seem to be rather some tips & tricks more than anything else.
Each and every one of us is different, has his own goals, his own little thing that wakes him up in the morning and even his own waking time (no, you don’t have to rise & shine every morning at 5 am in order to be successful). Adding on top of that, we do live in a VUCA world, where it is almost impossible to predict what’s going to happen next and how exactly you should prepare for it. So what can you make of all this? Well, first of all, that you won’t be able to find a “secret recipe to success” that is universally applicable, because there is no such thing. But then, what us is the only “tool” that will help you in this world, no matter the situation? The one thing that is needed in order to do almost anything else? If you haven’t guessed by now (or you haven’t even read the title of this article), the answer is knowledge.
And I’m talking about the real knowledge.
Nowadays, way too many people use some type of pseudo-knowledge, grabbed from the first Google link that you can find, in order to brag about their high intellect. That kind of knowledge might only be useful to be the center of attention at a networking event or maybe a party, but elsewhere it won’t bring you that many benefits. As the genius physicist Richard Feynman wrote in his own autobiography: “You can know the name of that bird in all the languages of the world, but when you’re finished, you’ll know absolutely nothing whatever about the bird. You’ll only know about humans in different places, and what they call the bird. … I learned very early the difference between knowing the name of something and knowing something.”
Therefore, how can you know that you really know something and not just its name?
First and foremost, you need a lot of time to gain that real knowledge that can help you in almost every aspect of your life. Go find a subject that you enjoy. And read about it. A LOT. Enroll in courses that tackle that subject. Talk to the experts. Only then you might have a shot of having obtained real knowledge. Do you want to know if you actually made it? Feynman comes to the rescue again with his unique method of double checking your own understanding, called The Feynman Technique:
“Without using the new word which you have just learned, try to rephrase what you have just learned in your own language.”
Step 1
Write the name of the concept at the top of a blank piece of paper.
Step 2
Write down an explanation of the concept on the page. Use plain English. Pretend you are teaching it to someone else (e.g a new student or even a child). This should highlight what you understand, but more importantly pinpoint what you don’t quite know.
Step 3
Review what you have pinpointed you don’t know. Go back to the source material, re-read, and re-learn it. Repeat Step 2.
Step 4
If you are using overly wordy or confusing language (or simply paraphrasing the source material) try again so you filter the content. Simplify your language, and where possible use simple analogy.
Sources:
“The Feynman Technique Model” -Mattyford.com “What do you care what other people think?” – Richard Feynman
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For many people, work has become synonymous with their personal lives. Whether employees love or hate their current job, they most likely are thinking about what they have to do, even in their off hours. There are times when planning and organising future moves is helpful and useful, but when you do something for too long it may become detrimental to your personal life and health.
If you have had nights in which you cannot fall asleep because you are stressing out over what you have to do at work and start ignoring your friends, which may be the sign that you are in way over your head.
In layman’s terms, bringing work back into your home can transform you into a very tensed, boring, stressed-out and sleep-deprived person. If any of these thoughts have invaded your mind lately…
The business will fall apart in my absence.
There is a definite crisis at the office.
I’ll definitely receive a very important email anytime soon.
… you may require a real break from everything starting from the office environment and even the city where you do your business. It sounds easier said than done because fear plays an important role in achieving a healthy work-life balance. In order to start coping with this situation here are a few suggestions of what you can do:
Bypassing the brain in order to relax
The vast majority of people can agree that smartphones make our lives just a little bit easier. Unfortunately, they have become problematic for many employees who cannot resist the temptation of checking their emails and workload. Because we have incorporated smartphones into our day-to-day business activities, they activate the Zeigarnik Effect – which represents the difficulty with which people forget something that has been left incomplete. This is a real psychological justification why people struggle to switch off during vacations. However, there are ways in which we can reduce the Zeigarnik Effect to become part of our private lives.
Sports – Taking up tennis, or going out with your friends to play a game of football can set your mind free of the incomplete activities you have going on at work. Basically, everything that necessitates constant focus in order to keep your mind busy on something new and fresh.
Turn it off – If you know that physical exercises cannot make you give up your gadget, it’s time to switch it up a notch: turn it off or give to your friends or family to hide it. At some point, the brain will give up on trying to solve those problems.
Focus on future actions instead of work
When employees are out of office, some of them are experiencing what is called informally as ‘fear of missing out’ or FOMO. People tend to think that while they are out of office something important is going to happen and they are not there to experience it. Obviously, this leads to people obsessively checking their emails and forgetting to relax.
The solution here is pretty straight forward. People have to start focusing on things they are about to do in the near future rather than what they are going to miss out on. For example, if your plan is not to think about work you already lost the battle because you’re actually thinking about work. Instead, aim your attention towards a dinner party you’re about to attend or all the time you get to spend with your children. For better results keep it as specific as possible. For example, instead of thinking of ‘family time’, think about how you are going to take the kids to see a movie or go with them to the park and play.
In conclusion, try and set yourselves up for success. Try and put away anything work related when you get home. If that means you have to turn your phone off or leaving your laptop at the door as soon as you get home then by all means, just do it. Make it difficult for you to access work-related actions, given the fact that you will think at least twice before accessing it.
This is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company’s employees to thrive in any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.
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As we all know, young adults have been introduced to the world of computer and video games early on in their lives. Nowadays, mobile games are a must on smartphones, the more complex, the better. HR and gaming have started working together for some time now, with the purpose of making otherwise dull processes more interesting and increase engagement levels. Founded in 1948, the Society for Human Resource Management (SHRM), has recently revealed there are 2 types of gamification:
Structural gamification – applying gaming rewards such as badges, levels, leaderboards, etc to job-related activities.
Serious Games – where a simulation is created for specific purposes such as training or sales simulation.
Although the whole process of gamification is definitely attractive, it requires serious financial investments in order to increase the visibility and importance of the HR department in the organisation. In general, employees tend to not appreciate anything coming from HR, but for sure they like games. Combining the various and tedious HR processes with games, almost instantly boredom is transformed into fun times and great engagement. Gamification has been discovered to work best with organisational practices such as: recruitment, training, referral recruitment, development and wellness. Of course, there are some instances in which games are not recommended at all, for instance, administrative processes. The risks in this instance are tremendous due to the simple fact that companies can suffer greatly. Administrative processes should be done successfully by everyone.
Here are some of the ways in which gamification can speed up various HR processes at the work workplace:
Training: Turn your company’s training into a game. Employees will have to work through numerous tasks in order to obtain points and badges in order to ‘level up’.
Cultural Alignment: Employees will be rewarded with ‘culture points’ if they live by the organisation’s core values. Offer people the chance to notice other employees that go the extra mile in regards to cultural aspects.
Wellness: It is essential that employees are using wearables such as Fitbit. From the data collected from these wearables, employees have the chance to earn wellness points and actually make a competition out of it with the others. This method helps a lot with morale and engagement.
At their very core, people are competitive, they like to challenge themselves one way or another. Based on this idea, every employee wants to be valued for the work and effort he or she puts into the company. HR departments are struggling annually or biannually to collect performance reviews from employees. If the organisation decides to make a game out of it, engagement would soar through the roof. While they complete their paperwork, employees can also see the progress of their colleagues. This way, people get motivated to move faster and be the first ones to finish.
In a recent Gallup research, it has been discovered that more and more organisations are interested in implementing gamification. In the same study, it has been shown that only 31% of employees are still engaged at their job. And, perhaps not that surprising, millennials are the least engaged. Here is where gamification can come in. By using it and deploying it efficiently, engagement levels could rise but it can also act as a magnet for young talents. Given the fact that millennials will represent 75% of the workforce by 2025 it is of utmost importance that organisations start to treat this matter as seriously as possible.
In order to address the low engagement levels, many Fortune 500 companies have launched their pilot gamification programmes. Here are some examples:
Learning at Walmart: Using short games to bolster safety training
In 2015, Walmart started using gamification in order to offer their 5,000 partners from 8 Walmart distribution centres the best possible safety training. The stakes for Walmart were high because they were addressing one of their bigger issues: a scattered workforce that had to adhere to the company’s safety procedures. The gamification of safety training exercises has been incredibly beneficial. Walmart saw a 54% decrease in incidents in their 8 distribution centres, whilst employees loved the competitiveness and togetherness the games brought. Soon after the programme started, employees started talking not only about the games itself but of the importance of safety protocols. Given the fact that gamification has an ‘emotional aspect’ to it, it is obvious it can have important benefits to employee behaviour.
Internal Collaboration at Qualcomm: Gamification used to increase collaboration between employees.
Qualcomm implemented a simple and very efficient technique. In the organisation’s internal Q&A system, employees can ask and answer distinct questions and the best answers get to be voted up and rise through the rankings. Through this method, Qualcomm employees receive bonus points for their activity and level of engagement. Gathering enough points earns them badges, although there are unique badges that are being offered to people who overachieve. For example, an employee will receive points, a special badge (The Archaeologist) and for answering a question that was unanswered for 30 days. Furthermore, that employee gets recognition on the internal website and the badge will appear on his or her profile in order to reward their willingness to help.
This is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.
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Organisational learning in companies nowadays is simply seen as sharing existing knowledge. But this should not take us by surprise given the fact that the primary focus of universities and MBAs is just that. This type of approach can be seen in training programmes and leadership development seminars as well. The modus operandi is straight forward: an expert passes on what he or she knows with people who do not possess that information already. This technique is supposed to be feasible in numerous and various situations and social contexts.
Due to this learning approach, the 1990’s have seen quite a boom in ‘knowledge management systems’. The obvious focus of these systems is clear: efficiency at scale – i.e. making existent knowledge more accessible to people who need it. In the case of employees, it could help them discover the relevant know-how in order to improve their performance.
In today’s culture of knowledge sharing, people often tend to forget about how enriching creating ‘new knowledge’ can be. Companies are struggling to cope with the increasing number of unexpected situations that obviously cannot be found in manuals or textbooks, thus compelling leaders to act on the spot, to improvise with approaches that haven’t been tested. Thankfully, due to this process, new knowledge is being developed regarding how things should or should not work in ‘clear-cut situations’.
Explicit knowledge vs. Tacit knowledge
Today’s business world everything revolves around efficiency and how can it be measured and scaled properly. Given this specific need, the documentation regarding this matter was created in great detail so that every known situation was handled by specific actions. The best example in this scenario is the idea that all employees supposed to follow.
Nowadays, information moves at the speed of light and everything is changing constantly. Basically, the new knowledge that could be acquired comes as tacit knowledge. In layman’s terms, tacit knowledge is the information that people already have but find it difficult to articulate to themselves much less to other individuals. This type of knowledge derives from our first-hand experiences when confronted with new situations and is exceptionally valuable. If organisations can create environments in which tacit knowledge can be created and developed, workers could confront and learn enormously from the new situations created.
Workgroups vs. Individuals
The best way in which to ensure the success of tacit knowledge is to create small workgroups. In this scenario, people from diverse backgrounds and with distinct skills and perspectives can create a powerful bond, based on trust in order for them to be comfortable to try out new things, to easily accept constructive criticism and collaboratively work towards the common good. The potential within small workgroups is tremendous. If two or more workgroups are connected through a network or project with other workgroups, seeking advice and confronting new circumstances can go beyond the experience offered by an individual workgroup.
Organisations may have an overwhelming proportion of smart people within their ranks, but managers should always take into account the fact that there are a lot of smart people out there, that do not work for them. It is imperative that employees gather experience through their own perception.
Learning and Unlearning
The general act of learning is seen as the accumulation of information over time. Basically, you are just pouring information over the pre-existing knowledge you already have acquired. But things are not that simple. In the ever-changing global market, it has become mandatory for people to be willing to unlearn and even develop such an ability. Our principles and ideas are being challenged on a daily basis so it is imperative that we understand that what may have worked in the past may no longer be relevant today. If we try to hold on strongly to these beliefs without questioning their relevance from time to time, then we will never be open to new ideas, approaches that may be more feasible for the foreseeable future.
Skills vs. Capabilities
Usually, when we start working at a new job we focus a lot on acquiring the necessary set of skills needed in order to perform at the desired level. The moment we are certain those skills have been integrated, productivity and success is just around the corner. However, everything around us sometimes feels like it is passing on fast-forward, thus skills have a shorter lifespan. While skills are important in order to progress and assure your professional success, it is recommended that the focus shifts towards acquiring capabilities that could accelerate the learning process. These capabilities range from willingness, imagination and creativity to curiosity, critical thinking and emotional intelligence. If organisations worldwide understand that new forms of learning are required to adapt. Re-thinking strategies and operations will be a must.
This is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.
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