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Might organizational analytics within the cloud be a profitable technique?

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Since the beginning of the pandemic, insurers have embraced remote working and many benefit from productivity and efficiency gains. However, chief human resources officers (CHROs) were more skeptical than their counterparts in the C-suite as to whether organizations were really ready to support a remote workforce. And many companies still lack the technology and infrastructure to maintain a distributed workforce over the long term.

Is it too late to take over the cloud?

The good news is that insurers have time to decide which course of action to take. If they take the necessary steps, they can flexibly scale the technology and resources of the workforce to respond to future disruptions. You could also gain a competitive advantage in the short term.

Ad hoc technology adoption is not the best approach, however. As Kit Friend, Senior Principal at Accentures Technology Strategy & Advisory Practice, says,

“We want people not to be easy messy and random trying things, but seeing this as an opportunity to get things done right. Whether it is agile frameworks or the correct use of digital tools. “

Why start with Cloud-based organizational analysis?

The path to the cloud is different for every insurer, depending on the existing technology architecture and maturity. For those who haven’t started their cloud journey, cloud-based is a good place to start organizational Analytics that provide meaningful insights into the human workforce. Why?

Employee or organizational analyzes can answer important questions about personnel planning and optimization, diversity and inclusion initiatives, productivity, commitment and satisfaction. Nicole Knott provides three examples of questions that can be answered with People Analytics:

  • What percentage of my current workforce are in jobs that will be out of date in the next five to ten years?
  • How does my company identify which business areas are the best group to retrain?
  • How willing is my workforce to focus on new offerings and sources of income?

Cloud-based analytics can also help you identify and respond to people’s personal concerns and daily problems. Employees may have the IT tools they need and be busy with their jobs. However, it is important to consider what else is going on in their life that is affecting their performance.

For example, many people are concerned about their children going back to school. Should they keep them at home or send them into the classroom? And when they go to school, are they safe? They are also concerned about whether or when they will need to return to the office on their own and whether steps are being taken to minimize the spread of the virus. Some fear that if companies reorganize their workforce, they could lose their jobs.

With people analytics in the cloud, you can prioritize your employees and quickly gather that kind of insight so you can act appropriately – maybe even create an “employee genome” that tracks the entire employee journey. We believe that modern HR managers promote employees and ensure that they are “better off net”. See our just published report to learn our view of the modern HR mindset and Five sweet spot practices that we recommend.

An inexpensive and low-risk entry point

Cloud-based not only helps you answer important business questions organizational Analytics are an inexpensive and low-risk way to test the value of cloud functions. In contrast to changes to customer interactions or new product offerings, which are very visible, they work in the background. You can tweak it and keep making iterative and incremental changes until you get the insights you need.

As with all cloud functions, cloud-based analyzes are scalable. You can start with a small pilot and then expand quickly when the value is proven. And you don’t have to worry about tech debt or the ongoing costs of maintaining your own tech infrastructure to support your efforts.

In the cloud, your data and analytics are easily accessible from anywhere in North America or around the world. They also have better protection than those hosted at on-premise facilities. Cloud-based solutions are more secure and enable better business continuity, disaster recovery and data archiving.

If you’re reading the latest article on CBI Insights, Insurers face a crisis. Now innovation is no longer optionaland you are concerned that your organization left it too late, don’t be. There is still time to choose the right path. Use a cloud strategy and the certainty that your technology infrastructure can grow at your pace.

If you want to talk about how your business can take advantage of the cloud organizational Analytics, don’t hesitate to reach.

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