the latest hr technology to drive productivity & profit
TRANSCRIPT
The Latest HR Technology to Drive Productivity & Profit
Productivitythe quality, state, or fact of being able to generate, create, enhance, or bring forth goods and services.
Profitpecuniary gain resulting from the employment of capital in any transaction.
Peoplethe entire body of persons who constitute a community, tribe, nation, or other group by virtue of a common culture, history, religion, or the like.
A New World of Work in Australia and Beyond
Macro Global Economic ForcesSIMULTANEOUS FAST DISRUPTIVE
Source: PWC Advisory 2015c
Big Data
Mobile & Consumerisati
on
Cloud Computing
86%CEOs expect
tech to transform their
business
39%
CEOs that believe HR is well prepared
The Evolution of Technology
20202010200019701950
8%9% 10
%
15%
21%
Proportion of the population aged 60+ years
The Workforce Is Aging
50%
Half of the global workforce will be Millennials in 2020
And…Getting Younger at The Same Time
2020
Work is Changing
Who
What
Where
When
How
Changing Needs of Employees
Source: Aon Hewitt 2015 Global Employee Engagement Survey
Impact to Human Resources and Talent Management
1995 2005 2015
PROCESS-CENTRIC
INTEGRATED DATA-DRIVEN
Talent Management Is Changing
Talent Acquisition
Learning & Development
Performance Management
Compensation Management
Succession Planning
From: Linear Talent Management Processes
To: Truly Integrated Talent Management2 3
41
57
6
PerformanceManagement
Sourcing&Recruiting
Learning &Development
Talent Strategy& Planning
Compensation& Rewards
SuccessionPlanning
LeadershipDevelopment
Co mpetency Management
HR Data and Metrics
Are you attracting and hiring top talent?
Do you have a culture of collaboration that engages your people?
Are your new hires quickly reaching productivity and blending into your culture?
Can you deliver modern learning—both formal and informal?
Are you giving your people continuous feedback?
Can you identify and retain your top talent at all levels?
Critical Talent Questions
Do you have a complete view of your entire workforce?
Can you provide talent reporting and data-driven predictions and recommendations?
Is your compensation plan fair and designed to drive performance?
RECRUITING
ONBOARDING
CONNECT
LEARNING
PERFORMANCE
COMPENSATION
SUCCESSION
LINK
ANALYTICS
What is Big Data?Our apps are collecting data all the time.
Define the question.Use the data to unlock the answer.
How does it Work?The power of analysing all this data with a state-of-the-art machine learning platform.
And Now, Big Data
Types of Data Analytics
What happened? Why did it happen? What will happen? What should I do?
Who will stay longer?
What social factors lead to more engaged, high-performing employees?
What activities lead to quicker time to productivity?
Who will be out of compliance?
What factors lead to high or low performance?
Who will be a high-potential successor?
What pay structures lead to higher performance?
Predicting The FutureRECRUITING
ONBOARDING
CONNECT
LEARNING
PERFORMANCE
COMPENSATION
SUCCESSION
‘If you knew at time of hire,
what you now know,
would you hire that person again?’
Yeah, but…People & Productivity
2 3
41
57
6
PerformanceManagement
Sourcing&Recruiting
Learning &Development
Talent Strategy& Planning
Compensation& Rewards
SuccessionPlanning
LeadershipDevelopment
Co mpetency Management
HR Data and Metrics
Source: Bersin & Associates 2011
Strategy, Management & Competency
Individual• Knowledge• Skills• Attitude• Intellect• Personality• Experience
Environment• Job Process• Culture• Reward Systems• Synergy / Teamwork• Management Approach• Social Situation
What is “Performance”? P = fn (I x E)
Performance = function of the interaction of the individual and the Environment
Variation in individual performance in any job is high
Research suggests the top 1/3 is 40% more productive than the bottom 1/3
Source: Research conducted by Schmidt & Hunter
Source: E&Y Australian Productivity Pulse Report, May 12
23% Super Achievers
46% Solid Contributors
31% Under Performers
‘I’ tools are accurate, but no common skill (competency) measurement framework
Hiring Managers don’t know the ‘E’
Actual Team member High-Performance
Competencies
A manager’s view of High-Performance Job
Competencies
Result = Perpetual ‘Subjective Hiring Error’
‘I’ and ‘E’ are being measured on different frameworks
A manager’s view of High-Performance Job Competencies
The ‘I’ - What am I good at?
Proprietary Competency Framework
EQTeamwork Resilience
DriveOrganisation
IQVerbal
NumericalProblem-solving
• A proprietary assessment and associated algorithms that map an Individual’s IQ and EQ onto the a proprietary Ability Competency Framework
The ‘E’ - What does high performance look like in the job today?
Proprietary Competency Framework
High Performer
Scores
Subject Mater Expert(s) View
• Subject matter experts complete an Assessment to identify and prioritise the competencies needed for high performance in a given role –
OR
• A group of High Performers are assess to produce a High Performance Benchmark for the Job in question.
‘What does high performance look like in the job today?’
High Performance ‘E’ Profile
Steven’s ‘I’ Score
Jessie’s ‘I’ Score
• Individuals & Jobs assessed on the same dimension
• The Individual’s score is compared to the Job’s High Performance suitability score
• Matching Engine produces an report detailing how well candidates meet the competencies required for high performance in the role
‘I’ ‘E’
Objective Match of the Best ‘I’ for the available ‘E’
Talent Management in Action
Talent Management Vision
Easy & engaging user experience
Open innovation & integration
Anywhere, anytime people
managementSimplified admin & analytics
“CBA fosters a customer-centric, highly engaged culture where employees are passionate and committed.”
─ Andrew CulletonExecutive General Manager, People Services
- PROFIT - LEVERAGING
TALENT INSIGHTS
- PEOPLE -TRANSFORMING
CULTURE
- PRODUCTIVITY -UNIFING TALENT MANAGEMENT
