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The creation of an Analytics Center of Excellence has enabled organizations to deliver a strategic advantage from workforce data: uncovering untapped pools of talent, identifying areas of increasing turnover, and forecasting future workforce needs. Participants will learn how to establish a successful Center of Excellence, what activities should be conducted, and how the Center of Excellence interacts with internal business partners.
Use alternative ways to isolate the effects of an HR intervention, Convert human capital data to monetary values and calculate the return on investment, Support future business cases with credible data and a credible approach, Plan/evaluate interventions, using ROI and NPV, Promote new thinking: focus on identify objective measures based on needs and evaluation
Unlike financial data, workforce data comes in many forms and has less well-defined standard definitions and metrics. The Metrics Essentials workshop provides skills to clearly define key workforce metrics and utilize measures to effectively communicate workforce performance to the business.
To have an impact on workforce issues and deliver the most insights from workforce data, practitioners must usually disaggregate data and segment the workforce measures in meaningful ways. In this workshop, a variety of analytic frameworks and techniques will be presented along with case studies addressing common workforce issues such as turnover analysis, understanding the aging of a workforce, and assessing the career-pathing trends.
Workshop participants will learn different analysis techniques to break down large, complex data sets to identify the stories and insights locked within the data. At the end of the workshop, participants will have calculated a linear regression, performed a multivariate correlation analysis, conducted basic statistical validity testing, calculated simple probabilities for organization mobility, and created a complex cost of turnover (COT) model for a specific subset of the workforce.
Translate strategy into workforce needs, Implement more effective ways of proactively using data, Design analyses to uncover human capital drivers of business success, Develop fact-based interventions, Ask better questions to determine root cause analysis of workforce issues, Focus the organization on what matters, Work more effectively with HR business partners to build reports and deliver analyses on workforce information
Design the workforce planning system most appropriate to their organization, Integrate workforce planning with corporate planning, Make practical and responsive demand and supply forecasts that make full use of management's experience and judgment, Incorporate workforce planning as an ongoing process, linked to strategic and business planning processes, Bring line managers on board and help them to assess their workforce needs, Support managers in implementing effective workforce planning and intervention strategies, Integrate workforce planning with performance management...
Apply workforce planning concepts to the needs of public sector organizations; Use scenarios in planning future workforce needs; Align the workforce with business strategy; Identify today’s HR implication of future staffing requirements; Use techniques for forecasting future workforce needs; Systematically understand and tackle aging workforce and “talent war” issues; Embedding a workforce planning process with other strategic and operational planning processes.
For those who want to elevate their organization’s workforce planning capability, this class will move beyond the basics to incorporate robust financial analysis and achieve a systematic, organization-wide embedding of the process. Using Inform’s Workforce Planning Platform, participants will create a forecast that is easily disseminated throughout an organization. The class will place emphasis on gap analysis and issue prioritization, then focus on financial modeling to evaluate strategies to bridge the gap with an understanding of the bottom-line implications of certain workforce decisions.