With labor costs growing, the quickest path to better business results is identifying what drives your workforce costs.
Good data tells you where to invest and where to cut.
Historically, workforce analytics was limited to spreadsheets, basic HR reports, or complex enterprise software platforms that take months — or even years — to implement. But your company’s payroll information is a rich resource for data-driven insight into workforce performance and management.
With basic payroll data you can power people analytics to improve your bottom line with enhanced insight into changes in:
Labor costs
Headcount
Hiring
Terminations
Time and attendance
Diversity
Productivity
Human capital return on investment (HCROI)
Total cost of workforce (TCOW)
You don’t need to rely on DIY spreadsheets or pay for complex enterprise software. You can start using your company’s payroll information today to power a data-driven workforce management strategy with people analytics.
Visit thinksight.io for more on using payroll data to power people analytics for smarter, faster talent decisions that improve your bottom line.