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Benchmarking: An Important Tool in the War for Talent

HR Daily Advisor

HR and business leaders see this firsthand as they fight to keep innovative, eager talent engaged and on their teams and are leveraging their people data to improve the hiring and talent retention process. Benchmarking. Benchmarking is the process of comparing your organization’s own processes and operations against those of your competitors. However, as the world of work evolves, so are benchmarking tools. Benchmarking can help with a host of concerns.

Solidifying a Competitive Advantage with Engagement Benchmarking

Ultimate Software

As our exposure to Big Data progresses exponentially, analytics and BI are playing an increasing role in overall corporate strategy. Few departments are exempt from regularly analyzing and reporting metrics to the C-suite, and long-term tracking of this data is invaluable. Benchmarking enables companies to compare organizational metrics with their peers and competitors, confirming strengths and opportunities for improvement.

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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. Otherwise, examining project team data can be of benefit.

11 Easy Ways to Reduce Employee Turnover

Bonusly

Employee turnover has a major impact on your organization's trajectory, but if you're having trouble with it, you're not alone. Even the best companies struggle with turnover. In this post, we’ll examine employee turnover: what it is, why it costs so much, and how to reduce it.

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? Pre-turnover red flags.

How to Create a Data-Driven Employee Retention Plan in 10 minutes

Visier - Talent Acquisition

Solving employee turnover and retention is hard. Voluntary resignations are high, unemployment rates are at an all-time low, and most organizations are still trying to operate HR without using data as evidence to back up their strategies. The data is there, of course.

Top 20 Employee Pulse Survey Tools

Vantage Circle

With the adoption of pulse survey tools, organizations adopted a data-driven approach by collecting, measuring, and acting on real-time employee feedback. Pulse survey tool offers an excellent way to set an industry benchmark for companies and gain insights into employee survey.

Top 20 Employee Pulse Survey Tools

Vantage Circle

With the adoption of pulse survey tools, organizations adopted a data-driven approach by collecting, measuring, and acting on real-time employee feedback. Pulse survey tool offers an excellent way to set an industry benchmark for companies and gain insights into employee survey.

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

Ultimate Software

Data is now the most valuable currency in the world. 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. From Data Reporting to Prediction: A Retention Case Study.

How Workday is Doubling Down on Data and Analytics

Workday

We’re living at a time when we’re awash in data, but short on ways to quickly turn that data into information we can act on with confidence. Much like the sailor in the classic Samuel Taylor Coleridge poem who laments, “Water, water, everywhere, nor any drop to drink,” the problem isn’t the quantity of data. We’re extending this visibility with two new products, Workday Benchmarking and Workday Prism Analytics.

How to Calculate Employee Turnover

HRsoft

Analyzing employee turnover can be painful but necessary. As you probably already know, the costs associated with turnover can be damaging for any organization. If you’re not already analyzing turnover data, you can use this quick guide to figure out how to calculate employee turnover. Or, if you’re pretty aware about the turnover rate in your company but just want make sure you’re on the right track, you can use this information as a little refresher.

How Does Turnover Impact Your Organization’s Bottom Line?

Visier - Talent Acquisition

Employee turnover is a critical challenge that almost all HR managers stress over. Turnover rate is a typical measurement that many organizations use as a scorecard for HR. Changing the question from “What is our turnover rate?” to “What is the cost of our turnover?”

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. There’s plenty of data you can gather without being obtrusive, including the metrics noted above.

Data Journalism for HR: The Beginner’s Guide

Visier

For the average person, data without a narrative is like a trip into the wilderness without a compass: overwhelming and disorienting. That’s why data journalism — a kind of factual storytelling based on data — has become a big trend. Take a look at this solid piece of data journalism posted on NYTimes.com , which invites readers to explore what may be surprising patterns relating to racial disparities in income mobility. Why HR Needs Data Journalism.

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10 Reasons To Shift To A Data-Driven High Business Impact HR Model

Visier

In order to move from this “list of challenges” to the “corporate asset list,” I have found that HR and its key functions like recruiting, retention and learning must move to dramatically increase their measurable business impacts by adopting analytics and data-driven decision-making. In order to satisfy both these needs, the next section provides the top 10 most strategic reasons for shifting to a data-driven high business impact approach.

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5 Human Resource Management Goals for Your Small Business

OmegaHR Solutions

However, thanks to the proliferation of low-cost human resources software, SMBs can adopt a professional, organized and—perhaps most importantly—data-backed approach to their HR endeavors. Reduce Turnover—and Accompanying Expenses—by Hiring the Right Candidates. But how do you define the best plan for long-term employee development and ultimately, better retention? But gathering data and analyzing results is burdensome without some sort of digital aide.

How to Avoid Talent Gaps with Data-Driven Succession Planning

Visier - Talent Acquisition

The trifecta of talent management tools for talent gap mitigation. Often organizations provide tools that allow employees to explore opportunities and develop plans, set goals and take action to proactively navigate their career. Succession planning with data. Fictional data used. Fictional data used. Fictional data used. Fictional data used. Fictional data used. Fictional data used. Fictional data used. Fictional data used.

Delivering talent to your industry: Public Sector

InforHCM

There is a wealth of information that is applicable to all industries and their hiring strategies in The Center for Digital Government’s report called “Improving Recruitment and Retention: How new science-based talent solutions can help government agencies hire, develop and retain the right employees for the right jobs.”. Data analytics heralds a new recruiting model for state and local governments. Get the full report on Improving Recruitment and Retention.

Three Ways to Get More Out of Workday in 2018

Workday

And, we want your business leaders to gain the insights they need, leveraging both your own internal and relevant external data, to make the best decisions for your organization. This free set of tools shows you what features people are using and how they’re using them. Data is the world’s new currency. With our dashboards, business leaders get real-time, easily accessible, accurate data—the information they need to review, benchmark, and plan for your business.

Unlock the Power of Employee Data

Paycor

According to Bersin by Deloitte Research, in 2016, companies experienced a massive 120 percent increase in correlating their people data to business performance. Obviously, merely mining HR data is no longer enough; your clients are expected to actually do something with it. Today’s organizations have an operational business imperative to extract insights about their workforces that are informed by data. What impact employee turnover is having on productivity.

Amazon Coming to Town? Mitigate Talent Shortfalls with People Analytics

HR Daily Advisor

A data-driven process is one smart strategy that business leaders can take to mitigate the risks—and find the opportunities—associated with Amazon’s big move. By using data and analytics, companies can create a tailored and realistic action plan aimed at retaining their employees. banking franchise, discovered that turnover was highest for one particular revenue-producing role. When crafting your retention strategy, make sure you have the answers to these five questions: 1.

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. 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. It is a process for attracting new talent, reducing turnover, and boosting performance by offering competitive salaries and non-monetary benefits. The data are incomplete.

HSD Metrics® Expands Staff With Hiring of Brittany Tony

HSD Metrics

Tony will provide expertise in all aspects of exit interview services from marketing through setup and delivery of ExitRight turnover data. For most organizations today retention is a priority, and accurate, timely data is the first step to decreasing turnover.”.

Survey Says…

HRO Today

Culling data from employee engagement surveys can drive strategic business decisions. One problem holding companies back is the ineffective collection and use of engagement data. It can become a useful business tool.”.

Strength in Numbers

HRO Today

Cigna’s CHRO John Murabito leverages a data-rich people strategy to drive proactive business decisions. He also shares two enablers of Cigna’s talent strategy: data and unique employee benefits. We kept those five things in mind to ensure that as we try to construct the new company, we are using those five tools to reinforce the type of culture that we want. We undertook a thorough review of each of the legacy company’s policies and benchmarked industry standards as well.

Retaining Home Healthcare Workers with Employee Engagement Surveys

HR Daily Advisor

Employee retention and satisfaction are more central to leadership agendas and a top priority at strategic planning sessions and industry conferences. Surveys Help Improve Communication and Reduce Turnover.

5 Ways to Communicate and Engage With Your Deskless Workers

SocialChorus

Many of these un-wired employees are in industries like retail and hospitality with the highest attrition and turnover rates , so getting them access to company policies, up-to-date information, and their organization’s brand story is essential.

HSD Metrics® Expands ExitRight® Staff With Hiring of Tina Califano

HSD Metrics

Califano will provide expertise in all aspects of exit interview services from marketing through set up and delivery of ExitRight turnover data. For most organizations today retention is a priority, and accurate, timely data is the first step to decreasing turnover.”. Tina’s knowledge will enable HSD Metrics to expand its retention management consulting to clients.

How HR Can Tackle Diversity Using the Rooney Rule

Visier

Dropbox is committing to unconscious-bias training for all it’s employees (over 1,200 people), and to regularly release data on the diversity of its workforce. Consequences of this can range from reduced competitiveness and productivity to increased employee turnover to higher compensation costs. If you’re seeing low numbers, this may be a sign that you need to re-evaluate your sourcing channels, and/ or screening tools.

5 Ways to Communicate and Engage With Your Deskless Workers

SocialChorus

Many of these un-wired employees are industries, like retail and hospitality with the highest attrition and turnover rates , so getting them access to company procedures, up-to-date information, and their brand story is essential. By looking at both qualitative and quantitative data , you work toward improving reach, engagement, and retention. It’s time we took care of deskless employees who are 80% of the global workforce.

Introduction to Recruiting Metrics FAQ

Workable

Here are frequently asked questions and answers about recruiting metrics to help you understand recruiting data and use it to boost your hiring: Intro to Recruiting Metrics. If you want to dig deeper recruiting metrics that matter, add metrics like application completion rate, hiring manager satisfaction or new hire turnover. The first step is to determine what kind of data you need to monitor. Alternatively, business intelligence tools (e.g.

Calculating Your ROI with Talmetrix: Free Trial of Our ROI Calculator

Talmetrix

Studies have linked increased employee engagement to better productivity and reduced turnover – but what about its impact on your financials? Because we’re constantly asked about the returns of investing in the employee experience, we created a tool to show you the direct impact that improving your employee experience can have on your bottom line. If you don’t know these costs for your company, you can also use industry benchmarks to estimate your ROI.

How Healthcare Employers Can Manage Nursing Talent More Strategically

Precheck

First and foremost, healthcare organizations need to address problems in the work environment that can lead to employee dissatisfaction, burnout and turnover, and that starts with nursing management. Investing in educating and supporting frontline nurse managers is a key strategy to improving retention of direct care nurses,” says Beth Ulrich , principal investigator for the study. Investing in additional support for nurses can also reduce burnout and improve retention.

The Future of Workforce Planning

HR Daily Advisor

Employee turnover is extremely expensive, costing up to 1.5 Glamorous and exciting perks are certainly useful tools, but studies have shown that these types of perks are not actually what employees want. If they don’t have the information they need or the tools, things can quickly fall through the cracks, leaving employees unsatisfied. Thanks to cloud services for data analytics, scenario planning, and predictive technologies, it doesn’t have to be this way.

8 Questions to Ask for Effective HR Reports

EmployeeConnect

That’s why staff members complain and protest about inaccurate assessments, data-driven errors and unpopular decisions – HR reporting fails to deliver unless the HR reports dig down into the databases to get the most accurate and relevant performance information, employee profile data and business intelligence. Data-driven decision management , or DDDM, is an approach that uses verifiable data to assist in decision-making processes.

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SurvaleTM Announces Record Growth, New Capabilities and Awards for 2018

Survale

New features such as Reference Checking , Text/SMS feedback collection, Shared Insights hiring manager self-monitoring feedback views, internal peer benchmarking, new reports and more. Survale’s powerful analytics overlays candidate feedback and behavior with hiring manager and recruiter feedback and other metrics like quality of hire, onboarding effectiveness, hiring manager satisfaction, new hire satisfaction, employee engagement, and employee turnover/retention.

Why People Leave Their Jobs (and How Their Reasons Should Shape Your Organization’s Talent Strategy)

Something Different

…So I spent the weekend reading about turnover and engagement, and this HBR article had some really good insights that got me thinking about talent attraction and retention strategy – specifically how Managers/HRBPs can use human capital data to improve turnover and progression outcomes. Who is a flight risk and why based on historical data? <www.teambonding.com> Happy Monday all. . .