Study-Unit Description

Study-Unit Description


CODE MGT5203

 
TITLE People Performance Metrics

 
LEVEL 05 - Postgraduate Modular Diploma or Degree Course

 
ECTS CREDITS 5

 
DEPARTMENT Management

 
DESCRIPTION HR Metrics and Analytics are two separate ways of assessing data. While metrics are used to derive information, analytics are generally used to feed into the company strategy mainly through their predictive application. In order to cover these aspects, the unit will be proportionally divided among the 5 phases of HR Metrics and Analytics, which are currently being adopted in most companies.

Phase 1 involves the identification of HR Metrics used in most companies nowadays (including; compensation, training, employee relations, health and safety etc.), and justification of HR Metrics used depending on the aims of the company; Phase 2 involves the definition of the metric which are presented in the form of a scorecard; Phase 3 involves the analysis of the outcomes generated from the metrics which lead to the initiation of discussions on HR analytics; Phase 4 is where the predictive modelling commences in order to gain better insights on the data collected; Phase 5 is the strategic phase whereby results are assessed against the company strategy, which can also change the direction of a number of decisions taken in the past.

Metrics and analytics are also used to measure the Return on Investment (ROI). Measuring ROI involves four consecutive phases including evaluation planning, data collection, data analysis and reporting. Lectures will be based on these stages.

Study-unit Aims:

The modern economy is data-driven and prospective managers have to be able to use data in a way that enhances their firm's competitive advantage. The aim of this unit is to bridge this gap between academia and industry by providing practical tools for students who wish to pursue a career as senior level managers. In a data-driven economy, the ability to collect, analyse and predict data is considered to be a vital skill for the leaders in the industry. In a nutshell, this study-unit aims to provide the tools to students to be able to use HR related metrics and analytics in a way that adds value to their workplace.

Learning Outcomes:

1. Knowledge & Understanding
By the end of the study-unit the student will be able to:

- identify the HR Metrics needed on the basis of the strategic direction of the firm;
- distinguish between the different data collection methods and identify the best method on the basis of a specific project or strategy;
- define different HR Metrics;
- design an HR Scorecard, depending on the Metrics identified;
- identify the difference between various predictive models to formulate future decisions;
- estimate the data collected in terms of costs and benefits;
- calculate the return on investment.

2. Skills
By the end of the study-unit the student will be able to:

- formulate decisions based on data and past evidence;
- create evidenced-based insights on HR matters;
- analyse information in a way to make predictions which helps in making the right decisions that will benefit not only the present but also the future of the company;
- evaluate the value of HR investment and its economic return;
- illustrate and communicate the results derived from HR Metrics.

Main Text/s and any supplementary readings:

Recommended Readings:

- DIRECTOR, S. 2012. Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy, Pearson Education.
- PHILLIPS, J. J. 2001. In Action: Measuring Return on Investment, American Society for Training and Development.

Supplementary Readings:

- BECKER, B. E., ULRICH, D. & HUSELID, M. A. 2013. The HR Scorecard: Linking People, Strategy, and Performance, Harvard Business Review Press.
- FITZ-ENZ, J. 2010. The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments, AMACOM.

 
STUDY-UNIT TYPE Lecture

 
METHOD OF ASSESSMENT
Assessment Component/s Assessment Due Resit Availability Weighting
Examination (3 Hours) SEM2 Yes 100%

 
LECTURER/S Vincent Cassar

 
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It should be noted that all the information in the study-unit description above applies to the academic year 2018/9, if study-unit is available during this academic year, and may be subject to change in subsequent years.

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