In part 1, we shared some initial ways manufacturers can build out a more positive EX for workers. Now let’s take a closer look at how you can master a stronger EX using data and analytics.
The EX consists of many different components that when combined create true value to your staff, and ultimately enhance a company’s productivity and profitability. Resources suggest using focus groups, surveys and manager input to gather information and insights into how employees perceive their work. Be mindful though that employee experience is about everyday life on-the-job and because it’s not always clear cut, can sometimes be hard to measure unless you have the right tools.
That’s why it’s no surprise that people analytics are on the rise – an umbrella approach that also includes work and relational insights. It’s a powerhouse proposition that will help you master your EX. Initially an HR driven function, people analytics is much more sophisticated than year’s past and is now garnering the attention of the C-suite as leadership looks for real-time insights on everything from retention rates to skills improvement numbers. A wise investment, it provides the framework and integrates all data and insight related to on-the-job experiences for a broader picture of everyday life at the office or on the shop floor – from employee surveys, incentive rates, and recruitment and career development reviews to workforce planning analysis, safety incidence rates and technology adoption.
People analytics provides a holistic overview of everything related to the work experience. It enables your workers to take more ownership of their roles, speak more freely and allows for more on-the-job transparency and communication. Thankfully, this employee-related data is everywhere. Most organizations are now able to access and use information from the following sources:
Combining this data with recruiting insights, performance reviews, salary information and organizational compliance, and you have a full-blown picture of how employees feel about being a part of your organization.
People analytics can quickly identify at-risk employees with low engagement. It can pinpoint who within your company is showing leadership potential. It can locate a lag or issue in onboarding. It can streamline your recruiting efforts and allow you to diversify hiring.
Honing in on relationships and interactions amongst employees with peers, management and relevant technology platforms will determine how well they will continue to perform on the job. Most importantly, as the Harvard Business Journal puts it, “companies can better identify employees who are capable of helping them achieve their goals, whether for increased innovation, influence, or efficiency. Firms will also gain insight into which key players they can’t afford to lose and where silos exist in their organizations.”
There is real value in directly applying the findings and insights in a way that helps add more value and results in additional positive change at your company.