Stories Behind Numbers – What is Workforce Analytics?
Is there even such a thing or is this another attempt at merging old practice and new technology without referring to anything concrete in particular? Moreover, is a workforce analytics software even worth it, or is this another product invention that tries to sell something which has always been done anyway, but at a steep price? With SAP, and especially with Success Factors, the answer to this question is that, yes there is such a thing, and yes it is worth it. The answer lies in workforce analytics definition.
Workforce analytics is telling the story of an organization based on the numbers and figures pertaining to human capital. The numbers give us a picture — but what does the picture look like? What was it like before and what shape is it likely to take in the future? Why is the picture this way at all? It’s actually dynamic, complex — and yes, mind blowing.
Workforce analytics allows the users, specifically human capital managers and corporate decision makers, to understand the human behavior that is behind the figures on recruitment, promotion, turnover. Workforce analytics software will tell you why more people seem to be doing overtime, why they are late or absent, or why they do not seem as productive as desired. Workforce analytics is part of a bigger scheme called workforce planning, which is defined as a systematic identification and analysis of what a company needs to achieve its objectives. The need is in terms of people, since workforce planning in essence is all about the workforce, or human capital. Specifically, how many people do we need and what skill sets do they need to possess in order to add value to the organization? What kind of academic background or work experience do they need to have? Do we have an ideal personality profile for specific job functions? The idea is being deliberate about the people you want to bring into the fold, and creating conditions for them to thrive professionally and personally for the good of both employer and employee. The objective is making the employee love the job for making him productive and happy and able to grow, and in doing so enabling the company to attract and retain the specific kind of talent it needs to propel it forward.
Workforce analytics software does not come cheap. One such brand, SuccessFactors, now a member of the global SAP family, would require considerable outlays. The discerning, deliberate company however will see that in today’s free-for-all information, someone has to make sense of and sift through the data to separate the meaningful from the trivial. SAP workforce analytics is indeed a powerful tool and insight into human workplace behavior.