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Numerical Insights publishes articles on a variety of topics including business analytics, data analysis, data visualizations tools, improving business results, supply chain analytics, HR Analytics, strategic workforce planning, and improving profitability. We aim to make our articles informative and educational.
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Turnover is an easy concept to grasp but can be elusive to measure. Three of the most important factors in measuring turnover can be gleaned from the definition. First, we need to determine “what” we are measuring as the baseline or denominator in the equation. Are we measuring employees or employees and contractors? Do we include interns?
Read MoreWithin certain countries, the topic of diversity has become a strategic focus. Whether it's issues like gender pay equity or proper representation within a company's workforce, making good decisions regarding diversity goals and strategies has become key. Of course, by "good decisions," I am referencing the data-driven kind.
Like all new initiatives, there comes a time when a company has invested so much money that it starts to wonder when it will see a return.
Read MoreWhen You Just Can't Win: In HR Analytics, it is important to look ahead and think about unintended consequences. With some people analytics studies, you need to know when you just can't win otherwise you'll waste valuable budget/resources to produce no results. I'll provide examples.
Read MoreFor those that attempt completion of workforce plans, the scenarios for these plans are almost always scenarios of growth. But the reality is, it is highly likely that a company will find itself in a reduction scenario at some point in time. It is these reduction scenarios where planning becomes crucial.
Read MoreWith gender and ethnic diversity being such sensitive topics in recent years, it is the responsibility of both Human Resources, Legal teams and math experts to proactively provide statistical back-up to certain workforce decisions. One important application of math to workforce decisions is in avoiding adverse impact.
Read MoreData breaches are in the news every day, especially the large-scale ones that occur at retailers and financial institutions. But did you know that most data breaches are the result of employees accidentally exposing sensitive data? These unintentional actions can have substantial consequences.
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