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Workforce Cost Forecast
Projected workforce cost for upcoming periods
How it’s computed
MODEL(cost_trends, growth_plans)
What the evidence shows
Evidence (effect sizes, priors, validity) is syncing from Principia.
What this metric can show you
Workforce Cost Forecast can tell roughly 25 pre-built stories — each a designed scene the data either confirms or it doesn’t. Bring your numbers and the Story Finder runs every one of these shapes against them.
specific to workforce planning
{mover} is becoming a bigger share of who you are
workforce-composition · T1
{mover} is fading from the mix
workforce-composition · T1
One unit is over-managed
workforce-composition · T1
Retention is working
retention · T1
Spans are stretched thin in one corner
workforce-composition · T1
The mix is holding steady
workforce-composition · T1
The organization you have isn't the one you had
workforce-composition · T1
universal shapes — any single metric can take these
A few large values are doing the talking
any focus · T1
A one-time event, not a trend
any focus · T1
It doesn't track — the premise is false
any focus · T1
It's concentrated — one group stands apart
any focus · T1
Scenes are pre-built; your data is the toggle. Browse the full deck or watch one play end-to-end in The Quiet Exodus.
Run it on your data
This metric is computed in the People Analytics Toolbox on your own numbers. See pricing — posted, no quotes.
sources: toolbox:metrics-catalog
What the literature says
The measurement literature behind this signal — sourced, so you can defend it.
“Turnover lowers costs because employees who terminate usually are compensated at higher levels than those who replace them. In fact, because of turnover in some companies, salary programs add zero dollars to total payroll. However, the impact of turnover is generally more…”
— Compensation Benefit Designmatch 58%
“We do so in Exhibit 3-2 . Exhibit 3-2. Elements of the Total Compensation Framework (continuing the discussion from Chapter 1 ) [image "Image" file=Image00020.jpg] In the discussions about the projections of total compensation forecasting, expenditures normally paid via expense…”
— Compensation Benefit Designmatch 53%
“However, with minor changes, the procedure can be made to account for declines in population, as well. For this analysis, it is assumed that population change information is derived from historical trends maintained in the human resource information system. The effects of…”
— Compensation Benefit Designmatch 52%
Resources: Compensation Benefit Design