Somewhat mind-bogglingly, 90% of all data in existence has been created in the past two years. How much do you think you’ve generated today, through tapping your Oyster card, choosing that motorway, making that purchase, or liking a Facebook story?
The way we share and create data has changed dramatically. For better or worse we know more about each other than ever before. Big data will dramatically impact the way we live, the way we work, and the way we capture information and understand key business insights.
So what does this all mean for employee engagement?
Data based decision making is taking over HR and employee approaches, which is good, because collecting data is one thing – if you don’t act upon it, then what’s the point? According to Inc. Magazine, over 50% of employees who leave their organisation of their own choosing do so within a year of their start date. Forbes shows that 41% of organisations have problems retaining high performing employees.
It doesn’t have to be this way!
We capture more data than ever before and by combining employee engagement survey data with multiple data sources it’s possible to predict what employees are going to do before they do it. These insights can give you the answers needed to retain your talent and recruit the right people.
Our advanced data analytics can help answer a wide range of key business problems including:
- How do we know where to focus our employee engagement efforts?
- Are we hiring the right people?
- Why is our talent leaving us?
- Is engagement impacting our customer experience?
- To what extent are our disengaged employees impacting others?
- How can we profile what our most engaged employees look like?
Using big data to predict the future
It’s already working for Booking.com. Initially focused on leavers, the results of the research were used to build an algorithm to show whose performance is at risk of dropping when, and who is at risk of leaving, with triggered alerts. And it’s evolved, as Savka Gajic, Learning & Talent Program Manager at Booking.com explains: “Insights have informed the Booking.com recruitment strategy. Using our wealth of data to make recruitment more effective, target the people who are the best fit, and likely to stay for longer.”
Through tracking the journey that employees take, you are able to predict the future. This doesn’t mean focusing on individuals or removing the sense of confidentiality or anonymity. What it does mean is that an individual’s journey becomes part of a bigger picture, used to pinpoint trends and maximise insights to inform business strategy.
You might already have the data, but are you acting on the insights?
This post is a summary of the paper delivered by Craig McMahon at our February event, Transfrom your engagement programme in 2016. You can find out more about our upcoming events here.