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💬 Ask Vee: 𝐇𝐨𝐰 𝐝𝐨𝐞𝐬 𝐚𝐜𝐭𝐮𝐚𝐥 𝐓𝐂𝐎𝐖 𝐜𝐨𝐦𝐩𝐚𝐫𝐞 𝐭𝐨 𝐛𝐮𝐝𝐠𝐞𝐭𝐞𝐝 𝐓𝐂𝐎𝐖?

Total cost of workforce (TCOW) is a measure of all of the expenses associated with an organization’s workforce—how much they’re paying for employee contributions to the bottom line. This typically includes sales and wages, benefits, taxes, as well as training costs, and the cost of contingent or contract labor.

Each year, most organizations budget for their workforce-related expenses. Understanding how well their budget aligns with actual investments can help inform future planning cycles while also indicating where they may not be getting a positive return on this important investment. Identifying and analyzing cost variances can help companies make more informed decisions related to workforce planning and resource allocation.

Vee, Visier's Generative AI for people analytics, is here! ✨ Instant, natural language answers to all your people questions—in the hands of leaders at every level.

See what else you can ask Vee: https://okt.to/thy6Nz

💬 Ask Vee: 𝐇𝐨𝐰 𝐝𝐨𝐞𝐬 𝐚𝐭𝐭𝐞𝐧𝐝𝐚𝐧𝐜𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐯𝐢𝐭𝐲?

Understanding the relationship between attendance and productivity can help managers. Here we see another counterintuitive trend—an increase in output despite a decrease in attendance.

Could this mean that employees working from home are more engaged and, therefore, more productive? That’s a critical insight and data point for HR leaders and managers to have, in especially in a contentious era of return to work (RTW) mandates.

Vee, Visier's Generative AI for people analytics, is here! ✨ Instant, natural language answers to all your people questions—in the hands of leaders at every level.

See what else you can ask Vee: https://okt.to/7YBEKH