Millennials and Gen Z
Over the course of the past 20 years, we have seen a steady shift of our workforce towards the Millennials and GenZ’ers. There are some very clear and distinct characteristics of the modern workforce that differ from the aging workforce, that are not being leveraged today. When effectively understood, they have a clear and immediate impact on Enterprise Performance, which ultimately leads to sustainable economic benefits for their shareholders. Millennials and GenZ’ers have one significant thing in common that differs from prior workforce generations, they have grown up having been apart of the digital world. In the case of Millennials, entering the digital world was more of a right of passage than for GenZ, who are being given mobile devices at earlier ages as time goes on.Millennial generation The pivot towards digital has rippled through everyone that has entered the workforce starting in the early 2000’s. Leveraging mobile devices to interact with the world digitally is in everyday life now, even for middle and high school students, with their homework assignments and grades being accessed through laptops and phones. The team soccer roster and schedule, drama club rehearsal times, and community conversations around events are all immediately accessible, causing a workforce that is now used to interacting with all aspects of their life digitally, as soon as they want to. We now have immediate access to data that satisfies our immediate need for gratification. Interacting with smartphones releases the same dopamine that awakens the senses from other pleasure sensors like from great food and romance. The next ripple in the digital world is satisfying a need for immediate answers to questions we don’t even know we have. When you get in your car in the morning, your iPhone tells you how long it’s going to take to drive to your office before you have even left the driveway. Facebook will not only tell you to wish your friends a happy birthday, but also recommend going a step further and planning an event for friends that are even closer to you. LinkedIn will provide choices of responses to a message you receive to make your ability to communicate in their ecosystem even easier. Artificial Intelligence will now communicate Insights to people at just the right time, and in the B to C world, several companies have gotten really good at it. And when people are notified with good Insights, this leads to very positive outcomes. For example, If you can get into your car and your phone tells you it will take longer due to very heavy traffic, you may choose to leave later so as not to miss an important phone meeting. The evolution in our digital world is leveraging 3 distinct new technologies that will continue to satisfy the demands of our workforce as companies attack the B to B world. And when they are cleverly deployed together, it satisfies the cultural paradigm of immediacy, along with proactively engaging with our workforce towards achieving greater results. KPISOFT has figured this out, and now every single client can point to a clear and immediate benefit that continues to improve results and change the conversation around Enterprise Performance.  The 3 distinct new technologies: 1. Artificial Intelligence. This is a term being thrown around similar to CRM or The Cloud when they were first introduced. SImply put, AI is the art of interpreting unstructured data sets to communicate relevant findings or answers from analyzing it. A simple example would be helping a pharmaceutical sales person maximize their day by helping them plan their sales calls based upon data such as traffic, physician busy times, or other variables. These data sets are available because we know the sales person’s calendar, and we have access to public domain data and when combined with a good AI engine, good insights are available. machine learning and AI  2. Machine Learning. AI applies logic to analyzing data. Machine Learning evolves the logic. By algorithmically analyzing unstructured data across billions of permutations, machine learning can become predictive. If we do this, then that will happen. Let’s take retail banking for example. Suppose a snowstorm is coming. We know from past experiences that when the weather gets bad, there is a spike in cash outflows in ATM’s in and around grocery stores. AI engines benefit from understanding changes in data and repeating patterns in such a way that alerts can be proactively given electronically to those accountable to make sure ATM’s are properly stocked so consumers don’t receive the message “SORRY, NO MORE CASH AVAILABLE”.  3. Natural Language Processing. NLP is the science of enabling devices to communicate humanly in the digital world. Without NLP, a person still benefits from AI and Machine Learning, but by leveraging NLP, we remove a translation step in the brain. We simply communicate with technology the way in which we already think. Following our ATM cash example, a classic “BI” (Business Intelligence) solution would show spikes in cash outflows, on certain dates, which may be overlaid with weather data. The bank manager would therefore conclude…”Hey, it looks like we need more cash when the weather is bad”. NLP removes the need for the bank manager to conclude anything. It simply translates what the data is telling us to say “Add an additional $5,000 to ATM’s 1, 2, and 3 because a snowstorm is coming”. Results are now being documented that are mind-blowing. Why? How has KPISOFT used these 3 technologies to have such a meaningful impact on results? This is how. 1. Purpose. Numerous studies have been published citing how important it is for the current and future workforce to fully understand the impact their job and performance has on corporate results. KPISOFT makes the impossible, possible. When an organization can articulate the KPI’s it cares about at the corporate level, KPISOFT’s platform provides a multi-dimensional view on those KPI’s with drill-downs all the way down to individual workers. KPISOFT democratizes the data to create an enterprise benefit for non-linear impact. And from the workers’ perspective, they can see how their performance directly impacts the KPIs of the entire company. The clear transparency and presentation of employee accountability yields immediate results. Employees feel more connected to their jobs, and feeling purposeful improves performance as well.  2. Immediate Gratification. We’ve already discussed how immediacy is the new normal for our workforce. KPISOFT is able to leverage near-real time data and business intelligence that is used to create insights that improve their performance results. Workers access their KPIs and job performance data through an app on their phones. KPISOFT is accessed on request as well as through push notifications when KPISOFT predicts ways in which workers can improve results. For example, I may access my app to see how I’m doing towards my weekly goals, as well as how I’m doing against my peers. And I may also receive a notification from KPISOFT with an insight that suggests I call upon a particular customer based on something that was in the news about them today. By appealing to people’s innate desire for immediate gratification, companies deploying KPISOFT benefit from having more engaged and accountable employees. And most importantly, by democratizing and managing the entire organization with AI, small incremental improvements multiplied across the entire enterprise yield full scale / non-linear results. performance visibility  3. Replace the Annual Review with the Now Review and offer Rewards for achieving incremental successes. Similar to leveraging workers’ need for immediate gratification, KPISOFT enables a rewards system that runs in parallel to their corporate performance evaluation process. KPISOFT has a points system that enables workers to earn points for achieving goals defined by the organization. Those points can be used to acquire things that KPISOFT makes available, such as restaurant vouchers, Fitbit's, and other things. There is a gamification element to this disruptive approach to the appraisal process that undoubtedly appeals to all millennials and gen z’ers. It also empowers employees to decide for themselves whether to bank those points towards a greater reward or to cash in on smaller rewards faster. As kids, many of us have gone to arcades where we played skee-ball or other video games that rewarded us with tickets. At the end of our visit, we approached the counter and had the excitement of selecting a prize based on their point values. Some of us were quite happy with the smaller prizes, and some of us held on to our tickets until our next visit so as to earn towards a bigger prize. Gamification is a key attribute of new human interactive technologies and KPISOFT understands this. As Olympic swimmers get faster, we help them further by inventing swimwear that creates less drag. As our schools leverage technology in new ways, we give them Smart-boards to enable a more interactive learning experience. KPISOFT empowers its clients to improve their business performance by providing tools that enrich the entire organization with useful insights that are specifically linked to a strategic performance goal. And, with the use of our App, good employees can become great employees and great employees can become superstars. For more information about how KPISOFT works, please visit our website www.kpisoft.com

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