The New HR Analytics
Predicting the Economic Value of Your Company's Human Capital Investments
By: Jac Fitz-enz
Published: May 2010
Format: Hardcover, 368pp
ISBN-13: 9780814416433
ISBN-10: 0814416438
Publisher: AMACOM
"We are on the threshold of the most exciting and promising phase of the evolution of human resources and human capital management", writes the acknowledged father of human capital strategic analysis Jac Fitz-enz, in his groundbreaking and visionary book The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments. The author demonstrates, through a series of essays, written by leading human resource experts including himself, that Human Resources is not a cost to a company, but a measurable, and predictable contributor to overall corporate productivity and profitability.
Jac Fitz-enz understands that employees long been considered a cost to the company, and that their contribution to the bottom line is nebulous at best. Defying that conventional wisdom, the author creates a revolutionary new methodology that describes the contribution of the employees. In a field where anecdotes and opinions were long considered the only measurements available, Jac Fitz-enz pioneered a business based approach and quantifiable data to measure those results. While that achievement is monumental itself, the author takes the concept of quantifiable metrics much farther with this book. Not only are past employee outcomes measurable, but Lac Fitz-enz describes how future results of employee capital investment can also be predicted using advanced HR analytics.
Jac Fitz-enz (photo left) utilizes modern mathematical and statistical tools to create the first system of predictive management called HCM:21. This exciting new process begins by scanning the marketplace, continues through workforce planning and optimizing the delivery of HR services, and concludes with an integrated management system. The holistic approach to predictive analytics is bolstered by a strong presentation of the underlying theory, and is further illustrated through case studies of the process in operation in real world settings. The system transforms HR delivery services into measurable revenue and value generation metrics. These advanced analytics move beyond the reporting level, and become predictive tools and sources of business intelligence.
For me, the power of the book is how Jac Fitz-enz builds a powerful case for modernizing HR management into one of predictive analytics. The recommended HCM:21 system of predictive management is explained clearly, in a step by step format, that provides a framework for applying it to any organization. While the author provides his own expert and insightful analysis, the book contains original research papers by noted experts in the burgeoning field of predictive management. The book contains an informative blend of the theoretical basis of predictive analysis and a practical approach for initiating the system into a company. Along with the practical guidance, the book contains the essential information for readers to work through their data and metrics. The inclusion of several successful and illustrative case studies demonstrate the practicality and ease of application of predictive analysis, as well as pointing to their value building results.
I highly recommend the seminal book The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments by Jac Fitz-enz, to anyone seeking a serious and workable predictive analysis system for any company. This book is destined to become a classic in the field of HR analytics, and for the creation of statistical and mathematical based metrics for measuring and predicting the future value added by employee investment.
Read the landmark book The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments by Jac Fitz-enz, and discover the transformational power of predictive analytics. Instead of relying on anecdotes or outdated conventional wisdom that considers employee investment to be a cost, put HR analytics to work to measure current employee value, and predict the value added by future employee capital investment.
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