Global Trends Impacting Workforce Analytics Utilization and Defining New Use Cases
A multitude of factors explain the meteoric rise of workforce analytics, a global market expected to grow by a 14.3% CAGR from 2024 to 2032, reaching $6.04 billion. These factors include rising demand for performance monitoring tools, new capabilities made possible by AI, and the growing adoption of data to drive HR-related outcomes, including improving the employee experience to compete for talent.
To explore workforce analytics use cases, the global trends impacting the market, and the unique value of Sapience VUE – an automated workforce analytics platform for the new era of work – we sat down with Ashay Walambe, Principal Specialist, Product Management at Sapience Analytics. Walambe started at Sapience nearly nine years ago on the customer success team and has more than 15 years of experience in product management, business consulting, and people analytics. Read on for his perspective on the evolving workforce analytics field – a field that Sapience has been a part of before the workforce analytics category was even defined.
Q: Reliable workforce data can be used in myriad ways. What are some common use cases for Sapience VUE?
Ashay: Sapience VUE is employee-centric, where employees are empowered at an individual level to understand their own work patterns so that they can plan their day better based on their own job profile, the scope of the work, or the expectations from the job description. That data gets rolled up at a team level where a manager or supervisor can look at the team’s data and take corrective actions as well as guide people. So, VUE comes from a mentorship and employee empowerment point of view, where the common dimension is time: how you can plan your day better, how you can have more work-life balance, and how you can be more productive.
As you rightly said, the use cases are limitless and apply to the whole organization, from a person who is an individual contributor, to a person who manages a team; a person who is working the night shift, to a person who is working the morning shift. So, it’s all about having the right set of data, the right set of pain points, and then addressing it person by person, or role by role.
Your enterprise can use workforce analytics to succeed in a challenging labor market, enhance the employee experience, and optimize remote work policies. To learn more, request your free copy of “The Value of Workforce Analytics: A Guide to Leading with Data in the New Era of Work,” a white paper by Sapience Analytics.
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Q: What best practices can you offer enterprises for effectively deploying a workforce analytics platform?
Ashay: Sapience VUE is often procured at the C-suite level and rolled out from a top-down approach. Then it is adopted by senior-level, mid-level, as well as junior-level employees. Leaders should understand the intention and the use case for which you are procuring the workforce analytics platform. With the hybrid work model now in the picture, organizations have an opportunity to understand their real utilization of employees, or employees’ utilization of applications. That, for example, is a pain point. Once you know the pain point, VUE can be configured in such a way that you get the biggest benefit from the features you need.
Other pain points are utilization gaps, or workload distribution. It could be the case that some resources are getting too much work. They may not be telling management, ‘Hey, I’m already overloaded.” Unless you have the data, you cannot validate or verify their capacity. For both Sapience VUE and Sapience transparenSEE, it’s all about, “trust but verify.” Based on the data, you can take the corrective actions and create the right policies or benefits to optimize your organization.
Q: You mentioned hybrid work. Are there other business or technology trends that may impact the use of workforce analytics platforms?
Ashay: Absolutely. I was just reading an article about how today’s workforce is a very interesting, complex mix. We have baby boomers to Gen Z. Baby boomers have their own aspirations and work patterns, millennials have different work patterns or work behaviors, and Gen Z-ers are different. So, there couldn’t be a one-size-fits-all approach for everyone. By using Sapience data, you can identify the work patterns, the work behaviors of a particular generation and how they can be more productive, more efficient. This data can be used by HR teams or managers to understand whether there is the right mix of people at the organization, because you need experience as well as energy. You need empathy as well as excitement. You need a good global mix of different cultures and generations. Data can identify interesting work patterns and help you to be more efficient and productive.
Q: Could you tell us a bit about Sapience VUE and the value it provides enterprises?
Ashay: Sapience VUE is a state-of-the-art SaaS platform focused on enterprise-level companies. We specialize in providing interesting workforce analytics for all the employees working in complex, large-scale organizations. As you may know, Sapience means “wisdom.” To describe our process at the high-level: we capture data, we convert it into information, we transform it to knowledge, and then we give an actionable insight, or a wisdom, to the end users so that they can make more actionable decisions. The wisdom we provide can be used at every level of the organization to improve their work-life balance and their work efficiency.
A primary dimension we focus on is time. Everyone on this planet has 24 hours in a day – that is constant, whether you are an entry-level employee or the CEO. Learning how to better manage your time will make you more productive and efficient. Sapience adds value to an organization by making them aware of how they are spending their time, how teams are spending their time. These insights can make a company more efficient and productive.
It’s also worth noting that we are a 15-year-old company, which means we were in workforce analytics before the category was even defined. We are ahead of the curve.
The discussion continues! To read the second part of our discussion with Ashay about the visibility gap in external labor management, click here.
To see Sapience VUE in action and discover how workforce analytics can show you how your business really works, request a demo today.
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