Remove Benchmarking Remove Comparison Remove Competencies Remove Data

Why Benchmarking 2.0 is a Must-Have for Influential HR Leaders

Visier

This all changed in 1980, when Dr. Jac Fitz-enz — now celebrated as the father of human capital strategic analysis and measurement — founded the Saratoga Institute , and developed the first international HR benchmarking service. Enter HR Benchmarking 2.0:

Why Benchmarking 2.0 is a Must-Have for Influential HR Leaders

Visier

This all changed in 1980, when Dr. Jac Fitz-enz — now celebrated as the father of modern HR — founded the Saratoga Institute , and developed the first international HR benchmarking service. Enter HR Benchmarking 2.0: The post Why Benchmarking 2.0

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Industry Verticals, Organizational Cultures, and Benchmarking

ClaimVantage

And employers compete with each other for talent just as they do for customers. These groups are so large that they often self-insure many of their insurance coverages, and soon terms like “benefits administration,” “workflow” and “benchmarking” become a regular part of your vocabulary.

How to Use Employee Benchmarks

Namely

When using employee surveys, it’s important to have comparison data so you can track how you’re doing over time. There are generally two ways to compare your data—to your own results year-over-year or to a benchmark. Year-over-year data shows you the impact of any actions you took as a result of a previous survey. Benchmark comparisons give you the added context of how your organization is doing relative to your peers.

Benchmarking & What-If Analysis

Vemo

Benchmarking Metric Benchmarking can be a great way to compare your metrics to industry best practices, however accessing relevant benchmarking data for you industry is not always easy to obtain or broadly available for every industry.

Benchmarking and Executive Compensation

HRExecutive

Executive-pay packages often don’t include a comparison of company performance and its competitors are regularly approved by boards of directors, and many have wondered why. New research by University of Michigan professor Martin Schmalz and co-authors Miguel Anton and Mireia Gine of the IESE Business School and Florian Ederer of the Yale School of Management helps explain why—and why benchmarking happens more in some industries than in others.

Developing a Compensation Plan, Step 3: Select Data Sources

Compensation Today

Now that you’ve spent some time thinking about the different parts of your workforce and where you compete for talent in each segment, you can apply that strategy when seeking out your data sources. Select Compensation Market Data Sources. Crowdsourced data.

The Basics of Big Data, HR Analytics & Predictive Analytics

SMD HR

There are lots of words and concepts floating around the HR world these days that are new or different from the traditional approach – ones like “big data,” “HR analytics,” and “predictive analytics.” Big Data. HR Application : HR has tons of data in various systems (e.g.,

Why Ranking Employees Against Each Other Doesn’t Work

Reflektive

At one point, we all used benchmarks: From childhood through higher education, we had clear grades presented to us multiple times a year to let us know exactly where we stood in comparison to a mandated rubric. Some of us found being measured against that external benchmark comforting, and some found it asinine. Temporal Comparison and Social Comparison. Most professionals would much rather use temporal comparison. The Psychology of Comparison.

What is the average time to hire by industry?

Workable

How does your time to hire measure up against companies that compete for the same candidates as you? But, Workable’s reporting suite is built to provide data on both metrics. DHI uses data gathered through the Job Openings and Labor Turnover Survey (JOLTS) by the U.S

It’s About More Than HR: Analytics Learnings from Tom Davenport and Dr. John Sullivan

Visier

It brought to mind what Dave Ulrich — the author of modern HR and a past Visier Outsmart speaker — and his team wrote in their paper The New HR Competencies: Business Partnering from the Outside-In : “High-performing HR professionals think and act from the outside-in.

Amazon Coming to Town? Mitigate Talent Shortfalls with People Analytics

HR Daily Advisor

A data-driven process is one smart strategy that business leaders can take to mitigate the risks—and find the opportunities—associated with Amazon’s big move. By using data and analytics, companies can create a tailored and realistic action plan aimed at retaining their employees.

Employee performance management tool for the modern HR professional

AssessTEAM Performance Management

Research shows that HR professionals who practice data-driven decision-making are 4 times more likely to be respected by their colleagues. This report highlights shortcomings in specific competency areas based on aggregated, individual employee performance scores.

HRExaminer Watchlist: Analytics Integration: OneModel

HR Examiner

Category: Data Workbench. OneModel takes the clients data, as is, and integrates it into a customizable set of People Analytics. OneModel fits neatly into the Data Workbench bucket. OneModel is designed to integrate the entire range of data sources within an HR Department.

HR Supercharged: How Modern Tech is Changing Work

ClearCompany HRM

There are ways to identify A Players based on data from current and past employees, and with the right system to help HR teams analyze this data, it can make the best hiring decision clearer. HR teams are accomplishing this by integrating their performance management data back into the hiring process in order to hire more great employees. Also, use performance data and feedback to not only plan for reviews, but also to set engagement activities.

Five Essential Fixes for Amateur Talent Management Tactics

Visier

When looking internally, a basic comparison of employee tenure won’t reveal who is the most competent employee for the job. These patterns enable you to spot outliers in the data (i.e. Take this quiz to find out if impulsive managers are holding you back.

Employee performance management tool for the modern HR professional

AssessTEAM Performance Management

Research shows that HR professionals who practice data-driven decision-making are 4 times more likely to be respected by their colleagues. This report highlights shortcomings in specific competency areas based on aggregated, individual employee performance scores.

Developing a Compensation Plan, Step 2: Define Your Strategy

Compensation Today

The next two lessons in building your compensation plan will teach you how to perform compensation benchmarking. Your compensation strategy should answer these three key questions: What talent market(s) do you intend to use for comparison for your organization?

PayScale Tools for Today's Comp Pro! Compensation Glossary: Part 2 of 4

Compensation Today

Gather external data and evaluate that information against how you are paying internally. Survey providers vary so it’s important to research your selected data source and their data collection methodology before using that information to guide your decisions on pay.

Diversity in the Workplace Statistics: Job Seeker Survey Reveals What Matters

Yello

Download the Employer Benchmark Report to find out. Throughout this article are comparisons to The 2018 Yello Diversity Study. Please note: The same populations and methodologies were not used between 2018 and 2019, and therefore, the two reports are not a direct comparison.

Point Factor Job Evaluation Concisely Summarized

Compensation Cafe

Point plans were originally created to apply internal equity to jobs that could not be appropriately matched to competitive market benchmarks. This permits the interval-based interleaving of unique jobs with benchmark jobs sharing similar overall value scores. . Warning!

4 Commandments for Successful Onboarding

mroads

It is vital to remove the assessment subjectivity among new hires and current employees through a candidate market medium comparison. Your onboarding process is the key to not only employee success, but to retaining the new hires companies have invested in.

6 Areas Where People Analytics Can Help HR Get Ahead

Career Metis

It’s official – the data revolution is in full swing. According to one recent report , 90% of businesses now say that data and analytics are key to their organization’s digital transformation initiatives.

Measuring the Customer Experience of HR (Why and How)

Digital HR Tech

Building on this, CSAT is generally considered to be the result of a direct comparison between actually delivered performance versus the customer’s expectation. Qualitative data will add the context and explanation needed to make tangible improvements at the touchpoint and journey levels.

ABC, Easy as 1, 2, 3

Compensation Cafe

I first helped develop this “market data adjustment strategy” several years ago while working on a Broad Banding and Market-Pricing project at a large public company. . Many jobs end up being a 75%-80% match to the market data.

Key takeaways from People Analytics World, London 2018 – Part 1

Littal Shemer

The growing importance of data-driven HR was well reflected in the conference’s attendees, both speakers, exhibitors and delegates. Like elite sports, organizations have huge amount of data, structured and unstructured, on the cloud and on devices, which will eventually change work.

Interviewing techniques: 10 mistakes experienced interviewers avoid

Workable

You may miss out on a chance to a systematic approach to interviewing by recording valuable historical data. Social comparison bias. You should think about what you are trying to assess when you ask competency based interview questions like how a candidate handled a difficult client. A sound benchmark to aim for is 80/20 listening/talking and avoid sounding arrogant or insincere. Interviews have been the hardest part of the hiring process throughout their history.

20 Factors You Need to Include In Your Business Case to Get More Recruiting Budget

Linkedin Talent Blog

Unless you convert them to a standard of comparison, their dollar impacts on corporate revenue. A data-driven and metric-rich approach: Everyone at the executive level operates in a data-driven environment.