How to use free-text data to get inside the heads and hearts of employees.
Unstructured data is where the answers live.
Unstructured data can provide deep insight into what’s really happening within an organization. Consider employee surveys. Open-ended, free-text responses provide richer detail than answers to rating-scale style questions. While enterprise companies have no shortage of this data (80% of organizational data tends to be unstructured), it’s been hard to analyze and work with—until now.
In anything but name, data is today’s most used currency.
In the current business paradigm, structured by big tech firms over a decade ago and replicated since by a number of online platforms, individuals willingly provide their personal information in exchange for a service. Personal data is subsequently repackaged – anonymised or not – and sold to advertisers and marketers.
Managers play a critical role in increasing employee engagement. The best data and programs in the world won’t improve engagement without manager participation.
It has been identified that managers that are directly involved in their employee engagement create stronger teams, that perform at a higher level, so why is no-one embracing it?
It scares me sometimes when I think about the big decisions I’ve made on gut feel and will probably continue to make relying on my instincts.
Making sense of people data is a struggle for many HR professionals. People analytics is only effective when data collection is focused on achieving a particular management objective - such as improving talent management processes, such as recruitment or retention, or to demonstrate HR's contribution to the value/ROI of these processes. Despite this core concept of people analytics, many companies simply analyse the data nearest to hand – with the results being anything but insightful.
A lot is being read, written or heard about GDPR – it’s relevance, implications to institutions that collect personal data, and ramifications of non-compliance. Therefore, this will not deal with any of these in detail. Keeping it simple we will try exploring 4 specific impact points within financial institutions because of this regulation, and therefore what changes this may ask to be brought about in systems, while meeting its terms under the 99 articles that GDPR comprises of.