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Is Talent Analytics the holy Grail of HR?

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Overview

Part 1. Big Data - HR Analyics - Talent Analytics?

Part 2. What is the current situation?

Part 3. Our opinion on Talent Analytics

Tribute - Credentials - Respect Everything I will talk about has probably been said, written, posted, tweeted, shared by any number of sources around the world.

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Big Data everbody talks about it, but.....

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Big Data “volume” (the amount of data), “velocity” (the speed of information generated and flowing into the enterprise) “variety” (the kind of data available) to frame the big data discussion.

Others have focused on additional V’s, such as big data’s “veracity” and “value.”

Gartner

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One thing is clear

Every enterprise needs to fully understand big data

1.what it is to them, 2.what is does for them, 3.what it means to them 4.& comprehend the potential of data-driven HR.

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But just facts or data...

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Analytics?

Talent Analytics : Employee data for the Business.Talent Analytics is a quantitative employee dataset about people doing the work that represents the de facto standard for business leaders interested in better understanding the impact of their people on performance.

Workforce Analytics: Employee data for HR.Workforce Analytics is a broad term for an evidence-based approach to smarter decision making by tracking past employee activities to predict future outcomes. This is typically done by the HR department.

The difference  Analyzing talent as numbers in conjunction with business outcomes Workforce analytics is done without performance data. Talent analytics is analyzed with performance data.

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HR Analytics - What it is & is not

IS a tool to collect data

useful for predictive modelling

allows to make use of Talent data as business data

about quantitative data

NOT a decision making tool

necessarily provides insights

a replacement for Talent Management

provides qualitative insights

It’s a tool – just a means to an end.

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Part 2. What is the current situation?

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Then something happened…Untill 2008 we had a relatively stable environment

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Then something happened…

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Financial Crisis

Global Recession

New economicpower balance

Birth of the Talent Economy

Internet Society

Instant Consumerism

New Work Values

Informed Audience

Real Estate Bubble

2008

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Talent Analytics – Why now?

Because we can -Technological evolution

Because we need to- Faster – better –

cheaper- Shortage in talent- Global workforce - Rise of the Talent

Economy

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ECONOMIC CONTEXT

Shift from industrial/ information age

GlobalisationWar For Talent - Brain Drain

Digital EconomyGlobal Recession

ORGANISATIONAL (Demand)

Increasing demand for skilled workforce Talent shortageNew Business Models Changing HR strategies

SOCIAL (Supply)

Demographic trends (ageing, Gen Y,...)

Workforce Mobility Workforce Diversity

New work values (W/L balance, Me time, ...)

TECHNOLOGICAL www Cloud – SaaS – PaaS – IaaSBig Data Handheld devices – mobile

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Just some www quotes

From Questions to Actions (DDI)

From small to Big Data (Net Dimensions)

Go from talking to delivering (Bersin)

“Competing on Talent Analytics” (hbr)

Talent Analytics comes of age Forbes

The Challenge for HR (CIPD)

38.900.0

00

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Talent Analytics today?

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Too bad

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More numbers

78 % +10,000 FTE rated HR and talent analytics as “urgent” or “important”

45 % rated themselves “not ready” for HR analytics

7 have “strong” HR data analytics

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More numbers

81 % use analytics in finance, 77 % in operations,

58 % in sales,

56 % in marketing.

86 % NO analytics capability in HR

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The ones that do...

“4% of companies have achieved the capability to perform predictive analytics about their workforce.”

“Stock market returns are 30% higher, leadership pipelines are 2.5 x healthier, 4 x more likely to gain respect of your business counterparts.”

Forbes, Big Data In HR, 2013

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HR AnalyticsBusiness Analytics

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4%

10%

30%

56%

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3. Our view on Talent Analytics

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One problem....

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The 3 S’s

Silos SkillsSuspicio

nSkepticis

m

Structural

Systems

Make & migrate

Build & Buy

Biases, Beliefs, Behaviours

Fears

Oracle/cipd

There are also challenges

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How do we fix this

Something is still missing

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External environmentNon ManageableInternal environment

Manageable

Individual characteristics(Personality, education, lifecycle, …)

Individual

More than WHAT data

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Is there a future for Talent Analytics?

Start today. Don’t wait.

Combine WHAT & WHY data !

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Thank You - Questions

Meet you in the