In the early months of 2024, the tech industry witnessed a significant trend: major layoffs at tech giants like Google and Amazon. Google reportedly made cuts across multiple departments, including engineering and hardware, as well as their virtual assistant unit. This wave of layoffs, affecting hundreds of employees, is symptomatic of wider issues within the tech sector. Factors such as shifting consumer behaviors post-pandemic, poor workforce planning, a phase of over-hiring during the pandemic, and various macroeconomic challenges have contributed to this situation. The Relationship Between These Layoffs and Data-driven Workforce Planning These layoffs bring to the fore the critical importance of data-driven workforce planning. Traditional workforce planning approaches often fall short due to their short-term focus and reliance on gut-feel decision-making, which fails to adequately prepare organizations for external factors and economic fluctuations. In contrast, effective workforce planning today involves a data-driven approach, incorporating scenario planning and creating talent transition pathways to manage workforce needs proactively and reduce the need for broad workforce reductions. The essence of data-driven workforce planning lies in aligning business objectives with workforce dynamics, understanding the impact of market forces, and collaborating across departments to ensure consistency with corporate goals. This approach is vital for optimizing staffing levels, positioning critical skills effectively, and minimizing the impact of layoffs on both employees and the organization. Today, Advanced Workforce Intelligence Software is Needed in HR In the current climate, the role of advanced workforce intelligence software has become increasingly significant. HCMI's SOLVE™️, a workforce analytics tool, exemplifies this trend. SOLVE™️ aids organizations in developing comprehensive workforce plans in as little as 30 days, a process that traditionally could take six months or more. It provides crucial talent analytics, such as cost-per-hire, time to hire, turnover rates, employee engagement, and demographic metrics, which are indispensable for informed decision-making during layoffs. The use of such tools represents a shift towards a more efficient, accurate, and strategic approach in HR, aligning with modern trends of data-driven decision-making. Conclusion In conclusion, the recent layoff trends in the tech industry highlight the need for robust, data-driven workforce planning. Solutions like SOLVE™️ are pivotal in aiding organizations to navigate these challenging times. By offering analytics and insights, SOLVE™️ enables companies to make informed decisions about their workforce, leading to strategic talent management and enhanced organizational resilience. If you are interested in finding out how SOLVE™️ can assist your company in completing its Workforce Plan in 30 days or fewer, feel free to contact us. 📅 Schedule time to discuss here. 💻 Book a demo: https://www.hcmi.co/solve ✉️ Send us an email: info@hcminst.com

In 2024, workforce planning will be an important strategic strategy for companies. It entails integrating human resource skills with long-term company objectives, preparing firms for present and future staffing needs, and identifying talent shortages to forecast labor requirements. This approach is becoming increasingly important in an era typified by skill shortages and rapid market changes. Why Do We Need Workforce Planning? The value of workforce planning cannot be emphasized. It is a strategic method that guarantees a firm has the correct quantity of people, with the right talents, in the right places, and at the right time. Workforce planning is more than just filling current vacancies; it is also about identifying the business's future demands and preparing to satisfy them. Challenges in Workforce Planning The primary issues or challenges in workforce planning are: Rapid Technological Changes: Technology is continually evolving, necessitating new skills and positions. Globalization and remote working: These developments necessitate a more adaptable approach to workforce planning. Demographic Changes: An aging workforce and a diversified skill pool create distinct problems. Data Integration and Analysis: Analyzing large amounts of data is critical for good planning. Tackling the Challenges in Today's Workforce Planning To address these challenges: Firms should adopt predictive analytics to accurately forecast personnel demands. Invest in Talent Development: Prioritize upskilling and reskilling to close skill shortages. Implement Flexible Strategies: Be ready to react to shifting worker dynamics. Implement Effective Tools: To increase productivity, use workforce planning software. The Right Tool for Your Organization's Workforce Planning SOLVE™️ Workforce Planning from HCMI is a game changer in the field. It provides a streamlined and data-driven approach to workforce planning. Compared to traditional approaches that might take up to six months, SOLVE™️ allows companies to establish a thorough workforce plan in only 30 days or less. SOLVE™️ Workforce Planning is great for: Quick and Accurate Data Analysis: Provides insight into present workforce skills and future requirements. Effective Talent Management: Assistance in identifying high-potential personnel and succession planning. Strategic Decision Making: Enabling educated decisions based on reliable facts. The Benefits of Strategic Workforce Planning Organizations that efficiently execute workforce planning receive a variety of benefits: Cost-effectiveness: Reducing overstaffing or understaffing while optimizing labor costs. Increased Productivity: Matching personnel talents to company needs. Enhanced Staff Engagement: Investing in staff growth and development. Future-Readiness: Planning for emerging jobs and technological improvements. Conclusion In conclusion, workforce planning in 2024 is a dynamic and necessary process. It necessitates a deliberate strategy, the effective use of technology, and a dedication to ongoing learning and adaptation. HCMI's SOLVE™️ helps firms manage and succeed in today's workforce landscape, preparing them for the future. Talk to us if you'd like to explore SOLVE™️ deeper - and have your Workforce Plan ready in 30 days or less! Schedule time to discuss here. Book a demo: https://www.hcmi.co/solve Send us an email: info@hcminst.com

Because of the advent of the digital age, corporations have rethought their approach to recruitment. In this day and age of rapid technological innovation, traditional techniques of recruitment are being replaced with ways that are more data-driven and efficient. Recruiting in the digital age is about harnessing technology to locate, attract, and engage the right personnel. This shift in recruitment is referred to as the digital shift within recruitment. In order to streamline the recruiting process and make it more efficient and effective, this change requires the utilization of online platforms, social media, and innovative software tools. The Application of Technology to Achieve Improved Results in the Employee Recruitment Process Data-driven candidate search refers to the process of utilizing data to ascertain whether candidates possess the highest level of qualifications. The use of algorithms enables automated screening processes to filter applications in a timely and accurate manner. This is made possible by the employment of algorithms. The term "Enhanced Candidate Engagement" refers to the utilization of digital platforms to sustain candidate involvement throughout the length of the recruitment process. The implementation of video conferencing and digital onboarding technologies to achieve flexibility and efficiency in distant interviewing and onboarding programs. How SOLVE™️ Contributes to the Modern Recruitment Process SOLVE™️, with its modules for Recruitment and Workforce Value (HCF$), offers a comprehensive platform for data-driven recruitment. SOLVE™️ helps firms maximize their recruiting strategy in the digital era by providing insights about Quality of Hire, Hire Rate vs. Quality of Hire Score, Hiring Forecast, Talent Management, and KPIs. This can be accomplished through the use of the platform. Example 1: SOLVE™️ Recruitment Module (Recruiting Efficiency & Effectiveness) Example 2: SOLVE™️ Workforce Value (HCF$) Module (Talent Management) Both these SOLVE™️ modules can expedite applicant sourcing and screening and can result in a reduction in the amount of time it takes to acquire new employees – with a considerable improvement in the quality of hiring. The Future of Recruitment It is anticipated that artificial intelligence (AI), machine learning, and predictive analytics will be more integrated into the recruitment process in the future of recruitment. It will be vital to utilize tools such as SOLVE™️ to harness these technologies in order to not only discover the appropriate personnel but also to anticipate future workforce requirements. Overall, recruitment in the digital era is an exciting new frontier that is brimming with prospects for creativity and efficiency. It is possible for firms to make better hiring decisions, which ultimately results in a more robust workforce when they bring about a revolution in their recruitment procedures. By using SOLVE™️, you can completely revamp your recruitment process. Become familiar with the ways in which our cutting-edge modules can assist in streamlining your digital recruitment efforts. Make arrangements to speak with us at a convenient time by clicking here. Send us an email: info@hcminst.com

In today's fast-paced and constantly-changing corporate environment, effective workforce management is essential. It's an art that strikes a balance between a variety of factors, such as guaranteeing worker productivity and contentment and streamlining employee schedules. The main ideas and tactics of efficient workforce management are examined in this article, which can help any business succeed. Having the appropriate people in the right places at the right times, with the correct talents, is the fundamental component of workforce management. It entails a thorough strategy for efficiently managing human resources to satisfy the expectations of the company both now and in the future, all the while maintaining employee well-being. Crucial Techniques for Efficient Workforce Management Infographic: 5 Critical Techniques for Efficient Workforce Management The Function of Technology in Managing Workforce Strategic planning and human-centered methods continue to be at the core of successful workforce management, even though technology plays a supporting role. While cutting-edge technologies and platforms like SOLVE™️ can help simplify procedures and offer insightful data, successful adoption depends on the human component. Problems and Solutions in Workforce Management Managing typical issues like employee burnout, overstaffing, and understaffing calls for a systematic strategy. Implementing wellness initiatives, cross-training staff, and flexible schedules are some of the solutions. In the coming years, flexibility, employee well-being, and adaptability to shifting business situations will probably become more and more important in workforce management. It will be crucial to use both creative methods and employee-centered strategies. Conclusion The secret to proficient workforce management is finding the ideal balance between the demands of the company and those of the workers. Organizations may develop a productive, content, and adaptable workforce by emphasizing employee engagement, performance management, and strategic staffing procedures. Discover how SOLVE™️ can revolutionize your business. Schedule a time with us here and let us know how we can help your organization manage the workforce better. Or, drop us an email at: info@hcminst.com

Within the context of a world that is becoming more linked and diverse, the idea of embracing diversity in the workplace has become of the utmost importance. Nevertheless, diversity is not merely a phrase or a compliance checkbox; it is much more than that. This is a powerful strategy that has the potential to not only promote innovation but also attract top people and create a work atmosphere that is more dynamic and inclusive. This article explores the reasons why diversity is necessary in the modern-day corporate world, as well as how it can be effectively applied. Having an Understanding of the Scope of Diversity Diversity encompasses more than just the conventional categories of race, gender, and ethnicity. It comprises a wide range of qualities, such as age, sexual orientation, religious beliefs, physical abilities, educational backgrounds, and life experiences, among other things. An acknowledgment and appreciation of the distinctive points of view that each individual brings to the table is required in order to fully embrace the breadth of diversity. The Business Case for Diversity Increased Creativity and Innovation: Diverse teams bring a variety of perspectives to the table, which ultimately results in more creative and inventive solutions. The ability to better understand and connect with a larger variety of consumers and markets is one of the benefits that comes with having a varied team. Improved Decision-Making Capabilities: Groups that have individuals from a variety of backgrounds are less likely to engage in groupthink and can make decisions that are more well-rounded and efficient. Companies that are well-known for their diversity are more appealing to top talent who are looking for inclusive work environments. This is true for both attracting and retaining potential employees. Despite the fact that the advantages are obvious, several obstacles must be overcome to achieve full variety. A few examples of these are the existence of unconscious bias in the recruiting and promotion processes, the absence of diversity in positions of authority, and the requirement for inclusive policies and practices that go beyond mere tokenism. Strategies to Embrace Diversity Comprehensive Diversity Policies: Create policies and goals that are crystal clear on diversity and inclusion. Employees should be educated about the significance of diversity and how to avoid unconscious prejudices through the implementation of training and awareness programs. Using diverse hiring panels and expanding recruitment efforts to reach a wider pool of candidates is one of the inclusive recruitment practices that should be implemented. Fostering an atmosphere in which all employees feel valued and included, as well as one in which varied opinions are sought out and acknowledged, is an essential step in the process of creating an inclusive culture. The Responsibilities of Leadership in the Process of Diversity Promotion The commitment of leadership is essential for the success of diversity initiatives. Not only should leaders support diversity initiatives, but they should also take part in those initiatives themselves. They should set an example for others to follow by fostering an inclusive culture and making certain that diversity objectives are incorporated into the plan of action for the company. Measuring the Impact of Diversity Initiatives In order to gain an understanding of the efficacy of diversity initiatives, organizations need to monitor key metrics such as the diversity of the workforce, the levels of employee satisfaction and engagement, the retention rates of diverse employees, and the impact on the performance of the business. Diversity and Mobility Modules in SOLVE™️ In the context of diversity promotion, the function of SOLVE™️ is to assist organizations in monitoring and evaluating diversity indicators. This is accomplished through the utilization of its Mobility and Diversity modules. Both the identification of the locations that require diversity initiatives and the evaluation of the effectiveness of these activities are made easier with the assistance of this strategy that is driven by data. Example 1: SOLVE™️ Diversity Module (Diversity Distribution) Example 2: SOLVE™️ Mobility module Conclusion In conclusion, embracing diversity is not merely a term; rather, it is an essential component of a corporate plan that is both successful and forward-thinking. Businesses have the opportunity to reap the numerous benefits that come with having a diverse and inclusive workplace if they actively promote and implement diversity in all sectors of the organization. Gain an understanding of how SOLVE™️ can help your company in utilizing the power that diversity possesses. For additional information regarding our Diversity module and how it might improve your diversity initiatives, please click here. Or, send us an email at this address: info@hcminst.com

This audiogram/clip is taken from Salary.com's HR Data Labs Podcast (“Potential Changes to the SEC’s HCM Metric Disclosure Rules”). HCMI's CEO Jeff Higgins, a former CFO, challenges the traditional reluctance of companies to disclose detailed human capital metrics. Jeff critically examines the outdated mindset that considers such information as a competitive secret, arguing that in the era of the Internet, transparency is inevitable – making Human Capital Management metric disclosure an advantage. Highlights: How platforms like Glassdoor and LinkedIn already provide glimpses into company dynamics The opportunity companies have to own their narrative by openly discussing aspects like turnover rates and pay practices Through candid disclosure, companies can positively shape their story, turning potential negatives, like high attrition, into strengths by showcasing their role as talent cultivators. Get in touch with us here to know how SOLVE™️ can help your company prepare for the new and upcoming requirement by the SEC on disclosing additional human capital management metrics. Or, email us at: info@hcminst.com

This audiogram/clip is taken from Salary.com's HR Data Labs Podcast (“Potential Changes to the SEC’s HCM Metric Disclosure Rules”). In a recent podcast with Rebecca Gorman from Salary.com and our CEO, Jeff Higgins, we engaged in a thought-provoking discussion about the evolving role of Human Capital Management (HCM) metrics in public companies. Highlights: The inadequate response of companies to the SEC’s 2020 rule on HCM metric disclosure - emphasizing the need for more transparency, particularly in areas like turnover, labor cost, and diversity. How human capital management metrics are not just compliance requirements but crucial tools for mitigating risks and providing insights into effective human capital management. The changing business landscape where the value creation is increasingly dependent on human capital, underscoring the need for companies to adapt their reporting and risk management strategies. Get in touch with us here to know how SOLVE™️ can help your company prepare for the new and upcoming requirement by the SEC on disclosing additional human capital management metrics. Or, email us at: info@hcminst.com

Competitive advantage can come from your talent and cost structure. When selecting a site location for global expansion it represents an opportunity to positively impact both of these key strategic opportunities. By leveraging talent analytics and applying advanced analytics, data-driven insights, and strategic workforce planning, companies can gain a competitive edge in the decisions about where to locate and understand these critical moments in organizational development. This webinar will help explain global site selection and reveal the role that can be played by key inputs, such as talent intelligence, exploring how it enables organizations to navigate this evolving landscape and make informed decisions to attract, hire, and retain the right people in the right roles, all while optimizing costs. Join James Bowtell and Stephen Weltz on this webinar and they will explain how organizations can approach site location decisions and how it can empower your organizations in navigating. What will you learn from this webinar? Gain insights about how site location decisions can be made Strategies to identify and attract the right talent with the right skills, in the right locations, and at the right costs Real-world case study: Explore a real-life example of how talent intelligence helped a client achieve $5 million in cost savings, examining the methodology, tools, and techniques employed to achieve successful outcomes By the end of the webinar, participants will have a solid understanding of talent intelligence's value, practical strategies for cost-effective talent acquisition, and the ability to apply data-driven insights to their own hiring processes to maximize cost savings. Webinar Video About the Presenter Stephen Weltz Workforce Analytics Manager, HCMI As a workforce analytics consultant at HCMI, Stephen specializes in synthesizing, analyzing and visualizing seemingly disparate data sets to uncover key workforce insights that link to business results. Stephen combines experience in workforce analytics applied statistical analysis, and organizational research to help companies make better data-driven decisions. Prior to working at HCMI, Stephen was an organizational consultant for one of the largest hospitals in California, helping to research leadership and team-level best practices to inform future workforce development. He has since worked with companies in the Financial, Biotechnology, Oil and Gas Professional Services, and Non-Profit sectors. Stephen holds an M.A. in Organizational Behavior and Evaluation from Claremont Graduate University. James Bowtell MSI Global Talent Solutions For 25yrs+ James has advised organizations on their Human Capital strategy, process, and technology. He has worked with the world's most respected Fortune 100 companies helping them achieve their business strategy by helping to understand and support the transformation of their people programs. James has also led M&A work such as multiple spinoffs, mergers, and broader organizational transformation.

A new study from RedThread Research acknowledges SOLVE™ as a leading People Analytics platform in both accumulated and guiding analytics. LOS ANGELES, May 2022 – SOLVE™, the workforce intelligence platform, is proud to be recognized by RedThread Research in its People Analytics Technology report as a global leader in workforce analytics and planning in both the accumulated and guiding analytics categories. SOLVE™ is unique in its ability to quantify and predict the business impact of workforce investments by integrating and applying over 1,000 machine learning algorithms to big data from disparate HR, financial, and business operations systems. The platform includes nine modules with benchmark data covering areas such as diversity, talent supply & demand, performance, mobility, engagement, leadership, recruiting, and retention. The solution also auto-creates an ISO30414-compliant Human Capital Disclosure Statement. RedThread evaluated SOLVE™ highly in the Accumulated Analytics and Guiding Analytics categories. Accumulated Analytics: Vendors in this quadrant rank high in their ability to provide users with a longitudinal view of data with insights that enable strategic talent decisions. Data tends to be aggregated and integrated from several sources including external data. The insights from these vendors can be used by teams frequently to track specific areas of interest. Guiding Analytics: This quadrant includes solutions that integrate data from several different sources and are used very frequently to continuously. The combination of these elements means that users can frequently access deep and broad information that can guide strategic organizational decisions, operational decisions, and individuals’ decisions about themselves or their team and give insights that can change the trajectory quickly. Methodology The research was based on approximately a year’s worth of studying the market by reviewing publicly available information, polling practitioners and vendors, reviewing more than 50 people analytics articles, surveying 37 vendors and then conducting briefings and demos with 30 of them, and interviewing more than 20 practitioners and vendor customers. About SOLVE™ SOLVE™ is an advanced business analytics platform for human resource management that drives competitive advantage through higher workforce productivity, smarter workforce spending, and better talent management. SOLVE™ applies over 1,000 machine learning algorithms and natural language processing to integrated sets of HR, financial, and operational data to quantify the value of the workforce, link people investments to business outcomes, and identify key drivers of productivity, costs, turnover, retention, engagement, leadership, and performance to improve talent management. www.hcmi.co/solve

“90% of C-suite leaders thought that HR had made a meaningful contribution during the pandemic, but 85% of them said they didn’t expect that to continue after the pandemic was finished. - Stacia Garr, Co-Founder and Principal Analyst, RedThread Research” The good news is, HR can turn this around by anchoring on HR Analytics, where you can drive business outcomes in the millions. Watch the webinar video to explore how HR analytics and Human Capital Disclosure and Reporting are critical to demonstrate a company’s commitment to its employees and at the same time, help drive company goals and performance. The 60-minute webinar will focus on: - Why Human Capital is Critical to ESG and Corporate Success The State of Human Capital Disclosure & Reporting in the USA and Japan Leveraging Human Capital Disclosure & Reporting for ESG and Corporate Goals Webinar Video About the Presenter Jeff Higgins CEO & Founder, HCMI Jeff is a global thought leader with more than 25 years of combined workforce planning, analytics, and finance experience supporting Fortune™ 500 companies. Jeff has helped organizations around the world quantify the ROI of workforce decisions and realize cost-saving opportunities of up to $1.0 billion USD. Jeff is both a former senior HR executive and former CFO, and a regular speaker at HR events. Previously, Mr. Higgins worked in finance at Johnson & Johnson, Colgate Palmolive, Klune Industries and was a senior HR leader at Countrywide Financial, IndyMac Bank, and Inform, a leading analytics software co. Jeff is on the SHRM Global Standards Committee on human capital, the Center for Talent Reporting board, and a founding member of PwC Saratoga Institute advisory council. Shunsuke Hosaka Founder & CEO, HC Produce Inc, Japan Shunsuke Hosaka is the founder and CEO of HC Produce Inc. Japan. His client work involves helping organizations to develop future leaders and succession planning as well as introducing ISO 30414 for their human capital reporting. He also serves as the secretariat for ISO/TC260 Mirror Committee in Japan since 2023. Before establishing HC Produce, Shunsuke led the HR Practice Group for ten years at Dream Incubator Inc., a Japanese management consulting firm, and helped its clients manage their human capital.

In today's rapidly changing business landscape, companies are looking for ways to gain a competitive edge, and HR is no exception. To stay ahead of the curve, HR leaders need to harness the power of data, analytics, and workforce planning. In this video, we'll show you how to get yourself and HR in the driver's seat with these critical tools. In this #HCMIConnects webinar, our CEO, Jeff Higgins, and guest speaker who is a Founder, People Analytics Specialization People Data Enthusiast, Heather Whiteman discussed How to Get Yourself And HR In The Driver's Seat With Data, Analytics, And Workforce Planning. For more information, visit www.hcmi.co Follow our LinkedIn Page #HCMI#HumanCapitalManagementInstitute#WorkforceAnalytics#HumanCapitalManagement Webinar Video About the Presenter Jeff Higgins CEO & Founder, HCMI Jeff is a global thought leader with more than 25 years of combined workforce planning, analytics, and finance experience supporting Fortune™ 500 companies. Jeff has helped organizations around the world quantify the ROI of workforce decisions and realize cost-saving opportunities of up to $1.0 billion USD. Jeff is both a former senior HR executive and former CFO, and a regular speaker at HR events. Previously, Mr. Higgins worked in finance at Johnson & Johnson, Colgate Palmolive, Klune Industries and was a senior HR leader at Countrywide Financial, IndyMac Bank, and Inform, a leading analytics software co. Jeff is on the SHRM Global Standards Committee on human capital, the Center for Talent Reporting board, and a founding member of PwC Saratoga Institute advisory council. Heather Whiteman Founder, People Analytics Specialization People Data Enthusiast Data Design & Delivery for a More Just World, Asst. Teaching Professor University of Washington, School. People Analytics Lecturer – UC Berkeley Haas International Organization for Standardization (ISO) US TC260 Representative. Fulbright Scholar– Guatemala (‘22-’24). Program Creator – UFM People Analytics Specialization. Former Vice President of People Strategy, Analytics, Digital Learning & HR Operations – GE Digital

The COVID-19 pandemic impacted the future of employment that we could not imagine previously and pushed HR leaders from all around the globe to re-evaluate the strategic goals and plans of their organizations. In this #HCMIConnects webinar, our CEO, Jeff Higgins, discussed about the Essential Post-Pandemic HR Metrics and elaborated more on the key metrics that HR teams should focus on. For more information, visit www.hcmi.co or follow our LinkedIn Page Webinar Video About the Presenter Jeff Higgins CEO & Founder, HCMI Jeff is a global thought leader with more than 25 years of combined workforce planning, analytics, and finance experience supporting Fortune™ 500 companies. Jeff has helped organizations around the world quantify the ROI of workforce decisions and realize cost-saving opportunities of up to $1.0 billion USD. Jeff is both a former senior HR executive and former CFO, and a regular speaker at HR events. Previously, Mr. Higgins worked in finance at Johnson & Johnson, Colgate Palmolive, Klune Industries and was a senior HR leader at Countrywide Financial, IndyMac Bank, and Inform, a leading analytics software co. Jeff is on the SHRM Global Standards Committee on human capital, the Center for Talent Reporting board, and a founding member of PwC Saratoga Institute advisory council.