The goal of Human Resources analytics is to provide an organization with insights for effectively managing employees so that business goals can be reached quickly and efficiently. The challenge of human resources analytics is to identify what data should be captured and how to use the data to model and predict capabilities so the organization gets an optimal return on investment (ROI) on its human capital. Although most organizations have enough data to make analytics useful, the data is often created and stored in multiple places in multiple formats.
We make sense of all of this by delivering data insights that improve employee performance and retain key staff resulting in a better return on investment.
Developing a Workforce Strategic Plan
To meet the business objective of developing a strategic workforce plan, workforce composition can model how the workforce will be impacted by population aging. With this information, they can identify key positions for succession planning. Our solutions can assess the current headcount level, turnover trends, and projected turnover so that workforce capacity can be forecasted.
Managing Workforce Acquisition Costs
To meet the business objective of an efficient, cost-effective, and scalable recruiting process, recruiting specialists can see into the recruiting pipeline to help develop a recruitment plan. Starting from a high-level metric of new hires, analysis can guide them to drill down to see the best recruiting sources and candidate pipeline for specific jobs, along with such metrics as average time and cost to hire, to determine the best candidate source.
Optimizing your Compensation Structure
To meet the business objective of developing a competitive compensation plan that drives business results, the compensation manager can view employee compensation throughout the organization hierarchy, drilling down to look at groups that drive performance. Our solutions can show the correlation of pay with performance, pay with retention, and pay with new hire attraction.
Assuring HR Compliance
To meet the business objective of recruiting and promoting a diverse workforce, we can implement solutions to monitor the demographics of candidate pools and of the existing workforce. To meet the objective of reducing accidents, a specialist can see accident trends and assess safety and health risks of the workforce and then develop a health and safety risk mitigation plan.