Define Strategic Plans. Identify your Risks. Execute the Business.
In our extensive customer engagements, we have seen opportunities to improve shareholder value up to 41% through better alignment of human capital management practices with core business drivers. While world-class talent management systems help to manage these practices, only SonarVision Enterprise allows you to identify key areas for improvement. In addition, solid quantitative data and metrics allow you demonstrate to your Board of Directors the business's ability to meet strategic objectives.
The answers to the following questions will provide the necessary information to define a dynamic Human Capital strategy, enabling you to carry out business plans while gaining major strategic advantages over your competition.
- Where do I have revenue, profits or projects at risk based on the condition and quality of my workforce?
- Are we going to have the talent required to meet the demands of our business and fulfill the strategic business plan?
- Are we retaining the high performing talent necessary to optimize business operations, customer retention, revenue, earnings and shareholder value?
- Are talent acquisition, retention, development and performance initiatives effective at meeting the demands of the business?
- Do I have the tools to direct, align and optimize my most valuable assets as I do for all other mission critical business components and systems?
SonarVision Workforce Planning and Analytics allows you to direct, align and optimize your human capital in the same way you manage other mission critical business components and systems. It is a predictive decision support system for managing your workforce proactively.
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.