MARINA DEL RAY, Calif. — The Human Capital Management Institute, a pioneer in the financial measurement of human capital ROI, has added major artificial intelligence capabilities to SOLVE–its workforce analytics and planning software that uniquely links people investments to key business outcomes.
More than 1,000 predictive machine learning algorithms and natural language processing now enable the software to much more rapidly find and report actionable insights to employers. SOLVE (TM) integrates and analyzes sets of HR, financial and operational data, and applies 620 standardized human capital metrics to identify key drivers of productivity, costs, turnover, retention, engagement, leadership, and performance for an organization.
For a given organization, it can answer business leaders’ most pressing workforce questions, such as:
1) Which people investments provide the greatest ROI and value for the organization?
2) Can the organization reduce its workforce cost structure and still be a leading performer?
3) How does the organization’s workforce performance link to customer satisfaction, revenue and profits?
4) How is the organization’s workforce productivity trending versus its peers?
5) What are the workforce risks that could impact the organization’s competitive advantage?
“While other workforce analytics solutions focus on HR outcomes alone, SOLVETM links HR outcomes to business results to enable smarter workforce spending by telling you where to invest, where to cut, and whom to hire,” HCMI President Steven Maxwell said. “The new artificial intelligence super-charges the software, enabling it to give more actionable insights in less time, which generates more value for employers.”
Other benefits for employers include:
– Lower the workforce cost structure as much as 10% or more
– Measure and predict changes in workforce value and risk for board governance and reporting
– Provide business-critical workforce performance measures vs. KPIs and benchmarks
– Improve the financial linkage between strategic business planning and strategic workforce planning
– Increase retention and reduce the cost of turnover
– Improve quality of hire while reducing the cost of hire
– Develop a stronger leadership bench
HCMI will be exhibiting at the HR Technology Conference, Sept. 11-14 in Las Vegas. Attendees can visit Booth 111 to get a demo of SOLVE (TM).
The Human Capital Management Institute (HCMI) is a leading workforce analytics software and services firm based in Los Angeles with affiliates in London and Malaysia. HCMI was founded on the belief that organizations must find better ways of measuring the business impact of human capital investments. HCMI developed SOLVE (TM), its workforce analytics and planning software, to fundamentally change the way organizations make decisions about their workforce. Follow HCMI on Twitter at https://twitter.com/hcmi/