Sunday, 25 November 2012

What is Workforce Analytics?

Thispost has been written by a guest writer representing an incorporated company. All views andopinions expressed in this post are the personal opinions of the author of thispost alone.

What is WorkforceAnalytics?

Workforce analytics is ascientific approach to understanding information regarding a company’s workforce, and identifying trends in order to enhance the overallinvestment in employees. In most businesses one of the highest levels of spendwill be staffing costs - this includes every aspect from recruitment, trainingand development, to retention and managed exit.

Smart employers arelooking to get more for their money. They want to know how they can improvetheir recruitment to ensure a new employee fits in with the company. They wantto know what forms of learning and development can enable their new recruit toproduce more and perform better. They want to know what measures improve theirstaff retention levels. They also want to collect enough data when someoneleaves so they can perform more effective handovers and cause minimaldisruption to their business.

Understanding WorkforceBehavior

The purpose of workforceanalytics is to understand the behaviors of a company’s workforce - toidentify, for example, when large numbers of people are leaving specificdivisions. This then allows for investigative efforts to determine the causesof that churn. Is it a management issue? Is it that your competitors areoffering higher salaries? Is there a recruitment consultancy working hard topoach your employees?

When a workforce’sbehavior is understood, this behavior can be addressed. Positive trends can beidentified (such as a high-level of staff retention in a certain team), and usedto improve behavior across the company.

Using Analytics toPredict Workforce Behavior
When the numbers areavailable, it is possible to predict future workforce behavior.  Analyzing this data empowers the organization,enabling the interpretation of this data to be translated into effectivemanagerial decisions.  

For example, identifyingseasonal trends for staff turnover. If it is known that the majority ofresignations in the sales department follow an annual bonus – it may make senseto examine the recruitment cycle to be ready to make replacements. The same istrue for absence management – if it can be demonstrated that there are high levelsof increased sickness following public holidays, employers take steps to ensurethat they have additional staff scheduled to take up the slack.

Basically, workforceanalytics is a powerful tool that enables employers to achieve increased returnon their investment in human capital by allowing employers to pinpoint trendsso that they can be addressed and explored for additional benefits. Workforceanalytics goes beyond providing traditional statistics, it provides important insightsinto the human dimension of an organization – insights that contribute to anemployer’s ability to identify problem areas and effectively manageorganizational health.

Otipo™ Pulse – Real-Time Workforce Analytics for shift basedorganizations, is a revolutionary tool for productivity improvement,based on the ongoing analysis and collection of data from employees andmanagement.
OtipoPulse is built on a shift-scheduling platform (Otipo'sor others), and captures regular, ongoing input from employees and managers toprovide REAL-TIME, ACTIONABLE INSIGHTS. Otipo’s Human Dimension Algorithm provides continuousmonitoring and analysis of scheduling data and employee satisfaction.
Otipo’s unique approach enables the dynamic management ofthe human dimension of your business, resulting in increased productivity andROI.
Otipo provides management expertise, with emphasis onHR operations management, organizational consulting, and the development ofadvanced software solutions.