Tag Archive for: talent analytics

Keep Your Keepers! A Winning Talent Strategy for 2017 – Part 1

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Build a Foundation of Integrated Talent Management that Drives Engagement!

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As we embark on a promising new year, organizations are positioning talent strategies to meet their business goals. Regardless of the industry, achieving alignment of talent goals with business objectives is essential for strategic and organizational success. Foundational to effective talent management is an integrated approach that facilitates engagement. To effectively identify your organization’s top talent management priorities, it is crucial to understand your business strategy. Only then can talent management processes be aligned effectively to that strategy.
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The Weak Link in Predicting Private Equity Investment Success

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Talent decision analytics pay off across every business metric!

weaklinkbusinessclimberNo industry is more disciplined in analyzing data relevant to investments than are Private Equity firms. Their financial, operational and market analyses are comprehensive and rigorous to ensure the best investment decisions for their investors and portfolio companies.

On the other hand, evaluation of leadership, organization and culture is subjective at best. While many case studies demonstrate that the health of an organization’s culture and quality of leadership are top predictors of success, measuring those critical factors has been more an art than a science. Korn Ferry’s July, 2016 Briefings includes the article, Why Boards Make Bad Decisions, which emphasizes the importance of having a sound succession plan and the right team in place for ongoing success. This advice is equally vital for PE firms. Yet, measuring leadership fit and cultural health has been the weak link in predicting success for Private Equity investments!
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The Weak Link in Predicting Business Success

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Talent decision analytics pay off across every business metric!

weaklinkbusinessclimberBy Sheryl Dawson, CEO Dawson Consulting Group

No function is more disciplined in analyzing data relevant to business success than business development. Their financial, operational and market analyses are comprehensive and rigorous to ensure the best investment decisions for their investors. On the other hand, evaluation of leadership, organization and culture is subjective at best.

While many case studies demonstrate that the health of an organization’s culture and quality of leadership are top predictors of success, measuring those critical factors has been more an art than a science. Korn Ferry’s July, 2016 Briefings includes the article, Why Boards Make Bad Decisions, which emphasizes the importance of having a sound succession plan and the right team in place for ongoing success. Yet, measuring leadership fit and cultural health has been the weak link in predicting success for businesses across industries!
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Nervous about Filling Your Talent Pipeline?

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Are you getting nervous about how to fill your talent pipeline during the next few years? If you said no, you may want to consider the cold hard facts of what we are facing. According to the Pew Research Center, 10,000 baby boomers will reach retirement age every day from now through 2030. In addition, staggering statistics abound; 50% of U.S. government workers are eligible to retire and 55% of registered nurses can be expected to retire between now and 2020.

While unemployment remains high, finding skilled workers to fill open positions is among the top challenges in virtually every organization. As the economy improves, top talent will have more choices and attrition will accelerate. In addition, “X” and “Y” generation leaders will require us to evaluate our approach to career progression/options, work-life balance and global factors. This, along with strategic uncertainty, the impact of social media and data overload, and the increasing velocity of business, indicates mounting people challenges ahead for businesses large and small.

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DESP… Pick the Right Employee

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Many organizations use various tools and techniques for identifying their talent pipeline. Some use a “nomination approach,” while others use traditional tools such as a performance and potential matrix, a tool used by managers to identify high-performing individuals who are potential promotion candidates, creating lists of probable candidates.

DESP: A New Approach to Traditional Succession Planning Models

We suggest that a more comprehensive and objective approach with four key components, or “pillars,” will provide the rigor and discipline to produce a solid and fluid pipeline of talent. The “four pillars” are the critical components to be considered with any strategy.

Each has its own set of contributing factors, and collectively they produce a solid foundation for execution. We refer to this as the “DESP” model.

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New Tech to Manage Hiring

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They say data is king. He who gathers and uses the data the best wins, no matter what the goal. So if your goal is to hire the best suited person for the job, are you optimizing your data?

For the last twenty years, the HR solutions for hiring used slow, inefficient processes to choose the right job candidates. Other departments, such as bookkeeping, sales and customer service evolved from using static, standalone contact systems to more sophisticated automatic systems. These new systems cut down on tedious entry work and added efficiencies and greater performance. They free up labor to perform more personal and human tasks allowing for better customer and prospect engagement and tighter financial performance.

Yet, HR talent acquisition remained limited to software filled with old data that required manual updating and was difficult to use. Time and space were being taken up with paper application or slow digital storing and sorting processes. With these systems, 80 percent of a recruiter’s time was typically spent performing low-level mindless tasks.

However, hiring and development of good talent is getting a boost from more sophisticated data management. Forward thinking companies are now utilizing more sophisticated software systems that use data science and predictive analytics to alleviate the menial work.

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New Role of HR Manager- HSM

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Hiring and development of good talent is getting a boost from sophisticated talent data management. Forward thinking companies are now utilizing more sophisticated software systems that use automation, data science and predictive analytics to optimize talent decisions while increasing efficiency in talent management processes. This new breed of “smart” hiring software is fueling an emerging category called hiring success management (HSM).

As HSM becomes more prevalent and computers take over much of the routine side of recruiting, some industry watchers have expressed concern that recruiters’ roles would become obsolete. In fact, the opposite is true.

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Using a Job Suitability Assessment

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There are many types of assessments and each has its own purpose.

A critical consideration in selecting an assessment is to use an assessment that fits your purpose. If you are attempting to hire, develop, promote, and retain talent, the assessments must produce reports that are related to the requirements of the job.

If you use a job suitability assessment, there are several important factors which make the assessment useful. These include:

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Do You Have a Drama King/Queen ?

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Drama Queen

Do you have a Drama King or Queen? You know the type….

Characteristics: Wants the whole world to know what’s happening in their lives and ever ready to share openly the ups and downs of their all too public soap operas.

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You are not a Style, YOU are Unique!

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Who does not enjoy taking behavioral personality assessments to better understand themselves? We are infinitely interested in who we are, how we interact with others and just what makes us tick! The problem is, most assessments measure a very narrow set of traits. Many common psychological and behavioral assessments look primarily at personality traits. For instance, Myers Briggs and DISC are widely used to measure personality styles. Imagine of the 6+ billion people in the world, you are one of 16 Myers Briggs styles! So what exactly does that make you — 1 in 375,000,000? No, YOU are unique! To appreciate just how unique you are, view this powerful video and be encouraged: You are Unique
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Succession Planning- Hire Leaders from Within

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Succession Planning Hire Leaders from Within

To Hire Leaders from Within, or to bring in Outside Leaders? That is the Question

During these times of high structural unemployment, finding skilled workers to fill open skilled positions is among the top challenges in virtually every organization. As the economy improves, top talent will have more choices and attrition will accelerate. In addition, “X” and “Y” generation leaders will require us to evaluate our approach to career progression/options, work-life balance and global factors. This, along with strategic uncertainty, the impact of social media and data overload, and the increasing velocity of business, indicates mounting people challenges ahead for businesses large and small.

Sometimes hiring external candidates to meet these needs is a sound strategy. However, according to research by the Center for Creative Leadership, an astonishing 66% of senior managers hired from the outside fail within 18 months. Clearly, our historic view of leadership and talent pipeline readiness will have to be redefined.

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Finally, A Way to Effectively Predict Potential!

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A WIN-WIN Strategy for Leadership Development

fairHairedSyndromeOrganizations have been utilizing the 9-box approach to succession planning for many years, yet the challenge of measuring potential is often very subjective and based on who knows whom! Organizations have sought to reduce the impact of the “halo effect” or “fair-haired” syndrome by developing leadership competency models and applying them to the evaluation process. However, the challenge of actually measuring one’s potential relative to competencies generally remains subjective. Finally, there is a behavioral analytics approach that removes the subjectivity of predicting leadership potential. How is it accomplished?
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Harrison’s Job Success Formula- JSF

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Harrison Assessments Job Success Formula

Harrison’s Job Success Formula- JSF
Personality tests are increasingly popular due to the importance of understanding how an employee or job candidate will behave. Since poor performance usually relates to behavioral issues, measuring job behavior is essential.

However, personality tests are very general, usually measuring only 4-30 personality factors which are used for every job. In contrast, Harrison Assessments’ award winning suitability assessment is designed to measure engagement, motivation, interpersonal skills and retention factors related to specific jobs.

Ever wonder how Dan Harrison and the Harrison Assessments formulate the success factors for a specific job?

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