thalento® presentation hrm expo russia 2014: "big data, is talent analytics the new holy...
TRANSCRIPT
Thalento nv | Voogdijstraat 31 | 3500 Hasselt | Belgium+32 11 28 62 42 | [email protected] | www.thalento.com
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