Employee data is also referred to as “human capital management” and is defined as, the gathering and understanding of employee information within your company.
We all have the key to discovering areas of improvement with our employees through collecting the right data. While many companies view data collection as quantifiable, the information that is collected when addressing human capital management can also be objective and personalized. But which data should you collect to help you and how are you going to use that data?
Here are some steps to consider when implementing your own human capital management system.
Identify areas of concern
Discover the areas within your company that are causing the most employee concern or possibly impacting your bottom line. If you have high turnover or a low employee morale, these are areas that can be addressed through human capital management. Starting with identifying the problem can help you develop a more targeted system to find the solution.
Ask the right questions
Many times onboarding and out processing at the beginning and end of employment is a short process. Many companies want to move quickly through these stages to increase productivity, however not finding out why a person accepted or quit a job is important. Develop and ask questions during this process and throughout your employee’s time with you, that will determine areas of improvement in your company.
Find a relatable company mission statement
A mission statement or company promise is usually practiced throughout an entire organization from the second an employee is hired. Making sure each employee can relate to the mission statement and fulfill its promise is equally important to creating a company culture.
Review your company culture
Does your company culture relate to the promises and mission statement your company makes? If what is actually happening within a company differs from what is being promised to an employee, your company might be experiencing a high turnover when the employees expectations are not met. This includes management style and training.
Measure employee success
Determining how to measure each employee’s success in relation to the company’s mission statement is the last step. Every employee and job description is different, so taking the time to determine how each employee can successfully meet the mission statement is important.
Having a strong grip on your human capital management can be as critical to your bottom line as any other element of your business.