To gain insight into the demographics of their workforce and more effectively leverage their human capital around the globe, companies in multiple industries are turning to human resources solutions from Hyperion (Nasdaq Global Select: HYSL), the global leader in Business Performance Management (BPM) software.
Companies are increasingly recognizing the importance of measuring the return on their investment in personnel-related expenses, such as recruiting, direct compensation, training, benefits, and outsourcing. In addition to implementing Hyperion software to streamline financial operations, these organizations are extending their use of Hyperionâ€™s BPM and business intelligence (BI) capabilities into workforce reporting and analysis. Expanding the use of Hyperion System 9 software can help human resources managers, business line managers, and company executives:
* Consolidate and integrate enterprise data sources to create a single system for human resources reporting and analysis, which complements and leverages the workforce data in enterprise resource planning (ERP) and human resource transaction systems
* Gain critical insight into the impact of human capital spending on corporate strategy and objectives
* Synchronize workforce-related expense plans with the financial budgeting and forecasting process to create a consolidated view of the workforce and its productivity
* Decrease manual reporting effort and reliance on IT for custom reports with self-serve analysis of the workforce along any dimension: by function, level, department, geographical location, length of service, etc.
* Integrate consolidated data with existing planning and reporting processes and internal measurement tools for immediate, accurate insight into workforce demographics, diversity, compensation, hiring, attrition, and performance trends
Creating a single, worldwide business intelligence system for human resources benefits organizations by allowing more time for higher value analysis and decision making, shortening compliance reporting cycles, creating greater confidence in reported results, and identifying top human capital drivers to allow for the allocation of human resources investments to drive company success.
â€œWith approximately 18,000 unionized employees located in multiple facilities across several states, it was an arduous and time consuming task to gather the information necessary to support union contract negotiations,â€ said Dan Rodriguez, assistant general counsel for Tenet Healthcare. â€œHyperionâ€™s modeling capabilities coupled with Hitachi Consultingâ€™s deep knowledge of human capital and their ability to partner with Tenet to deliver a time critical solution focused on wages, benefits, employee tenure, and financial performance have enabled us to anticipate likely negotiation scenarios and quickly develop supporting positions and counter proposals based on factual data.â€
Hyperion works closely with its human resources partners to provide solutions that address the most pressing human resources needs of todayâ€™s enterprise. Combining Hyperion System 9 software with partner solutions specifically developed for human resources allows organizations to use human capital investments to drive competitive advantage. These offerings include:
* Workforce Insight. A solution from DoubleStar, Inc., Workforce Insight leverages Hyperion software to deliver operational reports, metrics, and analytics to business users. Developed specifically for human resources, Workforce Insight addresses human capital measurement, provides human resources and corporate executives with accurate data from multiple data sources, eliminates manual reporting, and allows executives to link workforce performance with business performance management.
* Human Capital Management. Companies using Hyperionâ€™s capabilities in their Finance or Operations functions can also apply them to their human capital measurement needs using Hitachi Consultingâ€™s Human Capital Analytics Framework. The Human Capital Analytics Framework lets organizations get the most value from their human capital by enabling both human resources professionals, as well as line and executive leaders, to understand the causes and effects of relationships between people, corporate performance, and operational efficiency.
* Workforce Analytics. Business & Decision, a Hyperion consulting partner, leverages the complete Hyperion BPM platform to meet the most challenging customer requests and deliver enhanced planning and reporting capabilities on large group human resources challenges. Business & Decision uses Essbase and Hyperion Planning advanced analytics to simulate and model complex human resources forecasts and seamlessly integrates with Hyperion BI+ to publish reports or dashboards.
â€œOur workforce is our most critical company asset and we need tools to help us understand the profile of our workforce, how well it is performing, and where to apply our investments to improve and leverage human capital,â€ said Steve McMahon, vice president of human resources at Hyperion. â€œThatâ€™s why we use Hyperion System 9 as the reporting and analysis system for our own company. It provides us with the immediate insight that we need to assess workforce gaps, define opportunities, and plan for the future.â€
For more information on Hyperion software-based solutions for human resources, visit: http://www.hyperion.com/solutions/lob/hr/