HRO Today July/August 2014 - 51

Market Insight
headcount among others. It also requires breaking
down and reforming existing processes like financial
forecasting, headcount management, talent acquisition
process-those processes that should " talk " to one
another but don't. A champion who recognizes the
hidden opportunity that sits within most departments'
estimated budgets for labor spend-like better
alignment and lower hiring costs through more planned
recruitment-will help operational workforce planning to
be executed effectively.
Companies that can better align forecasted headcount
and labor cost with projected headcount and labor
cost can more easily achieve financial results without
creating downstream consequences such as severance,
shortages, and poor quality hires. (Forecasted headcount
typically stems from previous patterns whereas
projected headshot is rooted in actual, current business
circumstances like a lost project, a large sale, or lost
revenue for an unexpected deal that didn't happen.)
Much focus in the analytics market has been placed on
strategic workforce planning: looking ahead three to
five years to determine the gap between the future
demand for talent and the future supply. But a more
tactical, immediate view related to operational workforce
planning can have a great impact as well.
2. Curtailing high-potential and high-performer turnover
through an integrated approach to employee surveys.
Voluntary turnover has continued to rise consistently
across the 12 industry sectors examined, increasing from
8.4 percent in 2012 to 8.8 percent in 2013. Significantly,
the separation rate among high performers rose by 19.5
percent, leaping from 5.0 percent in 2012 to 6.0 percent
in 2013-hitting its highest level in a decade.
The trends in turnover metrics demonstrate the
importance of promoting employee engagement as a
critical program. While the concept of tracking employee
engagement has been in practice for several years, many
organizations have fallen into a routine of conducting
annual surveys without taking into account several factors:
* Action planning;
* Linkage analysis;
* Strategic, programmatic survey management; or
* The practice of using responses as critical inputs to
predictive solutions.
Companies that can better align
forecasted headcount and labor
cost with projected headcount and
labor cost can more easily achieve
financial esults without creating
downstream consequences such
as severance, shortages, and poor
quality hires.
Employee surveys are typically siloed and do not align
with onboarding or exit surveys, mainly because they are
often handled by different parts of HR. Organizations
need to recognize the increased value they can achieve
by creating a company-wide " integrated " approach
to workforce surveys, supported by individuals with
the right expertise and insight to improve program
consistency and effectiveness.
Organizations can derive insight from a wide array
of survey sources across the organization, including
recruiting (candidates and hiring managers), onboarding,
engagement, exit, and customer (internal and external).
Surveys capture current employee attitudes and are good
predictors of actual behavior (performance, attrition).
But when conducted in isolation, theses practices can fall
short.
Including engagement scores into dashboards, strategic
reports, and predictive models can raise awareness,
accountability, and, ultimately, action planning across
the business. Organizations with mature survey programs
may also link individual or corporate engagement
results to performance metrics, including review ratings,
safety incidents, customer satisfaction, and sales, to
determine the business impact associated with improving
engagement.
3.Improving new hire quality with a predictive model for
selection. The survey results shows two significant hiring
trends. First, organizations are hiring more people. Our
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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
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