It’s a new era of transparency. There are many companies that provide benchmarking tools to help you find your worth (a phrase Glassdoor coined) through open feedback and benchmarking.
The engagement survey concept was a slow-paced trend, but today, it’s a booming sector with a dynamic world of real-time survey systems, sentiment analysis software, organizational network analysis (ONA) tools, and products that automatically ask your peers for feedback to give you real-time coaching.
This explosion of transparency has been very healthy for business, and it has spawned a new set of pulse surveys, AI-based analysis and recommendation systems, and culture assessments throughout the marketplace. With the right architecture, you can rule.
This kind of a healthy feedback system has enabled a continuous performance management that can transform your company. With the new team-centric tools and approach, HCM backed businesses are poised to be the future.
Customer Data is important but so is Employee-related data. Without the employees who is going to take care of the customers? With AI-powered tools in the picture, the HCM market is looking bright. And all this has been possible with the growth/explosion of cloud!
At the corporate level, the ONA software are now being adapted extensively, ushering in a new world of relationship analytics. Companies now have access to core HRMS data (turnover, tenure, performance rating), relationship data (who you know, who you spend time with, what teams you are part of), wellbeing data (your activity, location, energy, wellbeing), and your sentiment data (feedback, mood, and sense of belonging). With all this data, HR departments are now one of the hottest teams on the corporate arena.
This has brought about a holistic shift to business with the help of sales performance and team performance going hand in hand.