Empowering Human Capital with Workforce Analytics
Many leading companies are using workforce reporting and analytics to help make better, more informed decisions about their human capital. By capitalizing on the latest analytical tools and techniques, they are improving acquisition, retention and rewards; reducing labor costs; improving productivity and employee effectiveness; and managing risk more effectively. To help their business colleagues make the most of workforce analytics, CIOs must understand the data, tools and delivery implications for the overall enterprise and be prepared to explain to HR leaders how these tools can help them “see around
Advanced tools are turning workforce data into powerful insights that help businesses navigate uncertainty.
In this installment of our “Tech Trends and Human Capital” series, we explain how organizations can use workforce analytics and present several success factors for deploying these tools.
How can organizations use Workforce Analytics?
Many organizations have been focusing the bulk of their reporting and analytical resources on core business activities—such as sales, marketing and financial reporting—and will likely continue to do so. However, as people and talent gain recognition as a key differentiator, an organization needs deeper insights about its workforce in order to guide its strategy.
Workforce issues, such as managing and retaining talent and controlling labor costs, are among the top challenges facing organizations today. A company that understands its workforce needs—better than its competitors do—may compete more effectively in the labor market and unlock more value from its workforce. Organizations that have invested in workforce analytics supported by the right processes and infrastructure—for example, integrating HR and talent systems; collecting consistent information across
functions; and managing operational, management and historical data—can uncover powerful insights. Read more about Empowering Human Capital with Workforce Analytics.