Unfortunately, though, many organizations spend more on recruiting new talent than developing the top talent they already have; that has to change in order for companies to be successful in a tight talent market, Maroney says.
"Part of creating this engaging employee experience is making sure resources are added, dollars spent and management is on board. We've seen that, assuming a company's compensation is competitive, people want 'bread-and-butter' benefits like PTO, flexibility -- really, the mantra should be to treat your people like the adults they are, be clear about the objectives and their role in achieving them, and make clear the benefits to both the company and to them," Maroney says.
3. Achieving agility
To say the global economy is in flux is an understatement. We saw a U.S. Presidential election like the world has never seen before; The Brexit impact on the European Union is as yet unknown. Key political elections will take place in 2017 throughout Asia and Europe, and countries, counties, and cities continue to enact ever-evolving labor laws, such as the Wage Code Bill in India, National Living Wage in the U.K., and the currently-stalled U.S. FLSA overtime proposal, according to Kronos.
"The key point here is that organizations are going to have to stay on their toes and be able to react quickly as changes happen. That's the case no matter what, but it's especially important right now, I believe," Maroney says.
4. Using people data to solve people problems
Even the term "big data" can be enough to strike fear into the hearts of many organizations; by 2020, IDC estimates that about 1.7 megabytes of new information will be created every second of every day for every human. In 2017, the key will be to first decide what's important to measure, instead of measuring just for its own sake, Maroney says.
"Unless you can apply some statistical modeling and converge the right sources, you're just going to be drowning in meaningless data streams. In HR, you're looking at things like time and attendance as well as wellness data and productivity data, and you need to be thinking about how to take that information and deliver the outcomes you want. So, ask yourself what insights you're seeking, and then build the strategy to support that," Maroney says.
For example, can you use data to identify staffing, engagement and attendance issues by manager? By location? How do transit schedules and weather data tie in? Technology will allow organizations to look more closely into the workforce data they already capture -- i.e. people data -- to make better employee and business decisions that solve challenges related to turnover, retention, engagement, customer and patient satisfaction, and productivity.
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