“Build vs. Rent” is a common dichotomy in technology buying, but what does it mean when applied to workforce intelligence? While the same talent challenges are spurring companies to become more data-driven in workforce decision making, the approaches they are taking fall mainly into two different camps: build or rent. Building your Workforce Intelligence Solution. MORE

No business is immune to risk, especially when it comes to its workforce. HR needs to stay on top of changing workforce rules and regulations to ensure that their company complies. Whenever a new workforce-focused ruling is passed, chances are someone in HR is tasked with — urgently — figuring out what the new ruling means to the organization. on December 1, 2016. MORE

Check out this example of an Infographic, which provides a “101” lesson on Workforce Planning. Let’s say your organization is really concerned about succession planning. You see them everywhere. Infographics are a hot visual trend in the world of information sharing. Sometimes when people think they may need an infographic, they actually need a data visualization. MORE

WorldatWork, a global association for HR management professionals, predicts that the new rule will have a significant impact on both workers and employers : “This phased-in approach will still disrupt long-term wage planning for many organizations, and future annual updates based on unknown increases will wreak even more havoc on compensation planning for large businesses.” MORE

report by Harvard Business Review Analytic Services reveals that the “new” CHRO must be an assertive, data-driven, strategic leader, who demonstrates business creativity and innovation, takes on responsibility for contributing directly to business performance, and arms their organization with the tools needed to be more fact-based in workforce decision-making. Lower unwanted attrition. MORE

And while absolute certainty is never possible, predictive analytics can help organizations look at past workforce behavior to determine what is most likely to happen and plan accordingly. The reason this framework is important relates to what we have seen time and time again in organizations that are successful with predictive workforce analytics. Fact: Analytics is a journey. MORE

Healthcare has long been a highly regulated industry with a diverse and specialized workforce — one that’s hard to hire and even harder to retain at the best of times. Workforce intelligence can provide HR with the insights needed to find out what nurse retention issues exist at their organization and develop solutions tailored to the needs of their staff. Senior RNs? MORE

Workforce Planning: The War Room of HR , by Sylvia Vorhauser-Smith, Senior Vice President of Research at PageUp People, Forbes.com. HR News & Trends hr trends recruitment retention workforce analyticsAmazon’s alleged “bruising workplace.” Walmart’s boost to its minimum wage. Google’s focus on diversity. Donnell, CEO of CareerHMO & CAREEREALISM, LinkedIn Talent Blog. MORE

Whether it was Mark Berry ’s talk on “Quantifying HR with Advanced HR Analytics,” or the “Ask the Expert” Datafication of HR panel of Visier customers joined by Josh Bersin , or Al Adamsen’s interview of tech evangelists on the future of HR analytics, conference attendees couldn’t get enough on the topic of workforce intelligence. Applying Analytics Can Enhance Workforce Planning. MORE

Given that the workforce takes up most of the company budget, it’s hard to argue that there’s a function outside of talent management more critical to a company’s ability to execute on its strategy. The answer is simple—it’s because workforce metrics and programs have traditionally been difficult to connect to business results. How does training spend relate to our defect rate? MORE

The workforce in the developed world and China is rapidly aging. Despite increasing automation, in the next 20 years there will be a serious shortage of skilled workforce everywhere. The changing workforce demographics require a more nimble and skilled approach to linking talent and business outcomes. Have an Informed Point of View on Workforce Cost Concerns. MORE

There is a clear connection here between what happens in the workforce and the success of the organization. Exceptional companies know that the best people decisions drive the best business outcomes : More diverse workforces outperform others. In my last post , I discussed how innovative new ideas that drive success come at the intersection of the workforce and the business. MORE

Getting started with strategic planning means that you need to think about the big ideas driving your business over the next year, and ask: What are those strategic objectives that are the focus of the executive team? Once you know the answer, you just have to figure out how to tie those to actions that affect the workforce. Make Workforce Planning a Regular Habit. MORE

The majority of leaders (73 percent) have experienced talent shortfalls due to poor workforce planning, according to a new report released by Harvard Business Review Analytic Services (HBR-AS). At a high level, the workforce planning challenge is that the budgets created by finance have little to do with the actual talent needed to execute the business objectives. MORE

This made “What happens if the boss gets hit by a bus?” a big postwar question, and ushered in an era of new revolutionary practices, such as coaching, job rotation, 360-degree feedback, high-potential tracks, and succession planning. Today HR has the opportunity to enter the spotlight again as a leader in workforce planning. Today’s Talent Shortfalls. MORE

As Vice President of Workforce Management Practice and Principal Analyst at Brandon Hall Group Mollie Lombardi wrote in this Workforce Planning blog post last year: “Workforce planning is tricky business. Not just because of the complexity entailed in the process, but because if you ask four people what workforce planning is, you’ll likely wind up with five definitions.”. So, what is Workforce Planning? Workforce Analytics supports Workforce Planning by: Connecting workforce data to uncover insights. MORE

Getting a great employee engagement score, but discovering that 15% of your workforce spends half their day on non work-related tasks. But simply surveying your workforce for sentiment data once a year and getting a sleek report won’t give you the insights you need to avoid serious snafus. E mployees raising a publicized stink with the union over your rewards. The post Boo! MORE

According to a survey by the National Council of State Board of Nursing and the Forum of State Nursing Workforce Centers, 55% of registered nurses (RN) are age 50 or older. Healthcare providers have a unique driver to connect their workforce decisions to business outcomes: cost of healthcare delivery, and patient outcomes and satisfaction. million people in the U.S. MORE

When a company acquires another business, bringing the two workforces together is the single most challenging undertaking of the entire project. This is the challenge that the People Insights team at ConAgra Foods sought to address after the company announced its intent to acquire a private label firm in 2012, which would increase the size of its workforce by 42 percent. MORE

Succession planning is about managing the risk associated with any type of critical skills gap. At the end of the day, you can manage this risk by ensuring you have a solid pipeline of successors and developing workforce plans for the future that take into account your business strategy and goals. Golden Rule #4: Build succession into your workforce plans. MORE

But there’s a case to be made that workforce planning is the one process that creates the highest level of risk for the organization if stakeholders don’t work together adequately. The challenge for HR, however, is that creating a workforce plan requires juggling a staggering number of inputs. The collaboration can’t come to a halt once the plan has been created. MORE

Companies cannot hire fast enough to keep up with their workforce demands and competition is fierce for those high potential people who will deliver innovative solutions or go above and beyond for your customers. Recruiters need a clear vision of hiring plans to help them determine when is the right time to hire talent. Workforce Intelligence 101 recruitment MORE

Changing Cost of Workforce: There Are Decisions to be Made. Walmart and Facebook are “marketing” to the workforce through their messaging and placing pressure on other organizations to match the pay and benefits offered or risk losing their people. Know Your Total Cost of Workforce (TCOW). Workforce Intelligence 101 compensation total cost of workforce MORE

With the “datafication of HR” as one of the industry’s hottest topics, business leaders are increasingly expecting that HR leverage the massive amounts of workforce data generated by their multiple systems. However, many organizations do not have the foundational tools necessary to get the right insights from workforce analytics or to plan effectively. MORE

Since joining Visier, I’ve been thinking a lot about the value of workforce analytics. In fact, a consistent finding from the annual Sierra-Cedar HR Systems Survey (which I managed for 16 years) was that “ organizations with workforce analytics outperform.”. Earlier I said that “organizations with workforce analytics outperform,” but what does “outperforming” mean exactly? MORE

Workforce analytics are now better than ever, but organizations need to properly access them, align their information with decision-making, and act accordingly. The competitive urgency to use analytics isn’t new; however, in the past two years there has been an increased understanding that workforce intelligence is not just about making HR better, it’s about making the business better. MORE

When customers start using Visier, they often tell us the stories that led them to seek out a workforce intelligence solution. Due to the lack of accuracy in the workforce planning process, the business lost eight months of financial gains. Why planners pad workforce expense budgets. An option is to run a parallel planning cycle for a year and compare the results. MORE

We are in an unprecedented war for talent: companies cannot hire fast enough to keep up with their workforce demands. “Companies cannot hire fast enough to keep up with their workforce demands” – @VisierAnalytics Click To Tweet. Today, HR has the opportunity to enter the spotlight again as a leader in workforce planning. the workforce dynamics. MORE

If users feel frustrated and uncertain while using a new tool, such as a workforce intelligence (WFI) solution , they may return to the old methods of figuring out their HR data despite how antiquated or cumbersome they are. Planning and communication were key to success. The trick is to include a little of each style in your lesson plans so you are able to engage a larger audience. MORE

While workforce analytics and workforce planning are increasing in priority , most organizations have not progressed to take advantage of the opportunity that workforce data provides. This provides little in efficiency and, more critically, little business impact that comes from connecting workforce data to business outcomes. Level 1: Reactive. Moving Up. MORE

Great HR leaders understand this and can demonstrate how workforce dynamics impact business outcomes. This means that, in addition to considering human dynamics, the modern CHRO has the challenge of helping the company develop resource plans that are matched to financial expectations while delivering or exceeding desired business outcomes. However, Link talent and cost implications. MORE

However, knowing your turnover rate does little to support strategic business plans. HR, with its understanding of human capital dynamics, is uniquely positioned in the organization to ensure the workforce is aligned with the needs of the business at the optimal cost. The Era of Workforce Analytics. Choose the Right Workforce Analytics Solution For The Job. Risk of Exit. MORE

Before the catch, the receiver typically runs a pre-planned route on the field to escape coverage from the defensive team and get into an open space for the catch. When it comes to workforce planning, it’s just as critical that all the players involved are in sync. In this early stage, the core workforce plan is created, agreed upon, and distributed. Monitoring. MORE

Indeed, investing resources into a top-notch HR analytics function — one with the right mix of people, processes, and technology — is key to successful workforce management in 2016 and beyond, no matter what industry you’re in. Develop The Right Mix of Workforce Diversity. Recommended Read:  Why Banking on Your Workforce Boosts Business Results ]. The good news? MORE

Okay, I’ll admit that I do have a bias towards this session: As one of six vendors participating in the Awesome New Technologies for HR session, Visier ( @VisierAnalytics ) will be showcasing the future of Workforce Planning, and demonstrating how successful HR leaders don’t just report on what happened in the past, they ask ‘what if?’ Employee Engagement: What’s It Really Worth? MORE

The biggest factor in both dimensions is the workforce: a highly specialized and very mobile group of skilled caregivers who are constantly in short supply. Studies show that the workforce is vital to the bottom line for healthcare organizations: 86% of healthcare executives say talent plays a critical role in determining their patient satisfaction scores. But what is HCAHPS exactly? MORE

However, the opposite proved to be true: when the organization started using Visier’s workforce intelligence solution , the analytics revealed that the so-called “high scoring” candidates (who were hired!) What led to improvements was a proper workforce intelligence solution that showed the end-to-end results of the hiring process. Test Theories and Workforce Planning Scenarios. MORE

Indeed, the “datafication of HR” is accelerating, driven by the critical need to create better business outcomes using evidence-based workforce decisions. 73% of executives say that poor workforce planning leads to staffing gaps and the inability to meet business goals. Yet, how do you prove your business case for workforce intelligence? healthier. MORE

But in a world where workforce costs dominate total operating expenses — averaging nearly 70% of costs — businesses can no longer afford to have HR take a backseat or keep to the status quo. . The Bureau of Labor Statistics has projected the need for over 1 million nurses in the workforce by 2022. Failed to Plan? The New Workforce Planning — And The New HR. MORE

critical component of the modern CHRO’s arsenal is a detailed understanding how much the organization’s whole workforce really costs. The workforce is usually the biggest investment an organization can make, and decoding a Total Cost of Workforce (TCOW) is the greatest organization leverage the CHRO has. It’s time to put HR on an equal footing with Finance. Business-Oriented. MORE