Four ways high-performance organizations excel at workforce analytics
Companies are using analytics in numerous ways to make talent decisions throughout the employee life-cycle. New research highlighted in the new i4cp/ROI Institute report, The Promising State of Human Capital Analytics shows that workforce analytics is important to decision making in several areas of the talent management spectrum as shown below:
Plan, Acquire, Develop and RetainHow important is Human Capital Analytics to decision making in these areas?
- Leadership development — 67%
- Talent retention — 65%
- Strategic workforce planning — 64%
- Talent acquisition — 62%
- Employee engagement — 62%
- Training and development — 61%
- Performance management — 59%
- Compensation and benefits — 48%
- Diversity and inclusion — 46%
- Organizational design— 45%
Source: i4cp, 2016-2016 Human Capital Analytics Survey
The research also identified what high-performance organizations do differently to gain insights that help them truly drive business performance and make strategic decisions based on workforce data.
Here are four ways high-performance organizations excel when it comes to workforce analytics:
- Quality of Hire
On the talent acquisition front, over 3x as many high-performance organizations measure quality of hire than low-performing organizations. Quality of hire communicates the value an organization gets for effort and money spent on recruiting, as well as how effective the business is at assimilating its new hires into the organization.
- Talent Mobility
Top companies are more likely to track talent mobility and measure manager success in moving talent, and are also 4.5x more likely to make the criteria for talent mobility transparent to the entire organization. Talent mobility can be used to engage top talent and build diversity into leadership pipelines.
- Diversity & Inclusion
High-performance organizations are 2.5x more effective at leveraging diversity and inclusion for business outcomes.
- Learning & Development
High-performance organizations are 6x more likely to evaluate the effectiveness of their learning and development programs than low-performing companies.
Reprinted with the permission of i4cp, the fastest growing and largest corporate network focused on the practices of high-performing organizations. www.i4cp.com