Labor analytics add power to workforce management tools

Employing labor data analytics typically leads to more informed business decisions. From labor forecasting to measuring employee morale, data analytics allows for more precise and impactful results.

The advantages of implementing workforce management solutions also are clear. Automating time and pay calculations and empowering employees through mobile apps give managers valuable tools to control scheduling, compensation costs and organizational needs. 

Using both resources powers the ability to make even stronger choices for workforce management. 

Power tools with the power of analytics

Backing workforce management tools with the power of labor analytics creates a formidable partnership. This can help save money, establish formal business practices and remove the guesswork hindering management and operational issues. Employers can make more informed talent decisions, and:

• Predict future hiring requirements.
• Calculate current staffing needs.
• Analyze compensation and overtime.
• Optimize employee engagement.

Also read: Labor analytics: A how-to guide for company leadership

Predict future hiring requirements

The growth of an organization can be hobbled by its ability to find qualified employees. Since there are times when hiring comes in a flurry, recruiting becomes post the position, make the hire and pray they work out. Oftentimes new hires are not as productive as the existing staff and can cut into the team’s productivity. Forecasting labor needs through analytics establishes measured hiring practices. And implementing tools such as Workforce.com’s shift ratings and feedback solution provides managers with the ability to carefully balance veteran staff with new hires.

Calculate current staffing needs

Managers can get burned by being overstaffed and understaffed if they rely on traditional shift patterns and gut instinct. Overstaffing creates disillusioned employees with little to do, a lack of focus and a negative attitude toward co-workers. Productivity suffers and compensation costs needlessly soar. Conversely, understaffing leads to employee stress, burnout, poor performance, rattled customers and high turnover. Shift feedback tools help managers forecast their needs and curb chronic overstaffing and understaffing.

Analyze compensation and overtime

Few things catch an employer’s eye faster than seeing overtime on the compensation ledger. And like melting snow off a mountaintop, their irritation trickles down to frontline managers. Indeed some overtime can be justified, but there are workforce management solutions to adjust scheduling to seasonal or even hourly rushes that will manage compensation costs and limit unneeded overtime.

Optimize employee engagement
An engaged workforce produces a happy workplace. Balancing staffing needs and incorporating flex schedules builds confidence that management is looking out for their interests. Allowing employees to provide feedback also gives them a voice in organizational operations. 

The Workforce.com Shift Rating and Feedback mobile app prompts staff once a week to provide their insights on common workplace topics. Their feedback in turn helps managers rate staff and build skill profiles. Those profiles benefit managers by pairing employees with varying skill levels as they build out schedules. Managers making quick, informed decisions gives employees the knowledge that their input has provided valuable guidance.

When workforce analytics and tools are functioning well, it’s not only the business that benefits. Employees want to take more initiative. Empower them with workforce management mobile solutions to solve problems. For example, they can:

• Communicate their needs for scheduling and time off.
• Quickly swap shifts on their own.
• Get and provide feedback that can improve their performance and drive organizational productivity.
• Develop their skills and utilize their potential.
• Build camaraderie across the team.

Equip executives and managers with the analytics and tools they need to understand labor issues and make more informed decisions. Implement Workforce.com’s shift ratings and feedback solution to quickly and easily bolster your employee and scheduling analytics.