TriNet Launches Workforce Analytics to Assist SMBs with Strategic Business Decisions
Workforce Analytics will help small and medium businesses enhance and streamline Strategic Business Decisions.
TriNet, one of the leading providers of full-service HR solutions for SMBs announced the release of TriNet Workforce Analytics, an HR reporting, and analytics tool. In integration with the TriNet HR platform, Workforce Analytics aims at delivering rich data extracted from a single system to small and medium-sized businesses for them to make informed business decisions based on in-depth analysis, accurate reporting, and forecasting.
Dilshad Simons, Senior Vice President of products at TriNet said, “Small and medium-sized businesses represent 99% of all businesses across the U.S. and just under 48% of the U.S. workforce. In a tight labor market, it is imperative that SMBs have access to rich HR data to discover insights and make informed decisions that have a positive impact on their workforce and business strategy.” She added that TriNet is trying to level the playing field for small and medium scale establishments and helping to turn their data into actionable insights by offering them the most innovative technology capabilities in the form of comprehensive industry-tailored HR solutions.
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A 2018 Deloitte Global Human Capital Trends report stated that 69% of companies are building integrated systems to analyze employee data. This, in turn, leads to more firms looking out for better ways to manage their human resources. Workforce Analytics by TriNet provides business owners, managers, and HR professionals with customizable, powerful, and scalable reporting with the utmost ease of use and high efficiency. All TriNet users with proper permissions get the capability to access Workforce Analytics.
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Key Features of Workforce Analytics:
- Integrates easily with QuickBooks, Intacct, Netsuite, and Xero to sync accounting data.
- A single dashboard within the TriNet platform provides access to important workforce data such as annualized compensation range, average employee tenure, and benefits elections.
- Key HR metrics are available at the dashboard.
- Allows creating customized reports.
- Providing and revoking access/permissions can be achieved with a single click.
With the aid of Workforce Analytics, decision-makers can attract quality talent in a competitive market and analyze their benefits offerings to check which of those are the most adopted among their employees. They can then work towards improving the effectiveness of their offerings. In addition, employers even get to analyze the costs incurred on payroll, employee benefits, and workforce distribution between hourly and salaried staff.
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