Workforce Analytics

Workforce Analytics

Transforming workforce experience, productivity, empowerment and well-being using decision sciences.
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What is workforce analytics?

Workforce analytics can prove to be a game changer for your company and is a data-driven process of identifying, acquiring, and maintaining human resources at each step from hire to retire in order to ensure judicious decision-making.

Managing a company-wide workforce and tracking employee performance and engagement while fixing retention issues can be daunting.

However, with the tools of data analytics and HR Management firms that specialize in the employment of these data analytics, you can make an informed decision that is based on solid grounds and intensive research.

Eliminate prejudice, ensure productivity- use workforce analytics and make decisions that you won't regret!

How does the use of workforce analytics help your company plan better?

Data interpretation is a smart tool to identify problems and implement solutions.

With coherent and concise information about the workplace, it is easier to mark areas that need to be worked on and implement strategies to resolve these problem areas.

Using workforce analytics, you can easily assess the company's requirements and make decisions in the direction of a better work environment.

Data technology extends to a variety of fields and helps manage the workforce at all levels and during each phase of their service, from salary analytics and bonus analytics to productivity analytics and engagement analytics.

Workforce analytics is indispensable for smooth workforce management and is a powerful tool for employee administration.

Workforce Analytics

Talent acquisition and retention require close scrutiny of the existent talent pool and careful management of potential candidates.

The criteria for selection must be formulated according to the company's vision and requirements that can be derived via a careful examination of its organizational data.

The wonders of data analytics help you with talent acquisitions and go a step further to aid your company in manpower planning as well by identifying vacant positions, the number of candidates who have applied for that position and the number of days since a position has been vacant so that your company can make appointments and manage hirings accordingly.

Workforce analytics are also a great way to boost employee engagement by keeping track of your company's productivity, identifying its potential and suggesting learning and development programs and courses for the employees as per your company's needs after careful examination of the data collected.

It can also help you manage your employee attrition using data analysis and technology. Data analytics will help you with the evaluation of your company's dropout ratio, maintaining a record of the number of people who accepted or declined a particular job role in your company, tracking the longevity of service after joining the position and evaluating dropout candidates against key factors like gender, age and location to identify attrition issues and resolve them for better retention of talent.

Workforce analytics is the best way to undertake a root-cause analysis of your company's problems and undertake measures to fix these issues.

These problems can be resolved by taking actions like conducting interviews at every level- from entry to exit- and producing data after these interactions for further evaluation.

Use of data can also be made to identify organizational trends and analyse engagement levels of the company and help drill down further to a particular unit or department in the company to get to the root cause of the problem.

Data analytics can help your company devise action plans based on a deep and detailed analysis of the problem situation.

Keeping a close eye on workforce analytics will keep your company be prepared in advance for any future issues that may arise due to a shortage of resources or disruption in its supply.

With the power of data, it would be possible to predict the trajectory of the company's growth and maintain a steady supply and equal distribution of resources at all times.

Apart from optimizing the company's regular performance, workforce analytics will also help you in undertaking succession planning.

Being informed in advance of your company's future staffing needs, you can use the database to maintain factual records of employee performance and competence, enabling you to choose the best internal successor when the need arises.

How can you use data to manage and optimize workforce performance?

workforce performance

Using workforce analytics you can minutely observe company performance and rectify the causes that are acting as an impediment to the organisation's growth.

Making use of the data gathered, you can always plan better and identify departments in your company that are displaying a declining growth graph and address issues related to productivity and performance.

We recommend using workforce analytics to review how well aligned the employees are with your company's vision and use data to close the gap between your company's goals and workforce performance.

Workforce analytics is a great way to focus on every level of your company, evaluating strengths and weaknesses of your organisation regularly to ensure increased productivity and unbridled growth.

Professional HR Management firms like Shrofile use HR analytics to help your company with management of workforce at all levels.

Using data to enhance workforce management and making HR Management smoother and efficient, Shrofile works to foster connectivity, interest, and inspiration within your company.

We help you get the most out of your workforce while fostering an ideal work environment by reviewing important data regarding training and development, employee engagement, salary hikes, promotions, leaves, and more.

Using this information, we launch action plans that work at the root of these causes and enhance the productivity of your company.

Ready to utilize the power of data for improved company performance? Contact us today!

Interested in knowing more? Don’t hesitate to contact us!

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Workforce Analytics topics

Workforce analytics is an advanced set of data analysis tools and metrics for comprehensive workforce performance measurement and improvement.

  • What is workforce analytics?

    A Workforce analytics can prove to be a game changer for your company and is a data-driven process of identifying, acquiring, and maintaining human resources at each step from hire to retire in order to ensure judicious decision-making.

  • HR analytics (also known as people analytics) is the collection and application of talent data to improve critical talent and business outcomes. HR analytics leaders enable HR leaders to develop data-driven insights to inform talent decisions, improve workforce processes and promote positive employee experience.

  • Given the complexities of managing individuals and teams, the use of workforce analytics helps shift the perspective of HR management from general qualitative observations to quantitative and data-driven processes.

  • HR Metrics and Workforce analysis is a useful strategic tool for HR which shares information and evidences about the functioning of the entire system by relying on facts and figures, as opposed to mere assumptions or personal opinions.

  • HR analytics, also known as people analytics, workforce analytics, or talent analytics, revolves around analyzing people problems using data to answer critical questions about your organization. This enables better and data-driven decision-making.

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