Workforce Analytics – Up the Ante is the first of a series of ten topics we are presenting from the Deloitte Human Capital Trends – 2011 article.
Given the importance of talent and people, it’s time to move beyond instinct, gut, and tribal wisdom in making workforce decisions. If you’re not using workforce data and analytics to drive your talent decisions, you may be behind the curve — and at risk of losing your competitive edge. As HR works with business leaders on the front lines, analytics are becoming critical in making more effective decisions related to workforce planning and recruitment, compensation, development programs, and deploying critical talent.
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 the prediction.
Read the full article . . . . Workforce analytics – Up the Ante
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Filed under: Talent & Human Capital, analytics, compensation, Deloitte, development programs, recruitment, talent, workforce, Workforce analytics, workforce planning
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