Productivity analytics is designed for companies to optimise the productivity of their most valuable asset: human capital. Human resources are one of the most valuable assets a company can own. Without motivated and engaged employees, even the biggest workforce cannot boost a company’s productivity and capabilities. This week’s blog post explores how analytics can bring out the best in their workforce.
Productivity analytics and the optimisation of human capital
Organisations are having a tough time managing their talent. Between generational differences, frequent turnarounds and the high cost of hiring, organisations struggle to develop a productive team. To overcome this problem, organisations have to be smarter in how they manage their talent. Implementing strict, bureaucratic rules is not the way to go for organisations, you are simply going to drive talent away. To resolve the issues regarding human capital management, organisations need unique, unparalleled insight, which can only be found in productivity analytics.
Better insight into how people work
How do employees perform at regular tasks? Are they fast and efficient? Where do they struggle the most? It is difficult to get an overall picture of which tasks get done quickly and which tasks slow productivity. Analytics presents trends and patterns in productivity levels, making it easier to see the causes behind low productivity. With this technology, it is now possible to track the time taken to complete specific activities. You can identify where employees are slow and why they are slowing down with productivity analytics. Is it because the technology is out of date? Is it due to bad work processes? You can identify where things have gone wrong and take steps to address the problem.
Communications can make or break a business. Therefore, it makes sense to monitor an employee’s collaboration with internal and external stakeholders. With productive analytics, a third person can survey communications to identify any errors or misunderstandings in the communication process. For example, if there is frequent communication between an employee and a certain contact. The employee’s manager can survey communications and flag any issues proactively before it becomes a serious liability for the company.
Improves revenue and profits
Improving productivity leads to an improvement in revenue and profits. Productive analytics provides incredible data and feedback on how employees work covering what is being done, how it is done and when it is done. The data provides invaluable feedback on how an organisation works, paving the way for significant improvements in how they work. These improvements will see a large uptick in performance, which would drive up revenue and cut costs in the long run.
Productivity analytics is a crucial tool for the HR department. The modern workplace continues to evolve and HR departments are now more involved than before in an employee’s daily experience because it is a huge part of their productivity. Due to the real-time insights from analytics, HR departments get a unique perspective of the people under their charge.
Productivity analytics encourages better decision making. Whether it be recruitment choices or changing work processes, decisions need to be made and most professionals rely on emotion and intuition. However, analytics platforms provide a huge wealth of data that provide a unique perspective backed with substantial evidence. Finally, analytics eliminates unconscious bias, allowing you to hire the best talent and promote the right people, regardless of race and gender. Thus, HR officials can make better and smarter decisions than ever before.
Most organisations are not just competing for clients, they are also competing for talent. If an organisation has an excellent work environment with smooth processes and low-stress levels, then it is much easier to win over talent compared to your competitors. Furthermore, you can reduce the level of employee turnover, which makes it much easier to build a productive team.
Productivity analytics to the rescue
Data analytics can transform public transport, healthcare, aviation and marketing, but little attention has been given to how analytics in improving human capital. Productive analytics is the perfect solution for organisations because the platform facilitates the integration of unique insights into work processes, paving the way for improvements in the workplace. If the insight is utilised properly, then organisations can recruit the best talent, increase productivity, improve work processes and cut costs in terms of worker turnaround.