Understanding Employee Turnover and Increasing Retention with Analytics
Follow Although the business press enthusiastically touts the benefits of analytics (and the related field of analyzing Big Data sources), they share far too few specifics about what that means for most companies. So this week, let’s take a look at one of the more common problems in workforce management: measuring and understanding employee turnover — then hopefully preventing it from happening in the future — with analytics. Why is employee turnover so important? Recruiting and training employees is expensive. Losing the good ones is a bad thing and holding on to the...
Read MoreData Analytics for Human Resources
Follow For many organizations, labor is their single greatest tool for generating revenue — and their biggest cost. With that kind of opportunity and money on the line, and because personnel decisions can be difficult to reverse, managers spend lots of time thinking about which employees to hire and how to keep them productive. Unfortunately, real measures of hiring success and productivity can be difficult to come by. Even the best managers frequently must make personnel selection and management decisions based incomplete information, faulty assumptions and instinct. This...
Read MoreHow Data Analytics Can Support Succession Planning
Follow Growing businesses need talented, motivated people to thrive. Many organizations have a formal succession planning process in place where company workforce managers proactively and formally seek to develop top talent, so that they can fill senior leadership and high-value technical positions from within. Succession planning isn’t exactly a data analytics activity – but data analytics can give human resources managers insights they can use to make sure top performers don’t go unnoticed and areas most in need of top talent are properly identified. How Does Succession...
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