Connect HR to the Business. Become a Profit Center Measurably and Dynamically.
"Unfortunately, the credibility and influence of HR executives have declined over the past decade, and the function has failed to develop many critical capabilities. According to our research, 58 percent of all line managers believe that the HR function lacks the wherewithal to develop talent strategies in line with a company's business objectives, though only 25 percent of the HR professionals in our interviews agreed." –McKinsey Quarterly, Making Talent a Strategic Priority
In organizations where Human Resources struggles to be heard by the C-Suite, SonarVision correlates common employee data to bottom-line business strategy, resulting in quantitative reporting to help build support for new strategic programs and demonstrate the real bottom line value and impact of the workforce.
Surveys reveal that business leaders are frustrated with their outlays in talent related technologies because they haven't resulted in the business alignment practices they expected. The challenge to provide solid statistical data for the workforce as it relates to the organization's ability to meet earnings expectations remains.
SonarVision Workforce Planning and Analytics provides a solution by enabling HR to:
- Show bottom-line value of HR functions to establish relevance with the C-suite
- Establish the strategic merit of your HR programs
- Align resources systematically with the strategic business plan
- Optimize investments in talent software technologies to quantifiably increase performance and drive revenue and shareholder value
- Gain executive advocacy to obtain the funding needed to deliver mandated HR services
- Transform a purely reactive function to a predictive, data-driven, proactive department
- Utilize dashboard views of meaningful human capital metrics in digestible and actionable formats so as to effectively direct HR initiatives, assess effectiveness of HR talent initiatives and drive measureable ROI
- Implement targeted best practice initiatives for talent acquisition, management, development, training, optimization, retention and performance
Existing talent management systems for recruiting, development and performance management are excellent tools, but they are missing the critical component that measurably links the employee data to the strategic business plan. They are not unified for delivery of comprehensive solutions to the business and their results on the business cannot be measured, monitored or improved. OrcaEyes uses the information nested in those solutions to help you optimize the talent and talent strategy within your organization.
In an engagement in the healthcare industry, OrcaEyes used SonarVision to identify opportunities for operational improvements. In this analysis, OrcaEyes discovered potential workforce shortages actual supply versus demand for the ensuing 12 months in positions directly tied to revenue. These shortages were putting more than $1.8 billion of billable revenue at risk. To compound the problem, a 34% annual turnover rate of these positions was adding additional recruiting and training costs. Additionally, margins were reduced by as much as 21% due to the increased use of high-cost, prime contractors and an already funded capital expansion projects was indefinitely delayed resulting from current shortages in existing positions.
By proactively creating talent supply pipeline based on quarterly business demand forecasts for one-year, and a implementing manager training and incentives program, time-to-fill was reduced by 40% and first-year new hire turnover was reduced by 14%. The result was an increase of margins on billable services by 8.2%.
OrcaEyes implemented SonarVision Enterprise to help a transportation company uncover areas where labor spend could be optimized. In the process, SonarVision revealed premium overtime pay (50% factor) to truck drivers accounted for 11% of earnings. Workforce Analytics showed more than 38% of these overtime costs were caused by high turnover of top performers, excessive supply/demand gaps and lengthy time-to-fill periods.
Action plans were developed to regain 70% of the lost 38% overtime pay to be reapplied to the bottom-line earnings. The result: Projected increase in earnings-per-share by 12 cents in the first year.
A national Insurance company hired OrcaEyes to identify areas where significant operational efficiency improvements were possible. OrcaEyes flagship workforce planning and analytics software, SonarVision, found correlations between scores on an employee engagement survey and insurance appraiser performance. It was quickly discovered that underwriters with engagement scores below 50% wrote 62% fewer adjustments than those underwriters in the 77% plus engagement range. Also, the group with scores below 50% had a 55% higher rate of re-adjustments (“re-do’s”).
OrcaEyes consultants helped the agency develop a new employee branding program to help improve engagement levels. The result: Higher engagement scores translated into 3.1% increase in estimates written and 5.7% decrease in re-do’s. These results were achieved over the first nine months of the new employee branding program.
OrcaEyes was contracted by a company with a large manufacturing division to look for ways the company could improve operations. SonarVision correlated common workforce information to key business outcomes and discovered that when operator class employees worked three weeks in a row with an average of 12.5 hours or more of overtime per week, accidents caused by human error increased by 106%. Unplanned downtime cost the global firm more than $2.2 billion annually, and more than 42% of unplanned downtime was caused by human error.
SonarVision measured position gaps and operator leave, predicting trends which alerted management before the operator gaps became problematic. The company used the alerts to prompt the hiring of temporary labor before work levels exceeded error-causing thresholds. Pay rates were raised by 8% to reduce turnover and safety training was conducted for operators and skilled trades.
SonarVision supply-demand forecasting and alerts now provide management with up to two months advance notice before human capital problems result in business problems. The end result was a 51% reduction in lost revenue due to human error accidents.
SonarVision is unprecedented in answering your workforce and labor related questions. This workforce planning and analytics system equips leadership with the tools and information to plan, direct, manage and optimize nearly all other mission critical systems, projects, programs and operations.