Seven out of 10 HR executives say that HR is ripe for reinvention, but a study conducted by IBM shows that only 10% of them are at 3.0 today. Data analytics and People analytics that will facilitate this HR transformation are therefore crucial to adopt.
Data analytics can help leadership turn manual tasks into digital and leverage data on a real-time basis. Data analytics in HR will also assist decision-makers to use and look at information predictively to ascertain issues, and form strategic decisions.
Stephen Childs is the Vice President/CHRO at Panasonic Automotive, which is a $2.9 billion global leader in the OEM Infotainment space with over 7500 employees. He also serves on the Executive Committee and Board of Directors for the Fayette Chamber, and he is also on the Board of Advisors for the Metro Atlanta Chamber. He is a global keynote speaker on Company Culture, Performance Engagement, and Leadership.
Timestamps:
0.07 – 0.44: Global Mercer HR Trends and the ability to manage data to accelerate the journey towards HR 3.0
0.45 – 0.00: HR 3.0 survey by IBM, their findings and need for Data/People Analytics
1.16 – 0.00: Project by Panasonic to turn the manual process into digital and how to look at data predictively
2.38 – 3.15: Change Management
Stephen Childs is the Vice President/CHRO at Panasonic Automotive, which is a $2.9 billion global leader in the OEM Infotainment space with over 7500 employees. He also serves on the Executive Committee and Board of Directors for the Fayette Chamber, and he is also on the Board of Advisors for the Metro Atlanta Chamber. He is a global keynote speaker on Company Culture, Performance Engagement, and Leadership.
As you can see here, even these top priorities related to this Mercer trend, and you see things like diversity, equity, inclusion, analytics, defining the future workforce. A lot of these trends, whether it’s the top priorities, or the area of more attention are highly related to our ability to have an infrastructure to manage data. Most of us have data and the ability to manage that data to be able to accelerate your HR function to the next level, which again, you see the study accelerating the journey to HR 3.0. That was done by IBM in association with The Just Person Academy. Seven out of 10 HR executives say it’s ripe for reinvention for HR, but only 10% are actually at that 3.0 today, so a lot of work to be done. And the reason I bring this up is the backbone for a lot of this reinvention for HR is this data analytics and people analytics.
On the sort of two projects that we’re working on at Panasonic Automotive, one was this leadership engagement dashboard that we were doing manually, for a while. And it’s really looking at all these data points for our leadership. So all these things we ask our leaders to do on a regular basis. That gives us an indication of how well they’re actually managing their team and it’s things like the high potential turnover recognition program, are they using the recognition program? Are they cascading these objectives timely? Are they doing their check-ins? Are they launching LMS training for their team members? And I won’t go into all of it, but there’s so many different things. So what we’ve been able to do is, we’ve been able to take this from a manual process into a digital process. To be able to leverage this information real-time and not from a past perspective. Really look at this predictively to go where are we going to see issues with our leadership team and the engagement of their employees and the turnover. And it’s really given us an opportunity to really have better conversations with our leaders. And this is just one example of how to take this data, a lot of data, put it in a format that really gives you the ability to have predictive data and have conversations early on before some of these things become a big problem.
Change impacts, change is tough. Getting people from one place to a new place is really, really tough. We have the benefit of, again, that silver lining of COVID; it’s really helped people move faster and adapt quicker to so many different things. But you need a change plan. And there’s all kinds of models for change plans. There’s McKenzie and there’s Kotter and neuroleadership. And I really love the neuroleadership chain methodology, just because it’s pretty simple and it’s easy to communicate around just outlining priorities and helping build new habits and systems to really help people move through significant change.