Here at Brighter Strategies we specialize in the areas of People, Process, Performance, and Planning. We strive to deliver information and tools to the public and non-profit sectors that build and strengthen these core areas. This month we will be looking at the People in your organization, and the human capital trends that are changing the HR landscape.
The past few years have brought sweeping changes to business and new challenges for the HR leaders who support them. From evolving technologies and process breakthroughs to new organizational models, and approaches to talent; remaining abreast of the changes in HR thought and capabilities are of vital importance to your organization. The following new trends will be explored in this month’s focus on human capital:
- Workforce Analytics
- Collaborative Workforce
- Leadership Pipelines
- The Challenges of Organizational Learning
So today we kick off this new blog series with a question: Do you use workforce analytics or is your organization still relying on outdated policy, gut feelings, and tribal wisdom to make workforce decisions? You are in danger of losing your competitive edge and top talent if you aren’t using workforce data and analytics to drive your decisions.
Workforce analytics involves using statistical models that integrate internal and external data to predict future workforce and talent-related behavior and events. These models help companies focus limited resources on critical talent decisions. For example, models have been demonstrated to predict the likelihood that a particular employee will leave in the next six months — and can provide likely reasons for that prediction. With a solid analytical foundation, your organization can make better hires and enhance retention using solid data to lower hiring and training costs, as well as bulking up your talent pool.
In our next blog we will examine what is driving this trend and how workforce analytics can aid your organization.