Workforce Analytics How To

How to Use Workforce Data in Your Extended Workforce Program

Once you develop the process and capabilities for converting Big Data into useful and actionable intelligence, you can use data analytics to build a talent strategy to make your company more agile and turn your workforce into a competitive differentiator. There is a lot at stake. Michael Capone, Chief Information Officer at Automatic Data Processing, Inc. says, “The companies that leverage workforce analytics effectively will win the war for talent.”

Integrate your tools and processes

When you use a hodgepodge of tools and solutions, you add barriers to retrieving and sharing information. You have to integrate tools to understand where your information is located and make sure the right people in organization can access that information. For example, a strong vendor management system (VMS) that can deliver real-time data should be part of any successful contingent programs.

Do not simply look back

In addition to analyzing your program’s past performance – to understand what has happened – you need to be able to engage in predictive workforce analysis – to understand what will happen. Once you have harnessed Big Data, use your data to analyze current and future human capital requirements. You should be able to optimize your workforce to create the best mix of employee and non-employee labor to achieve desired results.

Look at the big picture

Analytics allow us to spot geographic and demographic shifts before we otherwise might, as decisions to hire in a specific location or for remote workers happen daily and rates change quickly and often. Detailed analytics are useful for seeing more than the immediate challenges facing the organization.

Recognize the business case

Data-based decision making makes sense. Properly leveraging analytics lets you budget better for the future and gauge future spending. Whether you are tracking SOW-based projects and services or managing temporary labor, an effective framework for managing data provides increased visibility into your spend and your labor deployment. You will also be able to easily track headcount, spend, and cycle time.

Use business metrics, not HR or procurement metrics

According to Christopher Dwyer, “The true effectiveness of SOW-based projects, services and contractors can only be measured by leveraging analytics to understand how these items stack up against pre-defined (and communicated) goals, objectives, milestones, and delivery dates.” Align metrics with your business’s strategic goals. Although organizations task HR with human capital management, it is the business, not human resources, that is ultimately responsible for talent management.

Measure the “intangibles

Use quantitative data to measure qualitative aspects of your CWM program. It is possible to use data to measure the performance of talent across the enterprise. The more organizations can measure the human dimension throughout an employment life cycle, the more effectively they can manage and improve workflow and productivity. Additionally, measuring performance allows companies to identify high-performers and train some workers for other positions.

Begin with the end in mind

Figure out where your organization wants to be. Detail this in your business goals and workforce strategy. Assess where you are now. You can use data you have already collected to do this. Now develop a plan and talent management strategies to get from where you are, to where you want to be.