Eight Places for Smaller Companies to Use Big Data to Drive Performance
But do Companies have data (and the right data) on employees or potential employees? (Let’s leave the BIG companies out of this discussion. Big Companies usually are swimming in BIG data on all aspects of employees.)
NOTE: I am not advocating an invasion of privacy. I am against anything that even smells like an invasion of someone’s personal life.
However, at work, are we using the right data to drive decision making at the HUMAN level – that is, are we still using our “gut” to make hiring decisions, promotional decisions, and all the other “stuff” associated with HR that finds its way into developing our Performance Culture.
Smaller Companies ($40mm and under) usually have minimal data on their employees past the application. And here is where the opportunity for using human resources to push up profit is greatest.
Here are 8 places where human resources data may help push your Company into the Big Leagues.
1. Do you have a back up plan in case someone ups and leaves your company? Consider doing a good Team Plan, Individual Plan, and a Future Needs Plan for your people. The Outcome: an agreed upon identification of critical roles and skills and the relationships among teams/individuals for performance.
2. Do you know who your High Potential employees are? Are you taking care of keeping them at your company vs. having them split with all your information to a competitor?
3. Do you start building a “performance oriented” company before you hire someone? Do you continue with focusing on performance while you are On Boarding individuals?
4. Are you using the mass of data on Hiring Best Practices to get the best people in your company? The Outcome: if you use this data is a high potential employee who looks for Opportunities within your company instead of outside it.
5. Are you building resilient teams that can solve issues in real time and cross functionally?
6. Are you comfortable that your company is keeping at the same level of speed in Innovation and Risk Mitigation to ensure continuing success?
7. Are you building Individual Career Resilience so when changes are made in your structure which requires you to change people, your former employees leave feeling that they have left with care, dignity and (most important) the skills they need to find a job.
8. Do you have mentors who are helping leadership to continuously analyze and focus on employees and performance?