The WFC Group Blog

Analyzing the Workforce: Is Your Business Measuring the Most Effective Data?

Posted by Neil Shah on Apr 11, 2017 11:30:00 AM

How well do you know your workforce? Would you say well enough, or do you wish you knew a little more? There are many ways to build a better understanding of employees and the underlying trends in a workforce, and people analytics is a great way to use the knowledge you gain to make meaningful improvements to your overall business performance. This practice bridges technology and human expertise that can boost Human Resources departments into the present.

Paving the Way for a Proactive HR Shift

HR roles are evolving, and they are ever more critical to businesses' strategy, operational improvement and overall success. When used effectively, people analytics give Human Resources the power to bring out the best in employees. These roles are now in the position to actively develop talent and strengthen workforce performance. Deloitte Press gets this conclusion right when they summarize, "No longer is analytics about finding interesting information and flagging it for managers: It is now becoming a business function focused on using data to understand every part of a business operation."

Make Data-Driven Decisions That Engage

At the heart of performance is employee engagement. This is metric that has been given a lot of recent attention and seems to be suffering in today's workplace, as we've examined a bit before. When employees are disinterested or disengaged, productivity suffers and retention slips. It's a costly thing to ignore. A clearer view into the workforce's dynamics can help provide the necessary insights to foster better engagement - making employees feel recognized and valued through developmental opportunities and more.

"Plug-in" to More Meaningful Data

There's no shortage of ways to collect and dissect data, so there is real value found in knowing which generates insights that are the most actionable for a business. Kronos Workforce Analytics offers a strong, customizable foundation for industry-specific solutions, but there's also a treasure trove of Analytics plug-ins that bring even more data visibility to stakeholders - from business leaders to HR teams. This includes performance, engagement, productivity, behavior, policy compliance and so much more. The trick is knowing which focus areas hold the most benefit for your business.

Being close to the platform, we know how to ask the right questions that will lead you down a data-rich path that drives better performance and results for your bottom line. Think of how your business is using data and people analytics. Are your systems giving you enough visibility into your business and workforce potential, or do you wish you could grasp these performance areas more clearly? If the latter, contact us today for an assessment of your workforce.