Efficiency Metrics
82% of CEO’s are asking – “Prove the value of our investment in Workforce Planning!”
Consider this:
A new senior officer has joined your organization and you are being asked to help them understand their current workforce. This officer wants to know the strengths, weaknesses, risks, and plans to ensure they have the right people to do the work, now and in the future. The officer is asking tough questions about what metrics are being used, the types of analysis, your degree of confidence in the numbers – and WHY? How prepared are you to provide that information? What would you share? What do you need that you don’t have?
These are questions we addressed in our Workforce Planning Exchange in i4cp’s People Analytics Series. Read on to learn more.
Why efficiency metrics matter in SWP : Efficiency metrics are an internal look to inform and evaluate the investment in programs and people.
Meeting Objectives: Define and discuss which efficiency metrics are the most important for Strategic Workforce Planning, and how they are being used in workforce decisions. (Example metrics include: headcount, time to fill, cost to fill, turnover ratio, retirement eligibility/ risk, span of control etc.)
Recap of First Two Meetings for the People Analytics Series: You can listen to the kick-off of i4cp’s Exchange-only People Analytics Series here and you can listen to July’s Data Governance exchange for SWP here. Below is a high-level recap of some of the things we heard in last month’s data governance meetings:
- Most participants do not have a governance model or are in the process of building one
- Governance is key in determining what data is useful and how to use it, especially when it comes to evaluating talent risk
- Data governance is critical in aligning workforce strategy to business strategy
- Governance drives trust and empowerment with employees and management
SWPE August Meeting Presentation
