How Much Do You Really Know About Your Employees?
Sage People for Sage EM Helps You Understand People to Improve Processes
Consider the Sage software you use at work. It provides accurate, real-time insight into everything from your company’s progress towards goals to its financial health. You can track warehouse and inventory status, customer information, and more.
But what about … your own employees? How much do you really know about the people contributing to your company’s bottom line, the people running the forklifts in the warehouse, and the people answering the calls in the customer service department?
Tracking human resources information is the purview of a new breed of software called human resources information management. Sage software now offers Sage People for Sage EM (formerly known as Sage X3), a new generation of human resources software that helps you gain insights into the people who work for you so that you can create a better workplace.
Reducing Turnover Improves Profitability
High turnover rates can hurt productivity and profitability. Compensation Force reports that the average turnover rate in the manufacturing and distribution industry is 16%; this percentage is high compared to other industries, which range from 10% to 18%.
There are many estimates on the actual costs of employee turnover. Certainly, there is a loss of productivity. A vacant position means that work isn’t getting done or that existing employees must work harder to complete the tasks of the vacant position.
Recruiting, screening, and hiring talented people also takes time. Even when you do have someone hired, you’ll still need to wait until they’re fully trained in their new roles before their productivity improves to the point that things are ‘back to normal’.
Understanding your company’s turnover rates and the ratio of voluntary separation to involuntary separation can provide valuable insights on the cost of turnover within your company. Once you understand what the turnover rates are, you can take steps to lower turnover rates and improve productivity.
Factors Leading to High Turnover Rates
What are the factors that lead to high turnover rates? Poor training, little room for advancement or salary increases, and a stressful work environment contribute to turnover. But one little-known factor can influence turnover more than you think: unfulfilled employees.
Employees whose skills aren’t used may feel unchallenged, dull, and bored on the job. These employees may end up seeking employment elsewhere if they feel as if their talents go unrecognized or unused.
It can be difficult to spot employees whose skills are underused. Knowing your employees and the skills that they bring to their jobs can help you determine who may be ready for a challenge.
Increasing Employee Engagement
Another way to reduce employee turnover is to increase employee engagement. Many employees cite professional development, training, and educational opportunities as items that increase their loyalty and engagement with their companies and their jobs.
Adding professional development opportunities to your workplace doesn’t have to be time-consuming or expensive. It begins by understanding your employees. What do they want and need from professional development activities? Planning training and development is easier when you understand what people want and need.
Better Human Resources Management Begins by Knowing Your People
Better human resources management begins by understanding your employees. When you understand their skills and strengths, their motivators and their training needs, you’ll be able to create a workplace that will satisfy their needs and retain employees longer. By doing so, you will then reduce turnover, improve productivity, and enhance profits.
It sounds easy but, of course, it takes time. It also takes knowledge. Knowledge empowers you to make smart decisions and actions as you manage the talent around you.
Sage People for Sage EM (formerly known as Sage X3)
One way to enhance your knowledge of the people around you is by managing and tracking employees using Sage People for Sage EM (formerly known as Sage X3).
Sage People is more than simple human resources management software. It offers you the ability to use data to manage, motivate, and inspire employees. Sage People offers workforce visibility software that can help you track employees worldwide. Review skills, communicate, motivate – it’s all possible with Sage People for Sage EM (formerly known as Sage X3).
Built and hosted on the Salesforce App Cloud, Sage People for Sage EM (formerly known as Sage X3) connects you at a personal level to employees. Instead of creating one-size-fits-all human resources policies and training, Sage People for Sage EM (formerly known as Sage X3) enables you to fully understand what employees need and build tailored programs around their needs.
For more information on Sage People for Sage EM (formerly known as Sage X3), contact IWI Consulting Group. We can schedule a demo or answer your questions about the latest Sage software, Sage People for Sage EM (formerly known as Sage X3).
IWI Consulting
IWI Consulting Group helps businesses gain insights into their operations, inventory, and profitability. We provide software and support for a wide range of industries throughout Canada. For more information, please visit IWI Consulting Group or contact us today.