Delegates who attend Employee Benefits Connect 2016 can gain insight into the connection between data analytics and benefits strategy.
In a session entitled ‘Using data analytics to future proof your employee benefits’, Dr Eric Tyree, chief data scientist at Capita Employee Benefits (pictured), will discuss how employers can use employee data to inform their benefits strategy for the long-term.
The session will examine how data analytics can help to effectively segment a workforce and how employers can use that information to improve their benefits and business strategy.
Tyree will speak alongside Nigel Hopkins, senior sourcing manager, HR services at Lloyds Banking Group.
Tyree said: “The relationship between employers and employees is a consumer one, so if you want to future proof your employee benefits, you have to adhere to their dynamic, changing wants and needs.
“Data analytics have to form part of a wider benefits strategy and what you’re trying to achieve as an organisation. It could be something as simple as measuring how many employees have logged onto a benefits portal.
“From a cultural point of view, processing data is so cheap and people are less fearful of data protection issues than they were 10 to 15 years ago. If employers have employees’ permission, staff expect an individualised service informed by data.”
However, Tyree also believes that employers need to emphasise why and how they are using employees’ data.
Employee Benefits Connect 2016 will take place on 9 March at the Lancaster London.
This is not really surprising since analytics can truly change everything — from benefits to compensation to employee retention. Analytics, done right, has power. Doing it right is what takes a little work.
Karen J. Bannan, commenting on behalf of IDG and Infomatica.