Workforce Analytics 101 [Infographic]
With recent articles like Harvard Business Review’s “It’s Time to Split HR,” written by world-renowned business advisor and author Ram Charan, and BersinInsights’ “Will HR Lose the Battle Over Analytics?” written by industry analyst Karen O’Leonard, 2015 is a pivotal year for Human Resources as we know it today. The global economic recovery, compounded by demographic shifts, is moving power from employers to employees, turning labor into a seller’s market. As a result, the workforce is becoming an increasingly core strategic consideration to businesses.
Indeed, managing your workforce has never been more complex:
1. Labor costs are increasing
2. New jobs, hiring, and time-to-fill are at their highest levels in five years
3. Voluntary turnover is on the rise
4. Talent is more globalized and diverse
5. Some industries now rely on contract workers for up to half of their workforce
These are just a few of the talent trends that are driving organizations to adopt a more “scientific” approach to decision-making about people. HR leaders are asking how to:
MAXIMIZE RESULTS FROM TOTAL REWARDS
- How does Total Rewards influence productivity, resignations, or performance?
- What is contributing to our cost increases?
- How can we connect Total Rewards to the business’s bottom line?Read the full article »
VISIER is a partner in our 2016 Human Capital Analytics Summit