Your company’s employee data is a goldmine of information that can help you make more effective business decisions. Are you wondering how you can leverage the capabilities of that data? We have the answer and will show you how to convert those numbers into valuable insights that can revolutionize your business strategy.
The solution is our powerful and easy-to-use Predictive People Analytics tool.
It has the ability to establish links between critical events and evolving corporate metrics to help you predict employee trends, optimize talent and boost your bottom line.
This is an eye-opening webinar that will transform the way you think about HR data.
In this session, we’ll show you how to:
- Compare position-specific benchmark data to identify areas for growth
- Configure dashboard views for easy interpretation of data – no expertise required
- Predict optimal ways to increase business profitability
- Turn raw numbers into actionable insights
- Build a resilient, adaptable workforce ready for any challenge
Don’t let your valuable HR data go to waste! It can be your secret weapon if you learn how to transform it.
This webinar was recorded live on Wednesday, October 30, 2024
Session Transcript
Kaleigh Johnson (00:05):
Good afternoon, everyone. My name is Kaleigh Johnson and I am the Training and Development Manager here at Commonwealth Payroll & HR. Thank you so much for joining us today. Our webinar is Unlocking the Power of Your Data with Predictive People Analytics. So, today we’re going to talk about how Predictive People Analytics can help you visualize workforce metrics and therefore better plan for employment changes. Today, I am joined by Amber Vernieuw and Christian Hamel. They are both here representing iSolved and we’re very excited to spend the next hour with you and hopefully get you some really great information. So, with that, I am going to pass it over to Amber so she can review our agenda.
Amber Vernieuw (00:51):
Perfect. Yes. Thank you guys all so much for joining our webinar today. Our agenda for the day is you’ll meet your presenters, we’re going to go through a really nice overview of everything Predictive People Analytics can do for you, some of the benefits and features, and then we’re going to go through a really nice demo of the solution, and then at the very end, we’ll have some time for some Q&A. So, if you have some questions as we go through, whether it’s the overview or even just the demo, please make sure you put those in the chat so that at the very end of the demonstration we can make sure we get to all of your questions that you guys have on the Predictive People Analytics solution. All right, so like Kaleigh said, you have myself, my name is Amber. I’m an Account Manager over here at iSolved, and then we also have Christian on the phone with us today who is one of our Solutions Consultants, or I like to call them our know-all, do-alls of iSolved. So, very happy to have him join us today.
(01:50):
All right. So, we’re just going to kind of go through a really nice overview of the Predictive People analytics, some benefits and features, what it can actually do for you. So, a couple of statistics that we really like to share with you is 40% of leaders in the year of 2025 and even this year in 2024 are actually looking to invest in an analytics tool, and we’re going to go through exactly what the analytics tool can do for you, why a lot of these leaders are actually looking for an analytics tool to really help with some retention with your employees, save time, help turnover, and just overall make sure that you’re keeping that top talent within your company. Also, a couple of other things we just really like to share with you is 57% of people report that an analytics tool produced either some sort of profits or savings for their organization. So, if you think about that, that’s actually a really big percent of companies that have actually used an analytics tool much like ours and having that cost savings within your organization.
(02:58):
All right. Now, just a couple of key strategic features that we like to talk about with our Predictive People Analytics tool. A big thing is it really increases engagement and productivity, and when I say that, it’s because you can look at everything with real time. You can see actionable insight to really stay ahead of your workforce needs, whether that’s maybe something as far as if we do a hybrid role where employees come into the office a couple days a week. They’re able to work remote a couple days a week. What does that look like for my workforce? Is it something that they really are looking for, something that they really need? They’ll also really be able to easily compare some benchmarks on salary, their tenure, and even just turnover and see where you have some areas for some need, maybe have some areas for some growth. And then also being able to really enhance your decision making much as I gave you an example of.
(03:57):
Some key business metrics with people, are there certain things that I can change within our workforce, whether it’s employee… What’s the word I’m looking for? Geez. The hybrid model, working remote, even just how do I engage my employees? If we do some fun little things with our employees, what is that going to do? How’s it going to really make our employees happy? Is it going to help with turnover? Where are those areas of growth that we can really help outperform to keep those tenured employees on staff? All right. So, you guys will see a full demonstration, but here’s a really a nice dashboard overview of what the Predictive People looks like and then some key features that you’ll be able to utilize this dashboard for. So, you’re going to be able to see that you can really configure some key people metrics. It’s going to give you a really nice intuitive visual dashboard. You’re also going to be able to configure these dashboards.
(04:58):
So, if you want to see things more in like a pie graph chart and however it is that it’s easiest for you, you’ll really be able to configure what this dashboard looks like for you to be able to gain that insight all in one centralized place for you and then for your supervisors and your managers as well. Then also, you’re going to be able to use the predictive modeling to pilot some of those scenarios and then decide some actions that are best suited for your business and then also again for your employees. So, you’ll be able to see here, we did a couple of examples in here as far as some ethnicity, just a couple of different features that you’re going to be able to really use that predictive modeling.
(05:41):
When we say predictive modeling, what the Predictive People Analytics does is it really takes things to where you can predict, okay, I need some guidance on if I change certain things, if I do certain things, maybe I have some biases, what is my outcome? What are my results that I’m looking for, and really use that predictive modeling to be able to do that. Some other key features here is you can leverage some position-specific salaries to really see if you have some turnover that maybe you are not aware of that you can really use that predictive piece for to say, where do I have some salary biases? Do I need to maybe make some salary increases? Where am I lacking? Then that way you can also make improvements where you feel it’s necessary to make those improvements, to really keep those tenured employees or even just those valued employees that you really don’t necessarily want to see leave your company. You want to keep them there.
(06:40):
So, using that benchmark insight data that we do have with inside the Predictive People Analytics is very beneficial if you’re looking as far as pay and making sure that you’re paying your employees. The nice thing about the benchmark insights is that it also utilizes, what are other companies inside your area and same exact roles, what are they paying? Are you guys behind on the eight-ball there? Do you need to up those salaries? So, being able to utilize that, the benchmark insights within the Predictive People Analytics is very beneficial for you. All right. A couple of benefits as far as the Predictive People Analytics is it, again, really helps you identify and address small issues before they become maybe large problems. Whether it’s something, again, as big as a salary, those are always hot key topics with employees and then just see how your company got to where it is.
(07:38):
Is there things that you can do to be more productive within the future with those employees and using that predictive piece? Obtaining an overview of trends and maybe an understanding why they’re happening, and then also just the ability to investigate the future and be able to predict some of those turnovers and then also be able to reduce those turnovers and maybe increase some profitability with happy employees and being able to retain those happy employees. Happy employees always stay and retention is a big thing. It takes a lot of time, and effort, and money to train new employees and so we always like to keep those ones that we want to keep on staff.
(08:16):
Then just some use case samples that we like to go through. Again, staying competitive, being able to really look at the industry and the position-specific salaries, like I said before, making sure that you really understand, where am I at? Am I competitive? Am I maybe over competitive? Then also too, being able to use that predictive modeling and the capabilities within the Predictive People Analytics Model to really improve that retention. All right. At this point in time, I’m going to turn the time over to Christian. He is going to go through a really nice demonstration of everything that the Predictive People Analytics can do for you, and then also please just keep in mind if you do have questions, put those in the chat as they come to you as top of mind. So, then that way at the very end of the demonstration, we can make sure that we get to all of your questions.
Christian Hamel (09:19):
All right. I appreciate it, Amber. Let me go ahead and share my screen and we’ll get this show on the road. Let me go ahead. I’ve got the right one here pulled up in front of us. All right, just making sure, can everyone see my screen okay?
Amber Vernieuw (09:34):
Yep, we can see it, Christian.
Christian Hamel (09:36):
All right, fantastic. So, let’s talk about Predictive People Analytics and let’s actually really dive into it. So, I’m logged into the platform right now and the first thing you’ll see is of course the dashboard I’ve made for myself. The Power of Predictive People Analytics often revolves around some of the customization you can do because you can create your own dashboards with the information that’s important to you. As you can see with mine, if I don’t like the order of this, I can come in here drag and drop these tiles around and really access whatever information I need. Predictive People Analytics actually pulls from the entire iSolved system, so we’ll be able to see metrics from different areas like the app contracting system, performance management, as well as items like compensation, payroll, and of course just details like your time. Now, with each of these charts, you control how the information is viewed.
(10:26):
So, if you want to customize some of these, if you want to say, “Hey, I’m not really feeling this pie chart, maybe I want it to look like a different pastry.” You’ve got that option within here to really be able to see the data as you’d like to see it. Now, with each of these metrics, we’ll hop into my rolling 12-month turnover here. We’re able to get visuals into it and really see the breakdown of things. I can either look at things as they are right now or head over to the analytics area where I can see how that change is affected over time with my organization. With each of these metrics, we can come through here and we can actually break down and utilize different filters, essentially being able to create any report that we need for whatever area of the organization we need it for.
(11:12):
Now, one of the things that makes Predictive People Analytics different and what makes it really more than just a reporting tool, is the predictive element. With each of these dashboards, we have a combination of our benchmarking as well as AI to be able to examine past data and use that to see if we can discover trends for the future. So, with my rolling 12-month turnover for example, of course I’ve got that data we’ve got in the past, but PPA is going to be able to use that information to build me an estimate for what I can expect in the future as well. As you can see with my turnover, it looks like March isn’t going to be the greatest month for us. We can come in here and we can take a look and actually get a breakdown of what’s causing that highest impact on that turnover, and I can see that things like average salary, average age, and benefit costs are all having an impact when it comes to that 18 estimated turnover I have.
(12:15):
Using that technology, we can come in here and even build models to get an idea of how we can lower that turnover for us. In this case, maybe I don’t want to have a turnover 18. Let’s see if we can drop that down to just a modest 16. PPA is again going to use that benchmarking information, that AI to generate models to examine the data and be able to come up with ideas and strategies for us to be able to reach the goals that we want to reach. In this case, we might be looking at a salary-oriented resolution, or we might look at something more benefit related, or even getting our employees to be a little bit more remote. Those are all options. We of course also believe in giving you a balanced route as well, so you’ll be able to see some of the solutions we can have here and we can go in, apply that model, and be able to see the breakdown of things across the board to be able to hit that goal that we’d like.
(13:12):
Now, Predictive People Analytics is a fantastic tool for being able to see that overview and for being able to get the information you need. However, it is not limited to the administrator. Because we have tools in here like the ability to share these dashboards with other users or even just anyone who you know the email of, you can absolutely create dashboards, create these charts, and send them out to whoever needs to see it, giving managers visibility into their team, things like turnover, whatever they need access to. If you ever need to share this with someone above that doesn’t always have access to the system, you can always share the same data that is on your dashboard as well. Now, one of the big advantages of this is, again, the information that comes with it.
(14:01):
Here at iSolved, we’ve actually created our own benchmarking information where you can, much like what Amber mentioned earlier, compare your organization against others in the same industry or region for things like salary, tenure, and turnover to really be able to get a gauge of where you are at in comparison, how competitive you are, and be able to plan accordingly. We see a lot of use with this kind of information. I know I’ve worked with multiple clients who, especially during the whole recruitment drought it feels like we’ve had over the last few years, have been resorting to doing things like high sign-on bonuses and things like that that have honestly been draining the budget quite a bit.
(14:43):
While once they had visibility with tools like this, they were able to see, hey, instead of doing these large sign-on bonuses, we can do something as simple as giving our current employees a base raise 3, 5, 10% across the board to reduce those costs, reduce the cost of recruitment, reduce the cost of training, and be able to not only have a happier employee base, but also save some money along the way as well. So, overall, a fantastic tool across the board to again get you that visibility and be able to action out and plan things accordingly. As far as the technology goes, that’s what I’ve had to show you. So, Amber, we’ll go ahead and pass things back over to you. Let me get this pulled up here.
Amber Vernieuw (15:33):
Yep. All right. There we go. Thank you so much. Okay, Kaleigh, off to you.
Kaleigh Johnson (15:55):
Awesome, thank you. So, here we have just included a quick visual of iSolved’s People Cloud in which you can utilize iSolved’s innovative technology and how you can stay competitive in the marketplace. So, iSolved includes a responsive web design. They have, of course, a biweekly release cycle, continuous development updates, and it is truly a multi-tenant database.
Amber Vernieuw (16:29):
Perfect. Time for questions.
Kaleigh Johnson (16:34):
So, we do have a few questions in the chat. So, first here, does the data come over directly from iSolved?
Christian Hamel (16:48):
Yes. At least the data in regard that’s related to your organization, that comes directly from iSolved. It reloads every 24 hours. While the benchmarking information is also the iSolved benchmark, that is ours using our clients, stripped out all the personal information to be able to build those benchmarks out.
Kaleigh Johnson (17:13):
Awesome. Will benefits be a part of analytics?
Christian Hamel (17:21):
Yeah, benefit costs do feed into that, so we can definitely pull metrics over like that.
Kaleigh Johnson (17:28):
Awesome. Can we do date range metrics rather than monthly?
Christian Hamel (17:38):
Yeah, absolutely. With each of those, one of the parts of the drill-down by default, it does do it over time, but if you want to pull that for specific time periods, like a date range for example, that’s something that you can do as well.
Kaleigh Johnson (17:54):
And then is there an ability to have the analytics be exported?
Christian Hamel (17:58):
Yes. One thing that you can do, all those charts, you can absolutely export the charts as well as the actual data that you can see in the breakdowns. Those can all be pulled from the system as well, so you get the best of both worlds of that.
Kaleigh Johnson (18:12):
Awesome. Then one more question, which I think you did answer, but how frequently is the data pulled over to Predictive People?
Christian Hamel (18:22):
I got you ahead of time there. Yeah, it’s every 24 hours, so once a day you’ll get that information update in that system.
Kaleigh Johnson (18:29):
Awesome. If there are any last-minute questions, anything else, please throw them in the chat. We’ll give it a second. It looks like that is all we have for questions.
Amber Vernieuw (18:46):
Yep. I don’t see anything else in the chat other than those questions that came through.
Kaleigh Johnson (18:50):
Awesome. Okay. All right. So, Amber, Christian, thank you so much. For anyone who has joined us live, we thank you for spending time with us today. We know it is a lunch hour. We hope you found this insightful and valuable. If you have any questions, if you’re interested in learning more, if you’d like to see another demo, please absolutely reach out to us. We have the email, phone number, anything here, we would be more than happy to help you. So, thank you and have a great rest of your day.
Amber Vernieuw (19:26):
Thank you guys so much. Appreciate it.
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