How HR Analytics is Accelerating Workforce Capabilities & Developing the Leaders of Tomorrow? - RECAP
Talent management, acquisition, and succession planning are key factors when it comes to a successful analytics strategy involving human capital. As companies invest in their employees, recruiting techniques must also evolve. Last week, I was fortunate to learn from top leaders in human capital analytics:
I jotted down a few notes for my network's benefit.
Market environments are more disruptive than they have ever been. To find and accelerate the development of talent, use fresh data that allows you to understand where opportunities and gaps exist, so you’re ready for disruptive changes as they happen.
RJ Milnor: "Find where supply is greater than demand."
Workforce leadership in a remote environment requires an entirely new set of skills to develop and accelerate the development of talent. The savviest approach is to find interconnections with more clarity by leveraging internal market data. This allows you to find opportunities within your organization from a skills or experience perspective.
Jeremy Shapiro: "Track cultural changes over time."
In HR, a data science role does more than just find insights. To organize and manage talent, HR leaders should measure behavior to learn how employees are shifting their methodologies. They should also use data to inform and empower managers to make decisions in an accelerated fashion.
Pyush Mathur: "Most business models are getting disrupted. If you work for a company where the biz model is stagnant, then you should change the company."
Finding ways to match jobs with profiles is a huge task J&J is undertaking. J&J receives 1.2 million resumes every year. They only hire ~20k people. That is less than 2%. Statistically, it’s more difficult to get into J&J than Harvard. Many candidates make it to the last round but not to the role. They become “silver” candidates that lie in the background. As jobs get posted, their HR recruiters can find people that already exist in the database and reach out to them.
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Track your internal supply chain
In developing succession pipelines for VPs and directors, it’s often by word of mouth. Data- driven methods may involve having people complete Workday profiles, giving them a higher chance of being identified for job promotions. This is done by taking a job post, searching the Workday profiles of employees, and pulling out a shortlist of candidates.
Olivier Vantaerk: "Many data science techniques rely on antiquated job models to identify jobs and career opportunities within the organization."
Employee profiles constitute only one part of existing employee data. There’s also emerging analytic techniques:
Apply emerging organizational network analysis:?
Diversity is in thought AND representation.?
There are unintended consequences of who/what we know. From a talent perspective, key initiatives should include expanding diversity and removing bias. Vertically siloed exposure to talent is limited. You cannot build a future leader by only taking them vertically through one part of the business.?
Focus on creating a culture, demand, and an expectation of talent in your org where the objective is vertical movement. However, prioritizing the fastest way to expand control and influence may erode a company from the inside out.
Hilary Spala: "Human capital analytics gives your local supply chain better visibility into the capability and knowledge in your front lines."
COVID-19 is a human crisis and HR is positioned to provide answers. Leaders in HR analysis can guide their organizations towards decision-making by using the best available strategies. As organizations strengthen their human capital, there’s a set of critical experiences, capabilities, and exposures to manage to get ahead on hiring the top talent.