Is Workforce Analytics Worth the Investment?

Utilising Big Data and statistics through analytics can sometimes be a daunting task. HR software is rapidly innovating to make the task easier and also to ensure that companies – both big and small – can save and make money in the process.

It can be difficult to convince traditional HR professionals of the benefits of technology and analytics. Brian Fruchey (Analytics Manager for Talent Acquisition at eBay) says this is especially the case in HR “where analytics driven decision-making doesn’t come naturally.” Nonetheless, there is a great deal of evidence, increasingly mounting over time, about cost-effective technology that can persuade even the staunchest sceptic. For instance, Josh Bersin (founder of Bersin by Deloitte) applauds the Cloud and its contribution to the development of HR software and “applications that help you ‘do work’ – set goals, learn, manage your time – rather than help you do an HR process.” Such technologies can help with recruitment, absence management, performance management and much more and can ease the workload of HR teams at the same time as increasing efficiency and reducing paper trails.

Technology alone won’t help HR teams save money. In fact, they require the involvement of management and employees as well as investment in a change in culture and a real buy-in to improve productivity. As workforce management inherently deals with difficult employee relations issues, it is important that new technology and software is well chosen to ensure that it fits your specific requirements. If properly chosen, the benefits that can be reaped are definitely worth the effort. Take for instance the investment of companies in cutting-edge absence management technology. Having an easily-accessible piece of software which captures data in real-time and alerts relevant persons accordingly can ensure data-driven decisions are made which accurately and positively affect businesses.

Honeydew Health’s case studies clearly show how this can be the case. Irrespective of the number of employees within an organisation, effective and professional management of any form of absence can save costs and increase profits. It doesn’t make too much of a difference what sector your organisation operates in either. For example, a well-designed stress awareness initiative can have a huge impact without a huge price tag. Measuring the results doesn’t have to be costly, either, because Engage provides good, real-time data at an affordable price.

Evidently, analytics and software in the area of absence management have numerous noticeable benefits. Similar benefits can also be reaped from other forms of HR software. However, shop around and ensure that the software meets your requirements. After all, there are an increasing number of HR tools available, so it’s important to do your research and make your investment worthwhile.

Like what you saw in the  ? Are you wondering how your company can achieve similar results and effectively manage workplace absence? Based on absence data collected in Engage, you will be able to highlight any problems through trend reports and trigger alerts. With transparency around company absence, proper programmes can be put in place to address any current issues. Start your FREE 30-day trial today!