Back

Predictive Analytics in HR

Hosted by: Firmenich

Located at Firmenich’s impressive regional offices in Singapore, predictive HR analytics was the order of the day at our latest HR leaders roundtable in a series themed around ‘How HR is Evolving for the Future’.

We were joined by regional leaders from a host of major MNCs including including Abbott Laboratories, Ecolab, BP, Barry Callebaut, CBRE, PayPal and Procter & Gamble to name a few. Firmenich’s SVP HR Asia & Global Talent Nicholas Egger shared insights on his pioneering and successful implementation of predictive HR analytics within the 120-year-old global flavour and fragrance organisation, which provided the foundation for a stimulating discussion on how to approach the development and implementation of value adding HR predictive analytics models. This is a relevant topic for global organisations concerned with evolving their HR functions from being retrospective and focused on reporting to an increasingly pre-emptive and proactive mentality.

Our discussions highlighted the importance for HR leaders to address some key facets when considering an HR predictive analytics implementation.

Build your Business Case

Understand your business and be clear on what you’re looking to achieve, why and what metrics you require. Effective predictive analytics in HR has the capability of providing huge insight and impact on the bottom line and positioning it as such with business leaders is fundamental in ensuring buy in from the business. There are multiple potential uses for HR predictive analytics including identification of key talent at high risk of attrition, leadership/promotion selection insights and top candidate attraction and selection. When developing predictive analytics models, HR leaders need to identify focal points that have the most relevance to their own business and what is likely to have the most significant impact – that’s your start point.

null

Data, Data, Data

Success fundamentally lies in the accuracy and integrity of your data. A key learning from Firmenich’s journey was to start small and start simple with the accurate data that you have from your existing operations (e.g. historic headcounts, compensation figures etc). Once you have it right you can scale up, but start small and with a thorough focus on data preparation and ensuring data inputs are accurate and relevant. This stage will take some experimenting before you decide on the final list of inputs. Once finalised you must remain consistent moving forward to ensure the accuracy of the model.

Another learning was to allocate the ownership of data management to one individual who can manage the operational side, to ensure accuracy, efficiency and data integrity. Transparency and the accountability for the accuracy of the data is essential, as is installing an appropriate frequency and rigour in the process. By reviewing and analysing the data monthly it will become habitual, any less frequent and you dilute the impact.

Evolving HR Talent Landscape

The process of converting huge chunks of raw data into meaningful models is a complex one and data scientists are likely to become a fundamental part of any HR talent bench as we see predictive analytics and AI maturing and becoming more mainstream in HR. HR leaders need to be looking at the current skillsets within their HR teams and the areas where current capabilities are likely to be lacking. In the next 5-10 years there will be an increasing need for non-traditional HR backgrounds and skill-sets within HR teams and we will see a new wave of core HR roles emerge. Identifying these skill gaps and understanding where to find and how to attract this new talent will be key.

Plan, Action, Respond

Don’t let all the data legwork go to waste through a tardy response to the results that the predictive analytics models are producing. Be proactive in reacting to what the data is telling you; as soon as you have it sit down with the respective business leaders and have meaningful conversations driven by the data insights and formulate strategies to action. The end goal is to use predictive analytics as a tool to boost business results and as such optimise the strategic stature of HR as a function in the boardroom. HR leaders must strive to use these tangible insights to inform and influence decisions at the C-suite level.

By no means is this an exhaustive list of considerations given the intricacies of what is a complex and challenging process to undergo, however the above are fundamental considerations that any HR leader must address when looking to embark on and harness the benefits of a successful predictive analytics implementation.

We will see a rapid uptake and maturing of predictive HR analytics models in coming years given the insights and business impact successful models can achieve. Though still a relatively fledgling field in HR, that has to date been pioneered by a handful of large MNCs and through the trial and error of entrepreneurial, forward thinking HR leaders such as Nick Egger at Firmenich, predictive analytics in HR will become increasingly mainstream and essential part of any HR strategy. A tool that has the potential to significantly enhance the strategic prowess of HR in the boardroom, embarking on the implementation of predictive analytics should not be overlooked by any HR leader.

ChapmanCG would again like to thank the team at Firmenich for hosting the session and thank you to the all the senior HR leaders in attendance for their input and insights.

Newsletter

Keep up with the latest HR insights and updates.
Sign up

Recent Posts

Key Contributors:

Katherine Qu

Senior Director

Consulting Team
View more
Consulting Team

Katherine Qu

Senior Director

Katherine is a Senior Director with ChapmanCG, based in Singapore. She works with the global team to identify top HR talent across Asia, North America, and Europe.

Prior to joining ChapmanCG, Katherine started her own executive search business in Beijing, which focused on senior executive roles for leading Chinese companies in the consumer, healthcare and real estate industries. Subsequently, Katherine held positions with Hudson and Charterhouse Partnership, a boutique executive search firm based in Singapore. Katherine has also had extensive industry experience across different sectors with global leaders such as Pepsi, Pfizer, and Lenovo.

Katherine was born in China and was educated in both China and the United States, achieving her Master of Business Administration from the University of Maryland. She has worked in China, Singapore and the United States, and speaks both Mandarin and English fluently.

EA Registration Number: R1220091 Licence Number: 08S3543

Latest Articles by Katherine

Talent Development 14 January 2020

What Should You Consider for Your Next HR Move?

When considering the next move in your HR career, be sure to take a long-term…

ChapmanCGChapmanCG
Watch
Future of Work 16 December 2019

The Future Workforce

We recently brought together an expert group of Talent, Learning & OD Leaders for a…

Andrea Merrigan
Read
Talent Acquisition 25 November 2019

How Are Talent Acquisition and Employer Branding Evolving

Talent Acquisition and Employer Branding is evolving. Up for debate is how HR leaders are…

ChapmanCGChapmanCG
Watch
Talent Development 23 October 2019

What Are CHROs Looking For in Their Heads of Talent?

Chief HR Officers have seen their responsibilities evolve over the years and many are taking…

ChapmanCGChapmanCG
Watch
Wellbeing 7 October 2019

What Are the Trends for Workplace Mental Health?

Taking a more detailed look at the latest trends for workplace mental health, hear from…

ChapmanCGChapmanCG
Watch
Talent Development 25 September 2019

Shifting Talent Requirements for HR Teams

Data and analytics are being used not only to inform business decisions, but in the…

ChapmanCGChapmanCG
Watch
Talent Development 5 September 2019

How Can HR Business Partners Stand Out?

Our latest video features leading members of ChapmanCG discussing how they can help HR leaders…

ChapmanCGChapmanCG
Watch
Diversity and Inclusion 28 August 2019

Improving Diversity and Inclusion

Improving workplace diversity and inclusivity is a must in any business if you're to head…

ChapmanCGChapmanCG
Watch
HR Trends 11 August 2019

Trends in Employee and Workplace Wellbeing

Research into trends in employee and workplace wellbeing suggests that happier people are 12 percent…

Ben Davies
Watch
Talent Development 27 December 2018

How are HR Leaders’ Roles Evolving?

What will HR leaders’ roles look like in the future? The ChapmanCG share their observations…

ChapmanCGChapmanCG
Watch
Steve Brown

Managing Director

Consulting Team
View more
Consulting Team

Steve Brown

Managing Director

Steve Brown is Managing Director with ChapmanCG based between Singapore, Hong Kong, and Shanghai. He leads the ChapmanCG team across Southeast Asia and Greater China. Steve has 20+ years’ experience in the search industry, gained in the United Kingdom and the Asia Pacific.

Steve has developed a strong track record of successfully delivering multiple high-profile HR searches across Asia, and across various industry sectors. He is passionate about fostering long-term partnerships with HR influencers and top HR talent regionally and globally.

EA Registration Number: R1216206 Licence Number: 08S3543

Latest Articles by Steve

Global HR Updates 29 April 2020

Global HR Update Q2 2020

We are seeing the HR profession going through substantial change as a result of the…

ChapmanCGChapmanCG
Read
Employee Engagement 10 April 2020

Agile leadership in uncertain times

Around the world companies are going through drastic changes and the HR community has been…

ChapmanCGChapmanCG
Read
Talent Development 14 January 2020

What Should You Consider for Your Next HR Move?

When considering the next move in your HR career, be sure to take a long-term…

ChapmanCGChapmanCG
Watch
Future of Work 16 December 2019

The Future Workforce

We recently brought together an expert group of Talent, Learning & OD Leaders for a…

Andrea Merrigan
Read
Employee Engagement 6 December 2019

Cracking the Code on Employee Experience

Close to one hundred HR leaders came together and shared their thoughts and views on…

Katherine Qu
Read
Talent Development 23 October 2019

What Are CHROs Looking For in Their Heads of Talent?

Chief HR Officers have seen their responsibilities evolve over the years and many are taking…

ChapmanCGChapmanCG
Watch
Wellbeing 7 October 2019

What Are the Trends for Workplace Mental Health?

Taking a more detailed look at the latest trends for workplace mental health, hear from…

ChapmanCGChapmanCG
Watch
Talent Development 5 September 2019

How Can HR Business Partners Stand Out?

Our latest video features leading members of ChapmanCG discussing how they can help HR leaders…

ChapmanCGChapmanCG
Watch
Diversity and Inclusion 28 August 2019

Improving Diversity and Inclusion

Improving workplace diversity and inclusivity is a must in any business if you're to head…

ChapmanCGChapmanCG
Watch
Culture & Business Transformation 22 June 2019

Powering Business Transformation through Culture Shaping

Most businesses are embarking on a journey of transformation in this fast-changing business environment. Those…

Andrea Merrigan
Read