Workforce analytics can be a key part of your HR department if it is used in an effective and efficient manner. Data analysis can help companies monitor, track and predict employee behaviour and any trends within the workplace.
The employees which make up a company’s workforce are by far the most important asset to the business. Therefore in order to positively impact on employee engagement and retention rates there is a need for HR departments to analyse data, which may also lead to increased productivity and profitability in the long run. Due to this it is vital that HR departments harness the power of technology and use it to reach the companies goals and objectives.
Workforce analytics are numerical systems and tools that help businesses measure and organise employee data to gather insights on employee engagement, performance and productivity.
In a period when the business is not operating in a productive manner, a usual response is to introduce a new wave of employees in order to ‘freshen things up’. The thought behind this is that new employees will come in with new ideas and good attitudes, however this is not always the case and does not always benefit the business in a positive way.
Therefore in 2019, workforce analytics will help businesses implement new methods to increase productivity. This can be done through benchmarking, performance reviews or even identifying the trends of the best performing employees and filtering these down to the rest of the employees.
- Larger scale
Analytics is a tool most often used by businesses to focus on individuals, seeking to improve personal results or moral in order to gain the best possible productivity. However, throughout the year workforce analytics will transition from being on a small, individual scale to being on a larger scale in the whole business network. This will enable businesses to focus on specific teams, groups or even the whole workforce.
- Transparency the key
In May 2018, new guidelines were introduced on the handling of personal data, known as GDPR. The implementation of this new legislation has been a learning curve for many businesses has they have had to adapt the way that they gather and handle data, however GDPR has also brought positives. The main positive is the transparency around data exchange and handling. The transparency is needed as the way in which people and businesses handle data is under ever increasing scrutiny.
Therefore, with more dependence on businesses being fully GDPR compliant this opens the door for new technologies to make an impact in the HR world. An example of this could be in-built GDPR compliance measures.
If you have any questions about this article or how workforce analytics could help your business then please do not hesitate to contact a member of the oneHR team:
T: 0844 800 5932