What To Do With Your Workforce Data

January 12, 2023

Workforce data comes from workforce intelligence software. Various areas of business can benefit from using this data in daily processes. Here is what you can do with your workforce data:

Workforce Data: What Is It? 

The data that comes from workforce intelligence software covers a combination of many different public companies, employees, and general business data. This data can be found publicly, but this software makes it easier to find and organize specifics, tailored to your wants. Some of the categories of workforce data include:

Public Government Data

Several different public government documents are available. Workforce intelligence software finds and collects relevant government documents, such as:

  • Census data
  • Immigration filings
  • Published labor statistics
  • Social security administration data
  • Voter registration data

Though this information is publicly available, it can be difficult to sort through and find the relevant data. This software makes it easy to find what you need.

Job Listings

Workforce intelligence software finds and gathers information regarding jobs that have been listed. These available positions can be found per company or type of job. You can find the salary of each position, the date the job was posted, and the description of each job.

Reviews of Companies 

Another category of information is reviews found on different companies. These reviews can be written or scored reviews by past or current employees, which can provide key insight into how a company operates on an insider level.

Employee Information 

Workforce data also includes information on employees. You can find the entire full-time work history of an employee with this software. Information about past positions, skills, education, and more can be found through workforce intelligence.

How To Use This Information 

Many different people in the business industry can utilize the data found by workforce intelligence software. It provides key insight into companies and employees. The information ranges from a company transition to employee salaries. This information can be used by investors, business owners, and other departments. Here is how investors can use this information for their investment practices:

Find Companies  

Finding a company to invest in can be lengthy as there are many companies to choose from. Workforce data allows you to filter and choose from the categories you set in place. You can search for companies in certain industries, companies at the top of their competition, and other beneficial categories. By using workforce intelligence, you can streamline finding the right company for you to invest in.

Reduce Risk 

Investors can find risk factors of companies they may be interested in, and they can find employee turnover rates, location issues, past performance mistakes, and more. By having this information before making decisions, an investor may be able to reduce risk.

Create Successful Plans

Before, during, and after an investment is made, investors can use workforce data to create business plans. You can use the information found with this software to find successful plans for similar investments and then model your own plan after it. These can be pulled from past successful business plans, or you can find competitors that have had similar plans. You can also look to competitors for plans that were unsuccessful so that you can avoid similar issues.

Streamline the Investment Process

All the data investors may need can be found on one software. When investors can have all the information they need in real-time, the easier it is to make decisions. Investors can request monthly reports on companies they have invested in or are planning to invest in. These reports can be customized to any format. Workforce data removes the wait time for key information between the company and the investor. When you can find all of the key information in one place, the easier it can be to make the best decision for your investment.

Data for You

You can use workforce data for many things, and several people can use it to benefit their business processes. Investors can use this software to create successful business plans, choose the right investments, and reduce risk when choosing an investment. Business owners can use this software to create better hiring processes and find where employees can increase productivity. Contact a workforce intelligence company today to find out more about workforce data and how it can benefit your business.

 

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