How Can Workforce Intelligence Software Help Me?

by Revelio LabsAugust 2, 2021

If you own a business or have employees, you may want to consider using workforce intelligence software. This software looks at employee patterns and helps businesses make data-driven decisions. In addition, workforce intelligence software also compiles and analyzes information from employee surveys. If your employees and workforce are a crucial part of your business plan, then the importance of this software cannot be overstated.

Most companies know and understand the importance of financial metrics, but they don't measure anything else. However, looking at other metrics can help you improve your business and succeed in other ways. This blog post describes how this software can help you succeed as you manage your business and employees. To learn more, read on.

What is workforce intelligence software?

This software records employee behavior and data. The data sets and information can then be used to help make business decisions as well as manage employees better.

Most software looks at three types of data sources.

Unstructured Data - This data set is also known as qualitative data. It looks at communication and is found through informal conversations, emails, and even social media posts. Because this data is more "human", it can provide a truer representation of the workforce.

Structured - This data set is typically numerical or formulaic. Most employees live fluid, changeable lives, but some parts — like time clocked in — are very structured. Workforce intelligence software can look at this structured source to determine when employees are working. It can also look at online habits and activities as well as their browser history.

Semi-structured - This data set is a mix of the two. It looks at both sets together, typically through survey responses. Surveys tend to combine human inputs with numerical data. 

Each of these data sets has value on its own (and can impact your decision-making on its own), but when you look at information from all of these sources, a more complete and useful image emerges.

If you own a business or have employees, this software will help you identify areas you can improve. Looking at these three types of data will help employers like you make actionable decisions about their company and workflows for specific tasks. In the next section, we will dig into who in the company is best suited to working with this data.

Who uses workforce intelligence software?

As we mentioned, most software looks at unstructured, structured, and semi-structured sources. HR departments most frequently use this software. They use the data to look at hiring and attrition, diversity in your workforce, career transitions, employee satisfaction, and more.

Depending on the type of data you are looking for, HR could even use this information to determine who in the company has the most potential to grow. This information can help you pick leaders in your company based on data and evidence, and performance and company standing.

In addition, some companies attempt to use this software to pinpoint efficiency issues. They use the data to try to understand places where work or the workforce is lagging. This can help you automate certain slower processes — so your employees can be even faster. Automating slow processes can help your employees feel less frustrated at work.

Everyone likes to know they are doing a good job, and this is one more way HR or other managers can use workforce intelligence software. By tracking patterns and habits you can show your employees the things they are doing well and things they can improve.

What other applications does this software provide?

Many companies feel they have a good understanding of how their employees are doing, but they may not understand how to compare their talent to other companies in their industry. It is important to see how you measure up when you consider recruiting; you want your company to be competitive. In addition, if your company is mainly entry-level positions, you want to know what sort of talent and skills match your company's goals. This helps you determine which people to keep.

Understanding which talents you need is not just beneficial for you — this can also help your employees. Once employees understand how their skills impact the company's goals, they will feel more motivated to help the company meet those goals. After all, motivated employees are productive employees.

Revelio Labs can help you compare talent and skills across multiple companies. They are working on standardizing workforce data so that more companies can understand how to allocate and best use their employees. They believe that measuring employee success is the best way to truly understand a company. In addition to the ability to compare companies, they also offer analytics so that companies understand the data they have collected. To learn more, visit the demo on our website at https://www.reveliolabs.com/demo to see how a workforce intelligence software company can help you. 

Request a demo to explore Revelio Labs workforce data