Workforce Planning and HR Analytics Posted on : Jun 25 - 2017

There’s been quite a lot of buzz regarding workforce analytics and its benefit to companies of every kind. The real challenge lies in converting disparate types of “people data” into strategies your company can actually utilize.

What is workforce planning?

HR initiatives can take many forms, such as streamlining recruitment or managing compensation, but it doesn’t magically provide solutions to every problem. Many analysts are very intelligent and skilled people, but rarely accountants. Transforming workforce planning and analytics into dollar value takes a cooperative effort from business managers who know what to look for. Given the number of analytic initiatives that fail to deliver, we can at least come up with a list of things to avoid.

Not defining purpose

There are more workforce planning tools appearing, but not all will be the right fit. It’s much better to know specifically what you want to accomplish and include only data that’s relevant. The concept of data analytics has become an essential business tool, but HR managers who analyze just for the sake of crunching numbers and discovering statistical facts may not be contributing anything of value. Workforce analytics requires you to be familiar with your specific subject, what questions you’re asking, how to organize the data, and how knowing the answer would directly improve workforce management and provide advantages to the company.

Liability

When sifting through employee data, or collecting more, there can be a fine line between value and employees looking up personal injury solicitors. While facts about age, gender, religion, and so forth could divulge valuable information, using them the wrong way could be considered discrimination. Sharing sensitive data could be considered a violation of law. Likewise, adjustments to wages should involve consultation with a compensation lawyer. The wrong plan could lead to civil suits, bad press, and a loss of company image that causes more problems than it solves. Check with legal advisors before the analysis even begins. View More