Workforce analytics helps improve recruiting methods or processes, develop strategic hiring decisions, and retain top employees. If properly maintained, it can help predict the success of employees, determine the need for new departments or positions, as well as determine which departments should be removed from the organization to better reduce expenses.
Workforce analytics is so important because it also identifies risks that employees may face and helps maintain the structure of business. The idea is all to apply statistics to make the best out of your workforce.
How to go about it:
Find out the issue that needs to be resolved in your business or organization. Is it the poor performance by employees in a particular department? Is it high turnover? Is your organization affected by aging workforce? The issue or challenge your organization is facing may be different but try to identify it first.
The next thing to do is determine which data is relevant to the success of your business and workforce and then store it. This data should be needed to solve the issue that you identified. For example, if your business is going through huge turnover, you may want to dig into the reasons why employees are leaving. Why are they resigning? Are you losing more employees from a particular department? Are you loosing the current younger generation? These are factors to keep in mind when collecting data.
Discuss with people within the management group in your company and share ideas on how to solve identified issues. If your business is really small, you may want to speak to high-end partners, clients, or consumers that directly affect the success of your business.
Start solving the issues raised one at a time. Don’t rush things up. It is important for you to solve an issue and then progress to solving the rest. It makes it easy for you to determine and measure the success of your workforce analytics.
If you can afford a software to store data, that will be good; otherwise, do what works best for your organization (depending on your budget) as long as you keep updating your data. Don’t worry about anybody telling you that keeping data isn’t worth it because it will come in useful very soon.
If you are an employer or in the management group and you have a topic you want me to discuss, please send an email to [email protected] or visit the contact page. I will be willing to help as best I can.
Have a beautiful day!