Company turnover
The statistical analysis of the tracking system can formulate the type of information that a company wants to track. For instance, the applicant tracking system can scrutinize exit interviews and note why an employee left a given company. The scrutinized data can be statistically evaluated to find out the root cause of the company turnover.
Downsizing
The formulation of system tracking can be done by analyzing the input criteria and balancing the labor cost. The staffing technology can analyze each department within the organization and calculate its labor cost, best hiring process, and develop employee performance and profit ratios. Once the data is examined, it will show hiring costs and departmental output. If the output is lower than the input, it is categorized as a loss, and the organization needs to downsize its cost-saving measures.
Retention
The staffing technology enables the organization to share data of each new employee and provide an insight into the cost of recruitment. Staffing technology can also calculate hiring and training costs. At the same time, it compares the turnover rates, labor cost, and analysis of choosing to hire an employee based permanent or contract basis. It is an important aspect because companies can review their competitive advantages in the market.
The staffing metric is capable of measuring the modes of downsizing, the rates of retention, and the turnover rates.
To ease the analytics, the metric is categorized under the short-term or long-term spectrum. The short-term spectrum scrutinizes staffing success using the recruitment modes and hiring outcomes that an organization achieves. The hires entail having a diversified workforce, a timeline used for the hiring process, a quality range of the new employees, and a timeline for the new hire to be profitable.
The long-term spectrum analyzes the staffing systems ratio once the employee is hired. The systems include: Employee success, the period spent by the employee in the workplace, the length is taken to achieve employee milestones such as promotion.