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The workforce genome

Using HR analytics to unlock high performance in financial services

OVERVIEW

Financial services companies are struggling to attract young talent and to engage their existing employees. However, transforming the employee experience by investing in workforce analytics is not as complex and expensive as perceived. Those that make the investment will gain an edge as they compete for the best talent and seek to sharpen workforce performance.

A concept Accenture calls the employee genome holds the key to employee productivity and contentment. It makes it possible to shift from mass-management of HR to individual profiles, services and experiences that will maximize motivation and productivity and make the firm a preferred employer.

Organizations can leverage predictive analytics, artificial intelligence (AI) and the cheap computing power of the cloud to analyze and act on HR data and other data sources such as social media. They can use their data to build a rich, digital representation of each employee—then use this to drive better, hyper-personalized experiences at the moments that matter in the employee journey.

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"80 percent of leaders are still using ‘gut feeling’ and personal opinions to make decisions that affect talent-management practices."

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