How People Analytics aids Workforce Planning
New research has shown that over half of UK employers intend to recruit over the next three months.
Workforce planning is an essential practise for all businesses and has been particularly important throughout the pandemic. For many employers, it has been a difficult period of looking at how to keep business going with drastically reduced demand, so the news that about 56% of 2,000 firms surveyed plan to take on more staff in the near future is a welcome positive sign that the outlook for job seekers is finally improving.
So, what role will People Analytics have played in this decision for the 56%?
Clear picture of workforce
People Analytics gives people managers a clear picture of their workforce, helping them easily understand data regarding employment, attrition, necessary skills and performance. It then enables them to predict future trends by linking these metrics to specific behaviours and processes.
Essentially, analytics assists workforce planning initiatives by revealing information that would otherwise remain hidden, such as:
Gaps in talent
Through analysing performance data, these UK employers may have found that stronger leadership is required to aid a particular team’s learning, or that an employee may not be in the right department to get the most out of their skillset. Through identifying such patterns and anomalies, people managers can decide where training may be required or where the best solution may be a new hire.
Recurring labour issues
Analytics can also help people managers identify teams that have been repeatedly putting in overtime and why, allowing them to address potential labour shortages before burnout becomes an issue for the current workforce.
People Analytics can help organisations identify and reduce diversity gaps by giving people managers a holistic view of the current workforce composition. This provides a broader picture of the diversity gaps across leadership and other organisational functions, showing where action needs to be taken to increase diversity.
UK employers intending to recruit in the near future have undoubtedly used People Analytics in at least one of the above ways to identify a need for new hires. Access to real time data and analytics is vital in helping businesses take the right decisions for both short-term success and long-term growth.
To find out more about how People Analytics can help with workforce planning, get in touch and speak to one of our experts today.