HRO Today July/August 2014 - 50

Market Insight
Data Driving Decisions
A new report captures four key metrics that promote better performance.
By Ranjan Dutta, Scott Pollak, and Kristina Dunphy
Market demand for workforce analytics is on the rise as
business leaders increasingly recognize that the right
talent is critical to bringing business strategies to life.
Equally important is the ability to access and analyze
the right information to support talent-related business
decisions. This is often easier said than done.
Many HR departments are beginning to recognize
that delivering the right insights at the right time
requires the creation of a new competency-one that
incorporates the development of new workforce analytics
deliverables. In order for an organization to produce
these deliverables, they will need to have the tools and
technology to create them and an approach to boost
usage and adoption.
PwC Saratoga recently published hundreds of metrics
that reinforce the business improvement opportunity
available to HR departments today-if they can
align workforce performance to business strategy,
supported by effective data. Analysis of critical metrics
reveals weaknesses in the market, and identifi es
leading practices in workforce analytics that can help
promote better performance. Four areas have strategic
signifi cance:
1. Capturing return on workforce investment through
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HRO TODAY MAGAZINE
| JULY/AUGUST 2014
operational workforce planning. According to the PwC
Saratoga report, productivity indicators trended up
in 2013 for a second consecutive year across the 12
industry sectors studied. Revenue per full-time employee
increased from $370,399 to $404,058. However, despite
improvements, a primary metric for return on workforce
Investment-labor cost as a percent of revenue-still
remains poor compared to pre-recession levels. To help
companies align workforce performance, we take a look
at opportunities in workforce planning.
This planning focuses on the here and now, pertaining
to next month, next quarter, and the remainder of
the year. It can have an immediate impact on labor
costs, productivity, and fi nancial results, yielding an
opportunity to better align the processes related to labor
cost, among them:
* Financial forecasts
* Headcount management
* The talent acquisition pipeline
Operational workforce planning often requires several
steps. Companies need the ability to automate the
integration of disparate data, including labor costs
like compensation and benefi ts, hiring, revenue, and

HRO Today July/August 2014

Table of Contents for the Digital Edition of HRO Today July/August 2014

HRO Today July/August 2014 - 1
HRO Today July/August 2014 - 2
HRO Today July/August 2014 - 3
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