Workforce analytics allows for the control and management of many aspects of workforce management, as well as the maintenance of employee information from the time of hire through retirement. Workforce analytics also includes HR functions including time and attendance, scheduling and staffing, performance management, and employee benchmarking, as well as other fundamental HR capabilities. By providing self-service web interfaces, workforce analytics aids in the development of HR staff productivity. Workforce analytics is a software and methodology combo that applies statistical models to worker-related data to help businesses improve their human resource management. Work analytics also has the benefit of empowering managers within the organisation, boosting team connectedness, and enhancing organisational values. Some of the primary factors driving the growth of the Workforce Analytics Market are the requirement to gain a competitive advantage and ensuring employee satisfaction and engagement. The analysis examines the workforce analytics market's drivers and restraints, as well as the impact they have on demand during the projection period. In addition, the paper examines worldwide potential in the labour analytics market.
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Key Driving Factors: Potential Growth Is Provided by Performance Monitoring
Monitoring performance data also allows managers to assess how well they engage their staff in terms of setting expectations, clarifying uncertainties, planning improvements, and addressing performance fears. For example, Google employs HR analytics in its personnel management efforts. Their internal data was analysed as part of Project Oxygen to quantify what active managers do. They created an eight-behavior management training programme, which resulted in improved managerial quality.
Driving Factor: Increased workforce internationalisation is expected to boost broad-scale workforce analytics implementation by small and large businesses. Rising demand for improved talent and recruiting architectures is critical to the growth of workforce analytics models, which include employee benefit administration, employee verification, and employment application processing.
This report offers the major market player’s profiles, such as IBM Corporation, Workforce Software, SAP SE, Kronos Inc., TriNet, Visier Inc., Oracle Corporation, Workday, Inc., ADP, LLC., and Cornerstone On-demand.
Based on verticals: Healthcare, Government, IT and Telecom, Banking, Financial Services and Insurances (BFSI), Travel and Hospitality, Retail, Manufacturing, and Others are the market verticals. The Banking, Financial Services, and Insurances (BFSI) segment is expected to grow at the fastest rate throughout the projected period. The factors can be linked to the growing popularity of customised human capital management systems in real-time in the BFSI industry around the world.
The Workforce Analytics Market report has been categorized as below
System Integration Services
By Deployment Type
By Organization Size
Small & Medium-sized Enterprise
Energy & Utilities
Government & Public Sector
Telecom & IT
Travel & Hospitality
Rest of World
Published Date : July-2021