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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.

The 5 Steps of Analytics-Driven Workforce Planning

Analytics in HR

To determine how to align and sustain these three objectives, HR uses some form of workforce planning. Unfortunately, many companies still base their talent plans on unreliable sources and methods such as using country retirement age instead of actual retirement age data, outdated benchmarks, and financial headcount budgets with no historical trends or link to business strategy, and sadly, gut feel. For example: Do you know how customer demographics are changing?

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11 HR Analytics Courses Online

Analytics in HR

This article lists the eleven best HR analytics courses in the world today. Getting started with HR analytics – also called People Analytics – is a big step for a lot of people and organizations. An HR analytics course that answers these questions can be invaluable. Courses range from top-level analytics knowledge, to actually doing analytics, basic statistical knowledge, HR data and metrics, and more. 2: People analytics – University of Pennsylvania.

18 Benefits of HR Analytics For Your Business [With Examples]

Analytics in HR

HR analytics helps HR professionals make data-based decisions that play a pivotal role in an organization’s success. Over 70% of executives consider people analytics a main priority in their organization. The HR analytics market is set to grow by 90% to $3.6

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?

The Role Of HR Analytics In Workforce Planning

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.

The Future of Workforce Planning

HR Daily Advisor

One of the best investments organizations can make toward the satisfaction of their employees is in workforce planning technology and process improvements. Workforce planning examines the entire employee lifecycle and determines how to best recruit, grow, deploy, optimize, and retain employees. Workforce planning minimizes the likelihood that employees, teams, and organizations will have their needs unmet.

5 Essential Workforce Planning Tools for any HR professional

Analytics in HR

Workforce planning tools are an essential part of the HR professional’s toolkit. In this article we’ll go over 5 strategic workforce planning tools, explain their use and give examples and excel templates on how to use them. What are workforce planning tools? Workforce planning tools are instruments that help analyze current capabilities and future needs for the employee population. Strategic workforce planning map.

Workforce Analysis: HR’s Introduction and Guide

Analytics in HR

Understanding your organization’s strengths, weaknesses, and future needs in terms of its workforce is essential to making effective staffing decisions. Conducting a workforce analysis helps you do just that. Contents What is workforce analysis? What is workforce analysis?

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.

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. But what exactly is HR data analytics and how can HR leverage it to achieve organizational goals? HR Data Analytics Definition. HR analytics may be referred to as people analytics, workforce analytics, or talent analytics depending on the context of the data.

Key takeaways from People Analytics World, London 2018 – Part 1

Littal Shemer

Key takeaways from People Analytics World, London 2018 – Part 1. People Analytics World is a leading European annual conference on HR Analytics, Workforce Planning and Employee Insight, in which I was privileged to attend on April 2018. Fortunately, the conference organizers offered interactive tools that helped me to plan my agenda in advance. Move from report about the past to real time and to predictive analytics. People Analytics

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

Visier - Talent Acquisition

Dave Wallis , Director of Analytics and Information Strategy at Insperity , is a long-time data management and BI professional, who’s currently focused on developing Insperity’s people analytics offering (in partnership with Visier). Workforce Planning

People Analytics Evolves for the Future Labor Market

Visier - Talent Acquisition

These aren’t new questions in the field of people analytics. We are in the fortunate position of working with many of the leaders in the people analytics space and these individuals are distinguished by their vision and their willingness to collaborate.

Experts Share 4 Tips for People Analytics Success

Visier - Talent Acquisition

Outsmart, the leading people analytics and workforce planning conference, takes place online on May 5-6, 2021. Embarking on a people analytics journey without the right kind of support can be slow and risky. 4 tips for people analytics success.

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. Many that have graduated from metrics to analytics use it very simplistically, often to respond to one-off data requests such as “how many employees were hired last month?” Annual headcount planning occurs in spreadsheets.

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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. According to Steve Allan, head of analytics at Silicon Valley Bank, “Analytics used to be a competitive advantage, but now it’s becoming table stakes.” ( MIT Sloan Management Review , 2016). Despite the advent of this culture of analytics, companies across industries continue to rack up massive and costly workforce failures.

Be careful! These books can change your career: People Analytics and HR-Tech reading list

Littal Shemer

These books can change your career: People Analytics and HR-Tech reading list. This list of People Analytics books is not exceptional. So here is my People Analytics reading list on Kindle, ordered chronologically, from newest to oldest. People Analytics & Text Mining with R. This book teaches you R (open-source programming language), People Analytics, Text Mining and Sentiment Analysis. Data-Driven HR: How to Use Analytics and Metrics to Drive Performance.

Get Onboard the HR Analytics Movement

Brandon Hall

So, managing that cost analytically makes good sense. In fact, 41% of organizations told Brandon Hall Group that the second biggest driver of human capital management (HCM) technology acquisition was to enable better reporting and analytics of HR data. But when asked how they are executing on the analytics priority, 56% of organizations admitted they do not yet have workforce planning and analytics in place, or if they do, they manage it manually via spreadsheets.

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

Visier

“Build vs. Rent” is a common dichotomy in technology buying, but what does it mean when applied to workforce intelligence? The race to adopt workforce intelligence is heating up: according to the Deloitte Human Capital Trends 2016 report , “companies are no longer ‘stuck in neutral’ in their deployment of people analytics… Indeed, analytics capabilities will be a fundamental requirement for the effective HR business partner.”.

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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.

Five Powerful Ways Your HR Team Can Leverage Big Data

SuccessFactors

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. Big Data also has an affect on existing staff; for example, by learning what increases and decreases productivity, work processes can be adjusted. Planning. Survey analysis can also help HR: plan new, more effective talent-retention programs.

Strategies for Getting the Most Out of Your Payroll Data

Visier - Talent Acquisition

So, by making payroll data part of the business, HR can run a variety of analyses—on salary competitiveness , structural costs controls, voluntary and forced rotation, absenteeism, to name a few—to improve workforce efficiency in terms of productivity and performance. Workforce Planning

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.

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. For example, Apple produces an average annual revenue per employee of $1.9 Workforce planning. The Benchmark Firm to Follow Is Google.

Relive the People Analytics Event of the Year: Highlights from Outsmart 2020

Visier - Talent Acquisition

This first-ever digital global summit brought over 1000 HR leaders from around the world together to discuss all things people analytics and workforce planning. Panel: Putting People Analytics Power in the Hands of your Business Users.

AIHR Live – Episode 4 with Tako Zoutman

Analytics in HR

Erik : Can you give an example of that happening in daily life? Tako : It’s an interesting example. It’s very attractive, but if you talk about, for example, a time application which a lot of organizations like. For example, if workforce planning is done in an Excel sheet, how do you want to introduce a digital way of doing time registration? Erik : Just talk about analytics. HR Analytics

Employee Attrition: All You Need to Know

Digital HR Tech

This can be through a position elimination, for example, due to reorganization or layoffs, for cause (such as stealing or fighting), poor performance, or termination when someone abandons their job. For example, restaurants and retail often have high turnover rates, even if the business grows.

Workforce Management of the Future

Abel HR

Developing your workforce is an endless endeavor for almost all businesses. Looking at the latest workforce management trends, you’ll know that changes are indeed in order. The New Challenges for Workforce Management.

HR Software: What is the difference between HRIS, HCM, and HRMS

EmployeeConnect

It will also feature basic HR analytics and reporting. Common HCM functions include: Full employee lifecycle and planning. Succession Planning. Workforce planning. Another example is using the position table to define a skill gap and suggest driving training.

Why Being Data-Driven Isn’t Enough

Visier - Talent Acquisition

Over the last two decades, we’ve seen almost all corporate functions infuse analytics into their businesses. Today, organizations have to redefine what it means to be “data-driven” as technology and analytics capability continue to change and aggressively mature. “Today, organizations have to redefine what it means to be “data-driven” as technology and analytics capability continue to change and aggressively mature. Implement a people analytics solution.

HR Software: What is the difference between HRIS, HCM, and HRMS

EmployeeConnect

It will also feature basic HR analytics and reporting. Common HCM functions include: Full employee lifecycle and planning. Succession Planning. Workforce planning. Another example is using the position table to define a skill gap and suggest driving training.

Reorganizing for the future: Eight federal workforce perspectives

HR Times

The guidance issued by the Office of Management and Budget (OMB) on April 12 provides additional direction to agencies, specifically around six factors to address in their plans, to include workforce reductions and cost savings. Each agency is required to submit an initial plan to OMB by June 30 with a final plan due on September 30. Federal workforce programs are many times viewed as an “easier means” to cut costs.

Ask Visier: How Do You Find Out Which Employee Groups Will Drive Replacement Hiring Needs?

Visier - Talent Acquisition

Ask Visier is a weekly column where a people analytics expert dives into one of the 2000+ business questions available in Visier—and shares how to take action on the answers you might uncover on that topic. She brings over 10 years of applied analytics and has extensive consulting experience.

Ask Visier: How Do You Find Out Which Employee Groups Will Drive Replacement Hiring Needs?

Visier - Talent Acquisition

Ask Visier is a weekly column where a people analytics expert dives into one of the 2000+ business questions available in Visier—and shares how to take action on the answers you might uncover on that topic. She brings over 10 years of applied analytics and has extensive consulting experience.

What HR Transformations are on the Horizon?

HRExecutive

The Hackett Group’s benchmarks show the typical HR organization currently devotes half of its staff and budgets to administration and transaction processing.) This will allow HR to dramatically redeploy staff—far fewer will work in areas such as GBS/shared services, and more will take on high-impact activities, such as talent strategy, HR-program innovation, organizational change, analytics and acting as trusted advisers to senior leaders.

Reorganizing for the future: Eight federal workforce perspectives

HR Times

The guidance issued by the Office of Management and Budget (OMB) on April 12 provides additional direction to agencies, specifically around six factors to address in their plans, to include workforce reductions and cost savings. Each agency is required to submit an initial plan to OMB by June 30 with a final plan due on September 30. Federal workforce programs are many times viewed as an “easier means” to cut costs.

Have Your Cake and Eat it, Too: How Visier Combines Fast Time to Value with Openness and Extensibility

Visier - Talent Acquisition

Visier is a people analytics solution that’s both highly capable in its own right, and engineered to fit nicely within your data and application ecosystem. Visier then processes this data in a way that’s uniquely required to understand the movement and progression of people in a workforce.

BPI Announces Vemo CEO Peter Louch Best Practice Award Winner!

Vemo

The 2016 winner: Best Practices CEO Award Peter Louch, Vemo Louch is the CEO of Vemo, which offers workforce planning, workforce analytics, predictive analytic services, and implementation consultation to ensure effective and sustainable programs. Key to this work is Vemo’s technology; its state-of-the-art workforce planning software is cloud-based so clients can access, manage, and share easily.

How Digital Tech is Changing HR

HRExecutive

The Hackett Group’s benchmarks show the typical HR organization currently devotes half of its staff and budgets to administration and transaction processing.) This will allow HR to dramatically redeploy staff—far fewer will work in areas such as GBS/shared services, and more will take on high-impact activities, such as talent strategy, HR-program innovation, organizational change, analytics and acting as trusted advisers to senior leaders.