Managing Human Capital Information
In today’s intensely competitive food and beverage industry markets, managers cannot rely on decisions based completely on gut feelings without running the risk of making wrong decisions that are costly in terms of both money and expertise. Instead, they need high-quality information about their workforces that guides them in recruiting and retaining the best people and maximizing the productivity of their workforce. Analytic tools can help produce this information by enabling the specification of desired capabilities, using them to evaluate candidates, diagnosing problems and predicting the best next steps. Such an approach can provide decision-makers with insights about work groups and individuals that will enable them to engage, support and motivate their workforce to further the organization’s business goals. Most senior decision makers who use people analytics find that it helps them improve the readiness of the workforce in any aspect of their food and beverage organizations. Our market assertion is that by 2025, one-half of food and beverage organizations will implement a more comprehensive approach to determine the readiness to optimize employee potential.
The road to people analytics is not always easy, though; most food and beverage organizations encounter impediments along this path. A major obstacle is the availability and quality of the information they use. That is because organizations in the food and beverage industry typically store their workforce data in a heterogeneous array of dispersed systems and formats, making collecting and using it a challenge.