A vital tool for the success of any company is the people in it. An organization which can engage with the right talents, retains and elevate employee satisfaction while manage and utilize performance effectively, is an ethical move for long-term success.
The demand for HR Analytics has exponentially increased due to the breakthrough of technology. More than 80% of corporations intend to use data to boost employee engagement and business surplus. But what makes HR Data a great asset to an organization?
HR Data as a ‘valuable’ asset
In 2018, HR Data surged because employers demand answers to an event/occurrence. Questions like, “Why did the stock equity decrease?” or “The production increased twice this month than the previous one. What did we do differently?” The accumulated data can track down what the company needs to improve and what has been solved.
To use the HRA software effectively, you need to make sure to monitor the data that goes through the system to avoid any errors or inaccuracy.
Since a system isn’t completely foolproof, it can generate and jumble up different data into one place. So, the HR needs to modify and segregate files to the right destination.
The purpose of the HR Analytics is to find a way to improve the organization. While HR Data is strategically significant for every business, it’s honestly challenging to examine thousands of data and try to make sense of it.
Human Resource Analytics may be strenuous, but it empowers an organization with a more plausible and impactful HR that is far from the traditional practices.
Back then, Intuition/gut feeling was used as a tool for decision-making. To this day, many HR personnel still employ intuition. Is it effective? In some cases, yes. But thanks to the rise of HR Data, HR functions are evolving. Below are different ways how HR data are used today.
5 Innovative Ways to Use HR Data
1. Best Recruitment Channel: Crowdsourcing
If you were in a traditional HR setting, you either filter the candidates and invite them for an interview or wait for them to come to you (walk-ins). Statistically, 1 in 10 applicants does not show up for the scheduled meeting.
Nowadays, companies find the right candidate through events and competitions. A perfect example is the “Imagine Cup 2018” of Microsoft which garnered 3,000 participators from 33 countries. The convention gives students and professionals an opportunity to show their creativity in software development, high-technology inventions, and many more.
The winner of “Imagine Cup 2018” received more than $100,000 and had a chance met the CEO of Microsoft. The grand winner, along with the top 15 competitors, received quite a recognition from well-known companies.
Another event called “Code Vita Season 6” is an IT technology and coding competition which had over 100,000 participants from 63 countries. The top 10 participants had a chance to be hired by the TCS company and win more than $15,000.
What makes these events unique is how it encourages people who have little to no experience (in coding) to participate.
Tip: To find the right candidate, you have to hang out in a place they’re more likely in. In this case, if you want to hire IT or programming candidates, go to an event like Imagine Cup.
2. Track and Maintain Performance Threshold
Employee performance evaluation is outdated, most employees tend to hate it because of its’ one-sided feedback. A leading IT firm called Tata Consultancy Services looked for a way to accurately measure employee performance through technology monitoring.
This means the company can track down the activities an employee does in the computer/laptop and create a system that monitors the email and phone uses.
Tip: Using this strategy can help your employee improve ones’ performance and possibly, increase company development.
3. Establish an Employee Engagement Culture
Google is a company known to be a trendsetter amongst the business realm. Behind a successful organization are satisfied employees! Google-O-Meter, a software which employees use to share opinions and ideas. This enhances the company’s engagement with its’ employees by actually listening, responding and potentially, adapting the suggestions.
According to a study from the Future Workplace, the decrease of employee engagement is more likely affected by the increase of burnout. Google looked for ways to eliminate this problem by giving employees’ control of their time at work.
This means Google lets the employee’s access recreational activities – such as bowling, gaming rooms, sleeping areas, etc. – located inside the office, itself. Google believes a satisfied individual can produce astounding work outputs.
Tip: Communication is vital to increase employee satisfaction. Data analytics can aid you to build rapport with your employees by understanding their needs and wants from the company.
4. Safety and Health-focused Work Environment
In the year 2014, Houston Methodist used Fitbit to help employees engage in physical health. The hospital decided to join the Fitbit Wellness Community and buy 10,000+ devices for their 4,000 employees.
The goal of the program was to let the employees, along with supervisors and CEO’s, compete. The most steps you have, the better. The company made sure everyone participates in the program, using the tracking system of Fitbit.
Not only did the program aid the employees to stay fit and moving, but it also helped in engaging and building employer-employee relationships.
Tip: With Technology, you can detect potentially harmful occurrences and report it immediately – to avoid accidents in the organization.
5. Effective Employee Training and Development
Hyatt Hotels Corporation changed the traditional training modules to digital tutoring videos with the use of an application called Saba. The company has more than 40,000 employees in 50+ countries. Coaching employees in the fast-paced hotel industry are time-consuming and cost money.
Saba is a platform that offers tutorial videos in different languages. Employees can learn how to fix a bed and other duties by watching videos. Other than that, Hyatt can track down the employees who have watched the videos to make sure they’re well-informed of the procedures. With that said, Hyatt Hotels Corp. maintains a five-star rating all over the world.
Tip: Let your employees learn at their own pace with the use of online learning applications.
Addressing a problem with the right solution can save millions of dollars in revenue and yet, the tendency of companies is that they look for a solution from afar when the answer is readily available at their fingertips.
Every company’s problem and need is different, but sometimes all it requires is human ingenuity. With that said, companies should tweak and explore the HR data to find the right solution for the organization.