People Insight: The New Critical Insight Every Business Needs
Read this blog to discover why people insight has become more critical than ever in supporting decision making and transforming your business.
25 years ago, business leaders dreamt of being able to instantly track how their business was performing, increasing the speed and accuracy of their decision-making. But extracting information from spreadsheets and siloed ‘not for purpose’ systems was fraught with human error, and data took an age to gather and analyze. Then, ERP and CRM systems came along and changed everything. Implemented in almost all modern organizations, they deliver immediate and real-time data and insight to support fast and evidence-backed decision-making.
In this blog, I uncover the next, and soon to be the norm, platform of data and insight that every business needs to transform their business.
The precedent has been set
When ERP and CRM systems were first introduced, they were under-utilized, and it took years for them to form part of the fabric of the modern business. The C-suite knew they needed them, but the functional leaders often struggled to get them implemented and utilized. But time has passed, and it has shown that we cannot live without them or the essential insight they provide.
So, onto the new and huge change that is happening right now—the new type of data that has become essential in business: people insight.
Strategic business tools should be built around the three most important things to businesses; their customers, their operations, and their people. We know customers and operations have well-established systems powered by lots of data, the CRM and ERP respectively. But sadly, there is a big hole when it comes to people and people insight…until now.
As a contrast, and to position just how valuable talent and people insight has become, I’d like to explore the value that ERPs and CRMs bring to the customer and operational processes.
But there is a missing piece of the puzzle
- Customer data. CRM tools gather and utilize customer data to understand where to sell, why products and services are not selling, what can be done to improve sales, which salespeople are achieving, and what tactics and campaigns have achieved good results. Fundamentally, CRM’s use a single platform of data and data visualizations to allow leaders to make the best sales, marketing, and customer decisions.
- Operational data. ERP (Enterprise Resource Planning) tools allow businesses to manage their day-to-day activities such as accounting, procurement, and the supply chain. Continuing the theme, ERPs use a single platform of data and data visualizations to make the best operational decisions.
Isn’t it strange that decisions relating to what many call their most important asset, people, have not yet been supported by a similar platform of real-time data?!
Strategic business tools should be built around the three most important things to businesses; their customers, their operations, and their people.
The full and complete picture
Talent data is essential to ensure employees are as engaged, and as high-performing as possible, bringing competitive advantage to the business. But without a standardized method of using people data to make people decisions, businesses are simply not achieving their full potential.
For years SHL has had the science that brings wisdom to people's decisions. But now we have got the platform to deliver that insight, just like a CRM does for customer data and just like an ERP does for operational data. We bring immediate and science-backed data visualizations to HR and people decision-makers. Instantly showing them what talent they have, what they do not have, where individuals are best utilized, or where they need development. Ensuring that people are aligned to, and focused on, the strategy of the business.
We know our science and platform are truly revolutionary and long-awaited because our customers tell us so. The data-led approach to talent management does not only add huge value to the business but the people as well. If people are well suited to their roles, and their development is targeted, they are more engaged and deliver stronger performance. For example, our research found that high-fit talent (in this case identified using our talent mobility solution, Mobilize) performed 22% better and was 82% more engaged.
The new age of business-critical insight is here. And it is just what we have all been waiting for—whether we knew it or not.
Contact us to find out more about our revolutionary platform of people insights