by Mark Smith | 2012-08-27 | Article ID: QT12-40 | Article Type: QuickTake
The workforce analytics market continues to evolve, driven by organizations seeking to reduce the time required to derive the insights and employer metrics they need to meet compliance requirements, mitigate risk and enforce governance policies. TALX provides a range of data-oriented services for HR, payroll and tax professionals. Through its parent Equifax, TALX has access to the credit files of tens of millions of employees in the U.S. Combining that information with employee salary data, employers can determine the financial health and risks of their workforces. TALX’s integration with the eVerify service assists the hiring process with I-9 compliance. Since TALX acquired eThority, a provider of workforce analytics, last year, the company has enhanced its workforce analytics software and recently announced TALX Elements, a workforce analytics product that unites key data services with eThority’s analytics and TALX’s industry expertise to help employers gain insights faster.
At the core of TALX Elements is a prebuilt set of people, process, risk and compliance metrics that go beyond traditional performance-related indicators to provide headcount, compensation, tenure, turnover, compliance and liability-related analyses. The eThority workforce analytics was designed to make it possible for HR and other business professionals to quickly identify issues such as noncompliance, inappropriate compensation and the filing of unemployment claims by ineligible employees. Beyond Elements, TALX eThority provides other workforce analytics for use in areas such as recruiting and retention.
The company makes Elements available as cloud-based software as a service (SaaS) that is accessible via a Web browser without IT involvement. This easy access may prove to be useful in enabling HR organizations to reduce their reliance on spreadsheets, which contribute to data inaccuracy. TALX says it will continue to expand Elements to other data services that it provides, but it has made no specific commitments.
Organizations looking to enhance their sophistication in compliance, compensation, retention and governance should examine TALX Elements. Those looking for a simple and robust workforce analytics offering should consider the TALX eThority software, which can address a range of needs from recruiting to retention.