People analytics is a field that is exploding in importance. In 2016 44% of surveyed companies are now using workforce data to predict business performance, up from 29% in 2015. That’s an increase of over 50%. This kind of analysis requires data from throughout the company (including financials) and even data from outside sources such as Glassdoor scores, social networking platforms, and hiring data.
In today’s talent management environment, retention is a huge issue. Yet unless you analyze this data with factors such as performance, you will not achieve the strategic success that drives improvements in the bottom line. When you decide to consolidate your analytic function it is important to include regular, statistically significant employee surveys and don’t forget to include your customers, channels and community in the process.
Divvy Engagement Solutions works with companies to change from a fragmented approach for incentive and recognition programs to an integrated program focused on performance gains.
Before organizational change can happen, it is vital to lay the groundwork for the long-term success of your new integrated engagement approach. Key to this, is understanding the current macro culture of your organization and the commitment of key leadership to support the organizational changes needed to improve corporate culture. Divvy’s years of experience helps identify the top goals of your engagement initiative and the challenges facing your company as changes are made. If the top leadership of your company is not maintaining consistent focus on this issue, implementing change in your recognition programs on a departmental level may be necessary.
When redesigning our own business Divvy faced a crossroads. We had built up a line of successful business by focusing on recognition. We were the first to market with an online, points-based recognition system with an electronic catalog. Many of our competitors are sticking with this approach and offering enhanced dashboards and other features. Divvy took a different and more ambitious path. We built a consultative company with a fully featured software platform that is mobile and social. We offer a full suite of services from design, implementation, and communications. And for each corporate client, we develop a unique data analytics program including employee, customer and channel surveys. We also feature a full set of dashboards for managers to track performance and budgets in a consolidated application.
Here’s an example of our People Analytics. Most sales incentive programs are focused on leaderboards and multiple contests to spur motivation and competition. Divvy brings a new approach to the table, a sales program designed to raise the level of middle performers and to identify best practices by sales managers. This is the key to driving more sales contribution to the bottom line. It also measures the engagement levels of your top and lagging salespeople with a predictive tool that give sales departments the needed insight into significantly increasing overall sales performance. Among the most powerful features is the ability to measure and increase the retention of top performers. Additionally this analysis is very useful for long term sales budget preparation and a huge benefit to sales leaders.
Here’s another example. Customer service is the lifeblood of many businesses. Call centers are a big part of the relationship that your company develops with your customers. To achieve higher customer loyalty, think of the brand ambassador concept. If your customer service people are trained correctly, have the necessary tools, are highly engaged and motivated, they are much more likely to have success as brand ambassadors. And, they are much more likely to create brand ambassadors among not only your customers but in the larger community as well. This cycle is promoted by an integrated engagement program, your best guarantee for future company growth and profitability. Divvy is a leader in ancillary programs for call centers that are proven to improve employee performance through ongoing training and evaluation.
A new generation of employees and customers require new corporate strategies. Companies that embrace People Analytics highly outperform their competition. The Engaged Company Index shows that the stock price of highly engaged companies was 14 percent higher on an annualized basis from 2012 to January 2017. We are on the front lines of this new business model. Divvy through its participation in the Enterprise Engagement Association is helping to design the future of the upcoming ISO standards for engagement. We look forward to working with the leading companies in the US to bring innovation to the emerging field of corporate engagement.