Employee Appreciation & Productive Recognition Reasons why Excel may not be the best option for managing organizational workforce 8 Cons of using excel spreadsheets in hr
Evolution of SpreWadhsahteIetss Em- AploqyuiceekAtpimpreelinciaetion
1978 – VisiCalc: First ever electronic spreadsheet
Timely, formal or informal, expressed and appreciative acknowledgment of a person’s or team’s efforts above and beyond the call of duty or reasonable expectations in the course of their professional endeavors, or behaviors and results which uphold the company’s goals and values.
1980 – SuperCalc: Solution bundled with WordStar Employee Appreciation & Productive Recognition
What Is Employee Appreciation 1982 – Multiplan: Early spreadsheet program by Microsoft
1983 – Lotus 1-2-3: Improvised tool with charts & graphs
Timely, formal or informal, expressed and appreciative acknowledgment of a person’s or team’s efforts above and beyond the call of duty or reasonable expectations in the course of their professional endeavors, or behaviors and results which uphold the company’s goals and values.
1985 to present day: Progressive versions of Microsoft Excel made available Timely, formal or informal, expressed and appreciative acknowledgment of a person’s or team’s efforts above and beyond the call of duty or reasonable expectations in the course of their professional endeavors, or behaviors and results which uphold the company’s goals and values.
What’s behind Excel’s popularity? Employee Appreciation & Productive Recognition
The fact that it is free, readily available, configurable on basic machines and easily manageable for small business setups has backed its extensive use Employee Appreciation & Productive Recognition
Around 81% of the organizations use spreadsheets to supplement their Corporate Performance Management solutions Employee Appreciation & Productive Recognition
Does this imply it is the best solution for HR? Employee Appreciation & Productive Recognition
Probably Not. It is not geared to face the challenges posed by large well-established organizations with evolved HR processes and soaring employee
strength Employee Appreciation & Productive Recognition
What are the major disadvantages of Using Excel In HR? Employee Appreciation & Productive Recognition
Reason #1 - Privacy Issues and Poor Built In Controls
Employee Appreciation & Productive Recognition
You can hardly control the viewership of the data making it vulnerable to alterations. Not to forget, there are no checks to test the accuracy of data sources gettinEmg ppulolleyedeinAtpoptrheecisaptiorenad&shPeretsoductive Recognition
Reason #2 - Prone to Human Errors
Employee Appreciation & Productive Recognition
The reason why people love Excel is the scope for rework and manipulation. The chances of mistakes increase drastically when several versions of a spread- sheet are saved by several people. Employee Appreciation & Productive Recognition
Reason #3 - Unfit for Dynamic Business Scenario Employee Appreciation & Productive Recognition
Excel is incapable of error proof knowledge transfer. If a person X leaves, then person Y has to apply his own interpretation when working with spreadEmployee Appreciation & Productive Recognition sheets. Non-responsiveness to business agility leads to wastage of time, opportunity, productivity and competitive knowledge
Reason #4 - Doesn’t support automatic reporting
Employee Appreciation & Productive Recognition
Manual naturEmepolofhyaenedAlinppgrescipraetadionsh&eets,PromducaktesivescRheecogdulenidtiodenliveryof standard reports to multiple users next to impossible. Tedious E-mail is the only way out!
Reason #5 - Not Scalable
Employee Appreciation & Productive Recognition
Data grows with organization. Managing huge databases on excel without slips and misses is a non existent case. Larger organizations need solutions thatEmcanplodeycieephAerppcoremcipatlexionco&nnPreocdtioucntsivaenRdedepcogennitdenioncies
Reason #6 - Hinders Quick Decision Making
Employee Appreciation & Productive Recognition
Long drawn consolidation process with different versions of data and error checking mechanisms leads to handicap situation for business Employee Appreciation & Productive Recognition
Reason #7 - Teams and Excel don’t go together
Employee Appreciation & Productive Recognition
Organizational activities are rarely individualistic. Excel in non-suitable for collaborative initiatives as there is no central database with realtime accurate information
Employee Appreciation & Productive Recognition
Reason #8 - A risky affair
Employee Appreciation & Productive Recognition
Excel spreadsheets constituting too many formulas and cell references becomes prone to costly mistakes as there is hardly any documentation available explaining the links with zero auto-correct features Employee Appreciation & Productive Recognition
Cake HR - Your HR. Simplified. Employee Appreciation & Productive Recognition
Are we blowing the issue out of proportion? People have been using Excel for years now!– We don’t think
so Employee Appreciation & Productive Recognition
Seemingly benign human errors have led to dramatic and horrific business losses!
Employee Appreciation & Productive Recognition
Case #1 - The TransAlta Mistake
Employee Appreciation & Productive Recognition
One of the biggest Canadian Power Generator in American Continent suffered a humungous loss of $24 million. Reason? You guess it right. Excel
Employee Appreciation & Productive Recognition
TransAlta CEO, Steve Synder, reported that the losses was an outcome of simple copy paste error which went unnoticed prior to bid submission.
Employee Appreciation & Productive Recognition
Result of the spreadsheet error – Company bought more US Power transmission Contracts at higher prices leading to the fiasco.
Employee Appreciation & Productive Recognition
Case #2 – Centre for Regional Strategies
Employee Appreciation & Productive Recognition
Messed up Excel sheet led the company incorrectly report that only 11 percent of New Century’s population above 25 years old held a bachelor’s degree. The correct figure was 20 percent Employee Appreciation & Productive Recognition
How did it affect the company? Botched up its reputation and credibility How did it affect the region? PEmlaceplodyNeeewApCpenretciuratyiorneg&ionPrboedloucwtiovtehRerecogareanis tliokne Nashville and Athens which were thought to be better educated
Case #3 – Dominion Transmission Inc.
Employee Appreciation & Productive Recognition
The Natural Gas Provider reported incorrect figures of weekly Gas Storage resulting in false inflation of gas prices
Employee Appreciation & Productive Recognition
The artificial price hike was estimated between $200 million and $1 billion. Consumers of the company sued it for this atrocious mistake
Employee Appreciation & Productive Recognition
What was the reason behind this big goof up? A naïve blunder of saving the excel sheet under same name for each weekly storage report. A classic case of oversight ! Employee Appreciation & Productive Recognition
Case #4 – Fidelity’s Magellan Fund
Employee Appreciation & Productive Recognition
The company had to face huge embarrassment when their estimation to make $4.32 per share proved to be a failure
Employee Appreciation & Productive Recognition
Culprit – Data Transfer among Excel Spreadsheets The company accountant accidentally omitted the negative sign on the net capital loss of $1.3 billion treating it as net capital profit instead. All this while taWkinhgatDIsatEma frpolomyeSeheAetppAretcioaBtion
Trivial Mistake with huge implications Fidelity Fund’s estimate was off by a staggering $2.6 billion What Is Employee Appreciation
After Thoughts
What Is Employee Appreciation
For those who still believe in the comfort of familiarity offered by Excel Spreadsheets, can suffer both - in the short term or long haul owing to its offline and non-dynamic nature What Is Employee Appreciation
World is moving towards internet and cloud based Business Intelligence Tools and Software that make life easier and organized for HR Community What Is Employee Appreciation
Final Strokes
What Is Employee Appreciation
Excel is a useful tool for simple data entry and basic analytical tasks Sophisticated reporting and business analysis requires advanced software applications Spreadsheets are for support. Not the be all end all of Business What Is Employee Appreciation
Cake HR - Your HR. Simplified.
What Is Employee Appreciation