You wouldn’t be able to win a Formula One race without a lot of technical diagnostics and driver performance analysis before the race. Spain and Italy wouldn’t have reached the final of the UEFA Cup without having analysed player performance and game strategies that allowed them to beat opponents in the past. And Usain Bolt, the fastest runner in the world today would not hold his world record without having analysed his fitness and performance so that he would be at peak fitness and have a race strategy for his world-beating performances on the track.
The article mentions research that has shown organisations who integrate workforce data analytics into their analytics tools are three times more likely to achieve ‘best in class’ status than those who do not and that the top-performing organisations use data analytics five times more than lower-performing ones.
It is clear to me that without insight into how your workforce is performing and having the right tools to analyse the workforce data you collect, there is no way an organisation can improve their workforce management or put in place measurable workforce management strategies – whether it be reducing absence, increasing productivity or being able engage employees and motivate them to give their best performance for your organisation.
The HR team at LondonWaste, a customer of Kronos, also mentioned in the article, has used workforce analytics to analyse several years of HR data held in their system along with current data to enable them to analyse various aspects of workforce performance and believes this has helped their workforce to become a strategic asset in their organisation and given them a distinct competitive advantage. In a recent video – Mark Beattie of LondonWaste can be seen discussing how workforce analytics has given them a deeper understanding and insight and driven business strategy.
So, it seems the proof is out there – for organisations who want to be the best, their employees are a key strategic asset and they will be using Workforce analytics to drive performance and business strategy.