Tag: Human Resources

Managing the talent pool with the help of analytics

Mobilising people to achieve an organisation’s goals is not as straightforward as mobilising any of its other resources because, well, you’re dealing with people. People have skills, experiences, capabilities, feelings, opinions, perceptions, attitudes and values that must be taken into consideration when crafting strategy. For example, when goals are set for sales targets, implicit in those goals are assumptions around whether the people responsible for reaching them are able and willing to do so. This is where human resource professionals come in. They know the talent pool better than any other person within the organisation, and should be able to influence the direction and implementation of strategic plans by offering their people expertise. One suite of tools that allows them to offer objective advice is HR Analytics.

HR Analytics involves “the systematic identification and quantification of the people drivers of business outcomes, with the purpose to make better decisions”[1].

Through HR Analytics, organisations can measure progress towards business objectives. HR practitioners achieve the following four outcomes:

  1. An understanding of the performance of the human capital of the organisation
  2. The ability to speak in an unambiguous language that is used and understood by all areas of the business, not just HR practitioners
  3. Prioritisation of investments and justified decisions
  4. The ability to influence the future of the organisation.

Getting started is not very difficult. Most organisations already collect a wide range of people-related information, including performance data, engagement scores, salary and benefits information, and so on. The key is to organise, analyse and communicate the insights from this information in a way that can influence strategic decision-making.

Antilles Economics and the Human Resource Management Association of Barbados (HRMAB) will be conducting training on HR Analytics during the month of April 2018. Participating companies not only learn about the main metrics used in HR Analytics and how to create and interpret them, but will apply their knowledge using their organisation’s own data. We expect, therefore, that participants will leave the training equipped with their own HR Analytics dashboard and the insights they need to implement their people-related strategies.

To learn more about the training, please contact HRMAB at (246) 228-5518.

[1] S. van der Heuvel and T. Bondarouk (2016) The Rise (and Fall) of HR Analytics

Inviting Customers Into the Product Design Process

Customers buy in the modern world where expectations have changed, where patience is short, where exceptional service and delivery are expected, and where they expect things to be either value for money, incredibly simple or very fun. Satisfying the customers’ needs and expectations should be the driving force behind any product creation. Customers like being engaged, listened to and taken seriously. They like to provide feedback and solutions to help products become more user friendly. So why not take advantage of customers’ willingness to share ideas and experiences?

The process of design involving two or more people sharing ideas, is known as co-design. Customer co-design enlists the services, knowledge and ideas of current and future customers to design, develop and maintain a product, process, system and/or experience. Co-designing with customers is mutually beneficial. Customers will feel valued and understood. You will be able to design solutions that really work well for them, resulting in faster acceptance of new offerings and greater customer loyalty. By working side by side with customers, the people in your organization gain valuable insights into customers’ needs. By acting on those insights, your team gains faster adoption of new products, services, or processes. Customer service, an integral part of most organizations, is the first place to look for customer requirements and for customer co-design opportunities.

It is suggested that you proactively engage with customers and develop a customer co-design atmosphere. Here are a few opportunities to achieve that.

  • Form a Customer Advisory Board (CAB), where you recruit your most insightful customers to help identify and assess their and other customers’ unfulfilled requirements;
  • Incorporate the Voice of the Customer (VOC) into your organization’s culture. This entails encouraging customers to talk among themselves in focus groups, forums, social media etc. and observing how they offer solutions to each other’s problems;
  • Design the processes that impact customers to be more efficient and effective by understanding how customers perceive the processes and incorporating their suggestions for improvement;
  • Take advantage of the business network that supports your customers’ other needs. Your organization cannot provide everything that your customers need. Partner and collaborate with other organizations and your customers to provide all-round satisfying products and services.

The future of business competition and prosperity is based on the successful processes of co-design and co-creation, where customers play an integral part. The key to designing a successful product is to use customer co-design early and often. Give your employees, at all levels, the authority to interact with customers to obtain firsthand knowledge of what they would like from your products and how they would use it. The intelligence that you will gather from customer interactions will be priceless.

Employing Metrics in HR Management

Human resources are considered vital to organisational strategy and a leading determinant of business success. However, finding organisations that measure and directly link their human resource investments to strategic goals is challenging. To overcome this challenge, talent management executives must speak the same language as other executives: numbers.

In this brief article, Anna Kay Seaton offers a brief glimpse into the current state of metrics usage in talent management. Ms. Seaton is the Lead Consultant, Coach and Trainer at People Engagement and Research Solutions, and has worked in talent management for seventeen years. She advises that to establish a commitment to utlising HR metrics within your organisation, HR professionals and other executives should establish priority areas for competitive advantage and align talent management strategies accordingly. HR metrics should then be designed to effectively track progress towards the organisation’s objectives.

Click here to read Employing Metrics in HR Management.