Vanguard IBP for Workforce Planning helps organizations put in place hiring and workforce development practices that best support long-term strategic business goals. This requires a thorough and data-supported understanding – both quantitative and qualitative – of current and projected talent needs.
Vanguard IBP for Workforce Planning integrates with your HR or payroll system to bring live data into an easy-to-use interface. Behind that, our platform’s statistical engine gives non-technical business users the power of advanced-analytic modeling and simulation.
HR and line-of-business hiring managers can automate what-if scenario planning and analyses, factoring workforce roles, experience, demographics, performance ratings, training, salaries, or whatever criteria are relevant. They can also engage evidence-based approaches to workforce development, applying predictive analytics to various other data to more accurately predict and plan for future needs.
Ultimately, enhanced planning and operations improves outcomes across human capital management initiatives:
- Align finance, HR, and operations on a single platform
- Optimize recruiting, training, and compensation practices and policies
- Increase workforce productivity
- Improve retention, reduce turnover
- Automate forecasting of labor costs and other metrics
- Lower planning and forecasting costs and increase forecast accuracy
- Supports position budgeting