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ChinaHRP.com PLEASANTON, CA, December 16, 2008 -- Organizations are now closely examining the methods to fully optimize the value of workforces by using analytics and information for which greater insight to reach business-related goals and objectives can be achieved. But what precisely are these analytics and how do companies know where to develop the competencies and best practices when it comes to the business intelligence required to develop and support them?
Ventana Research has drawn on years of research, benchmarking thousands of organizations to create an online best practices education portal. The portal provides education on establishing workforce analytics and making organizations more intelligence about their most valuable asset - people. Ventana Research has found a majority of companies underutilize the workforce and do not know where to place further investments into maximizing the value of their talent through performance reviews, compensation, incentives, learning and succession planning. As well organizations are not spending the time to determine what needs to be done to improve workforce effectiveness and ensure that operational management and manager have the information required to maximize their staff's weekly performance. The "Workforce Analytics Best Practices Research and Education Portal" is the second in the series of online education portals drawing on the extensive workforce and performance management research Ventana Research has conducted.
The issue that many organizations face is a lack of consolidated information about the workforce and how to apply analytics that can determine how to utilize best performers in the organization through succession, coach and train others for maximizing their contributions. Many in business are not aware of how better use of information and analytics technology can help them address issues and improve performance, while information technology professionals (IT) are not able to grasp or communicate how to address these issues and needs. The workforce analytics best practices research and education brings forward specific research and insight from experience. It is especially important for human resource organizations because they rely heavily on disparate applications to manage their HR processes and scattered sets of spreadsheets for insights. Yet, too often it is too difficult for them to obtain the analytics and insights they require.
Human resource departments can take specific and decisive steps to advance their use of information and analytics to improve the understanding of the workforce for performing analytics and planning on people across business. They can make better use of the information they have in their HRMS, talent management systems, ERP and other enterprise systems. "For years there has been discussion about placing more intelligence into organization from workforce analytics to help HR, finance and operations utilize the largest asset and investment of every organization," comments Mark Smith, CEO &EVP of Research at Ventana Research. "Unfortunately this has been left by the wayside as organizations do not have the skills and knowledge to establish workforce analytics in their organization until now. Over the years our research has repeatedly shown that misuse of information through technologies like spreadsheets and methods that do not provide the analytics and metrics required by finance or operations leading to issues in making ineffective decisions about the workforce." The Portal for Best Practices provides HR, finance and operations professionals the benefit of years of benchmarking research to help them to operate more efficiently and increase the value they bring to their corporation.
Ventana Research is making the best practices education portal available through its community to help bring deeper industry and technology insight to its community members. The best practices are available online - http://www.ventanaresearch.com/bpp/wbibpp.aspx?id=2522.The best practices education resource portal, sponsored by business intelligence and performance management provider Cognos, an IBM company ( www.cognos.com) is based on benchmark research and decades of experience from organizations across all major industries. Those interested in learning more about the value of workforce focused benchmark research can contact clientservices@ventanaresearch.com.
About Ventana Research
Ventana Research is the leading benchmark research and advisory services firm. We provide expert guidance to help organizations manage and optimize performance - to become not only more efficient but more effective. Our unparalleled insights and best practices guidance are based on our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions worldwide. The combination we offer of benchmark research, rigorous market coverage and in-depth knowledge of hundreds of technology providers means we can deliver business and technology education and expertise to our clients where and when needed. Ventana Research provides the most comprehensive analyst coverage in the industry; more than 2.5 million business and IT professionals through our community of 85,000 professionals and network of media and association partners around the world benefit from Ventana Research's insights. Ventana Research focuses on business and technology trends and best practices that maximize organizations' potential to perform while reducing the time, cost and risk and still achieve optimal outcomes. To learn how Ventana Research advances the maturity of organizations use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
