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Workforce Planning and Analytics for Optimal Business Performance
Businesses and organizations today are confronted with significant and increasing demands on performance, finances, shareholder value, risk management, strategic plans and missions. Pressure on executives and Board of Directors has never been greater. And progress toward meeting every single KPI or Strategic Objective, and managing every risk or opportunity lays in the hands of your workforce.
Talent not only accounts for more than 40% of the organization’s budget on average, it also affects every aspect of your business. In fact, in our experience, poor human capital management practices can account for a 7-41% loss in earnings, resulting from operational underperformance, increased risks in productivity and an inability to meet strategic objectives.
So, why are these poor practices still occurring? Because leaders haven’t identified the underlying problems. They can’t! They do not have access to the data and they can’t view it in a way that allows them to correlate their workforce management to their Key Performance Indicators or Strategic Plans.
OrcaEyes has a solution. Our state-of-the-art application, SonarVision, has been instrumental in helping dozens of organizations across a variety of industries transform into world-class enterprises. We take available information, scientifically look for correlations, identify underlying issues and implement solutions. Sifting through the data is like running an MRI on your business. It highlights areas where your company is currently losing money or not meeting its full potential—putting revenues, earnings and ultimately shareholder value at risk. Equipped with this information, leaders can make small changes in the way they manage, compensate, retain top performers, develop, motivate and recruit employees to achieve outstanding results.
Only OrcaEyes Delivers The Ability To…
Identify key data that impacts Human Capital Performance; Connect the human capital with financial data to develop meaningful performance and risk metrics related to your bottom line; Measure your workforce impact on business performance both historically and predictively; and Manage your workforce guided by this meaningful financial and operational information!
• Recruiting
• Training & Development
• Retention
• Compensation |
• Organizational Readiness
• Time-To-Fill
• Attrition
• Performance Turnover
• Aging Demographics |
Financial
• Lost Revenue Opportunities
• Labor Costs
• Financial Instruments
• Executive Compensation
Operational
• Efficiency
• Productivity
• Customer Satisfaction
• Project Effectiveness |
• Board Risk
• Earnings
• Revenue
• Margins
• Opportunity Costs |
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Workforce Risk.
All business entails risk of various forms and it is only by measuring its actual or potential impact on your bottom line performance that you can determine appropriate management action. For example, shortages in talent required to meet strategic business plans create critical risks to the business and lead to poor financial performance. Leadership knows the loss of top performers and retention of low performers impacts every aspect of the enterprise. We have seen excessive time-to-fill of hourly employees reduce earnings by 5% to 21% on average. What do you think the impact is for sales reps and billable service employees?
For many organizations, aging demographics present risks to business operations, as do diversity and inclusion regulations and a lack of skilled labor in the US. These issues must be addressed in order to limit legal risks and remain successful. SonarVision allows executives to proactively view the business impacts of these categories, better understand the external talent supply and manage or mitigate potential risks. Such insights allow you to turn risks into competitive advantages and greater shareholder value.
Workforce Performance.
When a vendor in your supply chain underperforms, it not only results in lost productivity, you also incur lost opportunity costs and risk goodwill. The same is true of your workforce. When positions go unfilled, you are likely to experience losses in productivity, unnecessary overtime costs, a rise in accidents and delayed delivery to clients.
SonarVision helps you avoid such risks by providing a graphical dashboard with strategic insights into performance turnover, leave levels, time to fill, organizational readiness, aging demographics, external talent supply and more, so you can plan accordingly.
Workforce Planning.
Organizational Readiness is paramount to business continuity and longevity. If you are planning to roll out a new product line, acquire new business units or significantly alter the strategic business plan, you’ll need to be prepared with the right talent to carry out those initiatives.
SonarVision workforce planning software allows you to predict requirements in your labor force by as far out as 10 years depending on how often your business changes. You’ll know who you need to hire and/or develop to meet your goals. You can identify which regions have ideal labor pools based on compensation and availability in the event you need acquire new, move or close facilities. And, you can continuously improve business performance—earnings, revenue, market share, productivity, efficiency and project delivery—all measurably connected to your Human Capital assets. |
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SonarVision™ is a workforce planning and intelligence software solution that allows organizations to scientifically and proactively measure the financial, productivity and social impacts of mergers, acquisitions, reorganizations, downsizing and rightsizing from the macro or micro-levels. A single dashboard provides insight into the entire enterprise’s talent impacts on profits, assets, risks and productivity. |
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