HR Data, also referred to as people analytics, is undeniably one of the most valuable tools for your business. No longer relying on approximations, HR Data can give you a real insight into employee engagement, workplace wellbeing and absenteeism. So, understanding this insightful information is key to supporting these areas and helping your people grow alongside your business.
According to Deloitte’s 2020 Global Human Capital Trends Report:
“Over half of businesses (53%) reported that their leaders’ interest in workforce information has increased in the past 18 months. The desire for better workforce metrics spans a diverse set of needs that mostly focus on the future, with information on the readiness of the workforce to meet new demands the clear leading priority.”
Let’s Take a Look at How HR Data Can Drive Business Decision
Diversity & Inclusivity
Using HR Data that your business collects, you can see any discrepancies that may have arisen. For example, looking at pay gaps between different demographics, such as age and gender.
They say all publicity is good publicity. However, when it comes to diversity and inclusivity, this is not the case. A company can suffer enormous consequences long term.
Employee Engagement & Productivity
Additionally, by monitoring how your staff operate, you can address any underlying issues that may be present within your organisation. Specific data can show you your people’s weaknesses allowing you to address them strategically. Therefore, overcoming them.
HR Data can also help improve your workplace wellbeing. With remote working becoming the new norm, keeping track of wellbeing is becoming increasingly difficult. Therefore, any data can help. It is important to ask your people how they feel and get their opinions to understand them fully. This way, you can bring in the correct rewards and recognition to help your people.
How Can Each Person Help?
Not all rewards and recognition providers make reporting easy. This lack of reporting and HR Data is partly due to the challenges of receiving regular engagement across your workforce. At Each Person, we believe it’s our responsibility to give you total visibility of how the program has landed within your business.
Our HR dashboard allows you to see in real-time how teams across your business are recognising and rewarding each other. Furthermore, every interaction is tracked and shared in your own HR dashboard. Therefore, highlighting where improvements need to be made in either the education or communication of your scheme.
To find out more on how Each Person can help your people and our employee reward scheme, contact us today at [email protected]
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