Talent Unleashed: Preparing Your HR Data House for the Next 10 Years - Newsletter by Towers Watson and Gartner
 

Talent Unleashed: Preparing Your HR Data House for the Next 10 Years - Newsletter by Towers Watson and Gartner

on

  • 2,188 views

What are the ways an organization meets its talent needs in the next 10 years? ...

What are the ways an organization meets its talent needs in the next 10 years?
How can your organization prepare your HR data house for the future?
Where should your HR organization begin — with technology or talent?

In this recently published newsletter from Towers Watson, featuring research from Gartner, we review the keys to successfully preparing your organization for talent competition in the next 10 years.

Finding, keeping, nurturing and engaging talent has emerged as a primary issue that organizations simply must master in order to succeed in the decade ahead. Over the past 10 years, talent management has made a critical shift from an art to a science. No longer something that some organizations are good at and some not, talent management has become a quantifiable, meaningful discipline that affects the bottom line.

But that is only part of the story. This newsletter also discusses how to make crucial talent (and talent management) decisions over the next 10 years.

Statistics

Views

Total Views
2,188
Views on SlideShare
1,834
Embed Views
354

Actions

Likes
0
Downloads
46
Comments
0

3 Embeds 354

http://www.scoop.it 346
https://twitter.com 4
http://www.linkedin.com 4

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Talent Unleashed: Preparing Your HR Data House for the Next 10 Years - Newsletter by Towers Watson and Gartner Talent Unleashed: Preparing Your HR Data House for the Next 10 Years - Newsletter by Towers Watson and Gartner Document Transcript

    • issue 2 Talent Unleashed: Preparing Your HR Data House for the Next 10 Years 2 3 Talent Unleashed: Preparing Your HR Data House for the Next 10 Years 7 About Towers Watson 8 Featuring research from Introduction Research From Gartner: Meeting the Information Needs of the Chief Talent Officer in 2023
    • Source: Towers Watson Introduction In its insightful report on Meeting the Information needs of the Chief Talent Officer in 2023 , Gartner suggests that talent will be the prime source of competitive differentiation and leadership in 2023. What will it take to get there? How will the CTO prepare the current workforce for this coming shift in required skills? Chad Daugherty Global Practice Leader, HR Technology, Towers Watson Finding, keeping, nurturing and engaging talent has emerged as a primary issue that organizations simply must master in order to succeed in the decade ahead. Over the past 10 years, talent management has made a critical shift from an art to a science. It is no longer something that some organizations are good at and some not so good, but a quantifiable, 2 l Talent Unleashed: Preparing Your HR Data House for the Next 10 Years meaningful discipline that affects the bottom line. There’s a catch, however. To succeed in making talent – and, importantly, Talent Unleashed: Preparing Your HR Data House for the Next 10 Years is published by Towers Watson. Editorial content supplied by Towers Watson is independent of Gartner analysis. All Gartner research is used with Gartner’s permission, and was originally published as part of Gartner’s syndicated research service available to all entitled Gartner clients. © 2014 Gartner, Inc. and/ or its affiliates. All rights reserved. The use of Gartner research in this publication does not indicate Gartner’s endorsement of Towers Watson’s products and/or strategies. Reproduction or distribution of this publication in any form without Gartner’s prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. The opinions expressed herein are subject to change without notice. Although Gartner research may include a discussion of related legal issues, Gartner does not provide legal advice or services and its research should not be construed or used as such. Gartner is a public company, and its shareholders may include firms and funds that have financial interests in entities covered in Gartner research. Gartner’s Board of Directors may include senior managers of these firms or funds. Gartner research is produced independently by its research organization without input or influence from these firms, funds or their managers. For further information on the independence and integrity of Gartner research, see “Guiding Principles on Independence and Objectivity” on its website, http://www.gartner.com/technology/about/ombudsman/ omb_guide2.jsp. talent management – a discipline, talent leaders must have access to meaningful analytics, reliable technology and forward-looking processes. In this newsletter, published featuring the Gartner report on Meeting the Information Needs of the Chief Talent Officer in 2023, we’ll explore how organizations can do exactly that. We’ll examine practices the Chief Talent Officer can deploy to optimize the approach to talent in the next decade, the technologies it will take to get there and how these factors are best woven into the organization’s broader talent strategy. Along the way, we’ll consider Towers Watson’s research-driven point of view on how the field of talent is rapidly evolving – and will continue to do so over the next 10 years. We appreciate the opportunity to feature Gartner research in this newsletter and hope you enjoy the insights it includes. Chad Daugherty Global Practice Leader, HR Technology, Towers Watson
    • Source: Towers Watson Talent Unleashed: Preparing Your HR Data House for the Next 10 Years “The metamorphosis of HR will be complete by 2023. The taking to master talent issues for the decade ahead. The vast Human Age, a phrase borrowed from Manpower, will take hold. majority of respondents are undertaking transformation initiatives Traditional operational and tactical activities will peel away, to rethink their global talent strategies, business models and surrendered to business process outsourcing (BPO) providers organizational approaches in response to rapid shifts in the and software as a service (SaaS) providers. In their place will marketplace. For example, 41% have recently completed such be a chief talent office that keeps a laser-sharp focus on the an initiative or are currently undergoing one, and another 47% enterprise capability to locate, attract, engage and refresh are preparing to do so. Our research concluded that as firms talented people and qualified experts.”— Meeting the Information contend with the transformation of their businesses and the “re- Needs of the Chief Talent Officer in 2023, © 2012 Gartner, Inc. skilling” of their workforces, they must also prepare for long-term, permanent structural shifts in demand for labor. Indeed, a new Recently, Towers Watson, in collaboration with Oxford Economics, geography of talent will come to define workplace recruitment. studied the approaches that more than 350 HR leaders are figure 1. Transformation is pervasive across industries Talent Unleashed: Preparing Your HR Data House for the Next 10 Years l 3 Source: Global Talent 2021 Survey, by Oxford Economics, Towers Watson, et al
    • The coming generation of employees, those now entering But to succeed in this mandate, the CTO needs access to university, for example, will see a far different workplace than real-time, meaningful information on which to base decisions the one we experience today and will have an attitude toward and actions. And that’s most effectively and efficiently delivered work that’s unique. Are our organizations prepared for these through integrated technology and analytics. HR systems and differences? How will managing this generation of talent vary from data quality improve daily, with quantum leaps occurring on a managing previous ones? regular basis. And organizations are taking advantage of these improvements. To prepare for the future, HR must be equipped with the right analytics and data so it can play a critical role for the organization: HR Service Delivery and Technology Survey forecasting and preparing for the organization’s talent needs five, For the past 18 years, Towers Watson has conducted an annual 10 and even 15 years ahead. By leveraging HR technology and global survey on HR service delivery, technology trends, tools workforce data, leaders will better understand where their talent and priorities. Our 2013 study was the most substantial and will come from, what critical skills it will need to have and how to insightful study to date: We explored HR service delivery plans, best deploy that talent. goals and progress at more than 1,000 organizations around Enter the Chief Talent Officer the world. In doing so, we developed new perspectives on how organizations are achieving HR service delivery success, gathered new data on how to support HR and business in helping organizations understand and prepare for this new objectives, and learned anew what global organizations have world of work. In fact, in the last decade, we’ve seen successful done or plan to do in the year ahead. In 2013, our annual survey organizations shift their HR function from that of a service identified continued investment in HR technology solutions as a provider to that of a strategic leader charged with shaping the key theme. Respondents said they are investing in technologies organization’s approach to finding and developing the talent that that provide the greatest near-term innovations and advances in will foster growth and sustain the organization’s future. Many have 4 l Talent Unleashed: Preparing Your HR Data House for the Next 10 Years The Chief Talent Officer (CTO) will play a critical leadership role service delivery as well as exploring the newer technologies on gone a step further, hiring a CTO to lead that effort. today’s horizon. Why is this important now? How will the CTO prepare the current Most important to the CTO are the technologies leveraged workforce for this coming shift in required skills? Structural most commonly by HR practitioners, including SaaS or cloud changes in the marketplace, shifting global demographics and technologies, mobile applications and portals. All three of these the evolving needs of businesses themselves are all reshaping solutions will continue to help HR efficiently complete both simple both the supply and demand for talent in many organizations. and complex transactions. For example, technology improves Employers need new skills from the workforce but can find it the way HR operates and makes decisions through access to challenging to find the right people with the proper skills to fill data and the security protecting that data. As technology evolves their vacancies. Our earlier-referenced research with Oxford and improves, we’re seeing a dramatic shift in the ways that Economics identified for some regions the need to undertake a organizations leverage it within their HR function – what they critical re-skilling of labor to meet the new demands of a highly ask technology to do and how they use the results to improve digitized and interconnected world, where broader skill sets will be both their service delivery and their approach to talent in the required. The CTO will need to lead that charge. organization. Especially productive are self-service applications, which mean that everyone in an organization benefits from new To compete most effectively in this new world of business change, HR technology developments and innovations – a real boon for HR professionals face a daunting task in not only rethinking how the talent office. they manage talent but also ensuring that this work is aligned with the strategic goals of the business.
    • More than 75% of respondents plan to spend about the same or more of what they have previously spent on technology investments. The continued increase in spending is a consistent trend we continue to see with each survey. figure 2. HR Technology Spending Versus Prior Years 54% 52% 53% 53% 43% 25% 22% 18% 11% 10% 10% 10% 7% 4% 6% 7% 6% Much lower (more than a 20% reduction in 2013) Lower (less than a 20% reduction in 2013) 2009 (n = 331) 2010 (n = 453) About the same 2011 (n = 437) Where to Begin? In order to prepare for 2023, it’s important to understand your current state of data and what you may need to do to get your HR data house in order. We’ve outlined key steps below to prepare for the next 10 years and beyond. Treat this as a road map for the global transformation of talent and technology over the next Higher (up to a 20% increase in 2013) 2012 (n = 599) 12% 10% 8% Much higher (more than a 20% increase in 2013) 2013 (n = 994) Talent Unleashed: Preparing Your HR Data House for the Next 10 Years l 5 Source: Towers Watson 2013 HR Service Delivery and Technology Survey decade. 19% 15% 13% 11% 21%
    • First and foremost, it’s crucial to understand the technology and resources you already have in place and what type of data you should become familiar with. • Create a talent strategy: Translate the requirements of your business model into specific implications and requirements for various talent pools (e.g., current leaders, future leaders, pivotal roles and proficiency roles); in other words, a segmented talent strategy. • Assess your talent: Develop talent profiles for each of these pools, beyond the core, indicative data, to better understand your employees’ fit (e.g., background, skills and interests). • Build better benchmarks: Find a way to gather meaningful data in real time. Towers Watson’s Human Capital Metrics solution, for example, can help you evaluate the current state of your workforce (e.g., demographics, education, skill sets and physical location) against industry normative data and build benchmarks for the future of your talent. This online portal puts quick, digestible and reviewable data at your fingertips to make talent decisions efficient. • Level-set careers and jobs: Ensure you understand the relative value of roles within the organization today and the value of these same roles in the future. • Focus on career management: Help managers and employees align employee development and movement with future talent needs. Increase the focus on result-based learning to help employees grow in to the future needs of the organization. For example, do you need to teach employees Spanish to prepare for growth in Latin America? 6 l Talent Unleashed: Preparing Your HR Data House for the Next 10 Years • Define the give and the get: What is your employee value proposition (EVP) for the various talent pools? Are you currently fulfilling the contract you have made with your employees? Will your EVP change as your talent needs change? How? • Enable with technology: Identify your organization’s HR data and service needs, and search for technology that can deliver. Understand the current distribution of talent, skills and competencies within your organization to identify current and future gaps. • Engage employees differentially: As you develop and implement your talent transformation plans, make sure your current talent remains engaged. Do they understand your talent goals? As you prepare for future talent, begin to gain an understanding of their needs. Will they value the same benefits, culture and working conditions that your current employees do? What changes may be necessary to attract, retain and engage them? • What about analytics? Today, leaders are demanding and depending on detailed and verified data to better understand their talent profile and landscape. They want access to data 24 hours a day (and available on mobile devices), presented in a digestible format. And they want to be able to easily use these data to better understand their current workforce, anticipate future staffing needs and execute on their talent imperative. HR must be able to provide analytics – and not just data – to the business on a frequent basis. • Communicate your progress: Well-planned and executed communication and change management programs are essential to any HR transformation or technology program. A recent Towers Watson study of communication and change effectiveness reveals that only about half (55%) of organizational change efforts meet their initial objectives, and only one in four organizations sustain those changes over the long term. Do you have a communication and change management plan that helps employees understand and adapt to the organization’s workforce goals? How will you allay any fears and respond to concerns? What role will managers play in helping in the communication and change management process?
    • Looking Ahead – 2023 HR technology – and the data it makes available – has facilitated workforce planning beyond anything imaginable even a decade ago. And as technology improves, the potential to collect and mine data will only grow. But for HR to be successful in helping the organization understand and plan for future needs, it must take a strategic leadership role. Organizations that have established a talent office led by a CTO who can effectively translate data into analytics and communicate the implications to leadership will likely be the victors in the competition for the talent they will need. About Towers Watson Towers Watson is a leading global professional services company people, risk and financial management. With more than 14,000 associates around the world, we offer consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management. For more information, visit towerswatson.com. Talent Unleashed: Preparing Your HR Data House for the Next 10 Years l 7 that helps organizations improve performance through effective
    • Source: Research From Gartner, G00239068, Diane Morello, Thomas Otter, 12 November 2012 Meeting the Information Needs of the Chief Talent Officer in 2023 Competitive businesses will pivot on finding talent and expertise whenever and wherever they need. To get there, chief talent officers will have to master information about global expertise, institutionalize numeracy and analytics, and quantify the value of talent. Impacts 8 l Talent Unleashed: Preparing Your HR Data House for the Next 10 Years • By 2023, the quest for growth in developing and emerging markets will be met by “information ecosystems” that dynamically track global talent, expertise, qualifications and demographics. • With service sectors dominating world GDP by 2023, competitive advantage will move toward people, creating a platform for talent science experts to apply advanced workforce analytics to outperform others. • By 2023, the growing appetite for transparency of business information will require chief talent officers to report publicly on the value of talent to investors and boards. Recommendations • Build information pipelines about global work, labor, credentials, demographics and skills outside and inside the enterprise or project. • Gain fluency in analytic tools, social network analysis and information aggregation tools that reflect global ecosystems of expertise. • Master statistical know-how. Evidence-based decisions will be fueled by numerical fluency (i.e., numeracy) and analytics, not by instinct and anecdotes. • Work with finance leaders and industry consortia to develop a common language and a common set of data to describe and plan for human capital reporting measures. • Connect talent and expertise to business outcomes and scenarios, making explicit the risk and impact of abundance or scarcity of crucial know-how. Analysis HR Director Recedes, Chief Talent Officer Emerges The metamorphosis of HR will be complete by 2023. The Human Age, a phrase borrowed from Manpower, will take hold. Traditional operational and tactical activities will peel away, surrendered to business process outsourcing (BPO) providers and software as a service (SaaS) providers. In their place will be a chief talent office that keeps a laser-sharp focus on the enterprise capability to locate, attract, engage and refresh talented people and qualified experts. The perennial ambitions of chief executives – growth, new markets, competitive advantage and business transformation – will make talent the prime source of competitive differentiation and leadership in 2023. Chief talent executives will eye macro trends, such as global population, energy constraints and human mobility, and will develop scenarios around the hot spots in jobs, work and markets (see Note 1). Moreover, the economics of talent and the supply-demand equation underpinning those economics – concepts described as “talentomics” by Lance Jensen Richards – together will propel businesses toward competitive advantage. Chief talent officers will use an array of information, competencies and tools to orchestrate the acquisition of talent and expertise across boundaries, borders and communities. They will capitalize on information that affords insight into regional expertise, competencies, guild-equivalents, education levels and balance of high skills and low skills. They will aggressively use social and extended networks to locate ingenious people – some of whom will be enhanced cognitively and physically – to satisfy challenging problems, with many of those people located outside traditional
    • employment arrangements. Steadily, talent officers will create a comprehensive picture of all people and all expertise feeding their business strategies, not just employees, and they will lean heavily on tools and analytics that will add rigor and predictability to their pursuit of expertise and their development of talented people. Talent – what it means, what it represents, who possesses it, where it is found – will be quantified, classified and stratified based on the capacity to generate future value and on crucial expertise. Information, tools and skills all will vary (see Figure 1). • By 2023, leading-edge talent leaders will make people their competitive advantage, and they will do so in large part by scouring the world’s economic clusters and communities of expertise for information about people who can contribute ideas, knowledge, experience and time to a dynamic portfolio of problems, projects, initiatives and work assignments. They will use tools to locate people information across systems, communities and ecosystems, assembling the information into meaningful profiles that comply with privacy regulations. • By 2023. talent leaders will require a rich dataset about employees, external experts, contractors and broader labor market patterns. Rather than use only structured data found in business systems, they will derive and infer data about employees and experts from internal and external sources. For instance, instead of searching a skills database for someone who has “strong sales closing skills,” talent executives will derive the information they need from closing rates in the CRM tool. • By 2023, a robust grip on numbers and statistics will be crucial for talent leaders, who will need to be as adept at digesting numbers as finance and marketing executives. Talent science, the business capability of using detailed data analysis to drive human capital management (HCM) decision making, will create a logical connection between decisions about people and strategic business outcomes, and it will represent a key skill set for talent executives and other business leaders in the 2020s. Impacts By 2023, the quest for growth in developing and emerging markets will be met by talent-oriented "information ecosystems." Competitive advantage will move toward people, producing by 2023 talent science experts who use people data to outperform other businesses. By 2023, the appetite for transparency of business information will require chief talent experts to report publicly on the value of talent. Source: Gartner (November 2012) Top Recommendations • Build information pipelines inside and outside the enterprise for global work, labor, credentials and skills. • Gain fluency in the information and analytics required to navigate global expertise ecosystems. • Master statistical know-how to fuel evidence-based business decisions. • Launch data-quality programs to ensure that analysis is based on good workforce data. • Work with finance leaders to plan for human capital reporting measures. • Connect talent and expertise to business outcomes and scenarios. Talent Unleashed: Preparing Your HR Data House for the Next 10 Years l 9 figure 1. Impacts and Top Recommendations for the 2023 Information Needs of Chief Talent Officers
    • Impacts and Recommendations By 2023, the quest for growth in developing and emerging markets will be met by “information ecosystems” that dynamically track global talent, expertise and qualifications The quest for talent will be global by 2023. Human mobility, technology ubiquity, the relocation of capital and worldwide population nearing 8 billion people – nearly all of that population growth occurring in emerging and developing markets – will spur business growth in emerging and developing areas of the world and seal the future of talent acquisition experts (see Note 2). 10 l Talent Unleashed: Preparing Your HR Data House for the Next 10 Years Expertise orchestrators will investigate, locate, link and connect people through vast expertise networks. Work will move toward global teams, with modular components and handoff points that suit both project-based work and continuous services. Talent executives will locate and pursue people who possess alternate qualifications, not just traditional degrees: Candidates will get their education through nonaccredited programs and through global online training from established and new universities. Moreover, many talent executives will pursue people who have attained high status in community-based leader board rating systems. People, work and ideas will flow steadily across borders to take advantage of R&D, innovation and employment. Younger professionals, many in their 20s and 30s, will find expanding opportunities among companies headquartered in advancing markets and recruiting from developed countries. Students, too, will move around. The UNESCO Institute for Statistics suggests that about 8 million students will study outside their home countries by 2020, compared with 3.4 million in 2009, and growth will continue. International exposure, cross-border assignments and geographically distributed projects will become crucial rungs in development and employment. Recommendations • Build information pipelines about global expertise ecosystems along key threads: • Regional centers of gravity for expertise, economic clusters and startups • Alternative qualifications beyond traditional degrees • New sources of expertise and talent outside traditional employment models • Growth and decline of skill sets and qualification levels globally • Demographic and population growth and decline • Gain fluency in networks of expertise: • Social and community tools that unlock peer-to-peer ecosystems of experts, guilds, communities and SWAT teams • Workforce analytic tools to craft what-if scenarios about demand, supply and risk in wider and wider circles, from internal expertise to global economic clusters • Global talent “information as a service” from software vendors and BPO providers With service sectors dominating world GDP by 2023, competitive advantage will move toward people, creating a platform for talent science experts to apply advanced workforce analytics to outperform others Senior executives have been frustrated by the inability to put a value on their investments in human capital. According to research, just 25% of organizations measure the return on investment of human capital programs, and more than 75% measure effectiveness based on employee satisfaction. The tension can be summed up in two points: Senior executives need evidence to assess the value of human capital and investments therein. Chief talent officers need data, not anecdotes, to prove the value of those investments. The relationship between businesses and the people they employ will be the last frontier for analytics. Enter talent science, possibly the most sought after skill in senior management. Simply put, talent science is a business capability that uses detailed data analysis to drive decisions in human capital management (HCM). It calls for and it creates a logical connection between strategic business outcomes and decisions about people. It is not about the tools and technologies used to run analytical processes. Rather, talent science reflects a mindset and a strategic commitment to position data as the cornerstone for decision making. The adoption of talent science as a strategic business capability will be slow, predicated on the talent profession grasping the power of data-driven decision making and shifting away from its traditional gut-feel approach. Talent executives who
    • understand the strengths and weakness of people both inside and outside the organization in a rational way will have a greater impact on what differentiates their business than arguably any other management function, and talent executives who develop robust analytics and measurement models will dramatically outperform those who do not. Notably, the analytics component of talent science cannot be undervalued: Talent executives will use analytics to figure out the sweet spot for interviews, the best mix of personalities for teams and the psychographic profile of the top performers. Recommendations • Master statistical know-how. Evidence-based decisions are fueled by numerical fluency (i.e., numeracy) and analytics, not by HR instinct and anecdotes. • Launch programs to ensure that scenarios and analytics are based on quality data, and create accurate inventories of skills, competencies and externally sourced expertise. • Focus “what if” scenarios on key job families that shape competitive advantage or mission achievement. Shortages of qualified talent for those jobs will be pain points that will get business attention and thus will garner business support. By 2023, the growing appetite for transparency of business information will require chief talent officers to report publicly on the value of talent to investors and boards As agriculture and industrial industries give way to service and information industries, the shareholder value of enterprises will be undeniably wrapped up in the value of people and in the ROI of the intellectual capital and expertise they represent. PwC surveyed CEOs around the world in 2012, asking about the quality of the talent information they receive. While four out of 10 CEOs reported that they get comprehensive information on labor, only one in 10 received comprehensive information about return on investment in human capital. The weighting will switch around, and the balance will lean away from people as input into cost and toward the value of the contribution of talented people (e.g., revenue and profit growth). Venture capitalists will routinely mine future LinkedIns to understand Gartner’s research reveals that “outbound” transparency – material facts of an enterprise made available in a timely, and preferably reusable, manner – has clear benefits. It engages stakeholders, helps people make sound decisions quickly, and helps businesses respond to crises by defining the issues and educating stakeholders. Chief talent officers should think about stakeholders as employees, talented experts, candidates and loosely federated contributors who apply their ideas, energy and commitment to the business. Attempts to establish comprehensive human capital measures have met little success in the past (see Note 3), but the pressure to provide people-related insight, information and demonstrable contribution for investors and executives will climb through 2023. Investors will demand transparent and standardized data on a variety of human capital measures, including the value of crucial knowledge and skills, key position bench-strength and return on training, and development spending. Just as organizations seek to comply with sustainability reporting demands, within 10 years, governments and investors will expect a clear and data-driven view of an organization’s workforce. Talent executives and finance leaders will together develop a common language and a common dataset to describe and report on people, and the messiness and degree of difficulty will test the mettle of even the most competitive executives. Recommendations • Work with finance leaders to plan for human capital reporting measures. As with sustainability, those ahead of the curve will gain a competitive edge. • Connect the abundance or scarcity of talent and expertise to business outcomes and scenarios, making the risk and impact explicit. • Examine the nascent models for human capital reporting, and test them out on your organization. • Capture the comparative performance value of individuals and teams, looking for multipliers that can increase investor value and justify higher compensation when required. Talent Unleashed: Preparing Your HR Data House for the Next 10 Years l 11 • Adopt consistent definitions for workforce terms. Mismatched definitions of a seemingly simple word (e.g., “employee”) can quash the credibility of findings based on analytics processes and can dilute the power of external benchmarks. the flow of key players and R&D leaders between companies, and sales leaders who can detect the movement of experienced salespeople between companies will be able to adjust behaviors in time to increase the next quarter’s revenue.
    • • Segment knowledge, competencies and expertise using various classification schemes (for example, innovation, execution and efficiency, or transform, grow and run). Segmentation connects people to outcomes, value and focus of business priorities. Evidence • Gartner 2012 CEO survey • PwC CEO survey 2012 • IBM CHRO survey 2010 Note 1 Job Assertions for 2023 Gartner’s analysis of jobs in the next decade explored the intersection of macro trends, economic patterns, industry sectors, society and technology and led to seven core assertions around the sweet spots of jobs in the 2020s. The assertions, first appearing in “Maverick* Research: Jobs 2021,” will hold true into the next decade and beyond. 12 l Talent Unleashed: Preparing Your HR Data House for the Next 10 Years • Population growth and longevity will spur innovation in healthcare and medicine. Note 2 A Plausible Scenario for Talent Executives in 2023 It’s September 2023. You are launching a meeting with your farflung team, all of you talent orchestrators. You locate expertise globally, reach out to individuals or clusters of experts, and harness people’s collective brainpower. From your high-rise home office in Boston, you look upon multiple holographic screens as your team members in Sao Paulo, Singapore, Dubai, Cape Town and Shanghai join the call, some using avatars and language translation software. The assignment is to find and assemble a SWAT team of independent scientists, mechanical engineers, software designers and marine science experts. You have used some experts before, some experts will vouch for others you do not know, others experts will surface through bots, and still others will surface through leader boards. You have 24 hours to find experts who can quickly brainstorm scenarios to “unstick” a wind turbine-farm project being built in the South China Sea. The project’s success – and in no small way, your team’s success – depends on locating and assembling a team of multidisciplined experts with records of success. They must develop scenarios quickly, communicate through open forums and negotiate with virtual peers to determine which scenario will be feasible. You are the talent experts: If you fail to find and orchestrate the experts in time for them to develop the scenarios, the project will lose its crucial window of action and your reputation as talent orchestrators will be blown. • The quest for alternative sources of energy and water will occupy nations for decades. • Digitally intense businesses will dominate the quest for talent. Note 3 Getting Closer to Measuring the Impact of People • Advantage will go to businesses that operate and adapt at the speed of information. Credible and logical ways to connect people to financial performance are few, but some efforts seem to close the gap between wishful thinking and measures. In 2009, about 150 German corporations and researchers developed a set of indices that showed that more than 40% of a company’s financial success can be directly tied to the successful management of human capital. Regrettably, countervailing lobbying activities derailed the plan to turn those measures into formal reporting requirements. More than a decade ago, the U.K. came close to implementing significant reform to financial reporting, the Operating and Financial Review. This went further than other reporting regulations in stipulating the disclosure of information outside the traditional financially oriented content of annual reports, such as information about the company’s policies for environmental matters, employees and social issues. It also required the use of non-financial key performance indicators (KPIs). However, it was scrapped prior to its introduction in 2005. • Crisis, regulation and security will be employment annuities. • Talented people, many young, will seek opportunities in emerging markets. • Contextual layering will be the watchwords of professional development.