How can you identify cost savings opportunities with employee relations analytics?

1 What is ERA and why is it important?

ERA is not just about tracking employee satisfaction or compliance. It is about understanding the factors that influence employee relations, such as culture, leadership, communication, feedback, recognition, diversity, inclusion, and fairness. ERA can help you identify the patterns, trends, and gaps in employee relations that affect your client's business outcomes, such as productivity, quality, innovation, customer satisfaction, and profitability. By using ERA, you can provide data-driven insights and recommendations to your client on how to improve employee relations and achieve their strategic goals.

2 How to collect and analyze ERA data?

To collect and analyze ERA data, you need to use a combination of quantitative and qualitative methods. Quantitative methods include surveys, assessments, metrics, and benchmarks that measure employee relations indicators, such as engagement, retention, performance, absenteeism, grievances, disputes, and lawsuits. Qualitative methods include interviews, focus groups, observations, and case studies that explore employee relations experiences, perceptions, and opinions. You can use various tools and platforms to collect and analyze ERA data, such as HRIS, CRM, ERP, BI, and AI. You can also use statistical techniques such as correlation, regression, factor analysis, and cluster analysis to identify the relationships, causes, and effects of employee relations variables.

3 How to find cost savings opportunities with ERA data?

To find cost savings opportunities with ERA data, you need to look for areas where employee relations problems are costing your client money, time, or reputation. For instance, ERA data can be used to estimate the costs of employee turnover, calculate the costs of employee disengagement, assess the costs of employee conflicts, and evaluate the costs of employee diversity and inclusion. It can also help identify the reasons why employees leave or stay, the factors that motivate or demotivate employees, the sources and solutions of employee complaints, and the opportunities and challenges of creating a diverse and inclusive workplace.

4 How to implement and measure ERA interventions?

To implement and measure ERA interventions, you need to follow a systematic process that involves planning, executing, monitoring, and evaluating your actions. Utilizing ERA data, you can define objectives and scope of your intervention, design and deliver it based on the best practices and evidence, monitor and measure your intervention by collecting feedback and tracking progress, and evaluate and report your intervention by analyzing outcomes and calculating ROI. This data will help demonstrate the impact and value of your intervention.

5 How to communicate your ERA value to your client?

To effectively communicate your ERA value to your client, you should use language and visuals that demonstrate how your ERA data and interventions have improved employee relations and business outcomes. For instance, you can tell a story with examples, quotes, and testimonials from employees and managers that illustrate the problem, solution, and result of your intervention. Additionally, you can use charts, graphs, and tables to display the key ERA metrics and indicators before and after your intervention. Furthermore, you should highlight the benefits and savings that have been generated by your intervention, such as increased productivity, quality, innovation, customer loyalty, and profitability. Lastly, provide recommendations and action steps for your client to sustain and enhance the employee relations improvements.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?