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How are organizations using HR analytics to increase employee recruitment and retention? Dr. Rigolizzo: Regarding recruitment, thoughtful data can reveal built-in biases that keep you away from qualified candidates. There are many ways to use it down to where recruitment dollars should go. Does it matter if we do an interview?
To learn more about strategic workforceplanning , check out this blog post). Getting that magic ratio of junior to senior staff is a big part of strategic planning for professional services projects. Since junior staff often start at the lower end of the compa ratio, their increases are often larger.
In addition to boosting employee retention, this can also support a strategy of hiring from within the organization instead of competing on the open market for talent. “?An Companies now have to rethink their workforce and hiring strategies and instead invest in upskilling their workforce,” she states.
For example, a financial services organization used people analytics to considerably improve its workforceplanning process. It reduced its workforceplanning cycle by 25%, improved the accuracy of its hiringplan from 78% to 95%, and increased the accuracy of its headcount plan from 60% to 95%.
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