Data analytics has proven to be a vital tool for companies across the globe. What used to retain criticism for not encompassing the ‘intangibles’ of business has now become the quantitative reasoning that drives more informed decision making in businesses. When CEO’s get on board and restructure into a data-oriented culture, profits have been shown to increase by 8 percent from BARC research. Analytics have been commonly used to uncover hidden trends in consumption that can help businesses realign themselves with their customers. For example, consolidating large sets of consumer data on social media can allow a company to reinvent their advertisements on platforms to target certain groups of consumers. However, the advantages of big data can surpass just the analyzation of consumer data. With The Predictive Index®, analytics is brought into the core of the organization – its employees. Cutting-edge software technologies use people data to help improve employees’ experiences, mitigate hiring risks, and develop an effective strategy for the company. The science behind PI is the key to unlocking the potential that will bring your organization success.
Improve Employee Experience
Employees want to see their expectations not just met but exceeded. This business intelligence tool has the ability to express the complex data gathered by the assessment into reports that simplify the behavior of an employee and how to interact with them. With PI’s Behavioral Assessment™, employers can collect data regarding the drives and needs of their employees, which can help make informed decisions about the resources required to better their experiences. These resources can then be effectively implemented to create a tailored style of management for each employee to fit with their work style. Enabling employees to work in a more personalized environment that aligns with their behavior increases their productivity and mental well-being, leading to better performance.
Mitigating Hiring Risks
Bad hires cost organizations millions of dollars every year. With data implementation in the hiring process, the benefits of hiring workers that excel in their positions can be optimized. The PI Behavioral Assessment not only describes a person’s best work environment but also generates a detailed report of how that person fits into the position that you’re hiring for. Matching a candidate with a position strengthens the chance that the candidate’s talent will the correct fit for the requirements of that position. In fact, 98% of PI clients state that the software platform has enhanced their hiring process, with 70% confirming that it removed bias from the process. The immense perks of data analytics can be applied to making informed hiring decisions that build the foundation of companies – people.
Developing an Effective Strategy
Gathering and analyzing data on employees can help an organization determine what strategies are necessary to achieve success with the talent they possess. PI clients attest to the fact that data analytics lead to improved strategy, with reports indicating a 16% increase in strategic success after implementing the PI software system. Prioritizing analytics as a critical part of the business’s internal operations allows for the styles and behaviors of the employees to be aligned with the objectives of the business. Aligning talent and business strategy shapes an organization with a strategy that best fits their goals, leading to overall success.
Over 26 percent of Canada’s Top 500 Manages Companies have taken advantage of the analytics provided by PI to better the experience of their employees. These organizations recognized the power of having a data analytics system that not only provides resources to collect data but also generates guides and tools to help comprehend how the data can be of use to the organization. Although PI’s software analytics system doesn’t ensure advancements, the information it brings to the table for better decision-making certainly aids clients to find the right path to success.
Predictive Success empowers leaders to optimize workforce performance through proven talent management methodologies, high-performing team building technology, and collected employee or potential candidate data. To learn more about how you can work with our team, please contact us today.