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Compensation Analysis: The Definitive 2022 Guide

Decusoft

There are several benchmarks that are used to analyze data between roles and companies. One benchmark that is typically included in a compensation analysis is salary and benefits data for companies operating in similar industries. Common benefits include health insurance, retirement plans, tuition reimbursement, and vacation.

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Don’t forget internal talent in workforce planning and recruiting

HRExecutive

After breaking down cross-industry data on internal hiring, we provide guidance for how to benchmark this measure and think critically about your use of internal hiring. Benchmarking within your industry is a good place to start since industry can often dictate the external talent market and the feasibility of tapping into it.

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How to Avoid Talent Gaps with Data-Driven Succession Planning

Visier

As with most things, the best way to manage these risks is to be prepared and to have a plan. The trifecta of talent management tools for talent gap mitigation. Is there a retirement risk among the succession candidates on your slate? Readiness progression of your talent. Fictional data used.

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Employee Turnover vs Attrition

HR Lineup

This includes voluntary resignations, retirements, and dismissals. It extends beyond resignations and retirements to include employees leaving due to natural causes, disability, or other non-volitional reasons. Understanding attrition helps organizations adopt a comprehensive approach to managing workforce dynamics.

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5 workforce planning tools and how to use them

Business Management Daily

Baby Boomers make up a significant portion of the company’s current workforce, and their retirement over the next few years could cause serious staffing shortages in key positions. How will things such as age and a strong labor market for workers impact our talent management strategies? Attrition and retention. Competition.

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What is HR Analytics? All You Need to Know to Get Started

Analytics in HR

However, certain circumstances may require incorporating external benchmarking data. We discuss more real-life examples below. Importance of HR analytics Leveraging data has become essential to expanding HR’s role within organizations by moving it from an operational function to a strategic partner.

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Workforce Analysis: HR’s Introduction and Guide

Analytics in HR

Projections are made based on turnover rates—the number of resignations, retirements, promotions, and terminations that have occurred so far—to help inform how this will affect the future workforce. In other words, you’re able to make effective adjustments to your talent management strategy. Improve company culture.