How Success Will Be Measured In Business: The Metrics

Businesses are not only measuring performance and innovation with more and more digital analytics tools but also with humans.

This is the era of A.I.-based decision making, where computers no longer just follow the data, but also use deep learning to learn from human experience.

Digital analytics tools are starting to create many shortcuts to decisions.

More decisions are automated and delivered faster in less time with higher quality output.

Shortly, more decisions will be made by computers, which will give humans more time for innovation and creativity.

Organizations will measure the performance of business growth and improvement in metrics such as digital transformation, enterprise agility, digital maturity, customer-centricity, and business agility.

Each of these metrics is perceived as having a different focus and potential success, but all of them have one thing in common:

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They will be measured through the prism of humans.

The people analytics industry is booming, and more organizations are making their business analytics and data skills part of their strategic planning, staffing, and reward systems.

Each of these metrics is perceived as having a different focus and potential success, but all of them have one thing in common: they will be measured through the prism of humans.

The people analytics industry is booming, and more organizations are making their business analytics and data skills part of their strategic planning, staffing, and reward systems.

Leaders’ perceptions of their own performance will increasingly be determined by human factors and by the experiences of their people.

People analytics tools are increasing our ability to interact with data to help us understand our own mindsets and behaviors and to learn to change our own habits and behaviors.

These tools help us to create better customer experiences, increase operational efficiency, improve employee engagement and team productivity, and improve compliance.

However, these tools cannot replace the human component in business decision-making.

They can be used to optimize processes and for employee and customer engagement, but they cannot be used to predict business outcomes, make strategic business decisions, or lead more strategically.

These skills, rather, will be the outcome of people engagement and the actions we take.

How are we getting to the point where a business can measure its people?

Analytics technology can make your people analytics easier

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Instead of having to manually compile data to understand human behavior, you can gain real-time insights from the data as it’s entered.

Humans can now understand the people analytics tools. Human tools can easily access the people analytics information to solve business problems and assess the environment.

People analytics tools will improve customer experiences and interactions. This is where the big payoff is.

Traditional employee engagement processes often ended with a pop quiz to assess the employee’s perception of the company.

However, it was really about measuring the employees’ own perceptions and expectations.

With these tools in place, people analytics tools are allowing managers to assess the results of specific situations by comparing them to previous surveys and insight from the people analytics tools.

This puts accountability on the leaders and managers to do the hard work of involving employees in defining and tracking stakeholder perceptions and outcomes.

People analytics tools and processes can make your people analytics better.

Organizations that take an evolutionary approach to incorporate people analytics into their strategic planning, staffing, and reward systems often have the best business results.

Organizations that are more “lean” and ask employees how they want to be engaged with the organization, what projects they want to work on, and what technologies they need are typically more successful and engaged.

When companies promote employee empowerment, they are more likely to see the greatest value from people analytics technology

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Organizations that trust employees with the intelligence of the people analytics tools to define the overall problem, ask employees about their visions for the business, and then manage and measure their perceptions and behaviors to see what drives success and identify the parts of the business that need the most improvement are the most successful.

People analytics tools can make your people analytics better. The last value that organizations can expect from people analytics tools is the ability to effectively manage people.

Tools like Moz, ZoomHR, and others will improve your people management practices, offering companies the ability to track employee attendance and provide the information needed to identify individual performance gaps and risks.

These tools will also allow managers to ensure employees are receiving the training that is needed, keep managers accountable for on-the-job training, and track and reward the results.

This can be done through newsletters or pro-rated bonus amounts based on attendance. People analytics tools can make your people analytics better.

People analytics tools are now being used in dozens of industries to help people understand their work better, identify their roles, manage their career development, and develop a more personalized approach to work.

As organizations get more comfortable with using these tools to measure key stakeholder behaviors and on-the-job actions, they are likely to see increased accountability and savings.

Ultimately, though, people analytics tools are an excellent way to improve any people analytics process. They not only generate data and insights but also provide solutions and suggestions to the organization.

This is a win-win for everyone involved.

 

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