Join Michelle and Maria for today’s Impact episode, part of their series on those aspects currently impacting human resource departments. Today’s installment features a short chat about how to utilize and identify the right data and metrics to be successful and impact business for the better.
This topic comes from a recent survey showing that 59% of HR professionals interviewed not only don’t use data properly, but they also do not know how to do so. While data analytics and showing ROI is not something that has been traditionally done within the scope of HR, it is vital and requires time. Today, Michelle and Maria demonstrate the benefits that come from evaluating and using metrics properly to make decisions.
The Finer Details of This Episode:
Quotes:
“People don’t want to know what my gut thinks. They want to know how it’s going to matter.”
“Even if you do it conservatively and don’t aim for the stars, imagine for a second if you, as a leader, were able to say, ‘Here’s what it takes, here’s how I’m gonna fix it, here’s what “good” is gonna look like when it’s done,’ you would open up the doors for virtually anything that you needed. If you were a leader or a department that could show a track record of predicting your impact in a measurable way, people would listen to you.”
“Ultimately, it’s not ‘butts in seats’ that most organizations care about. They care about whether or not you actually reduced defects by a certain percentage, if that’s what you’re proposing.”
“So maybe I negotiate a better deal on benefits and I’m able to show that I spent less money on benefits this year than I did last year. That’s one example… Notice I said because I negotiated a better deal, not because some benefits got cut. So cost savings can always be something that you can show as an actual contribution to the business.”
“More often than not, your contribution will be an aspect of another department’s success, which means that you’re going to have to partner with that other department in order to come up with numbers that feel successful.”
“You have to be very thoughtful and methodical about how you’re going to be saving the organization money. And it’s not just about what’s impacting your department, but how what you do in HR impacts other departments.”
“What are the benefits of actually digging into data and looking at the metrics? First of all, it helps you plan for the future, and you can get beyond what I call crisis management… It helps ensure that not just you, your HR team, is making informed decisions, but it gives the other executives within the organization the information they need to make informed decisions.”
“This entire topic is not the sexiest or most attractive, but it is the most important. How you’re outlining your data, your metrics, your return on investment back to the business is most critical.”
Show Links:
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