Tuesday, Sep 03 2019

Tips for Using Data to Increase Your Business's Productivity

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Tips for Using Data to Increase Your Business Productivity

Thanks largely to digital transformation initiative and the massive influx of data companies can access, organizations have the ability to optimize operations and enhance productivity. However, this can only occur when data is harnessed in the correct fashion. Not all of the collected information has value when it comes to increasing efficiency and the quality of outputs. As a result, companies need to look in the right areas if improving productivity is the goal.

If you want to use your data to increase your business’s productivity, here are some key points to examine.


Workflow Bottlenecks

From an operational standpoint, workflow bottlenecks have a dramatic impact on overall productivity. Issues that hinder the pipeline prevent tasks from being completed in an efficient and logical manner, causing some employees to have to wait while others play catchup.

By using data to examine workflows, you can identify pinch points that are harming productivity. Then, you have the ability to reallocate resources, adjust processes, or take other active steps to optimize the workflow.


Recruitment and Retention

Candidate and personnel data can provide businesses with significant insights regarding recruitment and retention. This can include identifying portions of the recruitment process where top talent tend to drop out, a sign that a problem may exist in the candidate experience, the hiring process is too slow, or other issues are harming job seeker engagement. Additionally, you can review data to analyze the effectiveness of various recruitment approaches, resources, or platforms, giving you the ability to adjust your methodology.

On the retention front, personnel data can potentially highlight patterns that may indicate the presence of various internal shortcomings. This is especially true if exit interviews are conducted, providing you with insights regarding why a professional chose to seek out opportunities elsewhere and enabling you to find potential patterns in that information.

For example, you may learn that your compensation doesn’t meet or exceed what is offered by competitors. You may discover that an issue with the culture or a particular manager are strong influences in the decision to leave.

After reviewing your data, you are better equipped to handle the needs of candidates and employees. As a result, your recruitment efforts could be more successful, and retention can improve.


Performance Analysis

Data allows a company to examine employee performance in greater detail. This can involve a review of productivity at the organizational, team, and individual worker levels. You can identify larger trends and then drill down to locate their potential sources. As a result, you can discover procedures, processes, or methodologies that are hindering or helping productivity. Plus, you can consider the various factors influencing the overall level of success, giving you the ability to take appropriate action in a way that is most likely to generate a positive result.


Learn How You Can Use Data to Enhance Productivity for Your Business

Ultimately, a business’s data can be a powerful resource, but only when harnessed correctly. If you’d like to learn more about using data to enhance productivity, the staff at The Armada Group can help. Contact usto discuss your questions with one of our talented team members today and see how our workplace productivity expertise can benefit you.