June 2, 2015 | Written by: Reena Jana
Categorized: Marketing | New Thinking
We all know that data is growing exponentially in our digital age: 2.5 quintillion bytes are generated each day.1 That includes valuable employee data that can be mined wisely to improve how we manage and reward our teams.
Some forward-thinking companies are combining traditional internal engagement measurement strategies with social media metrics. For instance, many corporations have histories of conducting annual or monthly surveys that track how engaged employees feel year after year or month after month. Pacesetters are combining that information with weekly insights gathered via employees’ public postings on LinkedIn and aggregated turnover numbers to paint a more complete and up-to-the-minute picture of employee satisfaction.
Other pacesetting corporations are gathering insights on intranet postings of blogs, resumes, project updates, and other content that can serve as unstructured data on employee skills. This can help establish a more data-driven approach to workforce planning and hiring strategies.
Analyzing and aggregating employee data on productivity, individual performance, or self-reported employee engagement can also help leaders offer more customized solutions for an individual employee’s growth. This approach can help predict an employee’s propensity for leaving, or help identify whether he or she should be rewarded. Pacesetting enterprises are creating algorithms to achieve these goals, with information delivered via elegant dashboards. This helps human resources professionals and executives quickly visualize the data to see trends quickly and act upon them. Some have created scorecards for employees to track how their most innovative experiments have influenced business development so that this hard-to-measure metric is considered for data-fueled performance reviews.
A combination of self-reported employee engagement and results, along with predictive analytics and eye-catching data visualization of vast amounts of unstructured data, can help both employees and executives build more efficient and effective workforces.
1IBM Institute for Business Value, The Individual Enterprise – How mobility redefines business