There are many organisations that have evolved through the first three phases of the workforce management maturity curve*, from seeing their workforce as an expense they now see them as a resource and a flexible asset.
Best-in-class organisations that have moved into the fourth phase, The Innovate Phase now view their workforce as an absolute competitive advantage. For them, their employees are their most critical asset who, when given the right tools, training and support enable these organisations to achieve great results that their customers’ value and their peers and competitors envy.
Organisations in the Innovate phase are embracing Big Data initiatives to identify triggers that influence growth, profitability, brand reputation, and operational excellence, as well as organisational transparency and accountability.
In the Innovate phase, organisations incorporate labour metrics into their Big Data strategies, to transform their workforce into a network of individuals all working together to achieve a desired result.
The correlation of workforce data with operational measurements of inputs & outcomes can yield powerful insight into the impact of your people on business growth, brand perception and ultimately shareholder value. Big Data strategy will enable business innovation and continuous improvement. Lack of understanding of how to use analytics to improve the business is the biggest obstacle in achieving success with big data. Organisations must move the analysis from an IT function to a business operations function – combining measurements, analytics and business intelligence tools with visibility and controls for business leaders to understand and act on.
When workforce analytics is combined successfully with operational data, actionable information will lead to operational comparisons and adjustments. Initial tracking of labour metrics like absenteeism, turnover and overtime can evolve into industry-specific trends and analysis. Retail stores can see the impact in increased operating margins, profit per employee and a stronger brand reputation. Manufacturing and Contract Services organisations can achieve operational excellence lean labour principles. The Supply chain can manage in the moment in warehouses and distribution channels and Healthcare providers provide better patient care and outcomes.
When your workforce evolves from a cost of doing business into a competitive advantage, your organisation can make that leap from good to great!
If you have any questions or comments please post them and I will be happy to respond.
The workforce management maturity curve was first discussed in detail in my US Kronos colleagues’ blog It’s About Time