A few years ago, we published an article on why Workforce Planning & Analytics and Reward was a match made in heaven. It highlighted the reliance on similar sets of information and of course the skills required to do both jobs.
Since we know Reward delves in the area of perceived value, do we continue to build one-size-fits all solutions or use the great insight we have on what individuals prefer? While we focus on diversity & inclusion, can we use the same notion to drive our Reward and Recognition programmes?
The partnership with analytics can showcase what really makes an impact and helps us remain agile with the changing nature of our workforce. Understanding internal and external trends, the composition of our workforce, coupled with the budgets we have, is vital to developing a rewarding experience for our employees.
Our new think tank at REMNET, which we aptly call “The People Analytics Forum”, is helping us charter the different dimensions of data and information and is leading the way in finding what matters. This group of some of the best analysts in the country is learning together, sharing best practice, and connecting with Reward professionals to explore how we connect with our employees.
From some of the leading employers in NZ, they help navigate the real issues behind gender and pay equity/equal pay, the intersectionality of information and what people really value. The information and analysis have led to actions that matter to employees.. What is the sweet spot for increases on promotion, are there any biases while hiring different groups, are some of the questions they explore.
They pick up challenges to understand analytics that matters, not just the myths that seem to create their own culture in the business. Hard grounded facts that help managers make accurate decisions, have the right conversations and actually fail fast but try harder.
The future is bright, the future is rewarding but the present is exciting, because we are going to uncover new insights as we explore what really matters. Personalisation is key to successfully engaging employees and we will only succeed if we partner well with our friends in analytics. If you would like to know more about when we meet and how you can get involved feel free to reach out to email us at firstname.lastname@example.org
You can also read a bit more about our People Analytics Forum HERE >