Utilize Data Analytics to Enhance Your Workforce Solutions
June 5, 2024
Michelle Ritchey
Client Support Vice President
at Surge, and has over 5 years of experience in the data analytics industry. Read more about Michelle’s experiences to gain insight into this quickly developing field.
Leveraging data analytics for talent management—known as talent analytics—has become a game-changer for achieving optimal outcomes.
Surprisingly, despite the vast potential, a significant portion of company data remains untapped. 73% of organizational data languishes unused, collecting virtual dust in server rooms.*
The Data Analytics Buzz
Data analytics has become an undeniable force in workforce management, reshaping how businesses and clients operate.
It's not just numbers; data tells a compelling story, capturing the attention of staffing and workforce solutions professionals.
There is an abundance of business intelligence tools available to visually transform the data, such as Tableau or PowerBI, and they all possess unique, interactive interfaces.
Business Intelligence tools have been around decades and what is so amazing currently is how easily accessible they are, the number of options we have, and their ability to quickly analyze massive volumes of data in real time, and they are even becoming more intuitive for non-technical users to learn.
Workforce Solutions Experts Are Using Data Analytics
Whether you're an experienced HR professional, new to the field, or a leader in staffing and workforce solutions, understanding the pivotal role of data analytics is crucial for navigating today's competitive labor market landscape.
Surge uses data analytics for a wide range of applications in almost every department. We use it to analyze and interpret overall company performance as it relates to financials and profitability, risk management and cost analysis, marketing strategies, understanding market and wage trends, labor forecasting, employee performance, and reporting performance metrics to our clients.
Some of the ways to leverage data analytics:
Enhances Talent Sourcing, Matching, and Hiring
Data analytics empower decision-makers to swiftly pinpoint the most suitable candidates based on various criteria, including skills, interests, and values. By leveraging data, you are able to source candidates for vacant positions within your organization. It allows you to carefully match applicants' skills, experience, and cultural compatibility with your job description before scheduling interviews.
Supports Healthy Work Production Levels
Keeping work production levels healthy is crucial to a company's operational excellence and achieving organizational goals. Employers and workforce managers play a pivotal role in motivating employees to enhance performance.
A workflow analysis can reveal a bottleneck or inefficiency that is slowing production down. Addressing these issues can streamline operations.
Assists Clients in Budgeting Workforce Expenses
Outsourcing report preparation saves on software and training expenses and offers expertise in interpreting and leveraging these reports for business advantage.
At Surge, we go beyond report generation, providing comprehensive insights and guidance to optimize your workforce management strategies.
Not only do we use data analytics to support internal business decisions, we also provide our clients reporting that provides invaluable information and insights and impacts their critical business strategies as well.
Provides Insights Regarding Current Market and Wage Trends
Data analytics offers insights into current market dynamics and wage trends tailored to each client’s industry.
Our clients appreciate how Surge analytics supports a strategic partnership. Data analytics provides a structured approach to business reviews with our clients. Rather than discussing assumptions and opinions we can review factual, data driven information. We can look at historical data to find opportunities in past results and celebrate great results.
Using data analytics, strategic labor planners create workforce solutions tailored to each project. As a result, clients receive tailored strategies backed by comprehensive data that includes:
- Historical performance and workload data
- Skills gap analysis
- Client-specific operational and risk management data
- Technical trends shaping the industry landscape
Clients can confidently plan for future projects through data-driven insights, knowing they have a strategic workforce solution that adapts to their unique needs and industry trends.
Advances Workforce Planning Strategies
By integrating HR systems, time and attendance tracking devices, employee satisfaction surveys, performance metrics, and an Industrial Work Environment Survey (IWES), companies can gain a holistic view of their workforce performance. This information empowers companies to create the best plan of action moving forward.
We also provide action plans, forecasting, and predictive outcomes – all using data analytics. Our clients depend on Surge to interpret and report data to help them make critical business decisions. It promotes trust in what we do for them every day.
Are You Ready to Put Your Data to Work for Your Company?
At Surge, we understand that the right data and relevant insights can propel your business toward unprecedented efficiency and success.
Our dedicated workforce solutions experts (such as Michelle) provide tailored data analytics services to help determine your workforce requirements and other workforce solutions, such as enhancing productivity and optimizing your budgeting strategies.
By partnering with Surge, you can access cutting-edge data analytics tools and expert interpretations that transform your raw data into actionable strategies, ensuring you meet and far exceed your workforce acquisition objectives.
Our data analytics solutions include billed hours, expense overviews, fill rates, time and attendance, wage analyses, site match analyses, business reviews, and year-over-year/month-to-month reports.
Take Action
- https://www.investopedia.com/terms/d/data-analytics.asp
- https://www.forbes.com/sites/forbescoachescouncil/2023/03/20/10-reasons-companies-consider-using-big-data-in-hr-decision-making/?sh=6177fc6a61a6
- https://www.icf.com/insights/workforce/strategic-workforce-planning
- https://technologyadvice.com/blog/human-resources/hr-software-pricing/
Additional Resources
- https://medium.com/@murdha91/do-professional-staffing-agencies-utilize-advanced-data-analytics-to-predict-workforce-trends-c55d2102aa2b
- https://cloud.google.com/learn/what-is-predictive-analytics