Capital is cheap. Human capital is not.
Recently we sat down with a CFO and asked him if workforce planning mattered to him. He said, “I can pick up the phone right now and get a billion dollars to build a plant. Capital is cheap. Unfortunately, I don’t know if I can get the economic return on the billion dollars … because I don’t know if I have the quantity or quality of workers that’s required to run it. Unless I can get that from my HR team … I’m not going to make that phone call.”
"62% of organizations rate themselves as ineffective at workforce planning."
Do you have the human capital to support your big plans for the future—and are you managing it to meet those goals?
Employers need highly skilled employees to thrive, now and in the future. A weak pipeline or hidden talent issues can shake your organization’s very foundation before anyone has realized there might be a problem. But while many firms today can easily acquire capital to make new investments, the right talent is often harder to find.
Your workforce should be managed like any other investment.
That means understanding:
- Where a workforce analysis starts. What questions should you be asking?
- The role of big data — and how to steer clear of the “big data trap.”
- How to use predictive analytics to determine the best recruitment sources, the talent that will rise to the top, the employee characteristics drive business performance, and more.
- Which beliefs are holding your organization back. Exchange myths for facts to achieve the business results you seek.
More Than Decades of Workforce Analytics @ Mercer
Mercer is known as a pioneer in the area of evidence-based workforce management grounded in advanced workforce analytics. Since the early 1990s, our Workforce Sciences team has created powerful methods of workforce analysis and modeling that have been used by many top-flight organizations around the world to inform a wide range of workforce management and reward strategy decisions.
Mercer Workforce Analytics & Planning Products and Services
Mercer’s proprietary Internal Labor Market (ILM) Analysis® provides a fact-based platform for making many essential decisions about human capital. 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.
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.
Mercer's Pay Equity Calculator
Mercer’s Pay Equity Calculator™ (PEC) tool provides an efficient way to review and resolve pay inequities for an organization’s entire workforce, using a methodology that meets stringent new government standards for self-evaluation.
Diversity & Inclusion Analytics
Founded in 2014, When Women Thrive is Mercer's global research and solution platform designed to help organizations drive growth through the active and productive participation of their female workforce.
Mercer's Employee Research
An engaged workforce is critical to sustained organisational performance. Empirical research has long established a significant link between measures of employee engagement and business outcomes such as product/service quality, customer satisfaction, employee productivity, and employee retention.