Leveraging Workforce Data To Better Utilize Talent—Today and Tomorrow
Workforce Analytics has been around for some time, yet real progress has been slow. Mercer in partnership with Human Capital Media conducted a global survey of human resource professionals in late 2015 and found that high analytics aspirations were paired with few serious attempts to actually achieve them.
While many respondents (77%) said they plan to increase their workforce analytics capabilities over the next two years, the same percentage also indicated that their organization spends less than $100,000 per year on workforce analytics.
What’s more, the deployed analytics are too simple to even start to understand the link between employees and business success. As few as 31% of respondents believe that they have been highly or even moderately successful using workforce analytics, and a mere 9% indicated that they use predictive analytics often.
What’s holding HR back? The top three roadblocks were technology to integrate data (54%), analytics skills in HR (52%), and management experience to effectively use analytics data (48%).
How Mercer Can Help
With more than 20 years of experience providing advanced analytics, Mercer can help overcome all of these obstacles.
- Select and deploy technology
- Understand employment drivers of business success
- Tell the story with data
- Drive change based on analytics
- Compute the ROI
- Be proactive in workforce planning and talent strategy instead of reactive.
- Quantify problems and identify risks.
- Automate internal processes for greater efficiency.
- More effectively recruit, retain, develop and engage talent.
- Gain strategic insights into business imperatives and talent implications.
- Measure the gaps and risks in talent supply and demand.
- Create models for talent management options.
The Mercer Advantage
- Pioneered advanced statistical analysis in human capital consulting.
- Deep expertise in moving from diagnostic to implementation.
- Experience with 1,000+ clients across all industries.
- Intellectual leader in workforce analytics and R&D.
- Established tools, methodologies, and data management protocols.
- Scalable solutions.
The result: client companies can quickly ramp up workforce analytics and planning initiatives, at a lower cost, with a faster ROI, leveraging Mercer's deep expertise.
Internal Labor Market Analysis
At a basic level, it examines the flow of people into, through, and out of an organization, answering fundamental questions about a firm's workforce, such as who gets hired, who performs well, who advances, and who stays.
Building Evidence Into Your Diversity & Inclusion
Mercer's distinct approach to diversity and inclusion combines the latest scientific research with workforce analytics, world-class expertise in leadership and organizational performance, and peer-to-peer networking opportunities for our clients.
Strategic Workforce Planning
Finds the right balance of quantity, quality, and location of critical talent; and pinpoints internal supply of and demand for critical skills and roles under multiple business scenarios.
Pay Equity Calculator ™ (PEC)
Mercer's Pay Equity Calculator brings together comprehensive, expert analytics with customized software to provide for an effective, objective review process and assurance that an organization is compensating its employees equitably.
Business Impact Modeling
Business Impact Modeling ® (BIM), a proprietary Mercer tool, is a quantitative method that identifies the workforce characteristics and management practices that are the strongest drivers of business outcomes such as productivity, profitability, growth, quality, and customer retention.
Human Capital Scan
The HC Scan systematically probes a range of issues, from the current state of the business to the envisioned strategy, with a particular focus on the six factors that most affect workforce performance: talent/labor pool, work processes, management structure, knowledge and information flows, decision making, and rewards.