Companies are using analytics in numerous ways to make talent decisions throughout the employee lifecycle. New research highlighted in the new i4cp/ROI Institute report,
The Promising State of Human Capital Analytics
, shows that workforce analytics is important to decision making in several areas of the talent management spectrum (see chart).
The research also identified what high-performance organizations do differently to gain insights that help them truly drive business performance and make strategic decisions based on workforce data.
Here are four ways high-performance organizations excel when it comes to workforce analytics:
On the talent acquisition front, over 3x as many high-performance organizations measure quality of hire than low-performing organizations. Quality of hire communicates the value an organization gets for effort and money spent on recruiting, as well as how effective the business is at assimilating its new hires into the organization.
Top companies are more likely to track talent mobility and measure manager success in moving talent, and are also 4.5x more likely to make the criteria for talent mobility transparent to the entire organization. Talent mobility can be used to engage top talent and build diversity into leadership pipelines.
High-performance organizations are 2.5x more effective at leveraging diversity and inclusion for business outcomes.
High-performance organizations are 6x more likely to evaluate the effectiveness of their learning and development programs than low-performing companies.