Handling the responsibilities of a business is tough for anybody – even the most seasoned professionals. Whether approaching the task as an entrepreneur or an individual...
If you haven’t already adopted Big Data Analytics to help improve your employees’ performance, don’t worry, it is never too late to embrace this new and highly effective technology.
Big data has the ability to improve employee management, employee engagement, employee retention rates, and employee productivity.
What’s not to love?
In a nutshell, big data enables you as a business to analyze vast amounts of data on your employees and your customers, meaning that you can make better decisions as a business and in turn, be more profitable; which is ultimately what all businesses want to achieve.
Keep reading to find out how big data can help your business by improving the performance of your employees on a daily basis.
1. Big data can help you better understand your employees
If you want to get the best out of your employees, then you need to understand what makes them tick; what motivates them, what leads them to feel indifferent and what inspires them. Big data allows you to track all elements of your employees’ work lives; from their performance, to their employees’ reviews to their HR records, meaning you can build a complete picture of them as an employee and ensure they are utilized effectively as well as ensuring that they feel valued.
Inpulse are employee engagement experts who carry out regular employee engagement surveys to help your business better understand its employees, resulting in higher performance levels and increased employee retention.
2. Big data can help you provide personalized training opportunities
Being able to provide your employees with individual and tailored training opportunities is a key component in increasing their performance as a whole. Big data can allow you as a business owner to track and understand how each one of your employees responds and reacts to particular training methods and subjects, meaning that for future training, you can offer the most effective program for each individual, resulting in a more engaged and effective learner.
3. Big data can allow you to give more effective feedback
If you can analyze large amounts of data relating to your employees’ performance levels, you can then offer tailored and more effective feedback. Not only will this give you a deeper insight into your employees’ professional life, but it will also enable your employees to take ownership of their work and seek out specific ways in which they can improve their performance.
Personalized feedback shows your employees that you have taken the time to get to know them as individuals and that you care about their commitment and involvement in your business. It also allows you and your employees to set realistic goals moving forward that will benefit both them and the business.
4. Big data can help you identify employees struggles
An employee may not want to discuss areas in which they are struggling or having difficulty with to their boss, but this can result in costly errors or even an employee deciding to leave their job rather than risk making a mistake.
Big data allows you to be able to identify specific tasks or areas where a particular employee is struggling, meaning you as a business owner can find an effective solution to the problem that is beneficial to both the business and the wellbeing of the employee.
Workplace stress costs American businesses on average $300 billion per year; so, any steps that you can take as an employer to minimize stress, anxiety and/or depression, should be embraced with open arms.
Big data can also help with the safety of your business and identify areas in which your employees are possibly unsafe, as well as identifying potential unsafe areas in the future.
5. Big data allows you to implement KPIs
KPIs or Key Performance Indicators are incredibly useful for managing the efficiency of all of your employees; plus, they can act as a highly effective motivator if used in the correct way.
Big data can allow you to set, manage and track each of your employees’ KPIs, meaning that you can keep on top of your employees’ performance levels and identify areas in which employees are falling short of expectation. This, in turn, can ensure that you take the correct steps as a business owner to support your employees and help them meet their required targets.
It is important to remember that KPIs should not be used to intimidate or cause unnecessary stress to your employees, but instead should work as a personal motivator and a way in which you and your employees can work towards a common goal; namely the ongoing success and growth of the business.
6. Big data can identify trends
Keeping your employees motivated and therefore performing to the best of their abilities can be an ongoing struggle for many business owners, with purely monetary rewards no longer being enough. Big data can help analyze employee trends and therefore identify areas of the business that cause a decrease in motivational levels.
This may concern training courses that your employees find unhelpful, corporate days out that are not having the desired team-building effect or a bonus system that does not seem fair; whatever your big data analytic tools discover, you are now in the position to rectify the situation and take positive steps to keep your employees stimulated and driven.