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"You have to build this muscle of prioritization, analyzing what I need to do right now, taking action, analyzing what I can, and taking action.

Identifying the root causes and locations of inequity within the organization is critical, so tracking and analyzing additional factors may help find specific areas for improvement that work in concert with traditional analysis.

By connecting and analyzing data on tasks, skills, roles and talent, workforce intelligence better allows HR and total rewards (TR) leaders to: ;Anticipate shifts;; ;Plan with precision; and,; ;Make smarter decisions that align talent strategies with business goals.; Traditional Talent Planning Versus Workforce Intelligence Many organizations still rely on outdated processes for workforce planning.

Return on Sales Expense This report summarizes the results of a May 2021 WorldatWork survey gathering information about the ways organizations are measuring and analyzing sales costs and productivity.

“As more data is released, the ability to analyze large amounts of data becomes more important.

Benefits According to Dwyer, these benefits include: ;Greater efficiency and speed by automating tasks such as collecting and analyzing market data, creating salary ranges or administering benefits — freeing up HR and TR professionals to focus on strategic tasks.; ;More accurate, objective, data-driven compensation and benefits decisions supported by the analysis of various data and information sources, reducing human inconsistencies or mistakes.; ;Increased equity — when utilized properly — by extending neutral, data-backed pay offers that help eliminate unconscious biases.; ;Personalized, tailored TR packages that appeal to specific candidates and increase offer acceptance rates and employee satisfaction, created by analyzing data on job role, location, performance and career stage.; ;Up-to-the-minute market competitiveness through constant monitoring of external data.; Dennison also noted the roles AI tools can play in highlighting pay inequities and proposing solutions.

While seasoned advisors can best analyze sophisticated plan tools, any TR pro can collect and analyze standard retirement plan data to create internal benchmarks, identify target segments and take action to increase employee engagement with the plan.

That’s according to a report from the American Opportunity Index , which analyzes the trajectories of 4.72 million employees across 396 of America’s largest companies.

Follow Through Once the analysis is complete, don’t just analyze the results for internal purposes — communicate the results to workers , including the rationale if the results lead to taking from one rewards program to adjust or enhance another.

"It’s a business question … Analyze the cost of labor, appeal of the organization and the workforce you want to recruit and retain."