As our Data Insights Week, in association with Aon, draws to a close, it is time to reflect on some of the trends and issues currently shaping employers’ strategies in this area.
In today’s world, there is no disputing that data is king. Whether we like it or not, the technological nature of society means more data is held on us than ever before, with many businesses vying to obtain customer data in order to better tailor their proposition.
In the benefits world, this means employers potentially have a greater pool of employee information at their fingertips, with which to inform elements of their employment proposition, including culture, reward and benefits. The wealth of available data can help employers build a better understanding of employees and their needs, before using this insight to tailor their benefits proposition to individual people or specific groups within the workforce.
Personalising benefits in this way is one step employers can take in a bid to optimise usage, and therefore achieve the best return for their investment.
Health and wellbeing is one area in which employee data can be particularly useful. Identifying a workforce’s health profile and most prevalent conditions can help an employer target its spend. This approach can enable an employer to tailor support to where it is most needed, helping to build workforce resilience.
However, when faced with a large potential pool of data sources, it can be difficult to pinpoint which data sets are likely to be most useful. Arguably, the most straightforward way is simply to ask employees, such as through a staff survey. HR and benefits platforms, systems and apps can also be valuable sources. Identifying which are likely to provide the most relevant employee data, therefore, is key.
Whatever your current data strategy, Data Insights Week was designed to help you take this to the next level through exclusive insights and opinions uncovering best practice in this area. These included:
- How can employers use data to personalise a benefits proposition?
- What are the most effective ways for employers to collect employee data?
- How employee data can build a resilient workforce.
- Wilson James collects and uses data to invest in benefits strategy.
- South Cambridgeshire District Council uses surveys and data to inform wellbeing strategy.
- Bailie Group uses employee feedback to inform proposition.
- Andrew Krawczyk: Good data is vital in building an employee-led health strategy.
- Jason Green: Good data helps create a valuable benefits proposition.
- Infographic: Employee data in numbers.