How can HR leaders demonstrate the value of their people investments to the organization? Dr. Solange Charas, Lecturer in the Human Capital Management program, discusses how organizations can act on their human capital data to create meaningful insights, as well as the ability to, and importance of, measuring equity.
Dr. Charas is a senior-level human resources expert with over thirty years of experience as a consultant, practice leader, top corporate executive, and board director across all industry sectors. She was the Chief Human Resources Officer at Havas Worldwide, Benfield Group, and Praetorian Financial Services Group, and held senior-level positions at Ernst & Young and Arthur Andersen. She serves of the boards of two public companies, a non-profit organization, and a higher-education institution. She is the Founder and CEO of two organizations: Charas Consulting (2000) and HC Moneyball (2019).
HC Moneyball is a turn-key solution that transforms HR data into actionable insights. The article provides an overview of the company's HCMetrix™ platform, which is designed to provide senior management the information needed to track and benchmark human capital measures against other financial performance data, understand the efficiencies of an organization's HR programs, predict and forecast performance, and calculate the ROI of people programs correlated to corporate financial performance.
We are at the beginning of a new era related to understanding human capital performance analytics and tracking. Based on decades of academic research, the idea of standard approaches or 'algorithms' to calculate key human capital key performance indicators is making its way into the practitioner’s community.— Solange Charas, PhD, Lecturer, M.S. in Human Capital Management
Dr. Charas discusses how the global pandemic has caused companies to rethink how they are treating employees, and how the Black Lives Matter movement has demanded corporate commitment to substantive Diversity, Equity, and Inclusion improvements. The HCMetrix™ Equity module allows for organizations to understand their Equity profile against six key measures: Pay, Mobility/Advancement, Training, Attrition, Velocity, and Recruiting.
"There is ample research supporting the relationship between financial performance and diversity, ‘fairness’ and inclusion. It is critical to not only measure the organization’s performance against diversity and equity, but to be transparent about it. If organizations are doing well, then boast about it. If not, create a strategy to address the inequities and make a commitment to do better by all employees."
Article author Bruce Bolger, the Managing Director and Founder of Engagement Strategies Media, adds, "Dr. Charas says that it is her personal passion to contribute to the future of the HR profession by teaching the next generation of HR professionals how to integrate data analytics and financially based decision-making into their management practice. She hopes that the next generation of human resources leaders will be trained in the applications of analytics to address critical business challenges and opportunities and represent the HR function effectively at the management table by translating HR into the language of business–finance."