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Signup for our ecourse: How to transform HR with people analytics

Take the first step towards mastering your employee engagement data!

Signup now to receive the following chapters:

1) How to Transform HR With People Analytics: An Introduction

2) Why Does People Analytics and Engagement Matter?

3) An Unlikely Duo: HR and Marketing

4) Finally: Using Your People Data

People Analytics is a pretty exciting destination for HR. The power to understand your people all year round and present HR initiatives alongside strategic data focused evidence has got HRD's hiring analysts and putting on their thinking caps.

But it can be hard to know where to start, especially given the seemingly insurmountable amount of work to get data ready. Luckily the nerds here at ThanksBox have put together a guide to help you hit the ground running!

Here's a taster:

How to transform HR with people analytics

Hi, thanks for signing up! We hope you enjoy this e-Course.

People analytics is at the heart of what we at ThanksBox do, we’ve spent far too many hours learning, reading and debating how data can change the future of work. We’ve also recently researched 100s of HR Directors to help shape this eCourse.

Throughout this 5 part blog series we’ll be discussing what got us interested in data analytics, how improved understanding can impact your approach to employee engagement, what’s happening in the market today (and who’s doing it) and finally how we have seen this impacting the world of HR (and how it will continue to do so).

A businesses’ only long term competitive advantage is it’s people

It’s widely acknowledged that employee engagement really matters. Products become out-dated and competition starts to get ahead, technology becomes old hat, new approaches lose their novelty and cash reserves run out. What keeps businesses innovating and differentiating are its people - their imagination, their achievements or their hard work. Even the staunchest brand loyalist, without your employees making a difference, will find a better option.

Your employees consume more of your brand than anyone else

Ask any established company who is buying their products, why they are doing so, how they prefer to do it and how many customers they think will stay or go and they can give you a 50 page report, but ask the board who their greatest front line superheroes are, what teams regularly go above and beyond expectations, or how well they are selling their brand to employees and you’ll be (9 times out of 10) met with blank stares.

You might, if you’re lucky, using lucky here in the loosest sense, be presented with last year’s employee engagement survey, giving you something of an idea of how everyone was 9 months ago or indeed how happy they are 2 months after the annual bonus or how unhappy they are in the rainy depths of the British winter.

The people working in a business understand it more intimately than any consumer, so employee buy in brings serious money – they are not just ambassadors to their friends and family or consumer of your products and services, they can make the difference to whether a customer decides to buy or not. Engage for Success found that companies in the top quartile for employee engagement had 2.5 times greater revenue growth and twice the net profit.

No business would ever dream of building a customer engagement strategy with just an annual snapshot to understand how you’re doing, we want to know everything now, right now and there is good reason for that;

Sporadic and discontinuous data points are not a worthy basis for decision making

Business units, such as sales, marketing and operations are run by dashboards and KPIs that allow them to monitor every week, every day right down to every hour, how they are doing. This allows for an intense focus on performance, building an understanding of how initiatives or interventions are impacting their desired outcomes.

If higher productivity through improved employee engagement is the aim, then acting, measuring, learning and trying again is the method. Letting HR and more broadly, people management, become a data led function has the power to give HR board level decision making ability by providing the evidence that backs up the business case.

What this means practically is searching for real time measures, allowing you to increase the frequency of your assessment and not forgetting the kind of segmentation, be it demographics or diversity groups, that will help truly understand your people.

Consider this: We regularly encourage HR Teams to speak with their Marketing Director to understand how data analytics and automation has helped to improve experiences for your customers.

If you would like a conversation starter, ask them about your company’s approach to behavioural analytics, programmatic advertising or predictive analytics and how these impact the experience of your customers.

How do we know we are better today than we were yesterday, last week or last month? We need to have a basis for comparison, whether we’re getting fit and wearing a Fitbit on our wrist, or validating which of our employee engagement activities are having the greatest impact on our employees.

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Martin Coombes

I've been really impressed how ThanksBox have considered the commercial and people side of the business and not just built a tool for HR, helping us to have more meaningful conversations and truly engage with our teams throughout the organisation.

Martin Coombes, Group Operations Manager
Atlas Hotels