To succeed in today’s economy, managers need a nuanced understanding of how workplace policies, employee behaviors and team dynamics also impact productivity. They need to use data. The impact of data on workforce management is staged to revolutionize how leaders evaluate the effectiveness of current policies, leverage their employees’ strengths and empower teams to perform effectively. »
People analytics, a new trend in people management, emerged in the larger context of using big data to inform business decisions. It provides transparency into the ways a company’s biggest asset—its people—are really working.
Google recognized that people-management decisions should be no different than engineering decisions. Key business decisions need to be rooted in data.
Google’s perks are highly lauded, including their complimentary gourmet food and paid family leave, but it is important to note that these initiatives were based on data.
synthesizing multiple strains of data, people analytics helps leaders understand how policies impact efficiency.
2. Create transparency to drive productivity. To reduce organizational distractions and encourage efficiency, a high tech company delivered personalized weekly reports to both employees and managers. The reports allowed both parties to see trends in their work patterns and identify issues leading to distraction from key initiatives
3. Recognize and foster employees’ passions to reduce distractions. After reviewing multiple strains of data, an executive may notice that particular team members spend an inordinate amount of time pursuing a particular interest in the business.
nstead of relying on quarterly financial reports after the fact, senior managers used people analytics to watch execution problems in real-time. The insights allowed the company to make evidence-based decisions to integrate teams and meet revenue targets.
5. Provide sales teams with an early warning system
« There won’t be much work for human beings. Self-driving cars will be commercially available by the end of this decade and will eventually displace human drivers—just as automobiles displaced the horse and buggy—and will eliminate the jobs of taxi, bus, and truck drivers. Drones will take the jobs of postmen and delivery people. »
So the future is very bright for some countries in the short term, and in the long term is uncertain for all. The only certainty is that much change lies ahead that no one really knows how to prepare for.
Summers is wrong, however, in his belief that governments can do as they did in the industrial age: create “enough work for all who need work for income, purchasing power and dignity.”
How are policy makers going to grapple with entire industries’ disruptions in periods that are shorter than election cycles? The industrial age lasted a century, and its consequent changes have happened over generations. Now we have startups in Silicon Valley shaking up bedrock industries such as cable and broadcasting, hotels, and transportation.
Automation always eliminates more jobs than it creates if you only look at the circumstances narrowly surrounding the automation. That’s what the Luddites saw in the early 19th century in the textile industry in England.
The only solution that I see is a shrinking work week. We may perhaps be working for 10 to 20 hours a week instead of the 40 for which we do today.
« All too often I still encounter enterprise collaboration efforts, customer communities, and CRM projects that make the same essential mistake: They literally transplant how they do things today into emerging digital environments such as social networks, online forums, and collaboration suites, instead of tapping into the new ways of working that these new digital environments enable. This misses the whole point of adopting innovative new ideas and technologies that can unlock deeper opportunities that just weren’t possible before. »
When you prevent this from happening, intentionally or otherwise, you sharply limit the value created and opportunity accessed. But most businesses today still let very few participate: They try to do it all themselves. For most types of work, this results in outcomes that are simply uncompetitive and unsustainable in terms of the cost, quality, and effort of the outcome.
» Social enterprise — communication, collaboration, and knowledge sharing across business silos and departmental boundaries — is a core part of digital business transformation initiatives. Research from IDC sheds light on this topic. »
Partner experience management refers to the orchestration of interactions partners and suppliers have with other businesses (B2B) to deliver optimized workflow.
Ironically, given that the workforce is the single biggest investment that most companies make, actual investment in collaboration tools remains as spotty as ever…. collaboration is still considered a “figure it out yourself” process in most organizations, with limited planning and little training in either better ways of collaborating or education on the technologies themselves.
As shown below, the report identifies customers, employees, and partners as three archetypes, labeled as “experiences”:
Customer experience management refers to the entire process relating to the interactions between a customer and the organization that the customer engages with over the lifetime of the relationship.
Employee experience management refers to the interactions of employees across the lifetime of their relationship with a company
Digital transformation is a broad concept with ramifications in areas such as business model, culture, and talent management, because undertaking a digital transformation initiative means creating significant change over a sustained period.
« However, more sophisticated observers recognize that digital transformation has significant implications for operations and business models. For example, during a CxOTalk conversation withGanesh Bell, the Chief Digital Officer for General Electric Power & Water, he discussed the role of sensors, data, and analytics in improving GE’s industrial products and services. In GE’s case, the digital transformation involves marketing, product development, and other parts of the company. »
Despite these CFO stereotypes, one fact remains true – business model change often means a shift in how a company invests resources and generates returns. By this logic, the CFO should be a natural partner in digital transformation efforts.
that companies whose CFOs continue to allocate their company’s capital to tangible assets using previous generations of technology could generate lower levels of performance and enterprise value than digitally and big-data savvy CFOs who are spending their organization’s resources on building and mining intangible assets powered by today’s technologies.
To overcome traditional ways of thinking, Libert explains that CFO’s must learn to adopt a “mental model” based on, “building and operating social and commercial networks that foster interactions and co-creation with their customers.”
When corporate priorities push IT to show increasing deference to the CFO, the need for digital thinking in the financial office grows even stronger.
However, when networks of people become a significant driver of value, accumulation gives way to co-creation and shared experience. This remains a new kind of thinking for many CFOs.
« Les économistes, les dirigeants d’entreprises et d’autres acteurs de la vie économiques n’ont pas fini de débattre de ce que Tyle Cowen, professeur à l’Université George Mason, appelle “la Grande Stagnation” de l’économie américaine – et des mesures à adopter afin de renouer avec la croissance. Pour justifier ce point de vue, Cowen pointe du doigt la stagnation des salaires aux Etats-Unis (notons que le même phénomène se vérifie en Europe, du moins pour sa partie méridionale). Plus généralement, il prétend que nous avons déjà récolté les fruits faciles à cueillir produits par certaines grandes découvertes capitales et non reproductibles, notamment sur le plan technologique. A l’avenir, il nous faudra selon lui travailler plus dur pour réaliser des gains de productivité et de prospérité, et ces derniers arriveront plus lentement. »
Le rythme de l’innovation est encore rapide, affirment-ils, et nous devons nous attendre à de nombreuses autres percées technologiques capables de produire des rendements extrêmement élevés.
Les managers, à l’évidence, font partie de ceux qui inventent et mettent en œuvre de nouvelles règles dans le monde. A notre avis, les structures, les processus et les schémas de rémunération adoptés par la plupart des entreprises aujourd’hui étouffent plus la motivation qu’ils ne l’encouragent, et limitent plus les capacités qu’ils ne les développent. (
Si les managers ont le pouvoir de faire plonger l’économie, ils ont également celui de la faire progresser.
Clairement, ils devraient investir dans des innovations transformatrices, et revoir leur façon d’approcher tous les aspects de la vie de l’entreprise, depuis le recrutement des jeunes diplômés à la rémunération des patrons.
Nous ne résoudrons jamais les grands problèmes du monde – comme fournir les populations en eau potable, énergie, soins médicaux et éducation – si nous continuons à opposer les hommes aux machines.
Le rôle des managers au sein de son organisation, avance-t-il, consiste à éliminer les obstacles et fournir des outils à ses équipes – ces personnes détentrices de la connaissance et de l’énergie collaboratrice dont l’entreprise dépend.
Le management et les managers sont la ressource centrale, l’organe générique, distinctif et constitutif de la société… et la survie-même de la société dépend de la performance, la compétence, le sérieux et les valeurs de ses managers
« Gone are the days when you could come home from the office and unplug. We are now living in a 24/7, always connected business environment. Your company doesn’t stop running when you leave the office or when you go on vacation. For the past few decades, journalists, authors, speakers and executives have talked about the importance of work life flexibility but that discussion has shifted in this new environment. »
» But it was not the new index I found the most interesting. There was one graph that caught my attention: the relationship between « Innovation Capital » and productivity. The graph confirms that innovation capital (or intangible capital) is important for productivity growth. «
increasing investment in intangibles is not enough; policy must also look at the effectiveness of that investment in raising productivity.
The McKinsey report has some insight on that with its finding about the effect of investment in « Knowledge Capital » versus « Human Capital. » Their analysis shows that an investment in Human Capital generates a higher marginal retur
A sensible response to this shift, Brynjolfsson says, is to reassess workplace roles to find tasks particularly suited to people, and have humans and computers work alongside, rather than against, each other to complete them.
By being aware of these relative abilities, and matching people and machines to the right tasks, you can outperform machines or people acting on their own, Gesher said.
« The idea is to do everything you can to remove the friction at the boundary between man and machine. Offload as much as possible onto the machines and bring in the injection of human insight into the system. »
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