Big data is being increasingly used to manage and predict business operations in today’s world. Going forward it has also started being used for employee engagement so that it can improve employee performance and retention and also enhance customer satisfaction.
People are the No 1 resource for any organization. Keeping them happy and committed is a critical necessity and hence it becomes important to invest in them, keep them engaged and reduce employee attrition. Big Data helps in identifying, and evaluating the relation between engagement and retention. It tells you how and why employees engage with what they do, how this translates into performance and business metrics, what makes them unhappy, what alienate them, what induces them to quit, and what you can do and improve upon in order to retain them. These insights will help strengthen your HR practices and processes, it will enable you to spot trends and make predictions, it will assist you in drawing up your strategy and creating a roadmap for success and will eventually help change the face of your business.
Real-time performance reviews
The large volumes of data being collected can be used to get real-time performance reviews rather than annual or bi-annual employee evaluation. A system that allows managers and employees to interact on a continuous basis gives a better picture of the extent to which employees are happy and engaged. It helps ascertain factors that contribute to individual employee satisfaction and thus serves as a guide to deciding on HR policies. It throws light on who are the unhappy and dissatisfied employees and thus highlights areas of concern. It identifies factors that lead to lower employee morale and high turnover. This data can thus be used to address areas that need improvement. Problems can be tackled at the individual level and can thus save time, energy and money while resolving the issues. It can be used to identify patterns and establish links between engagement, productivity, management styles, well-being, etc.
The two-way communication between employees and managers gives employees a feeling of inclusion and a sense of community in the company and works as a motivator. It creates a positive attitude and environment, which are critical to retaining talent and improving productivity.
Set up the system
It is also possible to set up the system such that customers can also have the opportunity to give their feedback on products, their interaction with company personnel, their levels of satisfaction or dissatisfaction. This gives valuable insights into what the business is doing right and where it needs to improve. It also provides information that can be used for employee training and engagement.
Employee engagement not only affects the company internally, it also has an impact on overall business outside the organization. Employee engagement thus has a major connect with customer satisfaction. If employees are happy, your customers will follow suit. And all this becomes possible, courtesy Big Data.