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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with business goals.; Traditional Talent Planning Versus Workforce Intelligence Many organizations still rely on outdated processes for workforce planning.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.

In a post on its website, law firm Foley & Lardner LLP stated such action plans should include: Determining how disclosure requirements will be implemented in job postings and advertisements;;Considering implementation of an internal pay audit, which will likely allow employers to better understand potential pay discrepancies and alert them to any suggestion of disparate impact; and;Training those responsible for drafting and/or posting job advertisements, including third-party vendors.; Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: Employee Compensation;Finance and Budgeting;

Moreover, the survey found 56% of employers have or plan to evaluate and optimize existing mental health vendor programs next year.

Dell also instituted early, measurable goals for vendors that rely on data-driven assessments to drive accountability and developed a cardiometabolic program designed to manage growing chronic health concerns.

Most employers will use a third-party specialty vendor or integrate the program with their existing pre-tax third-party administrator (such as an FSA or HSA provider).

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.