(Solution) CIPD_3CO02_23_03CO02 Principles of analytics

Solution

Section One

Explain what evidenced-based practice is and how it is applied within an organisation. (AC1.1) If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 300 words.
Definition of Evidence-Based Practice
According to CIPD (2022), evidence-based practice (EBP) is a policy-making method that analytically employs the best available evidence to update practices and choices. Evidence can be gathered from a wide range of sources, including internal and external business data, competitor information, data on human resources and other personnel, financial data, and so on.
How Evidence-Based Practice (EBP) apply to people’s professional role (HR)
To avoid making decisions based on preconceptions or prejudices, EBP is an indispensable resource for people’s professionals. EBP encourages making judgments based on principles rather than the current state of knowledge. Evidence-based processes guarantee that decisions are well-reasoned, open to scrutiny, and found in complex numbers. According to‌ Van (2018), this can enhance the efficiency of people’s practices and boost results for all involved parties (staff, management, and the company).  EBP can provide evidence-based guidance on the most effective recruitment and selection methods to ensure that suitable candidates are selected for the job. For example, psychometric exams can help identify candidates with the necessary skills, abilities, and personality traits for a particular position. These methods allow organizations to make more objective and informed hiring decisions based on evidence rather than personal bias or intuition. By using data to measure the success of hiring practices, organizations can identify which recruitment and selection methods are most effective and make informed decisions. :
Evidence can support principle-led decisions on reward systems by providing data-driven insights on the efficacy of different incentive systems. For instance, organizations can use data on employee engagement, turnover rates, and performance to determine which reward strategies are most effective in motivating employees and improving their job satisfaction. Moreover, principle-led decisions on reward can be guided by EBP, which provides evidence-based guidance on the most effective reward strategies. By using EBP, people’s  professionals can make data-driven decisions based on the most up-to-date research and best practices in the field, ensuring that reward systems are aligned with the organization’s strategic goals.                                                                                           
Explain the importance of using data in organisations. (AC1.2) If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words.
The importance of data in businesses, as argued by Linh (2021), cannot be assumed. Firstly, data reveals existing problems and issues that need addressing. With data, businesses rely on assumptions that can be accurate. Data provides an objective view of how an organization is performing. Secondly, data ensures that leaders make evidence-based decisions. They were using data ground decisions in facts rather than speculation. It helps uncover inefficiencies and opportunities for innovation (Wilson, 2020). Thirdly, data assist with setting goals, measuring performance, and tracking metrics over time. Metrics based on data provide targets and measure progress.
Importance of accuracy of data
Accuracy is critical for data to have value. Only accurate data can lead to sound strategies. Organizations must verify data, remove biases and outliers, and establish rigorous governance processes. Employees see that conclusions are logical rather than subjective, building trust in leadership and strategic direction. Data-driven insights reveal ways to improve processes and foster a results-oriented culture focused on improvement.
The impact that using data has on organizational culture and performance.
Linh (2021) states that using data can significantly impact organizational culture and performance. Here are some ways in which data can help shape corporate culture and improve performance;
Data-driven decision-making can improve accountability and transparency.
When organizations use data to inform their decisions, they are more likely to make objective and informed choices. This can help build a culture of accountability and transparency, as decisions are based on evidence rather than personal biases or opinions.
Continuous improvement through data analysis can lead to better overall performance.
Data can help organizations identify areas of weakness and opportunities for improvement. Organizations can continuously refine their processes and strategies by regularly collecting and analyzing data, improving performance over time.
Explain different types of data measurements that people professionals use. (AC1.3) If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words.
Quantitative and Qualitative Data Measurements Data measurements are essential tools that professionals use to make informed decisions in various areas of HR management. These quantities can be categorized into two types: qualitative and quantitative data. Pak et al. (2019) state that quantitative data measures are measurable, quantifiable, and analyzable. Quantitative data, however, refers to arithmetic data that can be measured and analyzed statistically.
Examples of qualitative data
Observation notes-   used to identify employee behavior patterns within the workplace 
Exit interview notes -can provide insights into why employees leave an organization. Exit interview notes can be used to determine the reasons behind employee turnover, which can inform retention strategies.
Example of Quantitative data
The number of employees can be used to track workforce growth or contraction, which can inform resourcing decisions.Absence data can be used to identify the impact of health and well-being initiatives or the need for additional support for employees.  As evidenced by Calzon (2023), Qualitative data can provide insights into employee experiences and perceptions, which can inform HR policies and practices. For example, performance appraisal reviews can identify areas of strengths and weaknesses in employees, which can inform L&D initiatives. Similarly, exit interview notes can be used to determine the reasons behind employee turnover, which can inform retention strategies. Quantitative data, on the other hand, can provide objective metrics for tracking progress and performance. For example, the number of employees can be used to track workforce growth or contraction, which can inform resourcing decisions. Similarly, absence data can be used to identify the impact of health and well-being initiatives or the need for additional support for employees (Calzon, 2023).
Explain how the application of agreed policies and procedures informs decisions. (AC1.6) If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words.
Policy
Taking a cue from Saeed et al. (2019), we define a policy as an internal document outlining the company’s preferred course of action for various situations. Managers and employees’ concepts, rights, and obligations are spelled out. According to Manonmani (2020), a policy is “an official agreement among individuals, organizations, or governments regarding how to respond to specified situations.” One example is Starbucks’ ethical sourcing policy. Starbucks’ policy outlines the company’s commitment to sourcing high-quality, ethically grown, and traded coffee beans. The policy includes guidelines for responsible sourcing practices, such as working directly with farmers and cooperatives, paying fair prices for coffee, promoting environmentally sustainable farming practices, and supporting local communities. Starbucks’ ethical sourcing policy chains decision-making by providing a strong set of guidelines for coffee buyers to follow when selecting coffee beans for the company.
Procedure
According to the definition provided by Saeed et al. (2019), a procedure is a set of guidelines for implementing policy. The protocols are crucial because they help drive home the values that all workers must uphold. A procedure used by the Starbucks coffee company includes cash handling procedures. Starbucks’ cash handling procedures outline the steps employees must follow when handling cash transactions to ensure that money is handled securely and accurately. The procedure includes guidelines for counting cash, making changes, and depositing money at the end of the day. Starbucks’ cash handling procedures support decision-making by providing guidelines for employees to follow, ensuring that cash transactions are consistently handled according to company standards. This helps minimize errors and prevent theft or loss of money, ultimately protecting the company’s bottom line.  

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