Almost every company uses data and analytics to improve their businesses. In the commercial real estate sector especially, detailed and accurate data on employee behavior and preferences can help business leaders tailor retention strategies, invest with confidence, and make smarter business decisions.
Since the arrival of COVID-19, the workplace has undergone an intense period of change. And, it will only continue to do so as the workforce adjusts to hybrid work. However, how can companies navigate the future when it comes to attracting and retaining talent? The answers, as suggested, lie in the collection and interpretation of data.
In the face of a constantly changing market, making hunch-based business decisions is risky. As a result of this, accurate, real-time information on employee behaviors and preferences is quickly becoming a necessity for forward-thinking companies. Research shows that when using data-driven decision making in the workplace, profitability can increase even under a variety of different market conditions.
The Importance of Data
According to What The Employee Wants, businesses must ensure that they are able to monitor how and when their office space is used. It’s important that they analyze this usage and identify emerging usage patterns — adapting to and benefiting from those patterns by making data-backed decisions that increase employee engagement.
Addressing employee disengagement and proactively improving engagement with data analytics tools is critical to running an efficient and successful organization. The only way to tap into the engagement potential of your workforce is through ongoing, effective communication that is tied to workforce behavioral data — which can be achieved through customizable workplace experience technology. This is key, since engagement is not a one-size fits all concept and every employee is different.
One important tool to help employers is behavioral data sets. Although traditional employee engagement surveys collect data and comments from employees, workplace experience managers are looking to collect more meaningful data on workplace experience, such as how often they go into the physical office, and which spaces they use. It’s important that employers turn to employee experience platforms in order to understand these use-cases.
Adding behavioral analytics to management strategies is a step towards enabling objective, data-driven decisions — a predictor of success in these unpredictable times. These insights help business leaders, as he or she analyzes data over time to reveal deeper insights into what their employees need. For example, technologies like Metrikus provide data-driven tools to fully understand how your office space is being used, thus helping to make informed decisions about how much space you need, your office layout, and even energy outputs.
Data can understand employee needs better than employees do themselves. And, by gathering and analyzing more meaningful data on the employee experience, employers have the opportunity to act on any discrepancies that may exist between usage and sentiment.
With the focus on employee and workplace experiences on the rise, it’s important that companies are also improving upon company culture and using data to understand the needs of every employee.
HqO Analytics empowers you to better understand your employees through the usage of your workplace experience app. With HqO Analytics, employers have the ability to gain insights in nearly real-time about employee engagement. This can be done with in-app content, events, utility buttons, and more. This enables employers to use predictive analytics and make more informed decisions about workplace experience strategy.
By gathering information on each data point, corporate leaders gain a much more complete, higher-level picture of activity across their portfolios. And, measuring employee sentiment and usage in real-time allows organizations to gain a fuller, more comprehensive picture of what might be happening at their workplace.
A workplace experience platform that provides employers with big data is important to understand what employees needs are and will keep employees engaged long term. With HqO Analytics, access to top requested app data at-a-glance that can help you understand the number of app users, activity around content and programming, utility button popularity, and which areas within Analytics to dig into further.
Want to learn more about how your company can use technology to improve the workplace experience? Schedule a demo today.