Five Steps to Predictive Analytics

Transcription

1 Five Steps to Predictive Analytics Karen O Leonard, Vice President, Benchmarking & Analytics Research Bersin by Deloitte Kathleen Blake McCann, Ph.D., Vice President, Human Resources and Administration; Manager, Strategic Workforce Planning and HR Analytics Liberty Mutual

2 Agenda Research: Five Steps to Predictive Analytics Liberty Mutual: Improving Decisions through Predictive Analytics Wrap-Up? Q&A 1 IMPACT 2014 THE BUSINESS OF TALENT

3 Our Research Karen O Leonard, Vice President, Benchmarking & Analytics Research Bersin by Deloitte

4 Bersin by Deloitte Talent Analytics Maturity Model Level 4 Predictive Analytics Level 3 Advanced Analytics Level 2 Advanced Reporting Level 1 Operational Reporting Source: Bersin by Deloitte, IMPACT 2014 THE BUSINESS OF TALENT

5 Bersin by Deloitte Talent Analytics Maturity Model Level 4 Predictive Analytics 4% Level 3 Advanced Analytics 10% Level 2 Advanced Reporting 30% Level 1 Operational Reporting 56% Source: Bersin by Deloitte, IMPACT 2014 THE BUSINESS OF TALENT

6 Advancing Takes Effort Level of Value Level of Effort a Choke Point for Most Organizations Level 1 Operational Reporting Level 2 Advanced Reporting Level 3 Advanced Analytics Level 4 Predictive Analytics 5 IMPACT 2014 THE BUSINESS OF TALENT

7 Quality Dashboards Team Data Culture IT Support z 6 IMPACT 2014 THE BUSINESS OF TALENT

8 Quality Dashboards Team Data Culture IT Support z 7 IMPACT 2014 THE BUSINESS OF TALENT

9 Out-of-date data Inaccurate data Outliers Invalid data Duplicates Missing data Conflicting data Poorly-defined data Lack of Data Standards 8 IMPACT 2014 THE BUSINESS OF TALENT

10 Improving Data Quality Is this data correct? What do we do about it? Prioritize Assess Clean Prevent Define Train Audit Communicate Govern 9 IMPACT 2014 THE BUSINESS OF TALENT

11 Quality Dashboards Team Data Culture IT Support z 10 IMPACT 2014 THE BUSINESS OF TALENT

12 Dashboard Capabilities Customized by audience Self-service capabilities 11 IMPACT 2014 THE BUSINESS OF TALENT

13 Highlight Strengths and Weak Points Source: ADP, IMPACT 2014 THE BUSINESS OF TALENT

14 Highlight Key Findings Source: SuccessFactors IMPACT 2014 THE BUSINESS OF TALENT

15 Understanding Stakeholders Needs Try this: Stop sending your stakeholders their regular reports. 14 IMPACT 2014 THE BUSINESS OF TALENT

16 Understanding Stakeholders Needs Try this: Does anyone notice? Stop sending your stakeholders their regular reports. 15 IMPACT 2014 THE BUSINESS OF TALENT

17 Quality Dashboards Team Data Culture IT Support z 16 IMPACT 2014 THE BUSINESS OF TALENT

18 Staffing Increases by Maturity Level Level 1: Operational Reporting Level 2: Advanced Reporting Level 3: Advanced Analytics Level 4: Predictive Analytics (Assumes 10,000-person company) 17 IMPACT 2014 THE BUSINESS OF TALENT

19 It Takes A Multi-Disciplinary Team Can Tell the Story Statistical modeling IT /Systems Consulting World Class Analytics Team Database Knows the business Data Visualization Knows HR 18 IMPACT 2014 THE BUSINESS OF TALENT

20 It Takes a Cross-Functional Team Talent Acquisition Learning & Development Workforce Planning Leadership Development Compensation Analytics Employee Engagement Succession Planning Talent Management Performance Management 19 IMPACT 2014 THE BUSINESS OF TALENT

21 Finance Operations IT Talent Acquisition Learning & Development Workforce Planning Sales Leadership Development Compensation Analytics Employee Engagement Business Leaders Succession Planning Talent Management Performance Management Marketing Customers 20 IMPACT 2014 THE BUSINESS OF TALENT

22 Quality Dashboards Team Data Culture IT Support z 21 IMPACT 2014 THE BUSINESS OF TALENT

23 Mature Analytics Teams Have Strong IT Support 33% 63% IT is extremely supportive of our talent measurement and analytics efforts Source: High-Impact Talent Analytics, Bersin by Deloitte, IMPACT 2014 THE BUSINESS OF TALENT

24 The Ugly Part of The Story Advanced Analytics Predictive Models Visual Dashboards The Ugly Side: Data Management Data Integration Data Dictionary Scalable Computing Disparate Systems Data Analysis Reporting Tools Data Quality Data Governance Data Entry Data Visualization 23 IMPACT 2014 THE BUSINESS OF TALENT

25 Quality Dashboards Team Data Culture IT Support z 24 IMPACT 2014 THE BUSINESS OF TALENT

26 HR Lags Behind Which functions have strong analytics capabilities? Finance Operations 77% 81% Sales Marketing 58% 56% HR 15% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Bersin by Deloitte, High-Impact Talent Analytics, 10/ IMPACT 2014 THE BUSINESS OF TALENT

27 Can HR really become Data-Driven? 26 IMPACT 2014 THE BUSINESS OF TALENT

28 Case in Point: Liberty Mutual

29 Improving Human Capital Decisions Through Predictive Analytics Kathleen Blake McCann, Ph.D.

30 Liberty Mutual Confidential 29 Insurance

31 Liberty Mutual Confidential 30 Insurance The Internship Program Business Case Intern Business Value Interns have a higher retention rate when compared to non-intern college hires Interns have competitive PCM performance ratings when compared to nonintern college hires Interns are a good source of minority candidates Interns are more likely to be promoted than non interns Hire 500 interns a year, with millions of dollars of investment every year Source: Corporate University Relations, Proprietary

32 Liberty Mutual Confidential 31 Insurance Project Plan Resume Study Survey Study Implementation Validation Year 2011 interns Improves quality Year 2012 interns Improves quality & efficiency Develop the screening function in Taleo Validate the Taleo screening tool usage and the impact on intern performance Goal: Hypothesis building Goal: Hypothesis refining & testing Goal: Validation Data collection Goal: Ensure effective

33 Wrap-Up

34 Quality Dashboards Team Data Culture IT Support z 33 IMPACT 2014 THE BUSINESS OF TALENT

35 Other Keys to Improving your Analytics Capabilities Start with small wins Focus on business solutions Develop a 1-3 year plan 34 IMPACT 2014 THE BUSINESS OF TALENT

36 Questions?

37 Thank You! Karen O Leonard Bersin by Deloitte koleonard@deloitte.com LinkedIn: KarenOLeonard Kathy McCann Liberty Mutual Kathy.McCann@LibertyMutual.com

38 This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. About Deloitte As used in this document, "Deloitte" means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. 36 USC Member of Deloitte Touche Tohmatsu Limited