Workforce Analytics for the Aerospace & Defense Industry
Taking your talent management to the next level
According to the Aviation Week 2012 Workforce Study conducted by Deloitte, when asked about the ability to meet the challenges of a volatile economy and dynamic business environment, respondents cited having a highly skilled workforce as the most important factor.
Talent management drives the attainment of a highly skilled workforce, and aerospace & defense (A&D) companies — who have long faced a pressing need for skilled workers — are frequently cited as having leading talent management programs. Such programs can increase interest among students to pursue a science, technology, engineering and mathematics education (STEM), can create learning pathways for career advancement, and can recognize and reward performance.
But what if having these programs is still not enough for an A&D company to fulfill its skilled workforce requirements and remain competitive?
Where does it go from here?
We believe workforce analytics can be used by A&D companies to make more effective decisions about the design and application of these talent management programs to take them to the next level. With a relatively small investment, HR organizations can see a large return in the more effective acquisition, development, and deployment of talent.
What is workforce analytics?
Traditional workforce reporting has used spreadsheets and databases that primarily analyze historical, internal workforce data with predictable results: poorly timed delivery of information with questionable data integrity that yield few actionable insights.
Workforce analytics is different. It combines a wide range of internal and external data sources with algorithms and insight from cognitive sciences to identify the leading drivers of workforce requirements and worker actions and behaviors. For example, more than 100 data elements, including changes in Gross Domestic Product, an individual’s personal time off habits, and supervisor performance ratings have been identified as leading drivers of an individual’s retention risk. This in turn can help target and align talent management program designs and actions to the individual worker level.
How does workforce analytics apply to critical talent management capabilities in our industry?
- Workforce planning analytics
- Talent acquisition
- Talent development
- Retention analytics
Read more about the foundational elements of building a workforce analytics capability by downloading the full document.
As used in this document, 'Deloitte' means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.Certain services may not be available to attest clients under the rules and regulations of public accounting.