Willis Towers Watson updated its flagship Pulse and Employee Engagement software products to add predictive analytics to their manager dashboards. The new versions are currently available for implementation.
The company believes adding predictive analytics capabilities will enhance the dashboards’ usefulness by boosting an organization’s ability to improve its performance in specific business outcomes, such as sales growth, customer satisfaction, turnover, retention and manufacturing output.
Past manager dashboards identified than organization’s strengths and weaknesses based on the results of employee surveys. WTW’s new approach allows managers to use its predictive analytics library to create specific performance predictor questions in their employee surveys, then load the algorithm to focus on those predictors. As a result, the company said, the dashboard will reveal both areas that are performing well and those that need improvement.
The new dashboards “will enable managers to go beyond general suggested actions for improvement and, instead, focus and capitalize on unique opportunities that predict performance,” said Stephen Young, Willis Towers Watson’s global practice leader for Employee Insights. The added algorithms will help managers identify factors that predict outcomes in various business areas, build them into their employee surveys and focus on predictors of improved business performance, he said.
While organizations in most industries can take advantage of the enhanced software, WTW believes financial institutions are particularly well-positioned to benefit given the industry’s competitiveness. For example, many financial firms tout their leadership in customer service.
“Organizations can now design a survey and manager dashboard (directing managers to issues), which both predict customer satisfaction and need-fixing,” Young said. “This will give them an advantage over those who use traditional survey programs.”
Separately, WTW announced pricing of a registered offering by its Willis North America unit of 4.500 percent senior unsecured notes due 2028 and 5.050 percent senior unsecured notes due 2048. Willis North America intends to use the net proceeds to pay down debt and for other general corporate purposes.
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