A PeopleFluent Executive Brief Boardroom-Ready Analytics: Actionable Metrics for Future Planning Planning meetings. Strategy sessions. Status updates. No matter what you call it, monitoring your company s progress toward business goals requires visibility into all of the moving parts that drive your organization toward success.
As your organization s largest expense, your workforce should also be the biggest player in organizational planning. And workforce analytics are critical for fueling those planning decisions. In fact, according to the MIT Sloan Management Review, 67% of companies believe that analytics actually create a competitive advantage. And with the emerging trend of corralling big data for business strategy, using workforce analytics to align talent with the company s future plans can be the very thing that makes that competitive difference. But where do actionable, accurate workforce analytics come from? With predictive analytics and trend line tools, InSight is the software as a service that provides executives with boardroom-ready analytics that power business planning. InSight visually delivers metrics that help business leaders forecast workforce needs and see how talent impacts the company s strategic plan. Key decision-makers will be able to answer real questions about the company s future and formulate an actionable plan for aligning talent to meet business needs. InSight visually delivers metrics that help business leaders forecast workforce needs and see how talent impacts the company s strategic plan. What is the impact of retirements in the next two years? According to the AARP, approximately 8,000 baby boomers reach retirement age every day. The recent recession has left many unprepared for retirement, and others are simply taking unique approaches to working as they age, which creates an environment of unpredictability around this generation of retirement-age employees. Companies cannot rely on industry trends and workforce age data to predict the impact of retirements any longer. They need metrics specific to their organizations how and when their people are retiring. InSight s Retirements trend lines with forecast points allows leaders to see not only current retiree trends, but also predicted retirements over any time period. The view can be adjusted to show counts and rates for all positions, critical roles, high performers and more. Best of all, forecast metrics are based on historical data points from your organization s data. As with all of InSight s trend line reports, time periods and forecast point dates can be adjusted for custom views. Boardroom-Ready Analytics: Actionable Metrics for Future Planning 2
When executives can see the frequency of retirements specific to their companies, along with trends for the future, they can more easily envision the talent gaps that will need to be filled over those time periods and adjust the workforce plan to accommodate the cost of new hires or training needs. Retirement Trend Reports See actual retirements over a period of time View forecast metrics based on historical data See retirement rates for all positions or age groups See retirements for critical roles and high performers Boardroom-Ready Analytics: Actionable Metrics for Future Planning 3
Do we have the talent in place to meet our strategic goals? Workforce analytics can reveal a great deal about the level of talent already in place or necessary to help an organization reach its goals. And it s something more and more companies are catching on to. When Aberdeen Group surveyed 250 organizations for its 2012 Analytics in Action study, it found that the integration of talent and business strategy was the number one initiative in place among all of the organizations, revealing that analytics is increasingly driving the alignment of people with planning. Further, the study showed that the most successful organizations had in common both visibility into talent data for business leaders and understanding the gap between available talent and the business need both key drivers for strategic planning. InSight provides leaders with a view of this gap with the Workforce Plan report, which shows a graph view of headcount supply and demand based on forecast for a specified group and period of time. Executives can manipulate the graph by entering projected hires and terminations into the Staffing Plan Adjustments table below the graphs. Once projected numbers are entered, the new talent variance is reflected in both the table and the graph. Also valuable is net cost information that will help executives track the financial impact of adjustments to strategic hiring plans. The Workforce Plan report is a quick way for executives to get a yes or no answer to the critical question of staffing progress toward a particular business initiative, and it can be especially useful when looking at groups that directly impact revenue, such as sales or customer service. Boardroom-Ready Analytics: Actionable Metrics for Future Planning 4
Workforce Plan Report See gaps in talent supply and demand View specific groups Manipulate data to see impact on planning How is our executive leadership performing against top organizational goals? It can be extremely difficult to get an accurate picture of an executive s performance. There are many factors to consider, such as revenue contribution, performance as a manager and various line-of-business abilities. Many HR software suites can measure these variables. But how do see where your managers stand when it comes to meeting company-wide goals? The Performance Org Chart report from InSight allows CEOs and other leaders to view executives in a visual layout that not only shows departmental structure, but also performance indicators by number and color. Boardroom-Ready Analytics: Actionable Metrics for Future Planning 5
Performance metrics are simplified down to a pre-defined, numeric rating system so that you can rank leaders based on their contributions to organizational goals, then see how they compare to one another in one report. The Performance Org Chart makes visualizing executive performance easy and identifying areas for improvement realistic. Performance Org Chart View color-coded boxes for performer levels View executive team in an org chart layout See each team member s performance rating Meaningful Metrics for Proper Planning Planning that is driven by actionable metrics can lead to a competitive advantage rooted in a deep knowledge of where the workforce is and where it s headed. InSight s boardroom-ready analytics fuel executive strategy sessions and future planning with visibility into data that enables the alignment of talent with business goals. Boardroom-Ready Analytics: Actionable Metrics for Future Planning 6
About PeopleFluent PeopleFluent, the leading total workforce HCM technology company, redefines Talent Management with an innovative Talent Engagement Cloud that is built around people and not HR processes. By deeply integrating pervasive video, strategic analytics and collaborative social technologies into its complete suite of Talent Management applications, PeopleFluent redefines employee engagement to address productivity loss and diminished financial results due to an increasingly disengaged workforce. With PeopleFluent, companies can change at the speed of business without costly IT interventions through intuitive, highly configurable software that is built upon the right data. Spanning across an organization s entire global workforce with one talent cloud, PeopleFluent equips leaders with the meaningful talent data and strategic analytics necessary to make better business decisions. PeopleFluent has worked with over 5,100 organizations in 214 countries and territories to engage employees to drive better business results. Today, 80% of the Fortune 100 relies on PeopleFluent as part of their talent management delivery strategy, helping them successfully achieve their talent aspirations. Irving, Texas 400 East Las Colinas Blvd., Suite 500 Irving, TX 75039 USA Toll-free: (888) 674-2427 Tel: +1-214-574-5020 Waltham, Massachusetts 300 Fifth Avenue Waltham, MA 02451 USA Tel: +1-781-530-2000 Raleigh, North Carolina 434 Fayetteville Street, 9th Floor Raleigh, NC 27601 USA Toll-Free: (877) 820-4400 Tel: +1-919-645-2800 London, United Kingdom 15 Fetter Lane London EC4A 1BW United Kingdom Tel: +44 (0) 20 7832 3440 www.peoplefluent.com Copyright 2014, PeopleFluent. All rights reserved. This document contains registered trademarks and trademarks of PeopleFluent Holdings Corp. or one of its subsidiaries. All other brand and product names are trademarks or registered trademarks of their respective holders.