The California-based firm of Frost & Sullivan, providing multi-sector business consulting, research and training worldwide, recently issued a new set of guidelines to spotlight a trending HR approach known as Personalized Workforce Optimization (PWFO).
PWFO works through “relative metrics” to enhance performance assessment, viewing employees’ functioning in an appropriate context throughout the full cycle of recruitment, onboarding and prediction with an emphasis on personalization.
"Companies are facing the challenges of attracting and retaining engaged customers and employees, in addition to driving strong results from them in a highly competitive marketplace," Frost & Sullivan’s digital transformation principal analyst Nancy Jamison said. "The answer lies in personalization.”
PWFO strategies endorsed by Frost & Sullivan include improving employee goal management, scheduling and engagement; hiring, onboarding, coaching and training; career planning, talent management and employee loyalty; and cost savings.
“A successful customer marketing and engagement strategy, personalization is also an effective employee PM and HR strategy,” Jamison said. “PWFO applications tap personalization to help companies and HR departments reach C-Suite goals, along with shareholder value enhancement."
More and more, employers are recognizing that individual attention is the way to maintain rapport with clients. Tools for this end include AI, machine learning and predictive analytics, allowing businesses to customize approaches to marketing along with products and services.