#TChat Recap: The Predictive Power Of HR Analytics

We could easily be intimidated by data. Yet, we crave answers on how to make the best hires, reduce cost, drive strategy… the list goes on and on.

Many organizations now turn to predictive analytics: the ability to take what happened in the past and find common relationships and factors (leveraging human behavior and neural networks) to model and predict the future, enabling us to report back in analytics with recommendations for the future.

Finance, Sales, and Marketing departments have already realized the importance of predictive analytics. Now it’s HR’s turn to gaze into the crystal ball.

This week’s #TChat guests: Chad W. Harness, VP of Lead Human Capital Analytics Consultant at Fifth Third Bank; and Jen Phillips Kirkwood, ADP Analytics and Innovation Ambassador, shared their insights on the predictive power that HR can bring (we’re proud sponsors of the Predictive Analytics World for Workforce.)

First step? Get clear on objectives and take a close look at problems that are in need to be solved. Once we have painted a clear picture, ask yourself: How can HR help to support KPIs and find analytics that can yield real action?

If we don’t trust or understand the data, it’s easy to make knee-jerk hiring decisions.

By understanding key differences between data, metrics and analytics we can make better recommendations and decisions for the future.

So how do HR leaders start a predictive analytics initiative successfully?

There’s no doubt that predictive analytics will have an immense role to play as we move forward. HR leaders want to get there, and frankly, they have to get there. Once we have arrived, HR will be given a stronger voice that will drive strategy and help cost reduction and retention.

Just remember, it’s not only about the data, it sometimes comes back to a curiosity and willingness to change.

See What The #TChat Community Said About The Predictive Power of HR Analytics:

What’s Up Next? #TChat Returns Wednesday, April 8th!

#TChat Radio Kicks Off at 7pm ET / 4pm PT — Our weekly radio show runs 30 minutes. Usually, our social community joins us on Twitter as well. Next week’s topic: Adopting Social Software for Workforce Collaboration and Communication

#TChat Twitter Kicks Off at 7:30pm ET / 4:30pm PT — Our halfway point begins with our highly engaging Twitter discussion. We take a social inside look at our weekly topic. Everyone is welcome to share their social insights #TChat.

Join Our Social Community & Stay Up-to-Date!

The TalentCulture conversation continues daily on Twitter, in our LinkedIn group, and on our Google+ community. Engage with us anytime on our social networks or stay current with trending World of Work topics through our weekly email newsletter. Signing up is just a click away!


photo credit: Crystal Ball / Glaskugel via photopin (license)