The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments

The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments

The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments

The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments

Synopsis

In his landmark book The ROI of Human Capital, Jac Fitz-enz presented a system of powerful metrics for quantifying the contributions of individual employees to a company's bottom line. The New HR Analytics is another such quantum leap, revealing how to predict the value of future human capital investments.

Using Fitz-enz's proprietary analytic model, readers learn how to measure and evaluate past and current returns. By combining those results with focused business intelligence and applying the exclusive analytical tools in the book, they will be able to:

Evaluate and prioritize the skills needed to sustain performance • Build an agile workforce through flexible Capability Planning • Determine how the organization can stimulate and reward behaviors thatmatter • Apply a proven succession planning strategy that leverages employee engagement and drives top-line revenue growth • Recognize risks and formulate responses that avoid surprises • Support decision making by predicting the actions that will yield the best returns

Brimming with real-world examples and input from thirty top HR practitioners and thought leaders, this groundbreaking book ushers in a new era in human resources and human capital management.

Excerpt

This book was twenty-five years in the writing. It started in 1984, with the publication of my How to Measure Human Resources Management; it was augmented with Human Value Management six years later; and then the concept was updated ten years ago in The ROI of Human Capital. Those books chronicle the development of metrics in human resources from its inception in the 1970s to today. They have passed the test of time with second and third editions, and two were honored with Book of the Year Awards from the Society for Human Resource Management.

Now, The New HR Analytics is both the product of these endeavors and the look into the future. Although this book talks to human resources managers, it deals with the broader issue of human capital management processes. Hence, it is as applicable to the work of line managers as to that of the human resources department. Anyone who manages people can find value in the model we present here and the case studies that are offered in support of that model.

HR as an Expense

Having come into HR in 1969 from ten years in line jobs, I could not understand why any company would create a function that was only an expense. But then, too, at that time line management itself was not so sophisticated. Management models of the day were a patchwork quilt of fads that came and went, sometimes to reappear later. Others flashed across the sky like a meteor and burned out when they hit the atmosphere of managerial impatience. During that period, HR was simply a place where you put people “who couldn’t do any harm,” as a manager in my company said at the time.

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