The ability to capture, analyze and respond to large amounts of information is helping organizations make better decisions on everything from product development to hiring.
The big data trend is influencing every aspect of business operations. The ability to capture, analyze and respond to large amounts of information is helping organizations make better decisions on everything from product development to hiring.
A recent article by AOL Jobs notes that firms are turning to data analysis to determine which candidates may be the best suited for a particular position. Measuring factors ranging from how long candidates have been unemployed to how honest they are could help firms make better hiring decisions, creating a better workforce. Metrics are also becoming increasingly common in staff development and can be incorporated into employee incentive programs to engage workers.
As staff members are hired, the use of big data can influence their development and performance. Tracking everything from work volume to mistakes made gives businesses a realistic image of top performers. Bonuses and raises can be based on scores compiled from manager reviews, productivity levels, skill development and more. These metrics may also be used to create more personalized employee incentive programs that actively engage each worker. Setting unique goals for everyone ensures that all employees are pushed to develop their skills and knowledge, reducing the chance that workers will become dissatisfied with their jobs. In addition to boosting engagement levels, metrics and big data can be used to establish clear career paths that could reduce employee turnover. To keep workers engaged and boost productivity, companies should show employees the progression of skills they will need to adopt to become eligible for specific jobs.
Every aspect of customer interactions is now measured through big data analysis to improve market understanding. These efforts help firms craft creative and unique ways to engage the audience, and there is no reason the same strategies can't be turned internally to engage the workforce. Using big data analysis could boost the effectiveness of employee incentive programs and deliver a greater return on investment for organizations.