By Jana Reserva
Jan. 24, 2022
Technology and cloud-based applications and platforms enable companies to gather more data, but can they use it to make more effective HR and business decisions?
Virgin Media exemplified how to turn HR data to improve the candidate experience and recruitment process, ultimately reducing a potential loss in revenue equivalent to $5.4 million per year.
Another example is Lake Elsinore Storm, a minor league baseball affiliate of the San Diego Padres. They can track different WFM data, giving them information on how labor dollars are being spent. Using Workforce.com, they see labor costs and revenue per week, per team, and per individual. Because of this visibility and system, they can spot gaps and potential opportunities that help them not just be more efficient with costs, but more importantly, improve customer engagement.
However, the same cannot be said for other organizations, and most are still looking for the best way to utilize and make sense of their data better. In fact, according to a Workforce.com study, 64% of respondents say that labor analytics is a priority when they are evaluating any new software for their organization. It’s a clear indication of a gap between how organizations want to utilize data and how they currently do so.
Integration is key to ensure accuracy, access information fast, and analyze information alongside relevant metrics.
“Over a really long period of time, everything seems fine. And I think it’s true for most HR data. No one really needs it for anyone. No one’s asking, so people tend to forget that this is important. And then there’ll be some event—something regrettable and unexpected. When that does happen, not having this data correct and accessible becomes very, very expensive,” Josh Cameron, Chief Strategy Officer at Workforce.com, said.
When COVID-19 first hit, HR departments were suddenly being asked for a lot of information regarding employee statuses, PTO balances, and pay rates. “Instead of having a week to work it out, HR teams need to provide information right away. We certainly saw that in the market and saw organizations wanting to implement systems really fast to handle all of that,” Cameron shared.
When HR and WFM data are integrated and can be found in a single place, it would be one less thing organizations need to deal with when something unexpected happens.
A good place to start is employee onboarding. A digital and automated onboarding system helps you keep track of employee information from the get-go. This helps keep everything in one place without too much paperwork. An efficient system stays on top of qualifications, certifications, and employee pay rates and alerts HR teams and managers when they need to be revisited.
WFM data can be powerful when used to optimize operations, and it begins with access to vital data and ensuring that frontline managers can use it too.
It’s all about having access to crucial data in real-time and being able to make decisions on the fly. Typically, managers receive an end-of-week report on their labor analytics, but the crucial decision point has passed by then. When they have a real-time view of their operations, they’re able to adjust according to how the day goes.
Access to WFM data can also help managers build cost-efficient employee schedules based on historical data and metrics. It takes out the guesswork and ensures that there are enough employees scheduled to meet the day’s demands.
When HR and WFM data are tracked and analyzed correctly, they can prevent compliance issues from happening. Leveraging data for HR compliance is about preventing potential violations. It means having the information to make sure everything is compliant—from wages, implementing schedules, to workplace policies. But at the same time, it’s also about not having to scramble getting information when it’s requested by authorities.
An integrated system is vital to realize the positive impact of data on your organization. When systems are integrated, consolidating a vast amount of information proves to be much easier. Ultimately, integration allows teams to generate reports fast, act on them quickly, and stay agile if something unexpected happens.
Workforce.com can sync with any platform an organization uses, allowing for scheduling driven by actual labor insights, automated employee onboarding, custom BI reporting, and easier labor compliance, among others. See it in action by trying Workforce.com today.
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