Analytics for the Workplace: 5 Key Points for Analysis
Analytics for the Workplace – And You!
Analytics in the Workplace is transforming the role of HR in many an organization. Getting more done with fewer resources has gotten a lot easier, and that only been possible with the application of solid Analytics for the workplace. It may sound like just one more buzzword. We’re going to show you, and it’s quite a bit more than just a trendy topic. Better analyzing your people and their performance is done the same way that other people in your organization are analyzing cashflow, manufacturing, supply chain and finances.
Combining any (or all) transactional workforce data with business output data is today allowing HR to see where are the skills missing and where are the opportunities to do things better.
We talk a lot here about workforce and labor resources – and about making the most of them. There’s never been a better time to start gathering data on all of them. In fact, tactical and strategic decisions depend on the quality and quantity of data you can get.
Analytics for the Workplace allows for better managing teams, identifying and predicting trends and recognizing and encouraging employee engagement. One goal then is to coordinate an understanding of human capital with all of the financial capital and other business assets. That’s never been possible until recently.
Is there a correlation between engagement level and the simple number of days off scheduled by a key team leader? What about the role of flexi-time next to all of your other production numbers? What about a method for honoring and respecting the personal goals and outside responsibilities of your entire workforce? When that gets taken care of, then you have a very different organization to come into every day.
5 Key Analytics to Examine
Let’s take a look at what HR professionals are looking at today.
How are people working together? Arguably more important than the quality of any given individual – engagement with a team lets HR know what what types of people are best able to make up a productive community.
Human capital? Strategies for engaging and motivating employees beyond short term business goals are only understood through analytical approaches. They’re not just measurements. Value is actually created through engagement and organizations looking at the full range of demographic and sociographic factors are able to identify higher engaged employees and groups of employees.
Leadership? Imagine measuring leadership. Analyzing the issues important to leaders allow you to better understand and encourage the leadership necessary to all of your employees.
Performance? What qualities can be identified in the employees who will perform well? Has someone ever held a leadership position? For how long?
Supply chain? From a human resources point of of view, this is a supply chain of human capital, and investing in it pay off. But take a close look at how and where and how much.
Human Resources departments are deploying and increasingly sophisticated array of data gathering devices to visualize and to analyze their organizations. Great visualizations allow engaged and more valuable employees to stand out and for managers and executives to spot them. They also allow them to identify and predict risks – and to mitigate them.
Strong visualizations of all of the above are just the latest, greatest way to understand your own workforce.