PeopleXplore: Transforming business success with data-driven HR

The PeopleXplore is a powerful tool that enables HR and Finance to come together to make informed, strategic decisions that drive profitability, improve efficiency, and reduce risk. It helps you turn your workforce data into actionable insights ensuring your people strategy is not only aligned with business objectives but also a critical driver of commercial success.

The PeopleXplore tool will give you insights that will help you drive financial performance through the workforce. These can include:

• Optimise recruitment costs: Gain immediate visibility into recruitment expenses by source to reduce reliance on costly hiring channels like agencies.
• Plan confidently for the future: Model different hiring scenarios to avoid budget overruns.
• Increase EBITDA: Identify savings opportunities across departments, from recruitment to retention, and directly enhance bottom-line performance.
• Proactive risk mitigation: Forecast workforce-related risks, from compliance penalties to unexpected attrition, and implement pre-emptive strategies to mitigate financial exposure.
• Turn compliance into strategy: Meet regulatory requirements while modelling the financial implications of new legislation, like minimum wage increases, across the business. Transform compliance from a burden to a strategic advantage.
• Manage workforce costs: Forecast and control salary expenses, recruitment initiatives, and workforce adjustments to maintain liquidity without disrupting working capital.
• Align workforce strategy with financial goals: Use predictive analytics to transform workforce data into forward-looking insights, helping align HR investments with business outcomes and long-term growth strategies.

PeopleXplore enables you to model scenarios to test the impact of any changes to the workforce on both retention and profitability. For example:

• Optimise recruitment and retention strategies: Model scenarios to evaluate the impact of salary or benefits changes on both retention and the bottom line.
• Forecast workforce needs: Plan for future workforce requirements based on business projections and strategic goals that are financially viable and aligned with the company's long-term objectives.
• Track and improve engagement: Assess the impact of employee engagement initiatives on productivity and overall business performance.
• Monitor and improve DE&I initiatives: Use data to demonstrate how increasing diversity leads to better retention rates, improved innovation, and long-term business success.
• Ensure HR compliance with confidence: Monitor compliance-related metrics such as gender pay gap and working hours and ensure compliance doesn’t hinder financial performance.
• Credibility in financial conversations: HR leaders can engage in credible, financially backed discussions that demonstrate the impact of HR initiatives on profitability and overall business success.

These metrics provide valuable insights into HR performance, inform strategic decisions, and drive organisational success.

Measuring HR performance requires identifying essential metrics that align with organisational goals. Some crucial metrics include:

• Employee turnover rate: Gauges the percentage of employees leaving the organisation over a specific period, providing insights into employee satisfaction, engagement, and retention strategies.
• Time to fill a position: Measures the average time taken to fill a vacant position, indicating the effectiveness of the recruitment process and highlighting areas for improvement.
• Training and development investment: Evaluates the investment in employee training and development initiatives, showcasing the organisation’s commitment to enhancing employee skills and competencies.