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Predictive Analytics for Human Resources by Jac Fitz-enz, John Mattox II

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Foreword

This remarkable book, written by two of the top thought leaders in the human capital industry, provides the roadmap on how to win the war on talent. By applying the principles laid out in this book, organizations can gain a huge competitive advantage.

Allow me to help put this in perspective. This is a trillion-dollar opportunity to create shareholder value. The evidence to support this claim is overwhelming. In the United States alone, corporations spend well over $6 trillion in labor expense per year. Every organization makes bad hires, conducts training programs that don’t generate sufficient returns, and has unqualified employees, weak leaders, disengaged employees, and a suboptimal workforce.

My company, KnowledgeAdvisors, provides predictive analytic solutions through its software, Metrics that Matter. Our data shows that organizations that effectively deploy an automated talent analytics solution embedding predictive analytics will see at least a 4 percent productivity improvement. A 4 percent increase in productivity on a labor spend of more than $6 trillion is approximately $250 billion in bottom-line improvement per year. Most companies trade well above a four times price per earnings multiple, resulting in a trillion-dollar opportunity in shareholder value. This analysis does not include other global economies, which makes the opportunity even larger.

Business leaders and human resource (HR) executives who do not deploy a predictive analytics solution for ...

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