In this two-part series, we’ll dive into the EX, or employee experience, and the numerous ways it can drive your business forward. Part 1 will look closely at what it is and questions you should ask yourself in key areas of your organization. Part 2 will address how analytics can help enhance today’s EX by creating a richer, more robust experience for all involved.
EE is out, EX is in
While employee engagement is a fundamental aspect in ensuring satisfaction on the job, the reality is it’s just one of several elements that should round out an entire employee experience (EX) for today’s workers.
Dashboards, Smart PPE and new algorithms help retain talent
Organizations are doing whatever it takes to create deeper-rooted connections with their employees as most are fully aware of how important engagement is to driving better business outcomes in today’s job environment. So, how do you know what you are doing is effective? Data-driven analytics, HR dashboards, artificial intelligence and smart PPE all play a critical role in determining how well you are doing in the area of employee engagement. Not only do these platforms provide leadership and key HR personnel with quick insights at a glance, they can also be used to make important decisions when it comes to talent, hiring, safety and more.
Ensuring the Value of Your Investment
by Adam Chose
The ability to connect smart devices seamlessly across networks to improve manufacturing processes and increase productivity has become big business. Multiple industries are seeing explosive growth in the ROI of IoT as research reveals it will reach $91 billion by 2023. That’s proof enough that major organizations view this fascinating and relatively new technology as an important strategic investment for the future of their business.
While it’s quite clear that IoT is here to stay, and that the ROI of IoT is strong, it’s still somewhat uncertain exactly how manufacturers will prove its return on investment and problem-solving capabilities. Beyond having a wow factor, research from McKinsey says as a new technology, understanding the implications of IoT’s bottom line impact has yet to be fully vetted and its benefits aren’t as understood as other, more established technologies like data analytics. But business leaders are abuzz with all the ways they envision it improving everything from operations and manufacturing processes to research and development.
Whether you are cautious about this growing technology trend or are diving into it head first, there are a few steps to help ensure you are investing properly and able to better measure IoT’s benefits.
Industrial IoT Increases Efficiencies, Value Chain with Better Analytics
The industrial/B2B market is rapidly expanding its IoT proficiency – mostly within the automotive and manufacturing sectors, followed by transportation and logistics. The market leaders in these segments are paving the way to a brighter business future and using IoT to connect their products to a more effective and efficient value chain. The global industrial internet of things market size is expected to reach almost $1 trillion within the next six years, according to a report by Grand View Research, Inc. And is projected to expand at a CAGR of 29.4% during that timeframe.
Gen Z may just be the answer to the manufacturing industry’s skilled trade shortage. According to a recent study by Leading2Lean, one third of this generation, which ranges from 18-22 years old, has had manufacturing suggested as a career option. That number was only one in five for Millennials. The study also suggested that Gen Z is intrigued by careers in manufacturing. They are more likely to consider working in it and less likely to view it as a declining industry. Here’s a quick look at five reasons manufacturing jobs are becoming more appealing to this generation and what you can do to ensure you are attracting this group of new collar workers.
Industry experts report that addressing data security issues will supersede innovation and other opportunities to ensure growth and confidence in all things IoT. That’s because potential risks are increasing as companies make investments in hard-to-resist technology that is designed to make work more streamlined and productive.
How workforce intelligence software can impact today’s top HR challenges
By Adam Chose
It’s not surprising that the top two HR issues most critical to organizations are employee engagement and retention. Yet studies abound with proof that investing even 1 percent of payroll into improving the employee experience and measuring its results can have a long-lasting ripple effect on employee retention analytics and happiness on the job. Gallup polled more than a million employees and those that worked with highly engaged organizations reported less absences and less turnover.
Research shows that strong worker communities within organizations deliver stronger workplaces with less waste, higher quality and better safety
By Adam Chose
Employee engagement has undoubtedly been a hot topic in recent months. As we head into the new year, it will certainly remain a key focus as companies look to adopt new technologies and management strategies to drive not only a culture, but a community of high performance. In other words - a highly engaged workplace.
While companies may be investing heavily in worker engagement programs, according to Harvard Business Review those seeing real change are going beyond the typical employee engagement surveys and driving worker engagement at all levels through more consistent touch points. They are focused on long term worker-powered strategies and experiences designed to drive retention and increase satisfaction. Simply put, having an environment that truly invests in its workers so that they are motivated and engaged results in innumerable benefits not just for employees but for the employer as well.
Augmented Reality Takes Center Stage
Several in the manufacturing industry have begun exploring the benefits of augmented reality in the workplace. While it may sound like something you would hear about in the next installment of The Matrix, AR basically gives manufacturers and those in the construction industry an opportunity to superimpose computer-generated, composite views on top of real products, parts or machinery through sophisticated wearables or right from a smart phone or tablet.
Smart PPE and AI Combine to Enhance Worker Safety
The Smart PPE industry is experiencing massive growth as many companies hunt for ways to create a more sophisticated work experience that enables increased productivity and safety. In fact, a survey of environmental, health and safety directors representing over two dozen countries and 25 industries in 2018 indicated that the PPE market will continue making headway in the next five years with many increasing budgets as new products become available. The market was already at more than $47 billion in 2018.
Want to learn more about the Corvex platform? Sign up for our free webinar on June 19th and learn how IoT, PPE and data work together to boost productivity and improve safety. Register here!
Much of this growth will come in the way of smart technology and artificial intelligence and its integration into work wearables and PPE. It’s a natural progression that offers a number of benefits and in the realm of safety, a huge upside. Here are five areas of opportunity you don’t want to miss out on.