What are Workforce Analytics?


Workforce Analytics Defined

Workforce analytics describes a set of tools that measure, characterize, and organize sophisticated employee data. These tools are used to present detailed employee performance to provide a better understanding and assist in overall management.

HR leaders use workforce analytics in various forms, such as predictive and prescriptive analytics.

  • Predictive Workforce Analytics helps managers comb through mountains of data to determine which employees have the greatest potential for success with the organization. The data also predicts which employees are most likely to leave in the near future.
  • Prescriptive Workforce Analytics prescribes actions HR leaders can take to help develop and retain key members of the workforce, based on data uncovered from predictive analytics.

Both are an essential part of workforce analytics and when used together, these tools can make all the difference!

Why Do Companies Invest in Workforce Analytics Software?

All great companies are made up of the right people in the right positions. Workforce analytics allows HR leaders to determine who the right people are, which tasks suit them best, and how to ensure they remain satisfied in their roles.

Analytics aren’t just for statisticians anymore. A growing number of organizations are using analytics to examine and act upon data about their people in the workplace. Known as workforce analytics, these sophisticated tech tools are changing the HR game, and those companies willing and able to harness the power of Big Data for analytics are seeing great gains and meaningful advantages over their competition.