You've probably heard about the Quantified Self (QS), a movement that aims to capture, analyze, and act upon data from the human body in the interest of better health, fitter athletes, and sharper minds. Today, QS is giving way to QW -- Quantified Workforce. A variety of technologies -- devices, software, services -- can quantify the health, fitness, mental acuity, timeliness, and collaboration of workers. Many of these services are ready for prime time, but present some challenges in implementing. These challenges aren't primarily technological; they're related to privacy, workers' rights, and human resources policies. Done right, though, quantifying the workforce can drive both top- and bottom- line growth in your company's business.
I've analyzed this trend in a new report, Smart Body, Smarter Workforce. Here are just a couple of examples of how quantifying the workforce can drive better business outcomes:
- Lower the company's insurance rates. In January, 2014, Forrester predicted that insurance companies would offer lower rates to individuals who donned wearables -- and we are now seeing that response. In April, 2015, John Hancock announced an opportunity for buyers of its term and life insurance policies to earn up to 15% discount on their insurance rates by wearing a Fitbit, sharing the data with the company, and meeting certain activity levels.