[September 27, 2017] |
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Kronos and analytic.li Simplify Human Capital Management Analytics
Kronos
Incorporated and analytic.li today introduced a new suite of
analytics dashboards for the Kronos
Workforce Ready human capital management (HCM) cloud platform that
empower organizations to visualize and communicate how workforce talent
directly impacts business performance. The best practices dashboards
leverage data from both within and outside of Workforce Ready and
simplify the effort and investment traditionally associated with
launching an analytics program.
News Facts
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The analytic.li solution for Kronos (News - Alert) analyzes the extensive human
resources (HR), workforce management, and payroll data available from
Workforce Ready within the context of additional, critical business
information from outside the platform.
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By supplementing Workforce Ready's rich data set with additional data
points such as financial performance, organizations move from
transactional HCM data reporting to measuring strategic outcomes based
on proven best practices, helping to communicate a highly visual
picture of business performance while keeping people at the center of
important organizational decisions.
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Best practice dashboards available at launch highlight key performance
indicators and success metrics to show how talent management impacts
business performance while providing business leaders with fast access
to evidence-based conclusions to support strategic decision making.
Business success dashboards:
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Place core business metrics in one central location to tie
people-centric data to overall business results, supporting
continual refinement of organizational strategies; for example,
the CEO of a regional retail chain can compare the performance of
each location to identify common trends among high performing
store managers that can be implemented across all locations.
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Will empower HR and finance to take a deep dive into HCM
investment trends and costs to identify areas of success and
opportunities for continued improvement, such as a director of
finance at a national bank seeking to understand how annual labor
spend is distributed across locations, departments, and positions;
how new benefits packages and compensation/promotion strategies
will impact spending; and what accurate targets to set for the
next year's budget.
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Operations-focused dashboards help organizations transition from
reactive decision-making to proactive planning. Predictive analytics
demonstrate how historic trends coupled with everyday choices will
impact productivity in the future, such as:
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Evaluating and analyzing labor spend and external influences,
including demand, seasonality, and/or overtime, to predict whether
labor expenses match anticipated sales cycles and if
performance/productivity expectations match realistic worker
output.
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Supporting continual planning to fine-tune scheduling practices to
maximize productivity and meet demand; drilling down into which
people or cost centers have traditionally consumed the largest
number of hours; predicting when and where spikes will take place;
and identifying future labor requirements early on to ensure
plenty of time to onboard and train team members.
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Workforce Ready and analytic.li make it easier for orgaizations to
keep their finger on the pulse of employee engagement, ensuring they
are attracting, retaining, and developing the most engaged workforce
possible. This includes:
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Helping organizations understand if their compensation strategy is
fair and analyzing if it incentivizes behaviors that drive
positive business outcomes. For example, a cross-functional
committee from HR, finance, and operations for a large network of
hospitals can evaluate the impact of a new bonus program on
turnover and tenure at the department level to identify
correlation to employee performance and engagement.
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Providing a deeper understanding of the demographic and geographic
distribution of a workforce, including talent gaps,
department-level views of generational breakdowns, and additional
trends impacting tenure, turnover, and engagement. This allows a
manufacturer or distributor to identify if a spike in turnover is
caused by an engagement challenge or an aging workforce reaching
retirement so programs can be put in place to prevent churn or
train existing employees on new skills.
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Supporting HR departments that must keep the recruiting process at
an efficient level by providing at-a-glance insights into their
complete talent picture, allowing them to quickly drill down to
see which talent sources provide the most successful candidates
and maximize return on investment while identifying which managers
receive the best acceptance rates on extended offers.
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The Kronos and analytic.li product development teams will continue to
collaborate to identify and deliver additional opportunities to
deliver analytics to organizations of all sizes seeking to highlight
the impact of people-related investments on overall success.
Supporting Quotes
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Bob DelPonte, vice president and general manager, Workforce Ready
Group, Kronos
"Organizations leveraging Kronos Workforce
Ready today have access to high-quality reporting tools that allow
people managers to draw HR, workforce management, and payroll data
from its single database to support real-time, evidence-based decision
making. Through the addition of analytic.li, HR, finance, and even
executive leadership will add a powerful new tool to combine HCM data
with other business measurements to quickly and clearly communicate
the health of the business, where it is trending, and what can be done
to achieve future success."
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Jana Fuelberth, president and co-founder, analytic.li
"Data-driven
and people-driven workforce decisions are not at odds. They're far
more powerful when used together, which is why organizations need a
tool that will deliver evidence-based measurement of HCM strategies on
the organization. Kronos and analytic.li keep people at the center of
every decision, helping to turn information into insights, and
insights into impact."
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Lisa Rowan, research vice president, HR, talent, and learning
strategies, IDC (News - Alert)
"Kronos continues to seek out new and
differentiated opportunities that leverage its unified platform
approach that combines HR, workforce management, and payroll. This new
relationship with analytic.li, and the ability to draw on secondary
data sources for a more complete picture of business performance, is
poised to further support Kronos' goal of helping organizations use
workforce data to make better informed, evidence-based decisions about
their people."
Supporting Resources
About Kronos Incorporated Kronos is a leading provider of
workforce management and human capital management cloud solutions.
Kronos industry-centric workforce applications are purpose-built for
businesses, healthcare providers, educational institutions, and
government agencies of all sizes. Tens of thousands of organizations -
including half of the Fortune 1000® - and more than 40
million people in over 100 countries use Kronos every day. Visit www.kronos.com.
Kronos: Workforce Innovation That Works.
© 2017 Kronos Incorporated. All rights reserved. Kronos, the Kronos
logo, and Workforce Ready are registered trademarks and Workforce
Innovation That Works is a trademark of Kronos Incorporated or a related
company. See a complete list of Kronos
trademarks. All other trademarks, if any, are property of their
respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170927005068/en/
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