Visier Inc., a Vancouver-based provider of workforce analytics, has published a new white paper: “From HR Metrics to Workforce Analytics: Five Key Workforce Insights That Every Employer Should Capture for Greater Business Impact,” that addresses the need for HR professionals to move beyond collecting individual HR metrics to measuring comprehensive workforce topics. HR metrics alone will not help HR professionals understand the contributing factors and drivers impacting their organizations. Note: you must provide contact information in order to download the whitepaper.
Workforce analytics organized into broadly based linked topics provide for a big-picture view that not only helps HR and business leaders understand the current situation, but also allows them to see the contributing causes that are influencing a specific workforce issue. Analytics are critical to understand problems that cannot be summarized simply with a few metrics, and cannot be fully comprehended with just a few visuals.
The reality is that the most commonly measured workforce metrics do little to help HR professionals and business leaders achieve real insight into maximizing their human capital investment. To make better business decisions regarding their workforce, leaders need to see the connections in their workforce data and examine comprehensive workforce topics. HR leaders need to understand the contributing factors and drivers of their workforce, in order to create more effective action plans.
HR Metrics, including time to hire or employee turnover, simply do not get to the heart of how people (and people strategies) are affecting organizations. To obtain these deeper insights, people managers need to focus on related metrics that highlight the connections that drive business performance and productivity.
“HR needs to provide line management with analytics that matter most to their human capital and that will drive the necessary changes required to keep their organizations competitive and successful,” according to John Schwarz, Founder and CEO of Visier. “With changing global demographics, and the market demands driven by the ever-changing technology, effective workforce strategy becomes the single biggest factor in protecting the bottom line. And effective workforce strategy depends on truly understanding the impact of making policy changes.”
In this white paper, “From HR Metrics to Workforce Analytics: Five Key Workforce Insights That Every Employer Should Capture for Greater Business Impact,” five critical performance indicators—workforce topics: Critical Talent Retention, Recruiting Effectiveness, Productivity, Compensation and Pay Equity, and Performance Management—are discussed in detail to help leaders understand organizational dynamics and achieve true business impact with workforce analytics, which will positively affect their productivity and profitability.