Data-Driven Tips to Supercharge Your Talent Management

When it comes to hiring, developing, and retaining top talent, many organisations still rely too heavily on traditional methods like evaluating resumes and educational pedigrees.

However, as Roger Philby Managing Partner of New Street Consulting Group (NSCG) explained in this weeks Talent & Growth - The Talent Acquisition Podcast podcast, this approach is deeply flawed because experience and academic achievement are among the worst predictors of future job performance.

Instead, organisations need to take a more data-driven approach to talent management. Drawing from his decades of research and consulting experience, Roger offers three key tips:

Measure what actually matters for performance

The first step is determining what factors truly drive success in a given role and organisational context. Experience tells recruiters to rely on superficial criteria like industry experience, but the data often shows these have little correlation with high performance.

Using tools like psychometric assessments, you can objectively measure traits like cognitive abilities, personality fit, motivations, and behaviours that are proven predictors of success for that particular job. Focusing your hiring process on evaluating these relevant factors, rather than irrelevant ones like pedigree, allows you to open the talent pool to more qualified candidates.

Context is king

An individual's potential for high performance depends heavily on aligning their talents and motivations with the right organisational context and role. As Roger explains, "In some organisational contexts, you will be brilliant. In others, you will be hopeless."

By carefully defining job needs based on factors like company culture, growth stage, management style, etc., you can identify the precise type of talent profile required to thrive in that specific context. Overlooking contextual fit is a primary reason why seemingly stellar hires from prestigious companies often fail in new environments.

Make developing talent your top priority

In today's rapidly changing world, the ability to continually upskill and develop new capabilities is essential for both individuals and organizations. The best companies make proactive talent development a core part of their culture and growth strategy.

As Roger advises: "Think of the line, how do I develop my capability ahead of my current revenue growth? You should be intensely focused on what capabilities do we need now and in the future to keep this business growing?" Mentoring, training, stretch assignments and clear career paths are key for engaging and retaining top performers long-term.

By applying a rigorous, data-driven approach to evaluating talent potential, creating ideal role/culture matches, and prioritising continuous development, companies can overcome skills gaps, boost employee engagement and build a sustainable competitive advantage around talent.

Check out the full episode right here.