Benchmarking & What-If Analysis

Vemo

Benchmarking Metric Benchmarking can be a great way to compare your metrics to industry best practices, however accessing relevant benchmarking data for you industry is not always easy to obtain or broadly available for every industry. Most enterprise organizations are big enough to benchmark against themselves and with our Analytics tool they can do just that. Take turnover comparisons by performance ranking, for example.

Solidifying a Competitive Advantage with Engagement Benchmarking

Ultimate Software

Benchmarking enables companies to compare organizational metrics with their peers and competitors, confirming strengths and opportunities for improvement. Many businesses already use benchmarking to analyze their learning and development (L&D) spending, recruiting, and organizational design, but far fewer are actively measuring and benchmarking their employee engagement scores. Enter sentiment analysis.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

How to Save Your Company from Unhealthy Turnover and Optimize Retention

Bonusly

High turnover is a major concern for many organizations. But how do you know if your turnover really is an issue? Let’s take an analytical approach to retention. Turnover is a key HR metric and tends to be understood by leadership as a serious risk. If you are looking to leverage people analytics, retention is a great place to start. A high turnover rate likely gets your attention, but what else should you be paying attention to? Pre-turnover red flags.

How To Calculate Employee Turnover and Retention Rates

ForUsAll

Your goal: figure out the specific calculations for important employment metrics like turnover rate and retention rate. Use these links to get straight to the information you need: How to Calculate Employee Turnover Rate. How to Calculate Employee Turnover Cost. How to Calculate Employee Retention Rate. An Important Note About Calculating Employee Turnover and Retention Rates. Compare Your Employee Turnover Rate to 2018 Industry Averages.

Top Five Turnover Causes

HSD Metrics

Data-driven Insights for Employee Retention. ExitRight ® recently updated its ExitRight norms based upon responses to benchmarked questions from all clients during 2016 and 2017. In our most recent norm analysis, we found interesting results by industry—and for employee turnover as a whole—that we’d like to share. Here are 2017’s top five employer influenced turnover causes across all industries, pulled from a list of 12 reasons. Employee Retention

Top Five Turnover Causes

HSD Metrics

Data-driven Insights for Employee Retention. ExitRight ® recently updated its ExitRight norms based upon responses to benchmarked questions from all clients during 2016 and 2017. In our most recent norm analysis, we found interesting results by industry—and for employee turnover as a whole—that we’d like to share. Here are 2017’s top five employer influenced turnover causes across all industries, pulled from a list of 12 reasons. Employee Retention

When Compensation is the Cure to Turnover, Skill Gaps and Hiring Holdups

Insperity

High turnover, skill gaps and slow time-to-fill a vacancy, when frequently associated with a particular role, could all indicate the same issue. Compensation analysis. In cases like these, it’s worthwhile to hire a recruiting firm to conduct a compensation analysis for you if you’re having trouble hiring or keeping people in a particular position over time. A well-developed HR strategy can dramatically improve your recruiting and retention.

Replacement Planning: 3 Steps to Develop Your Organization’s Strategy

HR Bartender

A certain amount of turnover is healthy for the business, as are certain types of turnover (for example, the dismissal of a toxic employee). Using that as your benchmark, which positions must be filled in less time? And you should have much of this information from your workforce plan and staffing analysis. Again, your staffing analysis should contain this information. Recruiting and Retention Strategy and Planning SHRM strategic planning

HSD Metrics® Expands Staff With Hiring of Brittany Tony

HSD Metrics

Tony will provide expertise in all aspects of exit interview services from marketing through setup and delivery of ExitRight turnover data. Additionally, she will provide analysis and client support as HSD Metrics continues to build innovative offerings. For most organizations today retention is a priority, and accurate, timely data is the first step to decreasing turnover.”.

HSD Metrics® Expands ExitRight® Staff With Hiring of Tina Califano

HSD Metrics

Califano will provide expertise in all aspects of exit interview services from marketing through set up and delivery of ExitRight turnover data. Additionally, she will provide analysis and client support as HSD Metrics continues to build innovative offerings. For most organizations today retention is a priority, and accurate, timely data is the first step to decreasing turnover.”.

What is HR Data Analytics & How Do We Leverage It?

Ultimate Software

While data and analytics are often used interchangeably, data is the source of information and analytics is the process of applying statistics, modeling, and analysis to make sense of the data’s insights. The analysis reveals how to best attract , manage , and retain employees—improving employee satisfaction, productivity, corporate culture, and ROI. From Data Reporting to Prediction: A Retention Case Study. Last year’s annual employee turnover.

Retaining Managers: New Data Reveals the Impact of People Analytics

Visier - Talent Acquisition

Reducing Manager Turnover: Does People Analytics Drive Results? In terms of addressing manager turnover, a big question for many HR leaders is whether people analytics actually delivers value. banking franchise reduced annual turnover for customer account managers by 44% with our people analytics platform. Our platform also helped an analytics company achieve $6 million in savings through turnover reduction. Insight #2: Visier customers lowered manager turnover by 17%.

Strength in Numbers

HRO Today

We undertook a thorough review of each of the legacy company’s policies and benchmarked industry standards as well. With the survey responses, we do considerable analysis to help us understand where we have issues and where we don’t. For example, we use regression analysis of survey data combined with our HRIS data to understand key drivers of engagement and retention.

Top 20 Employee Pulse Survey Tools

Vantage Circle

Pulse survey tool offers an excellent way to set an industry benchmark for companies and gain insights into employee survey. Peakon has evolved to become a full-fledged SaaS for employee retention. Benchmarking. Feedback Analysis. Statistical Analysis. Benchmarking.

Top 20 Employee Pulse Survey Tools

Vantage Circle

Pulse survey tool offers an excellent way to set an industry benchmark for companies and gain insights into employee survey. Peakon has evolved to become a full-fledged SaaS for employee retention. Benchmarking. Feedback Analysis. Statistical Analysis. Benchmarking.

Five Powerful Ways Your HR Team Can Leverage Big Data

SuccessFactors

But analysis is crucial if you want to reveal patterns and trends to improve your business. Analyzing Big Data helps businesses get better insights, understand processes within the company, make important business decisions according to patterns found in research and analysis, and plan strategic business moves. Analyzing various internal surveys can help HR understand what improves retention. learn how to benchmark workers effectively.

The Employee Engagement Hoax? What Every HR Professional Needs to Know

Visier

Employee turnover was around 4%, most of it involuntary or driven by economics. Today, educated and skilled people are in short supply, with an average turnover above 10%. Certainly annual engagement surveys do encourage companies to measure themselves against the average, and to treat benchmarks as goals, rather than to develop engagement goals based on their business and people strategies. Analysis of an engagement survey’s results is not analytics.

13 HR Nightmares to Avoid This Halloween

Achievers - Recruiting

Deloitte researchers did in-depth studies on this topic, and they learned that companies with a culture of recognition enjoy 31 percent less voluntary turnover than their low-recognition peers. . The dread of being trapped in a dead-end job plays a major role in voluntary turnover.

Data Journalism for HR: The Beginner’s Guide

Visier

The narrative in this piece weaves various annotated and interactive data visualizations into text that presents a human interest angle, quotes from experts, and analysis of specific statistics. Whether it’s the role of non-monetary rewards in driving performance or the link between employee turnover and customer retention, collective mental models about how people actually drive business performance can be inaccurate, leading to gradual but potentially damaging effects in the long-term.

Data 217

Putting rewards to work in your M&A deal

Bersin

Conjoint analysis, an advanced survey technique that forces trade-off decisions, is used in the rewards optimization approach to provide the insight into employees’ everyday concerns and the rewards program features that are most or least important or valuable to those employees. Combining this workforce insight with employer cost and competitor benchmarks can lead to the most optimal future program design. Posted by Stacey Philpot and Joan Goodwin on September 1 3 , 2019.

5 Things Your CEO Needs to Know About Employee Engagement 

Achievers - Recruiting

The benchmarks for improving the engagement and well-being of workers all center around revisioning the company as a social enterprise with a human focus. Organization that rate their culture of recognition highly are 3x more likely to see increased employee retention, 2.5x

8 Questions to Ask for Effective HR Reports

EmployeeConnect

It’s critical to evaluate staff strengths and weaknesses, training, education and the company’s current and long-term needs to determine which information and benchmarks are critical for defining progress or indicating that remediation is needed. The ability to generate custom HR reports is critical because the benchmarking process varies widely among departments and company stakeholders.

Report 126

Top 10 HR Trends to Watch in 2020.

CuteHR

When you consider the fact that millennials now make up the majority of the workforce and are defining the new age organizational culture, we realize that they are setting the benchmark of all change drivers. For Example, an organization that is struggling with a high rate of employee turnover may not be knowing the exact reason behind the same. identify the rationale and eventually devise a strong retention plan to retain top talent.

15 HR Analytics Case Studies with Business Impact

Analytics in HR

This information was provided anonymously to managers so they could reduce turnover risk factors and retain their people better. Turnover at Experian. The company was facing levels of turnover that were 3-4% higher than they wanted it to be. A similar analysis was done at IBM, where turnover was high for certain business-critical roles. The investment yielded $ 300,000,000 over four years and turnover for critical roles has fallen by 25%.

Managing PRN Costs

DATIS

Many organizations are struggling with long recruiting cycles, high turnover, and an aging workforce. However, it is important to conduct an analysis of your organization’s labor levels and practices to establish appropriate usage rates for premium staff. However, with robust reporting capabilities, historical PRN utilization trends can be analyzed to provide a benchmark level of utilization on a month-to-month basis that allows scheduling managers to be more prepared.

The Employee Experience Imperative: Q&A with David Johnson

Ultimate Software

Lower employee turnover. The factors that affect employee turnover vary by industry and job role, but excessive workload is a top culprit across the board. Conversely, several studies show that when employers pay close attention to employee workload and help employees balance the demands of their jobs with key resources such as technology and training, they can sharply reduce burnout and employee turnover.

AON 121

How to Avoid Talent Gaps with Data-Driven Succession Planning

Visier - Talent Acquisition

Based on the analytics for this fictitious organization, it’s easy to see the size of the bench by position and the number of candidates ready now and over the next couple of years: This analysis shows the size of the succession candidate pool by position and candidate readiness. Digging deeper can also show if the succession pool is viable over the long-term based on employees proximity to retirement: This analysis shows how close to retirement employees in the succession pool might be.

View from the HR Tech Show Floor: Top 5 Workforce Trends

Visier

They are varied, but we are seeing HR focus on critical areas such as retention, recruiting, diversity requirements, and generational divides. Here are our top 5 trends for the not-so-distant future: Trend #1: Companies will double-down on retention and recruiting. In the improving economy, retention challenges will arise as workers become more confident in exploring new jobs.

Trends 150

The Employee Engagement Hoax? What Every HR Professional Needs to Know

Visier

Employee turnover was around 4%, most of it involuntary or driven by economics. Today, educated and skilled people are in short supply, with an average turnover above 10%. Certainly annual engagement surveys do encourage companies to measure themselves against the average, and to treat benchmarks as goals, rather than to develop engagement goals based on their business and people strategies. Analysis of an engagement survey’s results is not analytics.

Top 10 People Analytics Difference Makers to Look For

Visier - Talent Acquisition

Visier has the pre-built questions and data flows already mapped out to guide your analysis and turn data into action. . Growing rapidly, these records are anonymized and available to all customers, enabling you to benchmark against trends within your industry such as age, gender, resignation rates, promotion, ethnicity, and more. Guided analysis like this ensure you stay on track and are informed of the outliers. . Travelling to HR Tech next week ?

Data 51

The Role Of HR Analytics In Workforce Planning

Get Hppy

The most recent JOLTS , or Job Openings and Labor Turnover Survey published by the US Bureau of Labor Statistics , puts the the latest job openings level registered in November 2015 at 5,431,000(p). After collecting enough data regarding employment, attrition, necessary skills and performance metrics, most companies proceed to benchmarking them against ideal metrics and industry standards.

A Full Guide to Compensation and Benefits

Digital HR Tech

While their findings were statistically significant and turnover is expensive, it’s probably not enough to convince a boss to give someone a 10 percent raise. They found a strong correlation between pay and engagement (and engagement profoundly influences retention ), but what was stronger is pay clarity. Research shows that both distributive fairness and procedural fairness lead to higher employee retention.

New Virtual Reality

HRO Today

Internally, the talent acquisition team looks at turnover and demographic data to determine where the workforce is growing, where it is contracting, and how it aligns with the broader business plan. The resulting analysis narrowed down the field to 12 predictive factors, including things like work ethic, learning mentality, service orientation, and process orientation, that were then integrated into the application experience via situational judgment scenarios.

How to Be Agile Through a Volatile Reopening

Visier - Talent Acquisition

Plans will be constantly disrupted through change in employee behavior either through absence , resistance to certain working conditions, and turnover. This analysis shows the projected headcount trend by location. This analysis shows the trendlines of projected revenue by projected units produced in a reduction in force scenario. But this doesn’t mean leaders should assume that retention is no longer an important area of focus.

45+ Employee Experience Terms you have to know

Analytics in HR

For instance, in an absenteeism analysis we saw that the chance of a long absence strongly increased after the second instance of absenteeism. Employee centricity is a corollary of customer-centricity (focusing on customer wishes and using this to generate turnover, instead of generating turnover in the short term without using customer wishes as a starting point). That’s why it’s important to benchmark the score against other organizations in the same sector.

Going Beyond Basic Benefits

HRO Today

By building a family-friendly workplace, employers can do more than just lift the burden off their employees: They can improve productivity, employee engagement, loyalty, retention, diversity, and ultimately, business performance. Benchmark. Finally, organizations can gain valuable insights by turning outwards and examining benchmarking data. Ultimately, the increased flexibility lowers turnover and increases productivity, offsetting the initial financial burden. “In

CHRO 57

Engaging the workforce

HR Times

Performance and retention: Organizations with engaged workers may have employees who are 57 percent more effective and 87 percent less likely to leave than organizations with low engagement. This retention aspect is particularly pertinent. An organization’s ability to keep employees engaged is a valuable retention tool and a hedge against voluntary turnover. 7 Sherman Garr, Stacia, The diversity and inclusion benchmarking report: An analysis of the current landscape.

ADP 69

Engaging the workforce

HR Times

Performance and retention: Organizations with engaged workers may have employees who are 57 percent more effective and 87 percent less likely to leave than organizations with low engagement. This retention aspect is particularly pertinent. An organization’s ability to keep employees engaged is a valuable retention tool and a hedge against voluntary turnover. 7 Sherman Garr, Stacia, The diversity and inclusion benchmarking report: An analysis of the current landscape.

ADP 69

From Shop Steward To Today’s Employee Relations Specialist – Indirect Route Into HR.

New to HR

Analysis. An analysis of existing employment policies, procedures, and practices. An analysis of the existing workforce profile. An appropriate benchmarking exercise, such as comparing the organisation’s workforce profile with those of other organisations within the same sector, or the development of other meaningful comparisons. By Nicole Dominique Le Maire – @NewToHR.

KPIs Alone Will Not Fix The Diversity Problem

SuccessFactors

And when it comes to business objectives, KPIs are our go-to benchmark. We know bias in business undermines employee commitment, performance, and retention. Last year, a study from the Center for Talent Innovation showed that companies are likely to experience less innovation and productivity alongside higher staff turnover costs and fatigue when employees perceive bias. We also take a data-driven approach to the analysis of pay discrepancy.