Workforce analytics is undergoing an important change.
Human resources leaders who use workforce analytics software must now produce reports that advance business results such as determining the reasons turnover might be high in one region but low elsewhere or the causes of high sales on one team and underperformance on another. HR reporting can no longer be done in a vacuum with no strategic value to the business.
Workforce analytics software must enable enterprise analytics that derives business value from core HR data. "HR needs to ask, 'What is the business looking for? What kinds of people and what kinds of skills do we need to drive value to the business?'" says Claire Schooley, principal analyst at Forrester Research.
The same theme was underscored during a session at the HR Technology Conference & Exposition by Mark Berry, vice president of human resources at CGB Enterprises Inc., a diversified agribusiness. Berry says he's seeing business benefits from tools that include Visier Workforce Analytics, ADP Vantage HCM and ADP DataCloud for benchmarking. CGB uses Visier to provide head count, hiring, terminations and other key performance metrics along with cost data and analysis.
There's no shortage of metrics for HR data analytics software. Employee engagement -- generally, the emotional connection between workers and employers -- is becoming more critical, for example, because engaged employees perform better.
"To draw a correlation between investments and outcomes, being able to measure employee engagement and interact with it from an analytics perspective becomes a top priority," according to Luke Marson, co-founder of iXerv, an SAP SuccessFactors consulting partner. Engaged employees can improve a business's profits.
This handbook on workforce planning and analytics provides insight into hiring, training and retaining top performers; performance metrics; and connections between HR and corporate balance sheets.