CFOs who want better workforce analytics should be prepared to put more "R" in "HR."
Josh Hyatt, CFO Magazine
July 15, 2009
Metrics - help an organization align itself with current trends. But often it is found that businesses are not ready for the next step in intelligent business development i.e. Business Intelligence. HR hasn't been given a clear path that allows the department the time or resources to develop much needed BI. Often, when they are given the go-ahead, they are star struck with data and do not know how to formulate constructive metrics. If allowed the time to ferret through needs, must haves and wants, a company can garner much needed budgeting, forecasting and building materials to make their organization a force to contend with.
Posted by Trace Anderson | September 10, 2009 04:57 pm
Let's face it the pressure to deliver the numbers has never been greater. Investors, boards, management teams all want and need metrics. Why, to ensure that what people say will happen is happening. Then, if its not steps can be taken to get the business back on track. As a former management team member of a publically traded company , seasoned global human resources executive and today a management consultant I agree with the author that metrics are important. We all need a scorecard to understand what is happening on all sides of the business including human resources however lets not lose track of the importance of having the right people processes in place. Organizations large or small must identify the skills and competencies needed to achieve their business strategy. Management teams (which include human resources) need to determine what type people it will take to make their plan a reality. Once this analysis is completed all parties must collaborate to ensure the human resources processes are in place to attract, develop, and retain the right people. Human resources can be the facilitator of this process but ownership is with the entire management team. Once the processes are in place, then the metrics mentioned in the article can be built on a strong foundation and will have a direct connection to the success of the business. Jim Geier President and Founder Human Capital Consulting Partners LLC
Posted by Jim Geier | August 02, 2009 02:12 pm
It's great to see a renewed push in the direction of human capital metrics. But there are hugely practical and convenient new scientific methods of calibrating these metrics that no one is paying any attention to. Human and social capital markets will remain locked up in huge transaction costs and inefficiencies as long as those metrics are not brought to life in the form of instruments calibrated to provide fungible common currencies for the exchange of value. For more information, see my article on pp. 1092-3 at http://www.rasch.org/rmt/rmt211.pdf, my blog at http://livingcapitalmetrics.wordpress.com, or http://www.livingcapitalmetrics.com.
Posted by William Fisher | July 28, 2009 03:52 pm
The Mercer's Law could be the answer to upgrade and induce HR reforms in progressive companies. When there is a success story the incumbent gets the honors but the architect behind it all is but forgotten.
Posted by Travis Gray | July 15, 2009 03:41 pm© CFO Publishing Corporation 2009. All rights reserved.