A quick guide to employee engagement scheme reporting
This data, otherwise known as Management Information (MI), can be formatted in a number of ways that offer varying degrees of insight. It’s therefore useful to have an understanding of these different data outputs so you can act on trends, make comparisons, forecast the future and optimise your scheme to get the best value.
So, here’s our quick guide to employee engagement scheme reporting. We will give you a break-down of the different data outputs you’re likely to access, and how each one can be used to benefit your scheme analysis.
Online MI analysis
Online MI is the easiest method of accessing scheme data. Whether you have a benefits platform or a reward scheme, your admin portal will provide a useful surface-level glimpse of the activity and engagement of employees.
Although this only provides a first glance of scheme performance, it’s the most accessible and convenient way of retrieving scheme data. You get an instant snapshot of how many people are interacting with your scheme and which elements are popular among employees. This is useful information that can then be investigated further if necessary.
The instant nature of online MI means that it’s also particularly useful for analysing the impact of communications. For instance, let’s say you send out an email communication to all employees notifying them of a new offer on your benefits platform. Once the email has been sent, you can then log into the platform straight away and see, in real time, whether it has generated a spike in engagement. If, for example, a large number of employees logged in straight after the email went out, you know your communication has been effective. If they haven’t, you can then assess your communications approach and make changes to improve it going forward.
Analysing raw data
To get a more in-depth and detailed view of your scheme’s performance, raw data is the most beneficial type of MI. Every single data variable embedded in your platform is taken into account and exported into a spreadsheet as raw figures. This information can then be picked apart and analysed in greater detail.
Why is this MI format useful? Being able to extract this degree of data means that you get a comprehensive statistical report that logs every single action that has taken place on your platform. From this information, you can then drill down to draw comparisons between different areas of your business.
For reward and recognition platforms, raw data is especially useful because it delivers an accurate picture of how different teams, departments and locations are interacting with the scheme. For instance, one department might be allocating reward points to well-performing employees on a regular basis and therefore showing high levels of engagement, whereas another department might not be allocating reward points at all. This kind of information is therefore useful in the decision-making process of any scheme and can help improve engagement across the board.
Using infographics
A visual representation of MI, infographics provide a tailored summary of scheme data and focuses on specific areas which are aligned to a business’ Key Performance Indicators. This type of MI reflects both online and raw data, but centres on the areas that categorically display how a scheme has performed over a fixed period.
Presented in a format that is transparent and easy to comprehend, infographics are particularly useful when key data is requested from stakeholders and senior team members. Infographics are easy to present and clearly illustrate a fixed notion of how a scheme is performing, showing no doubt about what is going on in terms of registration numbers, spend and overall engagement.
Management Information is instrumental in helping employers and providers monitor and measure the performance of an employee engagement platform, from benefits and discounts, to reward and recognition. For us as an employee engagement provider, it also allows us to be wholly transparent so we can spot areas of improvement and develop our solutions accordingly.
This article is provided by peoplevalue.
In partnership with peoplevalue – The Employee Engagement Company
We are a leading provider of employee reward&recognition, benefits delivery&wellbeing solutions.
