Creating Value With HR Analytics
WHAT YOU NEED TO KNOW
I have seen countless data initiatives (within HR departments, and within companies more broadly) fail miserably. The most common cause? They make too big of investments without first proving the ROI.
Focus all of your time on high impact initiatives — If you start with too big of an analytics investment (hiring FTE, putting in place a large tech stack, bringing on expensive consultants), the high level of investment will force you take on low value initiatives in addition to high value initiatives. To make sure your analytics investments have a high ROI, start with just the highest impact initiatives. As you get the hang of prioritizing high value work, and delivering value, you can make a larger investment.
Deliver value early and often — If you view analytics investments as a big step function, they are bound to fail. Instead, focus on delivering high value initiatives quickly and frequently. You should NOT be thinking in terms of quarters or years. You should be thinking in terms of hours, days, or (at most) weeks.