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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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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.

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plans on unreliable sources and methods such as using country retirement age instead of actual retirement age data, outdated benchmarks, and financial headcount budgets with no historical trends or link to business strategy, and sadly, gut feel. How are larger-scale cultural changes impacting your workforce?

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.

Impress Your CEO With These Strategic Business Impact Recruiting Metrics

Visier

It’s also important to understand that you can’t impress a CEO with a large volume of tactical recruiting metrics. Instead, you must focus on metrics that demonstrate a direct impact on what CEO’s really care about, the firm’s strategic goals. When you shift to this “WOW the CEO” metric model, you need to begin using business impacts as the key selection criteria for determining which metrics to report to senior executives. Workforce planning.

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.

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.

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

Visier

“Build vs. Rent” is a common dichotomy in technology buying, but what does it mean when applied to people analytics? The race to adopt people analytics is heating up: according to the Bersin by Deloitte HR Technology Disruptions for 2018 report , “people analytics is now a must-have discipline within HR and business.”. But, as more and more HR organizations grow their analytics function, I’ve noticed that not all journeys are the same.

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

Impress Your CEO With These Strategic Business Impact Recruiting Metrics

Visier

It’s also important to understand that you can’t impress a CEO with a large volume of tactical recruiting metrics. Instead, you must focus on metrics that demonstrate a direct impact on what CEO’s really care about, the firm’s strategic goals. When you shift to this “WOW the CEO” metric model, you need to begin using business impacts as the key selection criteria for determining which metrics to report to senior executives. Workforce planning.

6 Areas Where People Analytics Can Help HR Get Ahead

Career Metis

According to one recent report , 90% of businesses now say that data and analytics are key to their organization’s digital transformation initiatives. Furthermore, 73% say that people analytics will be a major priority for their company over the next five years.

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.

Identify Your HR Needs To Determine The Appropriate Analytics Solution

Analytics in HR

Last year, analyst Josh Bersin noted in a Forbes article that his studies have shown 69% of companies are embarking on a people analytics strategy. However, many human resource (HR) leaders constantly intermingle people analytics with workforce analytics and talent analytics. The Evolution Of Workforce Planning And Talent Management Solutions. Workforce planning had its genesis from the simple practice of building organizational charts.

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?” Definitions for core metrics are created.

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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.

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.

6 Key Talent Acquisition Cost Reduction Metrics

Cielo HR Leader

There are six talent acquisition metrics that all organizations must track to identify where costs can be reduced and where improvements can be made to protect revenue, improve efficiency and increase quality of hire. This metric should be tracked by job category, recruiter and hiring manager. By tracking and reporting hiring manager satisfaction on a quarterly basis, it is possible to regularly reference performance against the benchmark and maximize lessons learned from the data.

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.

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. Our metrics should be designed in three different levels: job, team, and business unit. People Analytic

Amazon Coming to Town? Mitigate Talent Shortfalls with People Analytics

HR Daily Advisor

With Amazon planning to hire upwards of 50,000 employees, this fear should be taken seriously. 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. By using an analytics platform, the team crafted a strategy targeting the branches with the highest turnover for this role. When it comes to mitigating talent shortfalls, workforce planning is key.

3 Ways Professional Services Firms Can Prosper

Workday

With the release of Service Performance Insight’s “2017 Professional Services Maturity Benchmark,” it’s clear the professional services industry continues to face challenges. Both revenue and headcount growth continue to decline while workforce attrition is increasing. Per the benchmark study, careful investments in workforce planning, employee engagement, and talent-driven innovation are distinguishing top performing professional service organizations.

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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5 HR Analyst Job Descriptions – A Brief Analysis

Analytics in HR

Most job focus on administrative tasks and basic reporting, very much in line with what van de Heuvel and Bondarouk noticed in 2016: HR analytics is focusing on very basic tasks. Your responsibilities will include: Develop standard and ad hoc reports, templates, dashboards, scorecards, and metrics. May assist the HR Connect manager to review service quality, operational metrics, and service levels and recommend changes. Pepsico: HR Analytics / Data Scientist Junior Analyst.

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.

Human Resources Needs a Common Language for Managing Business Data

Oracle HCM - Modern HR in the Cloud

True, everyone in HR shares some common metrics, such as head count and time-to-fill. These companies are developing universal standards for labor benchmarks. Workforce Planning HR and finance still struggle to see eye to eye in the domain of workforce planning. We see this in various research studies that show labor planning and execution as a top concern of today’s CEOs. Head count is one of the broadly agreed-upon metrics in HR!

New Data on Women Breaking the Glass Ceiling

Visier - Talent Acquisition

A key way to achieve this is through the use of people data and analytics, which have been proven to improve female leadership representation at organizations. Get context by comparing your representation to benchmarks.

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

HRExecutive

The Hackett Group research advises that, by following a smart-automation strategy , typical HR functions can boost efficiency levels close to those seen by world-class HR organizations (defined as those that achieve top-quartile performance in both efficiency and effectiveness across an array of weighted metrics in the Hackett Group’s comprehensive HR benchmark). He says a holistic transformation plan describing how to engage and partner with the business is key.

How Does Turnover Impact Your Organization’s Bottom Line?

Visier - Talent Acquisition

There are certainly some benefits to knowing your attrition rates over time: you can benchmark your current success against past years, and loosely measure the success of your retention strategies. Looking for more information on how to drive retention strategies with people analytics?

Global Payroll Q & A with George Delaney, CFO Immedis

Immedis

As CFO, what are your payroll/workforce planning pain points? I’m doing a lot of work around workforce capacity and utilization and the length of time it takes to go from first deciding to hire, to recruiting, onboarding, and getting new employees productive as efficiently as possible.

3 Trends That Will Shape HR in 2018

HR Daily Advisor

Not only are Millennials the largest and most racially diverse generation, according to a 2016 Pew Research study, they are also the largest demographic group in the workforce today. With the advancement of HR analytics, difficulty of measurement will no longer be an acceptable excuse for evaluating the impact of HR. Just as every other aspect of the corporation is managed by metrics, HR will commit to data-driven insights.

Your Guide to AI Talent Acquisition

AllyO

Long-range workforce planning and finding specialists, top executives, and strategically important talent are critical pieces of talent acquisition. . Machine learning underpins data analytics that drives better decision-making and stronger talent acquisition. Workforce Planning and Strategy. Based on this information, develop a strategic plan to meet those demands. What impact will demographic trends have on our workforce? Analytics.

Workday Positioned as a Leader in Gartner Magic Quadrant for Cloud HCM Suites for Midmarket and Large Enterprises

Workday

Customers who get the most out of Workday take full advantage of the rich reporting and analytics that can only come from having a single source of truth for your people data. To truly understand where you stand against similar organizations, Workday Benchmarking allows customers to opt-in to contribute data about their workforces and, in return, see how you compare against industry peers, including metrics such as attrition, diversity, and leadership effectiveness.

What can Human Capital Management (HCM) do for your business and why you need it

TalenX

Human Capital Management (HCM) refers to an organization’s comprehensive plan and a set of practices for recruiting, managing, developing and optimizing employees to maximize their values towards an organization. Below are three questions that you must ask yourself when it comes to structuring your human resource (HR) planning. It is a thoughtful process that requires plenty of consideration and planning. Problem 2: Non-strategic workforce planning.