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HR Analytics Tools

HR Analytics Tools – The Game Changers

By HR Tech No Comments

HR has historically been one of the most traditional, conservative fields in business. That approach worked for decades, but a lot’s changed in recent years. Globalization and digitalization have reshaped the business environment.

With the rise of disruptive players, the HR team needs to rethink its approach to people management. Even with the advent of automation, human resources are still considered a vital aspect of the business world.

With analytics and the availability of big data, there are many opportunities for human resources professionals to improve the ways that they work. In this blog, we’ll explore how the future of human resources looks. With innovative changes like the widespread adoption of analytics, now is an exciting time to be a part of the human resources field.

Human resources professionals are always seeking to improve the work environment for their clients and employees. One of the most significant breakthroughs in HR was the widespread adoption of analytics.

The idea of using data to better understand workplace culture and human relationships was unheard of in the past. This new method of learning and improving is sure to change how groups view and interact with the HR field. As the ultimate objective of the HR department is to always be improving, the widespread adoption of analytics is sure to continue to help companies now and in the future.

What is HR Analytics?

Also known as talent analytics, HR analytics are “the application of considerable data mining and business analytics techniques to human resources data,” – Start-Up Focus

Transforming the world of HR

HR analytics intends to give knowledge into how best to oversee employees and arrive at business objectives. Since such a lot of information is accessible, it is significant for HR groups to initially recognize which information is generally important, alongside how to utilize it for the greatest ROI.

To effectively use HR analytics, organizations should assemble information and afterwards use it for navigation and cycle improvement. Since more organizations understand that HR analytics and data assists them with employing and holding the right ability, organizations are investing in HR analytics tools alongside prepared experts who see how to mine and apply them.

Analytics tools and technology are now more accessible than ever. Companies can purchase analytics solutions off the shelf and adopt integrated, cloud-based HR systems easily. This puts integrated HR data within reach for both small and large businesses. However, it is important to note that those at the forefront of HR analytics go beyond simply utilizing tools.

HR Analytics in the workplace

HR Analytics can assist businesses with settling on more brilliant choices in areas such as the following

  • Turnover

Utilizing HR analytics enables teams to predict the risk of turnover by function, location, and position.

  • Retention

HR analytics can identify where the highest risk of turnover is, along with which individual employees are at risk.

  • Talent

In terms of new talent, HR analytics can identify which new hires will be high performers.

In general, predictive analytics can identify common factors and important patterns.

HR Analytics and its untapped opportunities

It is imperative to take note that access to HR Analytics is just the initial step with regards to utilizing information and data to further develop organization arrangements and business practices. As Deloitte points out, “The real value is in turning these insights into change that delivers business value.

The hardest part of people analytics is implementing the changes recommended by the models, which call for people analytics to be accompanied by sound change management practices.” With innovative changes like the widespread adoption of HR analytics, now is an exciting time to be a part of the human resources field.

The world of HR is changing, and along with it, the role of the HR professional. As technology has become more pervasive, the practice of Human Resources has shifted from a field that is solely focused on the basics of hiring, firing, and benefits to one that is focused on employee engagement, happiness, and retention.

The next time you’re looking to fill an HR position, keep an eye out for qualified professionals who are interested in more than just the day-to-day functions of the HR department.

As the human resources profession continues to grow and evolve, we’ll need to stay flexible and find new ways to meet the needs of both our employers and employees. We’ll also need to make sure that we continue to learn about the latest trends and technologies, and that we have a solid understanding of the history of our profession.

In the future, we may even see human resources in a completely different light from what we are accustomed to today, but one thing will continue to remain the same—we will always be here to support and advocate for our employees. So, what are you waiting for? Learn more about the ever-expanding HR Analytics, visit inQsights.com now

workforce analytics software

The benefits of choosing workforce analytics software

By HR Tech No Comments

When you’re managing a large workforce, you have to know what’s happening at all times. You want to make sure your workers are productive, but also that you’re doing your best to protect their health and wellbeing. It’s not easy managing a big team, but it’s made easier with workforce analytics.

In this blog, we take a look at what it is and how it can help. Companies have the capability to collect data, but analytics is where they get value out of the data. Analytics helps companies make proactive decisions, and workforce analytics helps companies make better decisions about their workforce.

But what is workforce analytics and what does it entail? In this blog, we will look at workforce analytics, its different elements and how it can help a company make better decisions for their workforce.

Even so, an organization’s human capital is perhaps its most important asset. Building an in-depth understanding of your staff can help you come up with better solutions and improve your competitive edge. Workforce analytics — sometimes called people analytics — can empower your team by providing better insights as to what works and doesn’t.

Furthermore, it can help uncover tools that employees need to succeed. Let’s begin by breaking down the meaning of workforce analytics.

Whether you’re managing a group of 50 people or 5,000 people, you want to know what’s going on at all times. You want to know what’s happening today and what’s happened in the past. You want to know what’s going to happen tomorrow. The only way to achieve all of these is through workforce analytics.

Workforce analytics is the process of collecting, analyzing, and reporting on workforce data in order to make informed decisions about the future of your workforce. Workforce analytics is no longer a nice-to-have. It is a must-have. From a single department to an entire organization, analytics is about knowing what’s going on, why it’s happening, and how to make it better.

Workforce analytics is about the past, present, and future of your workforce. It provides deep analytics for workforce trends, including current workforce capabilities and gaps, in order to improve business performance.

What are some key advantages of workforce analytics?

More so than tracking the number of employees and what they’re making, workforce analytics provides a comprehensive view of your organization’s workers designed to interpret historic trends and create predictive models that lead to insights and better decisions in the future. Some of the key benefits of workforce analytics include:

  • Observe regions where effectiveness can be improved with automation –

While workers are a resource for an organization, in some cases the undertakings they do can decrease their usefulness or give negligible returns. Workforce analytics can find regions where errands can be consigned to machines by means of computerization, permitting labourers to rather commit their endeavours to more significant and important exercises.

  • Improve workers’ engagement by understanding their needs and satisfaction –

More than simply looking for firing and hiring information, workforce and people analytics can help a company understand why their employees are not performing their best, and the factors that are impacting productivity. This is more to maintain the current workforce instead of replacing it. The goal is to uncover those factors affecting performance and engagement and to overcome them by fostering better conditions.

  • Create better criteria for hiring new staff and provide a better hiring process –

Finding new talent is always complex regardless of a company’s size or scope. Workforce analytics can shed light exactly on what is needed from a new hire by a department based on previous applicants, their success, and the company’s needs. More importantly, they can understand new candidates based on this historical data to determine whether they would be a good fit or not. For instance, a company seeking to hire a new developer may think twice about hiring a server-side programmer after several previous hires with similar experience didn’t work out.

Workforce analytics enables data-driven workforce planning, analysis and management, and specifically with workforce optimization, which is the process of optimizing workforce performance. Workforce optimization is a key component of workforce analytics, which is a subset of business analytics.

From workforce analytics to data-informed workforce planning and analysis, workforce managers are able to make more informed decisions to help their company be more productive and effective. At inQsights, our workforce analytics help companies do just that. If you want to learn more, contact us at inQsights.com

Predictive Analytics in HR

What are predictive analytics in HR and how is it changing HR strategies?

By HR Tech No Comments

Predictive Analytics is finding out the future outcomes, from the past data. It is data analytics that can help you make predictions on the future of the company. Using the data on the past, you can predict the future.

How can predictive analytics help companies?

A company can use predictive analytics to predict the sales and revenues before the company even takes a lead. The company can predict the probable demand for the products or services from the data of the past. Companies can predict the future demand for the product or service with the help of predictive analytics.

Predictive analytics are data points that are everywhere. It is in its essence a technology that learns from existing data, and it uses this to forecast individual behaviour. This means that predictions are very specific. So how do these predictive analytics work? Predictive analytics involves a set of various statistical (data mining) techniques that analyze historical data and outcomes.

These techniques then try to create a formula, or algorithm, that best mimics these historical outcomes. This algorithm then uses current data to predict outcomes in the future.

HR Analytics can possibly Change your Business Outcomes, as you Desire

Applying a predictive model in HR teams has shocking results over a company’s income. Predictive HR Analytics empowers more noteworthy and faster decisions utilizing HR metrics. HR predictive analysis can advance its effect both on employees and clients, alongside the general business.

At the end of the day, HR teams can profit from investigating and gathering information of representatives for checking, tutoring, working on the worker’s undertakings just as the business tasks and that it enhances the association.

HR predictive analytics gives extra influence on HR leaders by dissecting and analyzing the existing data the current information, past encounters, and giving them bits of knowledge on the future results. It additionally helps them in getting ready for what’s to come.

Predictive Analytics is Optimizing and Enhancing HR Strategies

  • Eliminates turnover issues

With predictive HR analytics at your disposal, you can break down information in the context of topographical regions, explicit capacities, and so forth. With the help of predictive HR analytics, one can filter the data from the options of role changes, commute times, engagement rates, performance issues, and many more.

  • Improve Talent Management Processes

If you want to find out which of your employing systems are working out? Which campaigns have been fruitful? What sort of ads is yielding the most outcomes? Predictive HR analytics is the answer for all employment issues and concerns.

  • Limit Risk and Forecast Better to Stay Prepared

With predictive HR analytics, organizations can keep risks at bay. It helps HR leaders in anticipating, which employees require preparing, the executives’ consideration, and so forth. By anticipating an awful circumstance and overseeing it properly can assist with lessening hazards, legitimate issues, and taking out superfluous expenses for the organization.

A game-changer for HR strategies

As the previous examples have shown, the results of applying predictive HR analytics can be astounding. HR divisions might conceivably save (or even earn) their organization a great deal of money with these data points. Furthermore, HR can help their supervisors and leaders settle on better choices by applying predictive HR analytics and utilizing the right HR measurements and metrics.

The capability of predictive HR analytics exhibited by these cases clarifies that prescient it is setting down deep roots and is here to stay. Predictive analytics is used to find out the future outcomes, from the past data. It is data analytics that can help you make predictions on the future of the company.

It helps in knowing the data and accordingly it predicts that what type of people are more likely to purchase the product in the future and what is the market of the product. The data scientists use various data mining tools to find out the hidden patterns & knowledge from the past data.

Predictive analytics has been around for a while now but only recently has been able to predict the future of the business. With the help of artificial intelligence, this data analytics can use past data to predict the future of the business and provide actionable insights that can be used to take the business to the next level.

We hope you enjoyed our post on predictive HR analytics. It is a very interesting subject and shows how important data analytics is to business. With the right data, you can predict the future and with the wrong data, you can predict the wrong future. We hope that you have found this blog post useful and if you would like to learn more about predictive HR analytics, please contact us at inQsights.com now

Data Visualization Important in HR Analytics

Why is Data Visualization Important in HR Analytics

By HR Tech No Comments

The adage, “a picture is worth a thousand words” has never been more relevant than in today’s popular visual media culture. Visual communication is used everywhere—in education, media, entertainment, art, and now more than ever, in the world of business.

What is Data Visualization?

Data is everywhere and the need to visualize that data is becoming more and more important. Data visualization is one of the most important fields in today’s business world, but many people aren’t sure what it is, why they need it or how they can use it. In this blog, I will talk about the basic points of data visualization, its importance and how you can use it in your business.

Data Visualization is an efficient way to communicate information, particularly when there is a lot of data. This is especially true when you want to tell a story, rather than just present the data. This blog will look at some of the different data visualization tools that are available as well as some tips for creating better data visualizations.

Companies are recognizing the massive capability of envisioning their information—particularly with regards to revealing bits of knowledge and better imparting to partners. (HR) groups, specifically, are seeing the tremendous advantages of information perception.

HR has access to an enormous assortment of information, for example, employee data, pay information, engagement scores, feedback, surveys, email responses, and performance reviews. Fortunately, advances in technology have made it feasible for associations to store, model, and change their HR information into significant visual bits of knowledge allowing:

  • Faster, more accurate people decisions based on in-context insights
  • Better collaboration with other departments to create effective HR resources and programs
  • Effective workforce planning with data from across the enterprise
  • Proactive decision-making during uncertain business environments with a comprehensive view of all business data across the enterprise
  • Gain leadership buy-in with easy-to-understand dashboards and visualizations

Businesses face an ever-increasing flow of data and are challenged with gaining insight from enormous data lakes. When data is translated into insights, you can better understand your business processes, make informed decisions, and pivot your business strategy confidently.

Effective visualization helps make complex data more accessible, understandable, and useable.

The role of Data Visualization in HR

The purpose of data visualization is to simplify data and make it easier to understand. It also helps to make the data more interesting. In other words, data visualization is a way to add appeal to the data. There are several ways to visualize data. One way is to look at it in a graphical form.

This is one of the most common techniques. A chart forms a visual representation of data. Another way is to look at it as a table. This can be in the form of a bar chart, table or any kind of table. A third way is to look at it as a graph. This too can be in the form of a graph, table or chart.

The fact of the matter is, this huge measure of HR information contains incredibly significant bits of knowledge, KPIs, industry patterns, and expected future results. What’s more this data can furnish HR with a way to convey vital suggestions and drive better encounters for its organization and individuals.

While this information is fundamental for driving business achievement, it’s an enormous errand for any office to gather and figure out all that HR data and this is where data visualization and analytics can help.

Data visualization encourages HR groups to interface and draws in with their information and measurements—in a way that is effectively consumable by all. When done accurately, Data visualization empowers your employees to get to reality all the more rapidly—a vital part of high-stakes independent direction and decision making.

Data visualization is a lot more than just charts and graphs. It is an artful form of communication that requires a high level of skill, but the payoff is worth it. In the digital age, there is no better way to communicate information than through data visualization. Data visualization is a great way of making your information easier to digest.

When you communicate data in a visual way, it becomes much easier for the people who are looking at it to understand your message. We hope you enjoyed our blog about how to present data visually. Data visualization is a great way to present data to a wide audience in an easy to comprehend way.

We hope that this blog post will help you create beautiful data visualizations in the future! If you have any questions about data visualization, we are always available to answer them. Just contact us anytime at inQsights.com. Thank you for reading!

Workforce Analytics

A simple guide to Workforce Analytics

By HR Tech No Comments

Workforce analytics helps you take charge of your workforce. If you want to manage your people in a data-driven way, then workforce analytics can help you. It can help you understand how your workforce is performing and how they are developing. You can use workforce analytics to learn how to predict workforce demands and how to build a better team.

The technology has grown more sophisticated in recent years, with the analysis it produces going beyond hiring and adjusting department structures to include whether such moves provide a return on investment (ROI) for the organization’s bottom line. This blog will explore what workforce analytics is, how it works and how it can help you.


What is workforce analytics?

Workforce analytics is a combination of software and methodology that applies statistical models to worker-related data, allowing enterprise leaders to optimize human resource management.

Difference between HR analytics and Workforce analytics?

All things considered; HR analytics would be any investigation performed by individuals from your HR division. It changes with propels in innovation and different patterns and as a rule, envelops investigation done to further develop HR rehearses. For instance, analyzing processes like how long it takes to fill a vacant position.

Workforce Analytics takes a broader perspective look at the actual work from an expansive perspective, rather than just zeroing in on individuals.

Regardless, the term you use is less important than the concept of using data to inform your decisions about how to improve employee-related processes and performance. You’ll often hear these terms used interchangeably and many people will have varying definitions.

 

Key Takeaways:

  • Workforce analytics adds value by helping the workforce the executives and HR methodology to business results.
  • The use of workforce analytics platforms is prevalent across various industries, and demand for innovative workforce management use cases in HR continues to grow.
  • Workforce analytics optimizes and measures workforce planning and performance in areas like recruitment with key performance indicators (KPIs).

 

What is workforce analytics used for?

  • Recruitment and talent management: The critical metrics that HR teams use to track their ability and efficacy at sourcing and managing talent.
  • Employee experience: This encompasses interactions from the moment candidates begin interacting with a company until the moment they leave.
  • Employee performance: Common metrics to help track your workforce’s effectiveness based on productivity measurements and output
  • Training and development: These metrics are essential workforce planning indicators that reveal the efficiency and effectiveness of onboarding, training, and upskilling.

 

The importance of workforce analytics

Remember that workforce analytics is the practice of utilizing information and factual models to inspect worker-related data and their impact on business execution. Analyzing and reporting on worker-related data is a critical part of human resources. This data helps you distinguish potential pain points and settle on informed choices on the best way to meet improvement objectives.

  • Optimize scheduling
  • Discover labour inefficiencies
  • Monitor employee engagement
  • Create high-functioning teams
  • Address skill and knowledge gaps
  • Enhance onboarding and offboarding processes
  • Improve employee retention
  • Design efficient workflows
  • Control costs
  • Manage and mitigate compliance risks
  • Improve individual performance
  • Gauge employee wellness
  • Increase the value of employer brand
  • Benchmark against same sized companies

 

How to implement workforce analytics

  • Determine why: Before implementing a robust workforce analytics project, ask questions about the desired business outcomes and summarize the workforce problems the project addresses.
  • Gather high-quality, ethical data: This step involves identifying top-quality workforce data and determining the relevance and the type of information to collect.
  • Establish KPIs: Determine not only which workforce KPIs to monitor but also the target.
  • Create workforce analytics dashboards: Organize KPIs and other visualizations in meaningful and engaging ways for your decision-makers.

The future of workforce analytics

How is workforce analytics evolving? Modern workforce analytics flourishes with distributed computing developments, AI includes and coordinated human resource management systems (HRMS) that incorporate accounting, sales and CRM capabilities. Using workforce analytics technology and devices ensures exact and constant outcomes.

Workforce analytics is more than just a buzzword — it’s a critical component of the modern business decision-making process. Workforce analytics provides business leaders with the insights they need to make decisions that will improve the overall productivity of their workforce, helping them to better serve their customers.

If you’re looking to improve your workforce and increase your bottom line, you may want to consider a workforce analytics solution. Let’s look at three ways workforce analytics can benefit your business. We hope this information has been helpful to you! If you have any questions or need more information on the topic, please contact us at inQsights.com now!

Benefits of HR analytics

4 Benefits of HR Analytics critical for your business

By HR Tech No Comments

For HR professionals, data is the new oil. However, they need to know how to extract value from it. HR analytics helps them do that. HR analytics can help people leaders crunch previously unseen data and drive innovations in workforce planning. At the same time, HR analytics can also help people leaders get their arms around the big picture, enabling them to understand and act on their impact on the business.

HR analytics is a field that has been gaining immense popularity. It is a great way to understand the data that are available. Instead of looking at them as a series of numbers, they can be used to understand what is happening in the company, and how we can improve the current situation.

HR analytics has given HR departments a new level of insight and control over their businesses. The HR department is no longer responsible for the simple administrative tasks; they are now driving innovation, developing strategies and measuring results through data. Analytics allows companies to make data-driven decisions that improve business processes, reduce expenses and find new revenue streams.

HR is often regarded as a back-office and cost-incurring function. But times have changed. Today, HR is a strategic partner. It has access to a lot of data and analytics. Data that can help in driving business results. Data that can help in improving the workforce. Data that can help the organization in reaching its business goals. Data can help HR leaders to make decisions that can transform the organization. The data can be used in making better decisions.

  • Developing new products.
  • Finding ways to optimize costs.
  • Improving the quality of the workforce.
  • Finding new employees who fit the organizational growth requirements.
  • Improving workplace culture.
  • Improving employee engagement.
  • Developing different programs that can help improve workforce productivity.

HR analytics can help you and your organization in reaching your goals and HR analytics can turn historical transactional data into powerful predictive models that can drive many innovations in workforce planning. Here are 4 essential benefits HR Analytics can offer a business.

  1. HR analytics improves retention

Not only can HR Analytics help analyse any dull employee or their engagement, but it can also interventions which can be looked at by the time of departure of an employee.

  1. It improves employee performance

Employers can now learn about what motivates their staff members as well as what blocks them from reaching their maximum potential with the help of HR analytics. These insights that are collected by data & HR analytics goes further than just tracking performance and evaluating motivation.

The data can be further analysed to identify patterns and a plan of action can be formulated and can also be implemented to improve performance.

One of the examples here we can provide is Helping a Mid-Sized E-Learning Organization Scale Up. The outcome was that the client has achieved their business objectives within 3 years and has almost doubled in size – both in financial and human capital terms.3. It enables better workforce planning

Predicting attrition clearly links to improved workforce planning – especially for roles deemed critical.

  1. HR analytics makes a real change to company culture

HR Analytics can map current organizational culture against intended culture, to see what is amiss and wherein the gaps lie. Research by Harvard Business Review finds organisations with greater intrapersonal cultural diversity had higher market valuations and produced more and higher-quality intellectual property.

While HR has always been an important part of any business, the role has become much more pivotal over the past decade. As businesses are becoming more data-driven and analytical, the need for qualified professionals that can help implement and manage these practices is increasing. There’s never been a better time to join the HR field!

The new world of HR brings with it a need for new tools and systems, one of which is HR analytics. The tools are here, and the data is accessible, but it’s up to people leaders and their teams to find the data-driven insights that can drive real change. The use of analytics to promote better workforce planning can be transformative. Today, many companies are already employing analytics to make better decisions around the workforce.

In order to make the most of this data, companies need to make sure their people leaders have a good grasp on what analytics can and cannot do. Now that you have read our blog, we hope you feel more confident in your understanding of workforce planning analytics. If you have any questions about HR analytics, please don’t hesitate to contact us at inQsights.com Thank you for reading!

HR Trends

The HR trends to watch out for in 2022  

By HR Tech No Comments

Human Resource is one of the important departments of a company that needs to be given equal importance as the revenue-generating departments. However, in the fast-changing business environment, we can’t afford to keep HR as a back-office support function anymore.

We need to drive HR Transformation across the organization and make it a strategic function that can add more value. While 2021 was a year of reinventing HR and solidifying its new role, 2022 is going to be all about pushing the boundaries of how HR can add value. 

Work today is more unique in relation to what we might have at any point conceived, and that accompanies the two difficulties and openings for HR experts. Adaptation and planning for various futures will keep on being the situation as we brave the continuous interruption of the beyond a couple of years. This blog discusses the key trends that HR leaders should keep in mind for their roles in 2022.

  1. Working hybrid and remote.

While working remotely was needed during the pandemic for most, it is setting down deep roots. In what has been the single greatest change in the advanced work environment in many years, most businesses will permit employees to stay remote or pick their version of a hybrid work model.

Now we know it works, in some cases even more effective than being office-bound, HR leaders will need to adapt to the workforce of the present is mostly online. With many of the HR team also remote or hybrid, the challenge will be to manage all the people processes.

Recruiting, on-boarding, learning, professional improvement, correspondence, acknowledgement, and commitment need to now be conveyed online.

  1. Understanding the next-gen employees

Organizations across essentially every industry, and the HR group itself, should assemble a comprehension of the next-gen employees who are beginning their careers. That’s right, Gen Z is graduating and will be a hands-on chase as we go into 2022. While Millennials will continue to make up a large part of the workforce, HR executives should foster comprehension of what this fresher age focuses on with regards to their expert life.

They need greater adaptability around where they work yet in addition greater adaptability around their timetable. As an age, they see the worth in evident balance between serious and fun activities and will hope to squeeze work into life, not the opposite way around.

  1. Discovering talent within

With countless such employees making huge strides, there will be a constrained spotlight on basic abilities to critical skills in the coming year. Furthermore, one way of handling that is by tracking down those abilities inside. It’s important that employees know they can grow with you, in the way they want to grow. Rather than searching remotely for a job that fulfils their requirements, there is tremendous advantage in assisting workers with tracking down those job requirements inside.

  1. Emphasis on transparency, real-time connection

With employees now indefinitely geographically dispersed, and feeling less connected than usual, it’s important to keep them connected in real-time and keep celebrating the great work being delivered.

We are all Zoom-fatigued and Teams-tired, so we are not talking about Friday night hang out plans. We’ve done enough of that. The year ahead needs a more strategic approach to keeping the team connected and supported with the longer-term hybrid working model now likely our indefinite reality.

The most ideal way to do this, and offer extensive festivals, is through an acknowledgement stage that flawlessly incorporates into other work apparatuses.

  1. Staying Human

It tends to be simple with all the tech updates to lose the human component of HR however there has never been a more significant time for individuals to be sympathetic, understanding and mindful.

Each individual’s situation is special, some affected by COVID-19 and others not. Some love working from home, others feel trapped and uncomfortable with it. Some can’t wait to get back to socialising, others still shudder at the idea of even a small crowd

It is central to HR accomplishment in 2022 to remain human. Holding the human element, the capacity to tune in and care profoundly, to settle individual’s challenges while following through on the organization targets ought to be the main need for 2022. If you need a partner to watch your back in 2022 and beyond, visit inQsights.com and let’s connect!

“Human Resources isn’t a thing we do. It’s the thing that runs our business.”

—Steve Wynn

Performance management

How to use continuous feedback in performance management in the workplace

By HR Tech No Comments

Performance management is a hot topic in the HR world, and while there is a lot of buzz around new and modern systems and tools, we can’t forget about the old and traditional. HR and performance management strategies and approaches have grown and evolved over the years and the one thing that has remained is how employees and employees want to be managed. There are both modern and traditional approaches to the topic of performance management. Each approach has some benefits that are lost on the other.

This blog post is aimed at current and aspiring leaders in modern organizations. It details the differences in performance management between modern and traditional firms and how these differences can be reconciled.

Modern versus traditional PMS

As the technologies evolve real-time and data-oriented PMS (Performance Management System) becomes more relevant and important. Traditional PMS is focused on reviewing and rating employees’ performance at the end of the year and was focused on compliance and judging an employee’s work. Performance management systems need to be designed around the needs of the employees. Each company is unique and has different needs to achieve its goals.

  1. Use of technology in PMS

HR is one of the most innovative categories of tech today because the way we work has fundamentally changed. And now, there’s a growing emphasis on the employee experience as companies adapt to a new world of work, requiring greater attention to mental health, flexibility when and where people work, and more. The best organizations design a performance management system that’s uniquely suited to their employees. From goal-setting to continuous feedback, performance data to annual reviews, no two processes look exactly the same from one company to the next.

  1. Continuous feedback

The world of work is changing, and so are the demands on employers, managers, and employees. Performance management is not just about making sure you have the right KPIs and targets in place, it is about using them to drive continuous improvement at work for the benefit of the business and the individuals.

  1. Development orientation

“Focusing on the “what” of leadership development would not be a bad place to start. However, a more effective approach is to start with a broader perspective on leadership development and then zoom in to specific development needs. Companies need to focus on what the people in the organization do in order to support the strategy. Performance management must be focused on what you want people to do; not what you want them to be.

With the right tools in place, employees will be more motivated to be a part of a successful team. Great managers are always looking for new ways to develop their teams. Performance management is an essential skill for any manager, especially if the business is moving towards continuous feedback and performance management. We hope this article was insightful and if you want to learn more, be sure to reach out to us at maya@inqsights.com

HR coming to the Tech party

HR (finally) coming to the Tech party

By HR Tech

Looking inwards at the domain we represent, one of the big opportunities for the Human Resource function in organizations is to embrace digitization. HR has lagged other functions in adopting technology and outside of large integrated platforms, very little innovative tech exists in the domain. New tech developments, the business ask for ready information and a burning need for efficiency driving innovative HR services have possibly created the environment for HR to finally step into the information age.

Solutions like virtual on-boarding, e-Learning, remote performance management, and ensuring a net positive Employee Experience (Ex) have all been experimented with in the last 9 months. We envisage a push towards more plug and play tech tools in HR, going beyond traditional large scale enterprise solutions, and targeting processes beyond hiring.

We see HR digitization & People Analytics playing a significant role in driving organization productivity measurement, Employee Experience interventions, online talent assessments and tech enabled benchmarking in the future.

All in all, exciting times ahead in the HR Tech space!