“Best In Class?” You are Probably Using Workforce Analytics

Still thinking about the aging workforce I read an interesting article in the Financial Director discussing the importance of Workforce Analytics data.

“In 2009, IBM found just 28% of 400 HR professionals used any form of analytics for defining knowledge, skills and capability requirements needed to execute the business’ strategy”

A shocking statistic in itself but the article went on to point out that since then an additional 500,000 people are without work, there has been a 10% drop in university applications and the number of people expected to be working beyond 65 is set to be 6% by 2019.

The point here and in my previous blog is that the workforce is changing rapidly, it is well recognized and we will all have to get used to the need to be far more predictive of the future and use Workforce Analytics to predict the future workforce requirements and be ready for them.

One of the studies referred to in the article was by The Aberdeen Group and they found that companies that incorporate Workforce Analytics data into their analytics tools are three times more likely to achieve “Best in Class” than those that do not. In this same article London Waste talks about the way they are using Workforce Analytics to better tender for new work and predict future staffing requirements.

Well worth reading, it helps us all understand why Workforce Analytics are crucial to maintaining a competitive advantage.

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