Engaged, motivated employees can be an organization’s greatest asset. When employees are fully involved in, committed to, and passionate about their work, productivity rises, and more employees are likely to become brand advocates who can help you grow the business.
But many factors come into play when it comes to developing a more engaged workforce. While talent management tools are important to helping you attract, energize and retain the best employees, it’s only part of the picture.
In the last post in this three-part series, sponsored by IBM Smarter workforce, I look at how companies are using applicant tracking systems (ATS) and assessment solutions to better address these issues, and new developments in this area that promise to provide further enhancements.
Why should companies care about workforce science?
Intuitively, we all know that employees can make or break a company. When employees are productive and dedicated, they can propel business growth. Conversely, disgruntled or even apathetic employees can grind business growth to a halt.
Research confirms this intuition is spot on. IBM has found a strong correlation between employee engagement at the business unit level and key performance indicators, including customer metrics such as higher profitability, productivity, and quality, as well as lower employee turnover, absenteeism, theft and safety incidents.
But how much do most businesses really know about their employees? While many organizations are going to great lengths to understand and analyze customer and prospect expectations, most don’t really know much about what makes their employees tick. For instance, how does a person prefer to learn? What are their talents? How much do they care about their jobs?
The truth is that most companies still use subjective criteria to make many decisions in this area. For instance:
When you consider that businesses and their employees basically share a two-way profit relationship, it’s hard to understand why companies have been so slow to focus on this problem.
How workforce science improves talent ROI
Workforce science helps businesses solve this by combining behavioral science with normative data, analytics, consulting, and processes to determine what it takes to build an engaged workforce, and create the 'systems of engagement' to execute on it.
Particularly as the recession wanes and the economy picks up, more companies are starting to get interested in improving their effectiveness through workforce science. With the competition for top talent intensifying, organizations are looking to use the predictive powers of workforce science to help ensure that their investments will pay off throughout the talent management life cycle.
Talent is the lifeblood of any organization, fueling the innovation required to grow and thrive in today’s hyper-competitive world. The truth is, however, that most companies are just starting to think about putting science, solutions and processes in place in this area.
Because taking this type of analytical, data-driven approach to talent management is so new, most companies will want to keep the following in mind:
IBM’s workforce science solutions combine 25 years of behavioral expertise, analytics and talent management solutions with the largest content library and normative database in the human capital industry. To learn more, visit http://www.ibm.com/smarterworkforce.
This is the third and final post in a three-part blog series written by SMB Group and sponsored by IBM. The series examines talent management solutions and trends.
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Published by: electronicdawn Ltd.