HR Analytics and Financial Acumen
Nick Jesteadt, Senior Business Intelligence & Talent Scientist, TIBCO
** Participants should bring a copy of their company’s financials to work with so they can use their own data for analysis and gain insights.
In order to be strategic, consultative, and action-oriented, HR must be deft at talent analytics. This growing field provides evidence, lends credibility to HR recommendations, and strengthens a company’s decision-making. To be successful as HR professionals, we need to be able to understand and deliver analytics: we must be oriented to statistics and business intelligence.
This workshop is aimed at anyone beginning a talent analytics practice at their company (either as an HR Business Partner or as a HR analyst) or anyone looking for new ideas & recommendations for advancing their practice. We will learn how to:
• Develop their business acumen and offer recommendations in a financial framework.
• Conduct a cost-benefit analysis linking various HR actions to financial impact.
• Provide an overview of statistical concepts to better understand them, use them to advise
the business, and recommend additional analyses.
• The basics of summary statistics, correlation, regression analysis, probability, data clustering, and text analysis. This will include a quick reference guide for the statistical and analytic concepts covered in the session and some common applications to human resources and to the business.
• Read, understand and prescribe various visualizations.
• Apply in-depth applications of those techniques to common HR problems & questions.
Additionally, we will take a more direct & hands-on approach and conduct an actual HR analysis. Using real data & the concepts described earlier in the session, we will answer the following
• Why are people leaving our company and what can be done to implement a more efficient succession plan to manage future attrition? This second part of the workshop will demonstrate how to:
• Frame a business intelligence question and gather the necessary data (this is an important step for HRBPs and analysts).
• Conduct a data analysis and organize the results.
• Understand the insights & create recommendations and actions from the resultant analysis.
This is a highly interactive workshop. The first section will engage all participants to think like an analyst. For the second section, we encourage participants to bring a copy of their own data so that we can workshop the above human capital question.