Compared to its predecessors and contemporaries, SuccessFactors Workforce Analytics (WFA) is on the cutting edge of the HR transformation, making it a key differentiator in the SuccessFactors product suite. By empowering companies to analyze the myriad of data they are already collecting about their people and processes, organizations can obtain a more holistic picture of their workforce, as well as identify areas of opportunity to drive actions resulting in either cost savings or increased revenue.
The SuccessFactors WFA solution clears the hurdles commonly experienced in launching and sustaining a WFA program by guiding you in what to measure and how to verify the accuracy and validity of your data. It also provides methods for utilizing the analysis, visualizing results, and recommending actions. The process of telling stories with data enables HR to transform the decision making process from being based on gut feelings to data-driven insights. Additionally, companies that utilize WFA can leverage a standardized metrics catalog to compare individual results against various categories of benchmarks, such as industry, geographic region, organization size, or revenue.
In this chapter, we’ll provide you with an understanding of the multitude of analytic capabilities delivered by SuccessFactors WFA, including standardized metrics , the benchmarking program , and reporting functionality and advanced analytical tools . The modular design is followed by a detailed description of the metrics methodology, associated metrics packs, and common WFA data sources.