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People analytics and workforce metrics are everywhere in today’s digital-first, data-driven business environment.
While this trend is not new, it has gained momentum over the past year as various challenges such as economic uncertainty, mass resignations and the “quiet retirement” trend have forced companies to upgrade their talent capabilities. I was.
like i did written about Before that, people analytics has the potential to transform organizations in the coming year, enabling them to move forward more innovatively, sustainably, and competitively.
However, in an environment where data is a rich resource, not all information is created equal, and too much data can be as debilitating as less impactful insights. Here are some of the most important employee metrics to improve your business.
No. 1: Employee Benefits
Employee health is in the basement and companies need to boost morale to succeed in the coming years.
for example, in a survey According to the American Psychological Association, three-fifths of employees experience the negative effects of work-related stress, and 32% report mental fatigue. In total, 77% of employees Research by Deloitte He says he experiences burnout at his current job, a problem inherent in virtually every company.
Incredibly, a large survey of Deloitte and Workplace Intelligence employees and C-level executives (via wall street journal) found that while 80% of leaders believe their employees are thriving, only 56% of employees believe company executives care about their well-being. Did.
Health metrics are also indicators of organizational resilience. Health indicators can be obtained through research, active listening, and empathy. By leveraging employee feedback, managers can identify early signs of burnout. Some managers are using technology to track engagement and communication between employees.
Leaders should consider using purposeful conversations, surveys, feedback forms, and people analytics to measure employee satisfaction, turnover, and engagement. This information can then be used to identify broad trends that drive business and human resources decisions.
Healthy employees are likely to be more productive and less absent. This can bring many benefits to your organization. For example, these employees may not use sick leave as much and may be more motivated and enthusiastic about their work. This makes employee well-being a key metric for building and maintaining a healthy, prosperous and successful team in 2023.
2nd place: Productivity
The quasi-quit quit trend has made productivity a key metric for business leaders. Especially if the company makes long-term arrangements for remote or hybrid he work, the manager wants to know how his team contributes when he’s away from the office.
In some respects their concerns are justified.According to data from the Bureau of Labor Statistics reported by washington post (registration required), “In the first half of 2022, productivity – a measure of how much goods and services an employee can produce in an hour – has plummeted the most on record going back to 1947.”
This plunge productivity surge During the pandemic, a confusing dynamic has emerged for business leaders.
In response, many leaders are turning to employee analytics to better understand productivity levels and potential bottlenecks. Unfortunately, many companies measure ancillary activity-based metrics such as mouse movements, messages sent, and app activity to measure employee output.
This approach incentivizes author John Harman I will explain As a “non-work like work” that looks great in a spreadsheet but fails to drive company goals.
Instead, leaders should consider measuring broader productivity metrics and individual employee outcomes, such as project completion, revenue generation, and creative output. For example, you can identify times when your productivity peaks and limit disruptive features such as team meetings during those times.
No.3: Cultural contribution
Corporate culture is often an intangible factor that has a tremendous impact on an organization’s impact, productivity and sustainability. Employees who feel their work has a positive impact on others are likely to be more engaged and creative. It can also promote higher-level organizational alignment and employee retention and team engagement.
To have a successful work culture, employers must emphasize inclusion, respect and belonging. Employees should also be encouraged to experiment with different ways of working.
It is important for companies to measure and reinforce their culture. Understand that measuring culture is an ongoing process, and talk to people and cultures regularly.
Identifying and measuring cultural contributions to employee metrics is not always easy. Culture is an amalgamation of many influences, so one of the best ways to measure its influence is to look for specific metrics relevant to your business. On the other hand, we prioritize collaboration, connection and cooperation as some of the most important cultural contributions anyone can make.
lastly
Investing in employee analytics is key to improving employee engagement and company performance in 2023. With the right tools and techniques, organizations can improve employee performance while reducing the amount of time spent on specific tasks.
As companies try to do more with less in the year ahead, people analytics can help identify pain points. You can also identify best practices for holistically engaging your workforce in a data-driven, people-focused approach that produces real, long-term results.