As the complexity of workforce challenges continues to rise, so will the demand for more quantitative approaches to address the increasingly difficult people related questions central to organizational success. The power of workforce analytics lies in its ability to challenge conventional wisdom, influence behavior, enable HR and business leaders to make and execute smarter workforce decisions, and ultimately, impact business outcomes. While in recent years, many companies have strengthened their analytics capabilities in areas such as Marketing, Supply Chain and Finance, far fewer have begun to apply analytics to unravel elusive workforce dynamics such as turnover, employee engagement and productivity.The 2014 IBM study of 342 CHROs reveals that less than 16 percent of companies report the ability to use data to make predictions and take action on future workforce issues.
To better understand how companies use workforce analytics to improve business performance, Individuals with responsibility for workforce analytics from 41 organizations throughout North America, Europe and Asia Pacific were interviewed to create this whitepaper.
This study focused on four questions:
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