A key trend in 2014: talent.datafication

and the rise of the underdog

@Nicole_Dessain

HR.com, June 19, 2014

Key trends will shape the way we think about

talent in 2014

We used a unique method to identify ten talent trends that will shape 2014.

Download the FREE talent.trends 2014 report at http://talentimperative.com/resources/talent-trends-2014/

1. A key imperative: solving the skills mismatch riddle

2. Progress at Last? Women in top leadership roles

3. Employment remix: Talent-as-a-Service

4. talent.datafication and the rise of the underdog

5. The growth market conundrum

6. talent.experience is king

7. From innovation to talent.preneurship

8. talent.driven leadership is the new black

9. The contemporary CEO – emperor with new clothes no

more

10. Talent as a board level imperative

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What does big data in HR really mean?

Big data is all over the news…

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… and here to stay!

Board members say that “attracting and

retaining top talent” is considered one of

the most important levers for achieving

strategic objectives. (Harvard)

Employee turnover rates are forecasted

to rise with 160 million workers

preparing to leave their jobs in 2014.

(Hay Group)

Head of HR Analytics is one of the

top 10 executive jobs in 2014.

(Fortune)

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Scared yet?

Image credit: LinkedIn postImage credit: LinkedIn post

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Wanted: definition, training, support, and jobs

“Big data is high-volume, -velocity and –variety information

assets that demand cost-effective, innovative forms of

information processing for enhanced insight and decision

making.” (Gartner)

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The evolution of people analytics

talent.datafication is the ability to quantify talent-driven

organizational value creation and fundamentally change the way

companies view talent and predict business outcomes.

HR/Workforce

Analytics

“Employee data

for HR – the

what”

Examples:• Headcount

• Attrition

Talent Analytics

“Talent data for the

business – the

why”

Examples: • Predictors of top

performance

• Drivers of high

performer attrition

talent.datafication

“Talent value

quantification for all

stakeholders”

Examples:

• Personalized

performance tracking –

real time

• TX (talent.experience) =

CX (customer experience)

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Why are we making things so scary?

Myth #1: “I don’t work in talent analytics so why

should I care?”

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Image credit: Discover Magazine

Myth #2: “Big data means analysis paralysis

and more metrics we have to track.”

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Myth #3: “Big data will replace other

decision-making factors.”

“Dig up all the information you can, then go with your instincts. We all

have a certain intuition, and the older we get, the more we trust it. … I

use my intellect to inform my instinct. Then I use my instinct to test

all this data.” (Collin Powell, former U.S. Secretary of State)

Image credit: Junge Karriere

Photographer: Samantha Jones

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Myth #4: “Big data opens the door for increases

in discrimination and privacy infringement.”

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Myth #5: “Everybody welcomes talent analytics

with open arms.”

“An anthropologist might conclude that we are only capable of quantitative talent analysis while drinking beer on our couches. Ultimately, most leaders seem uncomfortable converting subjective judgments into quantitative evaluations.” (Tom Monahan, Chairman and CEO at CEB)

Image credit: Yahoo! Movies

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What Would Data Do (aka WWDD)?

Must Do #1: Design a roadmap based on your

level of talent analytics maturity.

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Must Do #2: Build analytics coalitions,

governance, and capability.

Talent Analytics

Framework

Capability

Governance

Coalition

Guiding Principles

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Must Do #3: Instill a data-guided, self-reflective

mindset.

“A mountain of scholarly literature has shown that the intuitive

way we now judge professional potential is rife with snap

judgments and hidden biases, rooted in our upbringing or in deep

neurological connections that doubtless served us well on the savanna

but would seem to have less bearing on the world of work.” (Don Peck,

The Atlantic: “They Are Watching You at Work”)

Image credit: FastCompany (Photographer: Andrew Whyte)Image credit: Workforce Magazine

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The underdog advantage

“Giants are not what we think they are. The same qualities that appear to give them strength are often the sources of great weakness. And the fact of being an underdog can change people in ways that we often fail to appreciate: it can open doors and create opportunities and educate and enlighten and make possible what might otherwise have seemed unthinkable.” (Malcolm Gladwell)

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Must Do #4: Empower leaders and employees

with analytics tools and education.

Leaders

Craft “crunchy” questions

Prioritize

Develop awareness of

“unconscious bias”

Co-design and educate on

guiding principals

Accelerate reporting

efforts with real-time data

insights via intuitive

dashboards

Keep talent topics top of

mind

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1 Term coined by Deloitte

Employees

Think of your employees

as talent.preneurs

Empower talent with data

to drive better job fit and

performance

Leverage data to assist

employees in identifying

skill gaps and to access

resources

Make it easy, safe, and

fun to share data (social;

gamification)

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Must Do #5: Create data-informed talent

success and experience profiles.

“Crunchy” Questions:

• What are our key talent

segments, who are the high

performers in each segment,

and what makes them

successful?

• What are our key talent

segments, what is the

demographic make up of

each segment, and what do

they value in an employer

across the talent.experience

lifecycle?

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Case in point: Google

1. Treat your employees’

data with respect

2. Use data to determine

successful attributes –

in individuals and teams

3. Determine which methods

are most predictive in

assessing success

4. Empower managers with

data to enable behavior

change

5. Don’t loose the human

insight

“One of the applications of Big

Data is giving people the facts,

and getting them to understand

that their own decision-making is

not perfect. And that in itself

causes them to change their

behavior.” (Laszlo Bock, The New

York Times: “In Head-Hunting, Big

Data May Not Be Such A Big

Deal”)

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But not every company is like Google…

Predict job

success

Enterprise Solutions Company – launched new

online evaluation with algorithm analyzing answers

along with factual information. Result: attrition

reduced by 20%. Finding: previous experience not

critical success but commuting distance driver of

retention.

Retention profilingHigh Tech Company – developed statistical profiles

for “retention risks” and conducted custom

interventions (mentors, compensation adjustment,

etc.). Result: Reduction in attrition rates by 50%.

Coaching insightsProfessional Services Company – created a real-

time dashboard for leaders with key retention and

engagement drivers; color coded for “red flags” so

leaders can take coaching or other actions.

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So, how do I get started?

Define key stakeholders and prioritize “crunchy” questions.

Determine your talent analytics maturity level.

Create a roadmap and change management plan.

Define needs for capability, coalition, technology, and governance.

Start with a “quick win” or pilot.

Don’t get discouraged and don’t be afraid to ask for help.

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