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Attract and retain talent with Bob’s Compensation Benchmarking powered by Mercer

Bob

There are many challenges facing today’s workplace regarding recruitment and retention. Prospective employees demand higher salaries, better perks, and more flexibility, and many companies are adjusting their compensation packages to attract the best talent.

15 HR Analytics Case Studies with Business Impact

Analytics in HR

It is time that HR analytics starts to show the value it delivers to the business. This is hard to do as people analytics is still an emerging field. For this article, I have collected 15 of the best HR analytics case studies I’ve come across in the past two years. Quite a few case studies have come from the excellent Strategic Workforce Analytics report by Corporate Research Forum. 15 HR Analytics Case Studies. Turnover at Experian. Employee retention.

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What Is Workforce Analytics? Explain Its Importance.

Analytics Training

What Is Workforce Analytics? . Analytics for workforce management helps HR teams optimize organizations’ human resources by tracking and measuring data related to employees. In addition to evaluating existing staff, workforce analytics can also analyze overall employment trends.

Compensation Planning in 7 Actionable Steps

Analytics in HR

Thorough compensation planning allows your organization to create compensation systems that reward employees fairly and support business goals. What exactly is compensation planning, what are its objectives, and how do you go about compensation planning in practice?

What is Voluntary Turnover? Definition, Causes, and Calculation

Analytics in HR

Voluntary turnover is a normal occurrence, as employees seek new opportunities or leave because they are unsatisfied with the current role for a multitude of reasons. Employees leave organizations for different reasons, which creates different types of employee turnover.

Headcount Planning: An HR Practitioner’s Guide

AIHR

Headcount planning involves setting hiring targets, creating reskilling and upskilling plans for current employees, decreasing employee turnover, and analyzing worksite occupancy and company-specific objectives and strategies. Articles HR Analytics and Data-Driven HR data-driven HR

The Analytics of Human Resources

HSD Metrics

Analytics have always had a place in operations such as marketing and sales, but its use in human resources is not as common. Retention is a term used a lot when it comes to HR, but do you really strategize for it? The post The Analytics of Human Resources appeared first on HSD Metrics.

HR Benchmarking: All You Need to Know to Get Started

Analytics in HR

Benchmarking is a practice used across industries to make comparisons between and within organizations. HR benchmarking helps make HR processes and policies at your organization more effective. Truly valuable benchmarking looks at the nuances of your organization and geography.

Curbing Employee Turnover Contagion in the Workplace

Visier

Turnover Contagion: Tracing the Source. It’s also a lesson for HR leaders looking to treat a viral event of a different sort: turnover contagion. Turnover contagion happens when people quit their jobs simply because other people are talking about leaving, job searching, or actually jumping ship. In other words, voluntary turnover doesn’t just happen in isolation due to an individual’s job satisfaction issues. The Value of a Laser-Focused Approach to Turnover Contagion.

What is People Analytics: Examples, HR Metrics & Analytics

SurveySparrow

She highlighted that instead of the great resignation, the discussion should be about the great appraisal and re-appraisal that can happen because of people analytics. From discussing the need for people analytics, in 2022 and beyond to the need for data here, she discussed it all.

Want real HR change? Look to data and analytics

HRExecutive

Advertisement Seventy-five percent of companies are using technology solutions for managing employee relations—an 11% increase from 2019—allowing them to create employee data repositories and gain better analytics capabilities.

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?

Industries with the Highest (and Lowest) Turnover Rates

Linkedin Talent Blog

Seeing a spike in your company's turnover is liable to cause a spike in your blood pressure. Once you have the data to anticipate turnover, you can act to retain key employees and recruit new ones ahead of time. Meanwhile, enterprises boast a lower turnover rate of 9.9%.

Industries with the Highest (and Lowest) Turnover Rates

Linkedin Talent Blog

Seeing a spike in your company's turnover is liable to cause a spike in your blood pressure. Once you have the data to anticipate turnover, you can act to retain key employees and recruit new ones ahead of time. Meanwhile, enterprises boast a lower turnover rate of 9.9%.

Measuring HR: Bringing People Analytics to Human Resources

Zenefits

Data analytics has the potential to turn information held into actionable processes and outcomes. Data analytics has the potential to turn information into actionable processes and outcomes. More than screening for skills and experience, data analytics has the ability to spot key experiential information that may someday be widely used to predict a candidate’s potential for success. Retention. When a business invests in current staff, retention and engagement increase.

Why companies should invest in People Analytics

Engagedly

People Analytics can be a fortune-maker for businesses! People Analytics has become an indispensable strategy that allows companies to make better management and business decisions. Here are six reasons your organization should consider investing in people analytics.

Why Professional Employer Organizations Win with People Analytics

Visier - Talent Acquisition

PEOs know their customers have questions about turnover, compensation, and how to retain their people. That’s where the power of people analytics comes in. Bring the power of people analytics to your service offering. Visier Embedded Analytics for PEOs.

Why Professional Employer Organizations Win with People Analytics

Visier - Talent Acquisition

PEOs know their customers have questions about turnover, compensation, and how to retain their people. That’s where the power of people analytics comes in. Bring the power of people analytics to your service offering. Visier Embedded Analytics for PEOs.

9 Employee Wellbeing Metrics to Track Right Now

AIHR

Gallup, an American analytics and advisory company, determined that employee wellbeing comprises five elements : Career wellbeing: Liking what you do. Employee retention metrics are also crucial in this area, and these metrics often intersect with wellbeing metrics. Employee turnover.

The People Analytics Best Practices to Add to Your Talent Management Strategy

Visier - Talent Acquisition

From May to July 2021 Visier surveyed its customers to gauge how well they’d advanced their people analytics practice and see what guidance they could provide to organizations newer to people analytics. Using people analytics has a big payoff (especially for diversity and inclusion).

Amazon Coming to Town? Mitigate Talent Shortfalls with People Analytics

HR Daily Advisor

By using data and analytics, companies can create a tailored and realistic action plan aimed at retaining their employees. The people analytics team at BBVA Compass , a U.S. banking franchise, discovered that turnover was highest for one particular revenue-producing role. By using an analytics platform, the team crafted a strategy targeting the branches with the highest turnover for this role. Strategic HR data employees turnover workforce

Here’s How IBM Predicts 95% of Its Turnover Using Data

Linkedin Talent Blog

With the cost of replacing an employee sitting anywhere between 30 and 400% of that person’s annual salary, there’s obviously a strong financial case for investing in retention — not to mention the benefits of preserving institutional knowledge and protecting morale. By focusing specifically on high performers with in-demand skills, IBM says it has saved $300 million in retention costs. Employee Retention Talent Analytics Artificial Intelligence

The Secret To Selecting and Measuring Key Employee Performance Metrics

EmployeeConnect

In the past, companies usually measured employee engagement by analysing turnover rates. Unfortunately, that strategy relies on 20/20 hindsight instead of identifying practical ways to reduce turnover proactively. Rules for Determining Key Performance Metrics The most effective performance metrics include both strategy-based and goal-based benchmarks. Learning metrics: This performance benchmark analyses how quickly and efficiently a company’s employees learn new skills.

How to Measure Quality of Hire to Drive Business Results

Analytics in HR

Retention rate: percent of employees retained over a defined period. Turnover rate: the ratio of separations against the total workforce. You want to have enough candidates to compare to make the right choice unless you hire for that position frequently enough to have a good benchmark.

Stages Of The Employee Life Cycle: An Easy Overview (2021)

Analytics Training

Attraction: A good organization always wants to break the benchmark and provide quality products/services to users. Rewards or compensation might be in the form of pay-hike, perks, recognition, learning opportunity, or others. Employee turnover is one of the key areas to be delved into.

Top 10 People Analytics Difference Makers to Look For

Visier - Talent Acquisition

It’s the place to be for the latest and greatest in HR technology trends–especially analytics. . With that in mind, here’s my top 10 list of what makes Visier unique for people analytics: 1. Visier provides curated analytical content and defined workflows which are designed from your most important people strategy questions. As the leader in people analytics, Visier has over 8 million employee records from working with hundreds of organizations across a variety of industries.

4 ways tech can help you retain women

HRExecutive

Workforce analytics Lexy Martin , head of research at workforce analytics company Visier, agrees that any DEI improvement project must be data-driven. People analytics, she says, can highlight unconscious bias embedded in employee lifecycle processes.

7 Tips for Building an Employee-Centric Culture

AIHR

Employee-centric culture benefits organizations in many ways, from improved productivity and retention to serving their customers better. Reduced employee turnover. They have needs and wants that must be met, like the need to be heard, compensated well, and grow professionally.

How to Create a DEI Dashboard for Your Organization in 7 Steps

AIHR

For example, a DEI dashboard can show you the status of your workforce in areas including: gender, age, race and ethnicity, salary data, retention rates, neurodiversity, and more. Do we have equitable compensation practices?

9 Recruitment KPIs to Measure Success in Your Organization

Analytics in HR

First-year turnover rate 9. Recruiting KPIs can reveal valuable insights, including cost per hire, offer acceptance rate, first-year turnover rate, and more. It also enables you to reduce costs where possible, and work on employee retention initiatives if needed.

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. This is where workforce analytics comes in.

Visier 318

What Are the Benefits of Bringing Data Analytics to Payroll?

Zenefits

Without a compensation management tool, determining the answer to that question can be difficult. In any case, if you manage people, you want to pay them fairly, and that means that you need to employ good compensation management practices. One of the best places to start is with salary benchmarking. What Are Salary Benchmarking and Compensation Management? Compensation management is an important component of employee retention.

Data Literacy: An Essential Skill for HR Professionals

Analytics in HR

We refer to this dimension as analytics translation. They benchmarked their employee turnover to other banks, discovering that they had an above-average turnover in some key roles. First, the team explored the turnover data by region, branch, and demographic indicators.

5 workforce planning tools and how to use them

Business Management Daily

Factors that HR professionals and others performing HR analytics look at as they attempt to build the “right workforce” for given business needs include: Headcount. Attrition and retention. Amount of voluntary turnover. Compensation and benefits analysis.

When Job Title Data are Standardized, Everyone Wins

Visier - Talent Acquisition

It makes doing analysis on issues like employee turnover and pay inequity difficult, leading to a murky view of a company’s workforce. Data standardization is critical if people analytics is to be undertaken in an accurate, impactful way. People change jobs all the time.

How HR Can Tackle Diversity Using the Rooney Rule

Visier

Consequences of this can range from reduced competitiveness and productivity to increased employee turnover to higher compensation costs. Metrics to watch: New hires vs. existing workforce / New hires vs. industry benchmark. Alternatively, if your hiring process is doing well and landing a diverse set of new employees, but you see no change in overall organizational diversity, then you need to review the retention of your diverse employees – not just the hiring part.

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. This is where workforce analytics comes in. .

Visier 150

How HR Can Tackle Diversity Using the Rooney Rule

Visier - Talent Acquisition

Consequences of this can range from reduced competitiveness and productivity to increased employee turnover to higher compensation costs. Metrics to watch: New hires vs. existing workforce / New hires vs. industry benchmark.

Looking Forward

HRO Today

Aura Jenkins, chief D&I officer at Randstad US , says her organization looks at three metrics in particular: recruitment diversity slates; retention numbers, including regrettable attrition and employee development; and. Does the company experience low turnover?

Strength in Numbers

HRO Today

We undertook a thorough review of each of the legacy company’s policies and benchmarked industry standards as well. How are you leveraging HR analytics to gain insight into your talent? Analytics really help guide the work we do in HR and there’s no question that analytics are a key enabler of our overall talent strategy. We have an HR analytics team that is really passionate about data.