Human Capital Continum /Human Capital Continum

Human Capital Continum

1. DISCOVER . LEARN . EMPOWER UNIT-1 : HRA Frameworks and Metrics INSTITUTE –University School of Business DEPARTMENT -Management M.B.A HR Analytics - 23BAT739 Faculty Name : Dr. Priyanka sharma ( Assistant Professor ) Topic: Human Capital Continuum 1

2. Course Objective COB No. Title COB1 The objective of this paper is to acquaint students about Human Capital Continuum and analyzing people problems using data to answer critical questions about organizations.

3. Course Outcomes CO No. Title Level CO1 To understand the concepts and practical relevance of HR analytics in an organizational set-up . Understand/Remember   CO2 To apply appropriate research methods and methodologies to solve HR problems in business organizations  Apply CO3 To analyze and interpret the statistical results in context to the problems of human resources being faced by organizations Analyze CO4 To select best insights for typical HR issues for people management Evaluate CO5 To develop and validate predictive models based on HR challenges to drive teams effectively Design/Create

4. 4 Points to Ponder Human Capital Continuum: A necdotes or storytelling Scorecards Dashboards Benchmarks Correlations Causation Optimization

5. Human Capital Continuum Think of it like climbing a real mountain. When you start at the bottom, it's easy to walk around and tell stories about what you see. This is like the first step of our journey. There's a person named Brinkerhoff who did some really good work. He talked about how we can learn from people's stories and experiences . It's like a mix of watching how people do things and understanding how they feel. This is useful for many things like understanding how people think, expert advice, and even medical studies. Another part of our journey involves something called "scorecards" and "dashboards ." These are like tools that help us keep track of our progress and show important information . They're like maps that guide us on our climb up the mountain . So, in simple words, we're talking about starting with easy things like telling stories, then learning from people's experiences. As we go up the mountain, we'll use tools like scorecards and dashboards to help us along the way. Just like climbing a mountain, things might get harder, but the more we climb, the better the view and the more we learn.

6. 6

7. Scorecards , are like special tools that help big companies keep track of how well they're doing. They're a bit like report cards in school , but for businesses. One popular type is called a " Balanced Scorecard." Imagine the company is like a big puzzle, and the scorecard helps put all the pieces together. It uses some clever tricks, like automated surveys, to see if the company is doing what it planned to do and if those plans are working out. These scorecards look at different things, like how much money the company is making (that's the financial part) and other important things that don't involve money, like how happy customers are (that's the nonfinancial part). They compare these things to what the company wanted to achieve. All this information is put into a single report, like a short summary. It's kind of like a snapshot that shows if the company is on the right track or if there are problems that need fixing. Scorecards are like a step forward in the company's journey. At this point, the company needs to decide on its main plans (strategies) and figure out the best ways to measure if those plans are working. It's like setting up the game rules before playing. This step is really important because it helps the company know what it's doing and if it's doing well

8. Dashboards   Think of a dashboard like a car's control panel . It's a special screen that shows the most important information about a company. Just like a driver can quickly see how fast they're going or how much fuel is left , a big boss (executive) can quickly see how well the company is doing. This dashboard is like a summary. It's made up of a few key numbers that tell the boss how the company is performing. Imagine it's like a scoreboard for a game , but for business stuff. Making a dashboard can be done in different ways. Sometimes, people put it together using things like spreadsheets , which are like digital notebooks. Other times, they might use special computer programs to make it fancy. So, a dashboard is like a quick way for a big boss to see how the company is doing , just like a driver checks their car's control panel. It's made of important numbers and can help the boss understand what's happening in the company .

9. Benchmarks  are another step on the continuum. Benchmarking has long been used as a standard tool; the idea is that studying the best-run companies in a specific area can be very beneficial in terms of setting things such as salary, training levels, desired turnover rates, and so forth. Copying what others do might not always work for you. It's like trying to be the best by doing the same as everyone else – it doesn't always make sense. So, while looking at other companies can help, you have to be careful and think about what's best for your own company.

10. Correlations and Causations: Think of correlations like finding interesting patterns in numbers . It's like noticing that when it's sunny, people buy more ice cream. Causation is when you figure out that one thing directly makes another thing happen . Like, eating ice cream can actually make you feel cold. Correlations on a Dashboard: Imagine you have a special screen showing numbers about your business, like which area has the most sales. That's a correlation – just finding out what's connected. Causation: Causation is when you figure out why things happen . It's more than just seeing a connection . For example, if you see more sales where employees are trained, you'd want to know if training actually causes better sales .

11. . Being Careful with Correlation and Causation: Remember, just because two things happen together (like rain and umbrellas) doesn't mean one causes the other. People often make mistakes by thinking they're connected when they might not be. Cascio and Boudreau's Criteria: They have three rules to prove causation: The two things must really be connected, not just a coincidence. One thing should happen before the other. You have to make sure no other reasons could explain the connection .

12. 12 Optimization means being really smart about finding where things are making the most difference . Imagine you're playing a game, and you want to know which moves make you win . That's optimization – figuring out the best moves. Understanding How Things Work: To optimize, you need to know why things happen. It's like figuring out why certain moves make you win the game. This is called "causation." Knowing All the Factors: If you want to be sure you're making the right choices, you have to know everything that affects the result. It's like knowing all the game rules and how different pieces move. Using What You Know to Improve: Once you've learned how everything works, you can use that knowledge to make things even better next time. It's like using your game strategy to win more often. Making Smart Choices: Imagine you know that having more experience (like playing the game a lot) makes you better at it. If you also know that training helps different experience levels, you can plan where to focus your training and create new tactics to help those who need it. So, optimization is about being super smart in understanding what makes things better. You learn all the rules, see how things work, and then use that knowledge to make everything even better in the future. Just like winning the game by knowing all the best moves!  

13. Let’s Answer Through Polling Exercise Do you think HR can help organizations to deliver value? Yes No 13

14. References Books Moore,D ., McCabe, G., Duckworth, W., and Alwan , L. 2008. The Practice of Business Statistics: Using Data for Decisions, 2 nd Ed., New York: W.H. Freeman. ISBN: 9781429221504 Fitz , J.,  Mattox II, J. 2014. Predictive Analytics for Human Resources. Wiley Publication. ISBN: 9781118893678 R1 Becker, B., Huselid , M., Ulrich, D. 2001. The HR Scorecard: Linking People, Strategy, and Performance. Harvard Business Press. ISBN: 9781578511365 Fitz , J.,  The New HR Analytics- Predicting the Economic Value of Your Company’s Human Capital Requirements. Harper Collins Publishers. ISBN: 9781118893678 Fitz , J.,  Mattox II, J. 2014. Human Capital Analytics-. How to Harness the Potential of Your Organization's Greatest Asset, Wiley Publication, ISBN- 9781118466766, Websites https://www.linkedin.com/pulse/human-capital-analytics-continuum-mihaly-nagy/ Video Links https://www.youtube.com/watch?v=kOu6GmedM4M 14

15. Summary 15 Becoming Lean is the Top Most Priority both in Personal & Organizational Front. HR Analytics can transform your organization into a Lean Organization through a number of ways. AI, HR Tools, HRIS, HR Metrics and of course Implementation & Interpretation of Statistical Tools can elevate your level. Hence, HR ANALYTICS is the NEED FOR LEAN ORGANIZATIONS. How HR has been successful in implementation of Customer Satisfaction.

16. Assessment Pattern 16 Components HT-1 HT-2 Assignment Surprise Test Business Quiz GD Forum Attendance Scaled Marks Max. Marks 10 10 6 4 4 4 2 40

17. 17 Thank you !!