Big Data Can Lead to Big Boost in Employee Productivity
Using social tools within and across an enterprise can enhance communication, sharing, collaboration and knowledge. But perhaps most importantly, it has the power to raise productivity of workers by up to 25%, according to a report from the McKinsey Global Institute.
The institute suggests that by implementing social technologies, enterprises can increase the productivity of highly-skilled knowledgeable employees like professionals and managers. Whether building their own tool or buying a third party one, enterprises are ‘going social’ inside their firewalls; giving workers the opportunity to share their knowledge. This improves everything – from productivity to morale.
These tools, however, create data that needs to be analyzed, and the amount of the data could exceed what the management staff can handle. Enterprises’ internal social networking systems are ready for data mining and workers understand that if the organization is providing the tool, it can examine its content. The collected data can help determine worker reaction and understanding of an enterprise message.
The institute estimates that 72% of companies are using social technologies in one way or another, while very few are close to taking full advantage of implementing the technology. Though the most powerful applications of social tools worldwide remain largely unused, enterprises are on their way to developing ways to reach customers via social technologies and gather insights for product development, marketing and customer service.
The average employee spends around 28% of their working week dealing with emails and approximately 20% in search of internal information or tracking down co-workers who can assist with specific tasks. However, with enterprises starting to use social media internally, messages become content. If they keep a record of knowledge, this can cut the time workers spend searching for corporate information by 35%, according to the research. They can realize additional value via more efficient and more effective collaboration between and within enterprises.
The value that could be generated by companies through the use of social tools differs depending on the industry and on its source. Enterprises with a high share of employees who interact can see dramatic productivity improvement, as a result of smoother collaboration and faster internal communication. Companies that are much more dependent on consumers can capture significant value through interactions on social media and by monitoring consumers’ conversations; they can get an insight into their product requirements or brand image. And this will cost them much less than the traditional methods.
In order to make the most of social tools, enterprises should change their processes, structures and cultures. The power of social technologies depends heavily on the contribution and enthusiasm of employees who are willing to share their thoughts and believe that their participation is respected. Creating such an environment is far more challenging than implementing the technology, but it can also be far more rewarding.