Big data it is a huge trend in today’s business world. It’s in the headlines and organizations are trying to gather and use it effectively. Big data analytics has expanded its scope yet again, the hot new topic being employee analytics. Actually, Deloitte has a fancier name for this leading-edge HR trend: High-impact people analytics.
Research conducted by Deloitte illustrates that when an organization reaches a high level of maturity on high-impact people analytics it is significantly more successful. The research demonstrates that organizations using people analytics in effective ways report 82 percent higher three-year average profit than “low-maturity” organizations.
An 82% increase in profit is a huge return. How does organizational success like that come about? Well, Deloitte provides a road map to develop a high-impact people analytics organization.
The Bersin Deloitte consulting study outlines seven key findings on how an organization can mature their people analytics. This blog will focus on one key finding from this study, which is: “using multiple listening channels.”
Click here and scroll until to you see the concept of Enterprise “listening” architecture.
HR in today’s organizations is complex as many organizational problems have multiple causes. If there are multiple causes, the more information channels an organization can access, the greater the probability that it can solve a problem effectively.
This is where the use of multiple listening channels comes in. There are a number of ways to listen to what employees are saying about an organization. For example:
- Organizational cultural audits
- Frequent pulse surveys
- Anonymous feedback tools
- Performance reviews
- Coaching programs
- Exit interviews
- HR key performance indicators
- Social media monitoring
Which of the above channels is your organization listening to? Deciding which channels to listen to is key to designing your listening architecture. HR has always been about taking subjective information and making it more objective. By using sophisticated people-analytics and developing the correct listening architecture you can greatly improve your capabilities, which will in turn increase your organization’s chances of success.
Pick three of the above listening channels, and for each one research a system that would allow you to collect credible information.
If you were an HR director, and were asked to pick only one listening channel, which one would you choose as your first priority and why?