Workforce Analytics

Workforce analytics is the process of collecting, measuring and analyzing business performance data. By transforming data into information, workforce analytics helps managers, HR and the executive team adapt and respond to change and inform corporate strategy.

Workforce analytics gives managers valuable insight into the operation of their workforce and management system. It can also help them adjust a workforce to meet an organization’s goals and objectives. Good analytics gives information to optimize a company’s performance and helps proactively address challenges.

Workforce Analytics provides answers to several basic operational questions. Which employees are performing? Who gets hired? Who get promoted? Answering these questions offers an overview of the operation, your workforce and management system.

What kind of information can workforce analytics provide?

• Headcount calculations: Simple or advanced calculations that make up the entire workforce such as the number of permanent employees, vacancies and contractors.
• Budget metrics: Average salaries, salary roll-ups and highly compensated employee indicators allow for general workforce reporting and planning.
• Ethnic Diversity Ratio: Information about an organization's ethnic composition.
• Performance Metrics: Useful when looking at aggregate company performance, individual metrics, or trends in each department, division and line manager. These metrics are primarily used to measure an individual employee's performance against defined standards.

Combining the data from workforce analytics with org charting software enables HR and the executive team to build a stronger, more organized and balanced workforce.

With org charting software, companies can generate workforce analytics reports that illustrate employee information such as:

• Headcount
• Gender Ratio
• Ethnic Diversity Ratio
• Age Ratio
• Job Type Census
• Employee Benefit Participation

Who has access to workforce analytics?

Mangers, HR and the executives should have ready access to workforce analytics. They play a pivotal role in shaping up the corporate strategy of an organization.

Accurate employee data and workforce analytics can save HR valuable time and help them make informed decisions.