The lifeblood of any business enterprise is its people. Yet it wasn’t until the publication of the groundbreaking book The ROI of Human Capital that there was a reliable way to quantify the contributions of people to corporate profit. Completely updated with new metrics, the book shows executives and HR professionals how to gauge human costs and productivity at three critical levels: organizational (contributions to corporate goals) • functional (impact on process improvement) • human resources management (value added by five basic HR department activities) The second edition contains new material on topics including corporate outsourcing, developments in behavioral science, and advances in trending and forecasting that have dramatically changed the way organizations measure the bottom line effect of employee performance. Utterly up-to-date, this is the go-to resource for organizations performing the essential task of measuring the value of their people.
PROVE THE VALUE OF YOUR HR PROGRAM WITH HARD DATA While corporate leaders may well know the value of human capital, they don’t always understand the extent to which the HR function contributes to the bottom line. So when times get tough and business budgets get cut, HR departments often take the first hit. In this groundbreaking guide, the cofounders of ROI Institute, Jack Phillips and Patti Phillips, provide the tools and techniques you need to use analytics to show top decision makers the value of HR in your organization. Focusing on three types of analytics--descriptive, predictive, and prescriptive--Making Human Capital Analytics Work shows how you can apply analytics by: Developing relationships between variables Predicting the success of HR programs Determining the cost of intangibles that are otherwise diffi cult to value Showing the business value of particular HR programs Calculating and forecasting the ROI of various HR projects and programs Much more than a guide to using data collection and analysis, Making Human Capital Analytics Work is a template for spearheading large-scale change in your organization by dramatically influencing your department's overall image within the organization. The authors take you step-by-step through the processes of using hard data to drive decisions and demonstrate the tangible value of HR. You know that your department is more than administrative and transactional--that it's an integral player in your company's strategy. Apply the lessons in Making Human Capital Analytics Work and ensure that all other stakeholders know too.
Using Fitz-enz’s proprietary analytic model, you will be equipped to measure and evaluate past and current returns and apply the information to make predictions about the future value of human capital investments. In his landmark book, The ROI of Human Capital, Jac Fitz-enz presented a system of powerful metrics for quantifying the contributions of individual employees to a company’s bottom line. Now, in The New HR Analytics, he reveals how human resources professionals can apply this expense-based knowledge to make the most strategic staffing decisions for their companies. You’ll learn how to: evaluate and prioritize the skills needed to sustain performance; build an agile workforce through flexible Capability Planning; determine how the organization can stimulate and reward behaviors that matter; apply a proven succession planning strategy that leverages employee engagement and drives top-line revenue growth; and recognize risks and formulate responses that avoid surprises. Brimming with real-world examples and input from thirty top HR practitioners and thought leaders as well as exclusive analytical tools, The New HR Analytics ushers in a new era in human resources and human capital management.
Ask anyone from the CEO to the shipping clerk about the organization¿s most valuable asset, and you¿ll get the same answer: ¿The people!¿ However, when it comes to the valuation of that organization, especially in terms of intangible assets, like patents and trademarks wind up seeming to be more valuable. How? Simple: They¿re more quantifiable.In The NEW ROI: Return on Individuals, we delve into placing a more quantifiable value on the human capital asset ¿ the most valuable asset in every organization. Additionally, we explore universal ways to promote even greater workforce value including creating difference makers, increasing employee success, improving happiness, reducing toxic employees, generating innovation by building trust, embracing and improving corporate culture, and much more.Do you know who your rock star employees are and how to improve employee engagement and employee morale? Want to keep your top performers happy and productive? Do you actually know the real cost of toxic employees to your bottom line and profitability? Why do some teams succeed while others fail¿ even within the same organization? What is the impact of and on human capital during mergers and acquisitions? How do trust and happiness impact your employees and their ability to be more innovative? What is resiliency in business and why is it important? How high is your cost of turnover and what can you do to reduce it?Whether you are a CEO, on a leadership team, in middle management, or are an employee who wants to see their company not just succeed but thrive, you will gain incredible insight into how the lifeblood of every organization ¿ the human capital asset ¿ operates and what you can do to improve and enhance the success of your employees and ultimately your organization and its bottom line.Nothing gets done in any organization without people and improving the productivity of every employee is the key to boosting profitability and at the same time boosting employee morale. Higher morale generates even greater productivity which, in turn, improves your bottom line. It¿s an upward spiral that you¿ll want to harness.
An insightful look at the implementation of advanced analytics on human capital Human capital analytics, also known as human resources analytics or talent analytics, is the application of sophisticated data mining and business analytics techniques to human resources data. Human Capital Analytics provides an in-depth look at the science of human capital analytics, giving practical examples from case studies of companies applying analytics to their people decisions and providing a framework for using predictive analytics to optimize human capital investments. Written by Gene Pease, Boyce Byerly, and Jac Fitz-enz, widely regarded as the father of human capital Offers practical examples from case studies of companies applying analytics to their people decisions An in-depth discussion of tools needed to do the work, particularly focusing on multivariate analysis The challenge of human resources analytics is to identify what data should be captured and how to use the data to model and predict capabilities so the organization gets an optimal return on investment on its human capital. The goal of human capital analytics is to provide an organization with insights for effectively managing employees so that business goals can be reached quickly and efficiently. Written by human capital analytics specialists Gene Pease, Boyce Byerly, and Jac Fitz-enz, Human Capital Analytics provides essential action steps for implementation of advanced analytics on human capital.
'The Human Resources Scorecard: measuring the return on investment' is the first book to provide a comprehensive, step-by-step process for measuring return on investment in human resources programs. Based on the classic ROI definition of earnings divided by investment, the ROI Process developed 20 years ago by co-author Jack J Phillips aids managers in determining and improving the bottom-line impact that human resource programs have on an organization. The ROI Process provides six additional measures in the form of a scorecard to track and monitor the total impact of the human resource programs. 'The Human Resources Scorecard' is essential for human resource executives, professionals, CEOs, CFOs, consultants, professors and other managers concerned with their businesses' bottom lines. Jack J. Phillips, Ph.D. is a renowned expert of measurement and evaluation. He provides consulting services for Fortune 500 companies and workshops for major conference providers throughout the world. He is also an author or editor of more than 20 books and 100 articles. Ron D. Stone is vice president and chief consulting officer for Performance Resources Organization. He is also director of the company's consulting practices in measurement and accountability. He has published numerous articles on the subject of ROI. Patricia Pulliam Phillips is chairman and CEO of the Chelsea Group, a consulting and publishing organization that focuses on accountability issues in organizations. She works with organizations to implement measurement and evaluation processes.
This is the first book focusing on the ROI for technology investments written by a technology executive for technology decision makers with the support and guidance of the foremost authority in the discipline of Return on Investment. This book leverages the talents of both authors to provide a framework and methodology that can ensure greater success in mobilizing technology initiatives. There is no other book on the market that specifically addresses the critical need to prove ROI on resource intensive technology projects with a time-tested and industry leading methodology. To date, most ROI books have focused in the areas of human performance, training, marketing, and other human capital related disciplines. With increased scrutiny of technology spending by the most complex organizations in the world, technology leaders need a 'tool kit' to help them prepare for hard-hitting discussions with their organization's CFO, president, CEO, or chairman about the return they should expect from critical technology projects. Rather than focusing top managers' attention on cutting, challenging, and controlling expenditures (as many C-level accountants prefer to do), this approach guides technology managers in providing executives with more comprehensive, balanced information that helps all involved make better business decisions. Along the way, it helps technology managers communicate more effectively with the financial decision makers in their organizations. The book also shows executives how partnering with IT leaders can help top management understand the return these technology projects can provide to the organization in increased human efficiency, automation of manual processes, unified organizational data, and other high-return results from complex and critical technology initiatives. At the same time, executives and IT professionals need to have their projects measured with a balanced perspective. While the ROI itself is very important, it's also important to capture intangibles related to the project, as well as information about application and implementation of the project. Even earlier in the cycle, it's important to capture reaction to the technology and the extent to which individuals have learned the technology. Together, these data sets represent a balanced profile of success, with ROI at the pinnacle.
Although much has been written to encourage organizations to treat employees as assets, this book argues persuasively for recognizing the worker as the investor. Davenport underscores a fundamental reality of the workplace: work is a two-way exchange of value, not a one-way exploitation of an asset by its owner. Offering a fresh new lens for viewing the realities of today's workplace, this book accurately captures the look of the new employee/employer relationship and the best practices for hiring, developing, and preserving a first-class workforce. Davenport's ideas bring together the key notions of human resources, conflict resolution, and management. He then demonstrates how to put into action the employment practices that provide the employer with organizational value and the employee with a satisfying return on his or her investment.
A diverse array of factors may influence both earnings and consumption; however, this work primarily focuses on the impact of investments in human capital upon an individual's potential earnings and psychic income. For this study, investments in human capital include such factors as educational level, on-the-job skills training, health care, migration, and consideration of issues regarding regional prices and income. Taking into account varying cultures and political regimes, the research indicates that economic earnings tend to be positively correlated to education and skill level. Additionally, studies indicate an inverse correlation between education and unemployment. Presents a theoretical overview of the types of human capital and the impact of investment in human capital on earnings and rates of return. Then utilizes empirical data and research to analyze the theoretical issues related to investment in human capital, specifically formal education. Considered are such issues as costs and returns of investments, and social and private gains of individuals. The research compares and contrasts these factors based upon both education and skill level. Areas of future research are identified, including further analysis of issues regarding social gains and differing levels of success across different regions and countries. (AKP).
Business & Economics/Project Management An exclusive portal to the methods and tools the ROI Institute uses to determine return on investment in project management To survive this modern age of financially skeptical "show me the ROI" investors, it is a crucial step for companies to develop an effective project management strategy in order to stay ahead of the curve and achieve success. Project Management ROI takes the guesswork out of determining how to monetarily value projects by teaching the time-tested Return on Investment (ROI) methodology. It presents these results-based concepts in a methodical, reproducible manner that project managers, executives, and analysts can use as a validated reference for future projects. This book focuses on an array of measures to forecast project value and collect data during and after implementation, including reaction, learning, application and implementation, impact, return on investment, and intangibles. Project Management ROI: Is the first book from the renowned ROI Institute to focus on project management ROI Provides both the tools and methodology for measuring the ROI of project management investments Will help project managers discover the value of specific project management solutions to justify project expenditures
