4 Things To Know About Workforce Intelligence Software
Employees are crucial to the success of any business. They contribute valuable knowledge and skillsets, provide valuable insight into customer and client experience, and allow the company to reach greater heights.
Despite these contributions, demotivation, turnover, and absenteeism persist in any company’s workforce. This might be the reason why employee management remains a healthy subject that piques people’s interest. This interest even extends into the domains of artificial intelligence. An example is Revelio Labs, a workforce intelligence firm that creates tools and software to understand a company’s workforce dynamics.
But what does workforce intelligence software do? How does it work? If this concept sounds new to you, then read on to learn more about it.
1. Workforce Intelligence Software Works With Three Types Of Data
Workforce intelligence software uses a data-driven approach in understanding a company’s workforce. It collects and analyzes three kinds of data from various sources—structured, semi-structured, and unstructured.
- Structured data conforms to a particular code or format. They can easily be identified and understood by machine learning. Examples of these data include workers’ online habits, browser history, activities, and even employees’ use of external device inputs.
- This type of software can also work with semi-structured data, such as surveys. Surveys combine quantitative information with variable human input.
- The last type of data that workforce intelligence software works with is qualitative or unstructured data. This type of data refers to information found in emails, social media conversations. Though they might be unconventional for machine learning, unstructured data provide a more accurate representation of an organization’s workforce.
2. The Benefits of Workforce Intelligence Software Go Beyond The Human Resources Department
The HR Department gathers and analyzes data to conduct its functions. This isn’t limited to knowing employees’ time-ins or time-outs, though. The software also provides the department insights on the trends in employee productivity and engagement. It also helps HR with its recruitment and succession decisions.
Additionally, this software’s ability to handle and analyze the three types of data also impacts leadership in small businesses. By analyzing data on time cards and employees’ online habits, owners can restructure their finances and think of other ways to save costs.
If you’re an SEO company or a social media marketing firm, workforce intelligence software can also help you analyze your employee’s capabilities and effectiveness. This can be done by allowing unstructured data, like social media conversations, to get collected and analyzed.
Regardless of your company size or industry, you can benefit from having workforce intelligence software in your organization. This is particularly true if your workforce is a crucial component in the business plan’s success.
3. Using Workforce Intelligence Software Might Require You To Assess Your Company’s Flexibility
Organizations need to know that adopting software requires flexibility. It might sound simple, but integrating software to study people’s productivity, behavior or engagement might mean that you affect many departments.
This flexibility starts from the most straightforward task of getting the software installed in the company computers or mobile devices. This type of software might require computers with higher memory. If your company doesn’t have those, are you willing to spend more to get them?
Other questions on flexibility can include:
- Will the software still work if the company’s population tripled in two to three years?
- How similar are its features to how the company operates in real life?
- Is the company willing to spend on training its employees for the new software?
These are a few of the questions one can ask before adapting workforce intelligence software. Knowing the answers to these can help you make a better decision.
4. Using Workforce Intelligence Software Would Require Business Planning
Before adopting any form of technology, you must have a deep understanding of your organization first. This will force you to assess if the software is something that your organization truly needs. If it is, it’ll at least allow you to create a comprehensive plan on how to maximize its benefits.
Remember that no one likes to have a white elephant in an organization, especially if it’s software that promises to revolutionize the workforce.
Employee management remains a challenge to many business leaders and owners. Through workforce intelligence software, you can collect and analyze data for concrete action points to help organizations understand their workforce better. Before adopting this software, ensure that your organization has the flexibility and the right plan to maximize its advantages. Reinvent the wheel and understand your employees better.