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Workforce Demographics Valuable insights for attracting, retaining and engaging workers A demographic is simply a characteristic used to group people, like age, generation, culture or gender. In a workforce strategy we analyze demographics for insights into why specific events are occurring, like challenges with attraction, retention, engagement and performance. See, workers in certain demographic groups have something in common. Something more than just the characteristic used to group them. We have found that certain demographic groups share similar beliefs and these beliefs trigger common and often, predictable, behaviors. These similar or shared beliefs and predictable behaviors contribute valuable insights into why a demographic group produced a specific situation, like a steady increase in resignations. Now, sure, it is true that not EVERYONE within a demographic group share similar beliefs and behaviors. While I agree that the more you attempt to pinpoint a specific attribute, the more error you will incur, there is a middle range where the right amount of generalization regarding beliefs or behaviors will produce accurate interpretations about a demographic group. The most common method of analyzing a critical position workforce for its demographics is spreadsheet applications and their calculation, graphing tools, and pivot table features. With an application, like Microsoft Excel, a workforce strategist can manipulate large volumes of workforce data, sort and filter worksheets for findings and conclusions and graphically view the analysis using bar charts, histograms, and distributions. Because demographics contribute such powerful insights, workforce strategies should:
Talent Insight Analyze workforce nuances using a trio of characteristics to generate insights that strengthen the diagnostics and recommendations.
As we mentioned above, there are many characteristics which can be used to describe a group, but not all are equally powerful. Figure 1 depicts the characteristics which we assess most frequently:
Figure 1
· Personal: The distinguishing characteristics of a worker. · Geographic: The location a worker occupies. · Psychographic: The Interests, Activities, and Opinions of a worker. Sometimes referred to as IAO.
Next, these demographics are relevant at different points in the Workforce Strategy Methodology. Assessing data by demographics is first performed in the COMMIT Stage when developing the Case for Action. It is then used again in the DIAGNOSE Stage when determining external and internal workforce challenges. To illustrate how demographics are used for analyzing workforce data, here is an example from a recent project.
Figure 2
A workforce strategy is all about assessing challenges and designing opportunities. As workforces become more heterogeneous, having the capability to group workers by distinguishing characteristics and predict their behaviors will become a competitive advantage. For with these insights, executives will be able to better attract, retain and engage their critical position workforces. We believe companies with this capability will become more focused in attracting, retaining and engaging workers along demographic characteristics and see ensuing success in not only their workforce strategy metrics but also their key business outcomes.
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Contact
Eric Seubert Managing Principal (937) 239-0988 eseubert@talentstrategyadvisors.com
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About Talent Strategy Advisors
Talent Strategy Advisors is an internationally recognized workforce and talent management organization. We help companies compete more effectively with solutions that create the right workforce for the right jobs at the right time. Our next generation strategy and operating toolkit, knowledgeable research analysts and experienced executive advisors create compelling and differentiating workforce strategies for organizations like yours.
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