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Analytics Unleashed: Practical Applications in HR Analytics can be an intimidating word for many HR professionals, often conjuring images of endless spreadsheets, eye-watering pivot tables, and a level of technical complexity reserved for data scientists alone. Next, theres the all-important art of workforceplanning.
Accurately forecasting workforce needs helps organizations avoid talent shortages, reduce turnover, and remain competitive. This article discusses the importance of workforce forecasting, different methods you can use, and best practices to observe to ensure effective workforceplanning.
This requires tremendous changes in the current workforce. In this case study, strategic workforceplanning is applied to solve this national problem, impacting millions of commuters. A few particulars in the context were important to understand how strategic workforceplanning was approached. Curious how?
Nurse burnout–a state of physical, mental and emotional exhaustion caused by chronic stress–is a common problem in healthcare, one that came up often when I served as Director of WorkforceAnalytics and Special Projects at Vancouver Coastal Health, one of the largest healthcare organizations in British Columbia.
Managing a companys headcount efficiently is essential for ensuring optimal workforce utilization, controlling costs, and maintaining a healthy organizational structure. In 2025, organizations are increasingly adopting headcount management software to streamline employee data management, optimize workforceplanning, and forecast future needs.
You probably have a hiring plan. But do you conduct strategic workforceplanning? Perhaps the desire to increase profits in the upcoming year demands headcount adjustments, and so plans are made to grow or reduce staff, contractors or consultants. That’s where strategic workforceplanning comes in.
Key Services: Recruitment and Talent Solutions Workforce Training and Development Managed Services and Outsourcing Assessment and WorkforceAnalytics Career Transition Services Why It Stands Out ManpowerGroup’s data-driven approach to workforce management and talent solutions sets it apart.
This data enables employers to make strategic decisions around hiring, budgeting, and workforceplanning. We’ll delve into how it helps optimize HR operations, streamline workforceplanning , and support compliance requirements. Managing remote and in-office workforce distribution. What is Headcount Reporting?
Strategic workforceplanning enables HR and business leaders to identify and anticipate their workforce needs and challenges and take action to ensure the organization is prepared to succeed not only today but in the future. Contents What is strategic workforceplanning?
Workforceplanning is the process of leveraging data to ensure that a business’s workforce supports business needs, goals, and strategic plans… Workforceplanning is essential to keeping your business appropriately staffed. This is where the magic of HR analytics comes into play. So how does it work?
HiBob HR leaders use HiBob’s powerful enterprise HR software, Bob , to manage all aspects of the employee lifecycle —from recruitment to retirement—within a single, user-friendly platform. Prospective users are encouraged to conduct their own research to make the best decision for their organization.
WorkforcePlanning 101: Your Guide to an Effective Strategy October 17th, 2024 Share on Facebook Share on Facebook Share on LinkedIn Share on LinkedIn In today’s rapidly evolving business landscape, effective workforceplanning is essential for organizations striving to remain competitive.
How can HR leaders build a workforceplan when we don't know what the future will be? Fortunately, we’re in a better place than ever for workforceplanning because we have solutions that help us gather, analyze, and use workforce data to prepare our organizations for the future.
I haven’t really listed deals below on this, but there are so many payroll companies and smaller PEOs with leaders reaching retirement age that are selling off the company. The integration of HiredScore’s AI strengthens Workday’s foothold in skills-based hiring and workforceplanning.
In 2025, people analytics has emerged as a transformative force, enabling HR professionals to gain deeper insights into employee behaviour, engagement, and performance. This blog explores the growing significance of people analytics, its benefits, and how organisations can leverage it to foster strategic HR initiatives.
In the dynamic landscape of business, where change is the only constant, organizations need a robust strategy to ensure that their workforce aligns with the evolving needs of the company. What is WorkforcePlanning? What is the Process of WorkforcePlanning?
To determine how to align and sustain these three objectives, HR uses some form of workforceplanning. Instead, HR and workforce planners should be looking to people analytics to enable them to make better strategic decisions. Here are five key steps to use analytics to inform your workforceplans: 1.
There is a lot of talk about workforceanalytics and big data but I think you have to do this strategy and planning work first and some of the data you need for this is just not that complex and hidden. Trish] I see real workforceplanning and management strategy as the top issue facing HR leaders in 2015.
Numerous LMN employees are approaching retirement age. The need for strategic workforceplanning. In preparation for future needs, smart businesses engage in strategic workforceplanning (SWP). Another common option is seeking outside help to formulate a workforceplanning strategy.
has come to the realization that strategic workforceplanning is a necessity for the organization. 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. Strategic workforceplanning map.
Hire-to-Retire (HTR) refers to the comprehensive employee lifecycle management process that spans from the moment an individual is recruited until they retire or exit the organization. The objective of HTR is to create a seamless experience for employees while optimizing workforce management and enhancing organizational efficiency.
This is where strategic workforceplanning, or development, comes in. This is a structured business process designed to proactively anticipate, and plan for, future personnel needs. Strategic workforce development: what’s in the name. Let’s first look at our definitions.
You, on the other hand, face building challenges in the form of Baby Boomer retirements and difficulties in recruiting young professionals. ” Fortunately, through modern workforceplanning and analytics solutions , you can defend budget proposals with precise data which directly speaks to ROI-benefiting outcomes.
Great talent, and the organizational success that follows from it, are almost always the result of careful planning. common sense that workforce. planning is the key to ensuring you have the right talent in place and plans for ensuring you always have the skills and competencies necessary for organizational success.
You, on the other hand, face building challenges in the form of Baby Boomer retirements and difficulties in recruiting young professionals. ” Fortunately, through modern workforceplanning and analytics solutions , you can defend budget proposals with precise data which directly speaks to ROI-benefiting outcomes.
Great talent, and the organizational success that follows from it, are almost always the result of careful planning. common sense that workforce. planning is the key to ensuring you have the right talent in place and plans for ensuring you always have the skills and competencies necessary for organizational success.
With baby boomers heading into retirement — by 2050 an estimated 88.5 But there is another retirement population that is perhaps even more worrying to them: nurses. This means that more than one million RN’s will reach retirement age within the next 10-15 years, leading to a drastic shortage of skilled, tenured nurses.
Strategic role: Strategic planning and business alignment 2. Growing the business: Workforceplanning, recruitment, and selection responsibilities 4. They ensure that employees receive the benefits they’re entitled to, including health insurance, retirementplans, and vacation time.
We often talk about the employee lifecycle , the “recruit to retire” journey of an individual through multiple human capital processes. In order to keep up with skill shortages and avoid costly role vacancies, organizations need to close the loop between business strategy, workforceplanning, and talent acquisition.
These platforms centralise workforce data from recruitment to retirement and turn it into actionable insights. With real-time analytics dashboards, predictive modelling, and workforce trends, HR leaders can make informed decisions that align with broader business objectives. But automation is only the beginning.
Workforce analysis takes a broader approach than people analytics by using both employee and ROI data to make informed recruitment, retention, and employee management decisions. These insights are crucial for an effective workforceplanning process. The workforce is a vital business resource for any organization.
HR must ensure they receive the correct pay and benefits, such as health insurance, retirementplans, wellness programs, and leave credits. Workforceplanning: Optimizing a company’s staffing levels to prevent shortages and surpluses in the workforce.
Job market analytics : Helps organisations identify skills shortages and hiring trends in their industry. WorkforcePlanning & Analytics Predictive analytics : Provides insights into workforce trends, turnover risks, and future skills needs. How a Feature-Rich HR System Future-Proofs Organisations 1.
Tracking attrition rate is helpful to monitor if the number of people leaving is growing or declining so HR teams can improve workforceplanning and people management. Attrition: An employee retiring after reaching the age of retirement. An employee leaves their job due to poor work conditions.
This helps HR focus their recruitment efforts and inform workforceplanning efforts to ensure they have the right people in the right place to meet organizational goals. Identify key areas where analytics will help you solve problems and meet goals that add value to the organization from a business perspective.
Companies recognized that without a plan for how to address their workforce needs, they put their entire company at risk of going out of business or being sold off. As a result, almost all large companies dedicated an entire department to workforceplanning, and HR was asked to perform a vital and powerful role.
Human resources analytics, a relatively new discipline, is growing at an extraordinary rate and is quickly becoming an essential competency for HR professionals, according to Dr. Michele Rigolizzo, an assistant professor at the Feliciano School of Business at Montclair State University. That said, medium and large companies will benefit most.
Businesses can use talent analytics to determine which of these employees may be suitable for future opportunities and promotions based on the new skills they’re acquiring. Talent acquisition analytics As we’ve already mentioned, data has become indispensable in building and executing talent acquisition strategies.
Often organizations provide tools that allow employees to explore opportunities and develop plans, set goals and take action to proactively navigate their career. Below, I outline different ways people analytics can be used to support these processes. Succession planning with data. Fictional data used. Fictional data used.
Headcount report usually has information on every employee relating to: Job status (active or inactive) Job title Schedule status (part-time, full-time, contract) Time in role / tenure Salary Exemption status (exempt or non-exempt from receiving OT pay) Age Gender Ethnicity Education level Location Retirement age Veteran status.
Benefits administration: Managing employee benefits, such as health insurance, retirementplans, and PTO (Paid Time Off). Succession planning: Identifying and developing future leaders within the organization, ensuring key roles are always filled. HCM shifts focus from administrative efficiency to strategic workforceplanning.
Smart workforceplanning is about deriving how each role drives your business forward. If your senior engineers are retiring in two years, you must nurture technical leaders now. Did you know: McKinsey found companies with agile workforceplanning outperform peers by 50%. Are you expanding into new markets?
Workforce data provides you with the advantage of turning these threats into benefits. The workforce management of the future will no longer depend on unreliable sources and methods for their workforceplanning. Ensure that your workforce management benchmarks are updated.
The Silver Tsunami refers to the increasing number of veteran professionals heading into retirement and taking their skills and institutional knowledge right along with them. This is happening just as newcomers are entering the workforce, leading to a drain of knowledge. With analytics, you can: Plan for succession.
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