Managing Costs through Workforce Planning

hrQ

Whether caused by the economy, industry dynamics, or company actions, it is something that almost all organizations face at some point. With the evolution of workforce planning, this is both unnecessary and unwise. Cost-cutting is a reality of organization life.

Why Agile Workforce Planning is Key for Organizational Success

Visier

This is supported by a critical element that is often overlooked: agile workforce planning. In short, to have a responsive workforce, the process that supports this (workforce planning) needs to be adaptable itself. Plan for an aggressive recruitment strategy?

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Prepare for Nurse Retirements and Shortage with Intelligent Workforce Planning

Visier

According to a survey by the National Council of State Board of Nursing and the Forum of State Nursing Workforce Centers, 55% of registered nurses (RN) are age 50 or older. Navigating Nurse Retirement with the New Workforce Planning.

Workforce Planning Collaboration: The Talent Acquisition and HR Partnership

Visier

Whether an HR team is working on compensation and benefits, career development, or performance management, it needs to take into account input from all stakeholders involved, including employees, their managers, and Finance, among others. Monitor hiring and movement against plan.

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 minimizes the likelihood that employees, teams, and organizations will have their needs unmet.

3 Real-Life Lessons About Workforce Planning

Pingboard

Today’s employees, especially millennials, are willing to change jobs in favor of new ones that meet their career-development, compensation, and other aspirations. And according to Gallup , at any given point in time, 60 percent of millennials are open to making a move to a different job.

Driving Innovative Business Models through Workforce Planning

hrQ

Workforce planning is one of the most critical competencies for an HR organization. Workforce planning can help a business answer questions ranging from how many people it needs, where they should be located, what jobs they should do, how much they should be paid, and even whether they should be working for your company. It can help determine the right investments in recruiting, compensation, training, and a host of other things.

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?

The 5 Steps of Analytics-Driven Workforce Planning

Analytics in HR

Businesses need to make sure they have the right people in the right jobs at the right time. To determine how to align and sustain these three objectives, HR uses some form of workforce planning. Here are five key steps to use analytics to inform your workforce plans: 1.

How Healthcare Employers Can Invest in Strategic Workforce Planning

Precheck

How Healthcare Employers Can Invest in Strategic Workforce Planning Apr. Healthcare organizations are facing a workforce crunch. What everybody focuses on is the shortage of nurses,” says Ron Washburn, Senior Vice President at Soliant Health.

Compensation Singularities

Compensation Cafe

Have you heard of the Compensation Singularity Rule? It turns out the client had applied the Compensation Singularity Rule. As wizened compensation professionals I’m sure that you’ve realized that I am being tongue-in-cheek; you have all likely faced this phenomenon in the past.

#ECTalent: Future Proofing the Business (Strategic Workforce Planning)

Strategic HCM

The session earlier this morning from Hugh Mitchell at Shell focused on the need to think long-term about talent, and this focus was continued into the next panel. You can see my suggested process for workforce planning here ). Events Talent management Workforce planning

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this post, Allison talks about Compensation. Compensation is one of the key culture-definers for organizations. Strategically using workforce analytics to optimize salaries and rewards can help HR positively impact the bottom line while also providing employees with fair wages. .

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this post, Allison McConville, Visier’s VP of Human Resources , will shares how you can use data to support the people moments that matter, enabling the best compensation decisions for both your employees and your organization. . Managing Compensation Costs.

Innovative HR and Why Technology Innovators Can’t Survive Without It

Visier

While the race to out-innovate with new ideas and products fuels the technology industry at large, the competition between companies is fought most pervasively as on the talent front lines. Develop The Right Mix of Workforce Diversity. Advance Your Workforce Planning.

Think You Know Your Total Cost of Workforce? Think Again.

Visier

Do you have a detailed and accurate understanding of your total cost of workforce (TCOW)? TCOW is essential to building an efficient workforce plan and staying competitive. Are there variable compensation costs such as bonuses that you could consider? Workforce Planning

Workforce Planners: 4 Steps to Improving Profit Margins for Services

Visier

To further complicate things, when dealing with a multi-year project, the workforce will likely become more expensive within the contract’s lifetime. For professional services firms, keeping a close eye on rising workforce costs is crucial. The Power of Precision in Scenario Planning.

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How Improving HR’s Analytics Capability Prevents Chaos Over New Overtime Rule

Visier

Even more importantly, HR leaders are being asked — by their C-suite and Board — to determine if they can avoid the additional millions of dollars in overtime costs their organizations are now at risk of incurring, without negatively impacting business objectives.

The Immutable Laws of Compensation (Part 2)

Compensation Cafe

The Third Immutable Law of Compensation: Compensation is always done for, and by, people. Second Corollary: Compensation strategies, decisions, and execution will always contain errors or assumptions that cause them to go awry. (See See Dan’s Third Law of Compensation Motion.).

Compensation’s Role In Acquisitions

Compensation Cafe

Much has been written about acquisitions and Compensation’s involvement in them. Regardless of whether the target company will be an autonomous operation or fully integrated into the parent company, Compensation in the acquiring company has work to do.

Life Cycles and Compensation

Compensation Cafe

Compensation programs need to adapt to these different stages as companies grow and evolve. For example, compensation plans needed for start-ups are very different compared to those needed for mature companies. Let’s see how the various stages impact compensation. . Compensation : Salaries are limited as companies are not flush with cash. There is no formal compensation program. Compensation : There a rapid growth in the number of employees.

Innovative HR and Why Technology Innovators Can’t Survive Without It

Visier

While the race to out-innovate with new ideas and products fuels the technology industry at large, the competition between companies is fought most pervasively as on the talent front lines. Develop The Right Mix of Workforce Diversity. Advance Your Workforce Planning.

The Immutable Laws of Compensation (Part 1)

Compensation Cafe

I was happy to see the repost Dan Walter’s article of the Newtonian Laws of Compensation Motion since I had been ruminating on the laws of compensation. . But here I want to discuss a few lesser-known, though equally fundamental laws: I’ll call them the Immutable Laws of Compensation.

How ConAgra Foods Drove HR Transformation With Analytics-Driven Planning

Visier

When a company acquires another business, bringing the two workforces together is the single most challenging undertaking of the entire project. This is a lesson I learned during my tenure as a senior executive at Business Objects and Symantec, where I led several strategic acquisitions.

The Pros and Cons of Six Different Competency Models

AvilarHR

This method consists of convening groups of experts who know a job role particularly well and who excel at it. Through objective questioning and facilitation, discussions can yield insights into the competencies that are at the heart of success for a particular role.

Are Your Sales Compensation Plans Just Experiments?

Compensation Cafe

If the commission plan is well designed and a salesperson hits it out of the ballpark, what's the problem? It looked at the compensation plan of a large U.S. This company capped commissions at quota. How many will exceed quota and earn commission at the ramp rate?

Boo! Four Scary Employee Engagement Situations to Avoid With Better Survey Data Analysis

Visier

Getting a great employee engagement score, but discovering that 15% of your workforce spends half their day on non work-related tasks. But simply surveying your workforce for sentiment data once a year and getting a sleek report won’t give you the insights you need to avoid serious snafus.

Why We Will All Love the New HR

Visier

But in a world where workforce costs dominate total operating expenses — averaging nearly 70% of costs — businesses can no longer afford to have HR take a backseat or keep to the status quo. . Failed to Plan? The New Workforce Planning — And The New HR.

How Workforce Analytics Helps Prevent Another Bad Hire

Visier

However, the opposite proved to be true: when the organization started using Visier’s workforce intelligence solution , the analytics revealed that the so-called “high scoring” candidates (who were hired!) Without workforce analytics, it’s difficult to identify what makes a strong hire.

A Strong Merit Promotion Process Builds a Strong Federal Workforce

Acendre

The federal workforce’s key role is to provide quality service to the public. Performance compensation creates an environment that may put employees at odds with each other and lead to unwanted behavior that affects productivity.

HR: Stewards of Compensation?

HRExecutive

Forbes contributor Robin Ferracone just posted this morning an interesting Q&A she conducted last month with Jerry McGrath, DHR International’s global HR practices leader, on the topic of HR’s role in determining executive compensation. If we don’t work closely together, surprises inevitably arise, and no one likes surprises – at least in this context. Shareholder Engagement: Engage with shareholders and proxy advisors, but at the right time.

The Win-Win of Leveraging Baby Boomers

China Gorman

Just as I wrestle with these questions, organizations are facing stiff headwinds on the talent pipeline front making workers like me critical components in workforce planning activities. Provide Support for Retirement 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. Most organizations today are at the Reactive level.

What do Dead Horses Have to do With Compensation?

Compensation Cafe

For each business example, I''ve created one for how it might look in Compensation: 1) This dead horse is too big to fail. Compensation: A large, very expensive __ compensation study (fill in the blank) has taken six months so far with a lot of money spent and no end in sight.

Boo! Four Scary Employee Engagement Situations to Avoid With Better Survey Data Analysis

Visier

Getting a great employee engagement score, but discovering that 15% of your workforce spends half their day on non work-related tasks. But simply surveying your workforce for sentiment data once a year and getting a sleek report won’t give you the insights you need to avoid serious snafus.