HR professionals and organizations often view ‘Workforce Analytics’ as the collection and analysis of data with HR departments about a workforce. This data primarily measures employee performance, talent management, and retention. However, businesses are increasingly seeing the value of Workforce Analytics beyond HR. So, let’s explore opportunities for Workforce Analytics in other business areas.
What is Workforce Analytics to HR?
Many HR departments associate Workforce Analytics with talent management and employee performance. HR collects employee data with software that uses statistics and algorithms to analyze a particular interest in recruitment, retention, employee performance, and skills gaps. Many HR Workforce Analytics projects focus on individuals and not on the workforce.
How is Workforce Analytics evolving?
Having more team members working remotely, business managers want to understand how to improve performance. The goal is to optimize the way of working to achieve organizational goals more efficiently. They care about their team productivity and employee engagement. Using digital conversation data gives you a proactive approach to understanding the organization’s heartbeat. A recent report by Quantum Workplace cited that highly engaged teams show ‘21% greater profitability.
So, it is critical to ensure teams are connected and engaged. In the wake of COVID-19, the workplace is more distributed, with remote workers collaborating and working together worldwide, challenging the way employees to work. In these dynamics, managers focus on ‘Are you working?’ to ‘How are you working?’ The new way of collaboration creates a different use for Workforce Analytics.
How can Workforce Analytics help Organizational Teams Other Than HR?
The new normal for both employers and employees is to use Workforce Analytics to understand a workforce’s productivity, engagement, and collaboration. Having the ability to view and analyze relevant analytics in real-time by any department, any function has become a competitive advantage. It is not only for management but also for the workforce to understand how they work and how they can improve. Workforce analytics provides organizations key user behavior insights beyond HR that help business leaders understand HOW employees and teams work based on unbiased data collected directly from the source–the users doing their work. Managers can now make more informed business decisions.
Behavioral activity data that measures and understands employee productivity, engagement, and business operations are critical in today’s business climate. Modern Workforce Analytics software, like KeenCorp, helps employers and employees uncover opportunities to achieve better results for employers and employees. So, why don’t you bridge skill gaps, eliminate inefficiencies in processes, and boost employee productivity to improve your business performance and achieve strategic plans faster?
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