New Company Finds Buried Treasure in Human Resource Databases
Workforce Foresight helps clients discover hidden information and knowledge in human resource databases that can improve recruiting, reduce turnover, get more ROI from training and inform strategy. The company developed the first automated tool for knowledge discovery in workforce databases.
Steve McDonnell, a former Worldwide Partner and head of the Global Information and Software business for the Americas at Mercer Human Resource Consulting, left the firm after more than 20 years to become the company’s founder and President.
“Hiding in HR databases are information and knowledge that can improve recruiting, reduce turnover, get more ROI from training, and inform strategy,” says McDonnell. “We help companies extract knowledge from their data and use it to make decisions and take actions today that not only change the future but also have a measurable impact on the bottom line.”
McDonnell says that extracting knowledge from HR data has been like searching for buried treasure in the ocean without a map. “You know it’s there, but there are so many places to look that it’s absolutely overwhelming. It’s one reason that very few companies do this today,” he says.
From its research and analysis over the past 12 months, the company developed a process and an automated tool that make it possible for organizations to mine their human resource information. “By following our process, clients create a map, so they know what they are looking for and where to look for it. Then our automated tool dives in, searches through the data, and extracts information and knowledge -– the buried treasure that exists today inside every organization’s workforce databases,” explains McDonnell.
Workforce Foresight also offers data quality assessments, custom data mining services and creates predictive models for events such as turnover.