3 Ways Workforce Intelligence Solutions Will Deliver Long-Term Rewards

While companies are powering most of their HR functions through technology, many are yet to implement workforce intelligence solutions to manage human capital. Charlie Lougheed, CEO & co-founder, Axuall, explains three reasons companies leveraging this technology will reap the benefits.

Nearly every function across human resources today is being powered by technology, whether recruitment, payroll, performance management, or employee engagement, just to name a few. Despite these advancements helping to optimize each individual task, most companies have yet to adopt one of the most meaningful solutions that enable leaders to better manage their most important asset, human capital, in a broader way: workforce intelligence.

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New Study: Optimizing Workforce Management Through Data and Analytics

Insights from Leading Health Systems on Workforce Intelligence Solutions

The Health Management Academy (The Academy) has released a new study, sponsored by Axuall, detailing various insights from leading health systems on workforce intelligence solutions. Below are some key findings:

Addressing workforce challenges requires reassessing the existing talent management model: Exacerbated by the COVID-19 pandemic and long-term trends, total employment in the industry has declined, with 30% of LHS reporting reduction in job applications and record levels of provider burnout. Yet misaligned strategic workforce planning, old school hiring methods, and limited internal mobility opportunities impede employee recruitment and retention.

Workforce intelligence powers strategic workforce plans: Strategic workforce planning is growing across healthcare, with 45% of health systems having an active workforce strategy to proactively manage current and future workforce needs. LHS can use insights from workforce intelligence—data and artificial intelligence-powered solutions—to address workforce challenges.

Investing in workforce data and analytics helps LHS move forward: Leveraging myriad of data sources enables leaders to spot trends and analyze performance, shifting workforce planning from an annual endeavor to one that is integrated into the culture and operating model of the organization. New analytics and technology can also streamline data mining and analysis. Evaluating partnerships can bring in the right technology investments to drive workforce intelligence at scale.

The Academy’s take: Addressing workforce challenges is difficult work. Simply put—we can do more than we think. As health systems continue to make progress, workforce intelligence will supply executives with the data they need to back up creative solutions to create a sustainable workforce.

To read the report in full detail, please download it below: