Essential Workforce Analytics Every Organization Should Know
When you manage a business and/or a team of people, it’s easy to get bogged down in your day-to-day projects and to react to one crisis after another without taking a moment to analyze why the crises keep occurring.
On Thursday, September 24, 2020, Tiffany Guthrie, a Senior Human Resources Advisor for G&A Partners, presented “Essential Workforce Analytics Every Organization Should Know” to offer leaders an alternative. She explained how, in today’s technology-enhanced world, it’s easier than ever to collect important workforce data and then analyze it over time to make any necessary adjustments to how you manage your business, interact with your employees and customers, or improve safety and security measures.
“As an HR professional and extrovert, I don’t derive a lot of enjoyment out of looking at numbers,” Guthrie said. “But I love people and I love the stories numbers tell about people. HR professionals or business leaders can put together an entire book of stories about people taken totally from numbers.”
Throughout the nearly hourlong webinar, Guthrie provided a number of examples where HR and human capital management (HCM) metrics could be used to tell those stories and inform the decisions that would affect change in a more positive and productive way.
Some data Guthrie recommended leaders consider measuring include:
Staffing and talent
Total compensation (which includes benefits cost per employee and benefits participation)
Compliance issues and adherence
She said each of the stories gleaned from this data will help organizations improve their processes and ultimately scale their business while also saving money.
After examining what to measure and how, Guthrie shared real-world examples of dilemmas organizations face, then explained how to solve the issues with workforce analytics. While taking questions from audience members at the conclusion of the webinar, she provided further advice for gathering data manually—without sacrificing a ton of time and effort—and helping your organization see the value of becoming more data-driven and analytics-focused.