RESOURCES / SOLUTION SPOTLIGHT
KYE: HR Spend Management
In today’s increasingly innovation-driven, service-oriented economy characterized by intense competition, the ability of a firm to achieve continued growth and success is primarily determined by the quality and strength of its investments in human capital. Paradoxically, even though a majority of firm’s costs are human capital related, it is one of the least measured and understood investments.
LatentView’s KYE (Know Your Employee) helps managers create a competitive edge and consistently make the right decisions at each employee touch point, by providing unparalleled insights into the drivers of employee performance.
WHAT IS KYE ?
KYE is a Human Capital Spend Management Solution that enables data driven decision making with regard to interventions such as compensation, rewards, training,etc. that impact the performance of an employee. KYE is a result of LatentView’s collaboration with thought leaders in the area of human capital management.
HOW KYE WORKS?
KYE mines data from different parts of the organization pertaining to demographics, compensation, performance data etc. to discover underlying relationships between business-relevant outcomes such as Productivity, Leadership, Engagement and Quality of Work as a function of human capital interventions.
VISION OF KYE:
KYE’s vision is to allow business managers effectively segment their employee population in a data driven manner that allows for segments or groups of employees to be managed with an optimal mix of interventions that are uniquely customized to their needs. This way, the management is able to effectively allocate its human capital spend so that it derives the maximum bang for the buck, in addition to finally and definitely breaking the dominant 'one-size-fits-all' paradigm that has been governing HR practice for several decades.
WHY USE KYE:
KYE’s classification engine internally uses highly innovative segmentation algorithm to classify employees into appropriate employee segments, while the KYE’s analytics engine uses cutting edge predictive modeling techniques to quantify as well as simulate employee’s performance output metrics values.
FEATURES OF KYE:
BENEFITS OF KYE:
KYE: HR Spend Management
In today’s increasingly innovation-driven, service-oriented economy characterized by intense competition, the ability of a firm to achieve continued growth and success is primarily determined by the quality and strength of its investments in human capital. Paradoxically, even though a majority of firm’s costs are human capital related, it is one of the least measured and understood investments.
LatentView’s KYE (Know Your Employee) helps managers create a competitive edge and consistently make the right decisions at each employee touch point, by providing unparalleled insights into the drivers of employee performance.
WHAT IS KYE ?
KYE is a Human Capital Spend Management Solution that enables data driven decision making with regard to interventions such as compensation, rewards, training,etc. that impact the performance of an employee. KYE is a result of LatentView’s collaboration with thought leaders in the area of human capital management.
HOW KYE WORKS?
KYE mines data from different parts of the organization pertaining to demographics, compensation, performance data etc. to discover underlying relationships between business-relevant outcomes such as Productivity, Leadership, Engagement and Quality of Work as a function of human capital interventions.
VISION OF KYE:
KYE’s vision is to allow business managers effectively segment their employee population in a data driven manner that allows for segments or groups of employees to be managed with an optimal mix of interventions that are uniquely customized to their needs. This way, the management is able to effectively allocate its human capital spend so that it derives the maximum bang for the buck, in addition to finally and definitely breaking the dominant 'one-size-fits-all' paradigm that has been governing HR practice for several decades.
WHY USE KYE:
KYE’s classification engine internally uses highly innovative segmentation algorithm to classify employees into appropriate employee segments, while the KYE’s analytics engine uses cutting edge predictive modeling techniques to quantify as well as simulate employee’s performance output metrics values.
FEATURES OF KYE:
Directly draws information from different data sources pertaining to demographics, compensation, performance, training etc.
Completely Customizable to suit the company’s policies and requirements.
Both aggregate as well as individual level performance metrics can be tracked at various levels.
Can simulate various intervention scenarios and the corresponding change to the performance metric measures.
Can be used to Optimize the total spend on the employees while Maximizing their Performance.
BENEFITS OF KYE:
Who are my best employees? How are they different from others?
How can I quantify the potential value of each employee more accurately?
How do I effectively segment my employee population?
How do changes in compensation & benefits affect the performance metrics of different employee segments?
What are the factors that drive employee performance?
How can I tailor training and incentives to enhance the employee performance?
How can I optimize my spend on an employee to maximize his/her performance?
