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Once you know how your workforce needs line up with your business objectives, you can begin the process of meeting those needs. The first step is sourcing candidates. You do this through a number of ways but the most effective is by leveraging your most important asset – your current employees. According to study after study, employees who come into a company through other employees are of higher quality, and stay longer than any other source. It is the number one resource for effective candidate sourcing. And PeopleSoft has the most comprehensive employee referral process in the industry. The HR administrator is provided a new hire checklist that includes items like relocation information. PE007 Workforce Analytics has become more important than ever because of two main reasons: a) Companies are realizing that they cannot manage what they cannot measure. Organizations because of cost containment times are having to justify spend and without tools to pull data together, they cannot justify HR expenditures such as benefits, pay increases, etc. b) Organizations are realizing the power of reporting on data from more than one data source. This type of reporting is used to draw correlations between items such as project costs vs sales; support calls vs training; and payroll costs as a percentage of overall company expense. The ability to bring data together from multiple data sources makes Workforce Analytics a necessity. As we have covered, this is where the initial planning stage takes place. WFR enables you to Import Survey Data Relate Survey Data to Organization’s Dimensions and Trees. Regress the Survey Values, Define a Model, Age the Survey Data, Select Surveys and Apply Weighting Rules, Create and a Run Scenario. From there you can: Review Output with DecisionMaster Approve Assign Target Rates for Each Compensation Type (Links to Overall Compensation Strategy) Publish Final Market Rates Comp Planning functionality allows: Market-Based Pricin
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