Top 5 Workforce Planning Tools

TalenX

When it comes to delivering real business insights, providing a holistic view of the workforce, increasing productivity, efficiency, and effectiveness, and aligning talent and business strategies, nothing does it better than workforce planning. What is a workforce planning tool?

Why Integrated Workforce Planning Is Vital for Business Agility

Workday

The remote workforce is here to stay. Kate Lister, president of Global Workplace Analytics, estimates that by 2025, about 70% of the workforce will work remotely at least one business week each month. What effect will they have on workforce efficiency and productivity ?

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Strategic workforce planning: why and how to begin

Insperity

You probably have a hiring plan. But do you conduct strategic workforce planning? Perhaps the desire to increase profits in the upcoming year demands headcount adjustments, and so plans are made to grow or reduce staff, contractors or consultants. Develop an action plan.

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. What-If Analysis Our tool provides proven and reliable predictive forecasts.

The Skills Gap Analysis – A Full Guide

Digital HR Tech

In a time where companies experience a rapidly growing need to re-and upskill their people, the skills gap analysis becomes an increasingly relevant tool. Content What is a skills gap analysis? Why is a skills gap analysis useful? What is a skills gap analysis?

The Role Of HR Analytics In Workforce Planning

Get Hppy

An unprecedented increase in job openings shows that the demand for talent is forcing companies to plan better and recruit better. Workforce planning and HR analytics have become a key focus point for HR professionals around the world, as they confront new challenges in finding and retaining the right employees. Companies cannot hire fast enough to keep up with their workforce demands.”. The challenge of workforce planning.

5 HR Analyst Job Descriptions – A Brief Analysis

Analytics in HR

Perform basic analysis and provide feedback regarding issues, opportunities, or challenges. Under direction and supervision, the Compensation Analyst will be responsible for assisting in the interpretation of compensation policy, job evaluation and design, market pricing, and compensation benchmarking. Works with Human Resources team and first line managers to provide analysis and guidance on a variety of compensation related issues. Collect and organize data for analysis.

How to Avoid Talent Gaps with Data-Driven Succession Planning

Visier - Talent Acquisition

According to the Association for Talent Development , only 35% of organizations have a formalized succession planning process. As with most things, the best way to manage these risks is to be prepared and to have a plan. Succession planning with data.

The power of payroll data: An interview with a leader in data management, BI, and people analytics

Visier - Talent Acquisition

Dave Wallis: Because the cost of payroll typically represents the largest workforce-driven financial impact on business, it can provide a great deal of actionable insight. Through interactive analysis, HR. Workforce Planning

HR’s New Year Resolution: Move Up the Workforce Intelligence Maturity Curve

Visier

While workforce analytics and workforce planning are increasing in priority , most organizations have not progressed to take advantage of the opportunity that workforce data provides. This provides little in efficiency and, more critically, little business impact that comes from connecting workforce data to business outcomes. This is why HR’s goal this year should be to move up the Workforce Intelligence Maturity Curve as quickly as possible.

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3 Myths About Payroll Service Bureaus and Efficiency

Workday

As a result, the platform keeps payroll up to date and frees the payroll team from data entry tasks, allowing it to put more focus on data analysis for making strategic business decisions. According to The Deloitte Global Payroll Benchmarking Survey conducted in 2020, 73% of organizations outsource some aspect of payroll. Workforce Planning HR Transformation Human Resources Finance Payroll COVID-19

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. Planning. Survey analysis can also help HR: plan new, more effective talent-retention programs. learn how to benchmark workers effectively.

Workforce Analytics: The world is bigger than your HRIS

Burning Glass Technologies

In a data-driven world, HR teams are increasingly taking notice regarding the importance of workforce analytics. But analysis is only as good as the data from which it is drawn. Despite the advent of this culture of analytics, companies across industries continue to rack up massive and costly workforce failures. Your internal HR data offers valuable information about the skills, experience, and retention rates of your current workforce.

See Burning Glass Technologies Solutions at HR Tech 2017

Burning Glass Technologies

In A Data and Skills Driven Strategy: Cisco’s Talent Cloud Empowering the Optimal Workforce , Cisco will discuss how big data analysis of millions of job postings, powered by Burning Glass technology, allows the company to stay ahead of its skills needs. Burning Glass data allows Cisco to identify emerging trends in the job market, benchmark its hiring against competitors, and engage employees with career development options.

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

HR Bartender

If there’s one activity that has more of an impact than succession planning, it’s replacement planning. A replacement plan identifies “backups” for positions. Replacement planning is often mentioned in conjunction with succession planning because it identifies individuals who can assume roles at some point in the future and shows how ready they are for that role. And recruiters will want to have a say in how that plan is developed.

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

Ultimate Software

But in contrast to the murky ethics of sourcing and selling consumer-driven data , leveraging internal HR data analytics to make better workforce decisions has been a key Human Resources best practice for decades. 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. Data is now the most valuable currency in the world.

Performance Management in 2020: Key Finance Industry Insights

Reflektive

This summer, Reflektive launched a Performance Management Benchmark Report to identify both consistencies and changes in how companies run their performance programs. Financial services firms are also more likely to use 1:1s, and anticipate more workforce changes in the future. .

Impress Your CEO With These Strategic Business Impact Recruiting Metrics

Visier

This overall HR metric demonstrates the increasing revenue value that your workforce is creating as a result of good HR and recruiting. And it is easily compared between firms in the same industry to demonstrate that your workforce is more productive than your competitor’s. Workforce planning. The Benchmark Firm to Follow Is Google. Many Talent Acquisition leaders look for benchmark firms that can serve as a model that they can follow.

Build vs. Rent: Don’t Crash on the Do-It-Yourself Iceberg for People Analytics

Visier

While the same talent challenges are spurring companies to become more data-driven in workforce decision making, the approaches they are taking fall mainly into two different camps: build or rent. And this only includes the workforce analytics component of the solution. A true people analytics solution will also be part of a people strategy platform that enables data-driven workforce planning — a capability set not supported by BI tools.

Understanding the Employee Engagement Survey Provider Landscape: A Guide to the 6 Vendor Types -

DecisionWise

We recommend pulse surveys as a compliment to a yearly comprehensive employee engagement survey to target specific initiatives and to gauge action planning progress. The service typically includes a standard employee survey with little or no customization, templated reports, benchmarking comparisons, and prescribed recommendations. They offer many additional services including help with mergers and acquisitions, compensation plans, workforce planning, and benefits structuring.

Understanding the Employee Engagement Survey Provider Landscape: A Guide to the 6 Vendor Types - DecisionWise

DecisionWise

We recommend pulse surveys as a compliment to a yearly comprehensive employee engagement survey to target specific initiatives and to gauge action planning progress. The service typically includes a standard employee survey with little or no customization, templated reports, benchmarking comparisons, and prescribed recommendations. They offer many additional services including help with mergers and acquisitions, compensation plans, workforce planning, and benefits structuring.

How ‘smart automation’ can boost HR to world-class levels

HRExecutive

The Hackett Group’s new Digital World Class analysis found that those typical HR organizations can reduce costs by 17% and operate with 26% fewer staff hours—while also improving effectiveness and internal customer experience. As a result, the Hackett Group has added “customer experience” as a separate area of analysis, measurement and transformation focus. He says a holistic transformation plan describing how to engage and partner with the business is key.

HRExaminer Watchlist: Analytics Integration: OneModel

HR Examiner

OneModel also supports the use of external data models and data sets for tasks like workforce planning, curriculum development, pipeline analysis, commute time calculations, demographic comparisons, or stock market analysis of competing employers. The first is templated toolkits for specific purposes that can give you a quick start and repeatable/benchmarkable processes. Analytics Integration: OneModel. Category: Data Workbench. Company Name: OneModel.

4 ways tech can help you retain women

HRExecutive

In recent months, Carter says, the company has been encouraging employers to think through real-time issues like women leaving the workforce amid the pandemic—so that they can proactively tackle the issue instead of instituting reactive measures.

How to Keep Your HR Engine Running During Economic Slowdowns

Zenefits

To know what to focus on, conduct a cost-benefit analysis of your HR processes and programs. Also, during workforce planning, make sure you consider the current and future state of the labor market.

Predictive Analytics - See the future of your organization

Vemo

Integrating historical HRMS, talent, learning, financials and benchmarking data is powerful fuel to get a predictive analytics engine running. Once a fully functional workforce analytics program is in place HR can empower their business leaders, operational executives, and front-line managers with role-based information that’s easy to understand and act on. Vemo offers enterprise Cloud-Based Workforce Planning and Analytics technology.

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11 HR Analytics Courses Online

Analytics in HR

You will learn to: Leverage strategic workforce planning to make better decisions. R goes further than the traditional tools that are used for HR data benchmarking and analysis, like Microsoft Excel, Access, and SPSS. The Massachusetts Institute of Technology (MIT) offers a deep-dive into data analysis. The program dives into the different techniques of data analysis, much like the Data Mining with Weka course.

A Practitioner’s Guide on Organizational Effectiveness

Digital HR Tech

Level of analysis. What level of analysis applies? What is the time frame used for the analysis? This may indicate a disconnect between senior management and the broader workforce, which is a danger to organizational effectiveness. Workforce capabilities.

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 ?

Impress Your CEO With These Strategic Business Impact Recruiting Metrics

Visier

This overall HR metric demonstrates the increasing revenue value that your workforce is creating as a result of good HR and recruiting. And it is easily compared between firms in the same industry to demonstrate that your workforce is more productive than your competitor’s. Workforce planning. The Benchmark Firm to Follow Is Google. Many Talent Acquisition leaders look for benchmark firms that can serve as a model that they can follow.

6 Areas Where People Analytics Can Help HR Get Ahead

Career Metis

This helps to even the playing field, creating more diverse, more dynamic workforces in the process. 2) Strategic and Tactical Workforce Planning. It wasn’t too long ago that workforce planning meant capturing employee entries and exists on Excel sheets.

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

Visier

This means more organizations will take a more proactive approach to planning. To achieve this, it will be crucial to identify critical resources, forecast turnover, and develop more accurate hiring plans based on delivering talent for critical business strategies. Trend #2: Organizations will move their focus from headcount to total workforce costs. Trend #5: From analyzing the past, to planning and predicting the future.

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The Immutable Laws of Compensation (Part 2)

Compensation Cafe

First Corollary: Every market analysis is the result of a cascading series of subjective assumptions, approximations, and decisions (such as which surveys to use, which jobs to benchmark, which aging factors to use, etc.). If I’ve failed to include something, or I’ve erred in my analysis, please let me know. Editor's Note: Today's post comes to us courtesy of guest contributor Joe Thompson.

Talent Analytics: Lessons Learned from Fantasy Football

Oracle HCM - Modern HR in the Cloud

This scarcity demands a deeper level of insight into workforce management to keep high-performing teams in the game. Phase 3 adds advanced functionality through analysis of multiple internal and external sources to not only understand the what and why of events, but to answer the question “what might happen?” Written by: April Mazon. Maybe you play fantasy football or know someone who does.

What is performance management?

Digital HR Tech

or implicitly (“I need to make a planning with Jane because she keeps prioritizing less important tasks”). When done well, performance management is an essential tool that helps employees to realize their full potential, while helping management and HR to get the most out of the workforce. Individuals who excelled were promoted quicker, clear benchmarks for individual performance were set, and suboptimal performance would result in either a demotion or an exit.