Build, Buy or Rent? Leveraging Talent Analytics to Plan for Tomorrow’s Workforce

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Do you know the skills and types of workers you need for tomorrow? How do you decide if you should hire a contract worker, transition a baby boomer to part time or hire a new employee? Join Stacia Garr, senior analyst with Bersin & Associates, for her discussion of the tools organizations can use to more effectively identify talent needs, how organizations use that information to develop a strategy to fill talent gaps and the benefits and drawbacks of different talent sources necessary to execute that strategy.

After attending this session, listeners will understand the value of workforce analytics in mapping talent needs to organizational strategy and objectives and specific approaches to doing this effectively. You will know the risks and rewards of build, buy and lease talent strategies and have examples of how to do each effectively.

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Build, Buy or Rent? Leveraging Talent Analytics to Plan for Tomorrow’s Workforce

  1. 1. Build, Buy or Rent? Leveraging TalentAnalytics to Plan for Tomorrow’s Workforce You can listen to today’s webinar using your computer’s speakers or you may dial into the teleconference. If you would like to join the teleconference,please dial 1.408.600.3600 and enter access code: 922 166 584 #. You will be on hold until the seminar begins. #TMwebinar
  2. 2. Build, Buy or Rent? Leveraging TalentAnalytics to Plan for Tomorrow’s WorkforceSpeaker: Stacia Sherman Garr Senior Analyst, Talent Management Bersin & AssociatesModerator: Daniel Margolis Managing Editor Talent Management magazine #TMwebinar
  3. 3. Tools You Can Use• Q&A – Click on the Q&A icon on your floating toolbar in the bottom right corner. – Type in your question in the space at the bottom. – Click on “Send.” #TMwebinar
  4. 4. Tools You Can Use• Polling – Polling question will appear in the “Polling” panel. – Select your response and click on “Submit.” #TMwebinar
  5. 5. Frequently Asked Questions1. Will I receive a copy of the slides after the webinar? YES2. Will I receive a copy of the recording after the webinar? YES Please allow up to 2 business days to receive these materials. #TMwebinar
  6. 6. Build, Buy or Rent? Leveraging TalentAnalytics to Plan for Tomorrow’s Workforce Daniel Margolis Managing Editor Talent Management magazine #TMwebinar
  7. 7. Build, Buy or Rent? Leveraging Talent Analytics to Plan for Tomorrow’s Workforce Stacia Sherman Garr Senior Analyst, Talent Management Bersin & Associates #TMwebinar
  8. 8. Build, Buy or Lease?Leveraging Talent Analytics to Plan forTomorrow’s WorkforceStacia Sherman GarrSenior Analyst, Bersin & Associates Copyright © 2012 Bersin & Associates. All rights reserved.
  9. 9. About Us Who We Are • Bersin & Associates empowers HR and learning organizations to drive bottom line impact through world class research and consulting Practices Human Resources • Enterprise Learning • Human Resources • Leadership Development Leadership • Talent Acquisition Development • Talent Management - Career Management Learning & - Performance Management Development - Workforce Planning Services Talent • WhatWorks® Membership Acquisition • Research-based consulting services • IMPACT: The industry’s premiere Talent conference on the Business of Talent Management • Bersin Basics Copyright © 2012 Bersin & Associates. All rights reserved. Page 8
  10. 10. Serving the World’s Most Successful Organizations Copyright © 2012 Bersin & Associates. All rights reserved. Page 9
  11. 11. Agenda Why Workforce Analytics? Build, Buy or Lease? • The Pros and Cons of Each Strategy • Accessing Talent for Each Strategy • Case in Points Key Takeaways and Q&A Copyright © 2012 Bersin & Associates. All rights reserved. Page 10
  12. 12. Why Analytics?A Story of How Dow Chemical Adjusted to its Volatile Industry Copyright © 2012 Bersin & Associates. All rights reserved. Page 11
  13. 13. Key Talent Challenges Source: Q3 2012 TalentWatch survey, n = 291 Copyright © 2012 Bersin & Associates. All rights reserved. Page 12
  14. 14. Top Talent IssuesThe majority of critical issues are related to identifying talentneeds and filling them Source: Q3 2012 TalentWatch survey, n = 291 Copyright © 2012 Bersin & Associates. All rights reserved. Page 13
  15. 15. Poll: Which Talent Challenges are MostCritical To Your Organization? Filling critical skill gaps Identifying talent gaps Filling talent gaps quickly Planning for future talent needs Developing HR metrics Copyright © 2012 Bersin & Associates. All rights reserved. Page 14
  16. 16. Bersin & Associates’ Workforce PlanningMaturity Model® Level 4: Enterprise Workforce Planning Strategic Workforce Planning on a Companywide Level Level 3: Strategic Workforce Planning Alignment with Business Strategy, Workforce Segmentation Level 2: Workforce Analytics Workforce Skill Gap Analysis, “What-If” Scenarios Level 1: Headcount Planning Headcount Data Collection, Headcount Analysis, Static Data Reporting Copyright © 2012 Bersin & Associates. All rights reserved. Page 15
  17. 17. A Modern Approach to Workforce Planning Assess organizational Collect data Analyze data readiness Develop action Identify workforce plan Determine talent supply and gaps (Build, Buy or demand Lease) Evaluate the processSource: Bersin & Associates, “A Modern Approach to Workforce Planning,” 2009. Copyright © 2012 Bersin & Associates. All rights reserved. Page 16
  18. 18. Data Can Come From a Variety ofSources Data from integrated talent management systems and / or niche providers with associated business Enterprise Resource intelligence tools Data from Planning (ERP) proprietary and systems and third-party statistical associated business analyses packages / intelligence tools business forecasting tools Workforce Planning Analysis Copyright © 2012 Bersin & Associates. All rights reserved. Page 17
  19. 19. Example Data Sources Performance Management Talent Profiles Images courtesy of Taleo. Copyright © 2012 Bersin & Associates. All rights reserved. Page 18
  20. 20. Types of Analyses Images courtesy of Taleo. Copyright © 2012 Bersin & Associates. All rights reserved. Page 19
  21. 21. Avoid This! Cartoon Copyright of Dilbert, by Scott Adams. Copyright © 2012 Bersin & Associates. All rights reserved. Page 20
  22. 22. Create Insight and ActionableRecommendations  Identify critical business outcomes  Leverage statistics experts  Identify the factors that predict those better outcomes  Develop a clear, prioritized action plan Copyright © 2012 Bersin & Associates. All rights reserved. Page 21
  23. 23. Outputs of Analyses Current Forecasted Prioritized List ofTalent Supply Talent Demands Talent Needs& Its Relative Importance Copyright © 2012 Bersin & Associates. All rights reserved. Page 22
  24. 24. Case in Point: Large CommunicationsCompany Learns to Find “Waldo” Source: www.findwaldo.com website, 2012. Copyright © 2012 Bersin & Associates. All rights reserved. Page 23
  25. 25. Decisions, Decisions: Build, Buy orLease? Copyright © 2012 Bersin & Associates. All rights reserved. Page 24
  26. 26. Critical Skills Considerations for Build,Buy and Lease Build Buy Lease• Danger to the • Skills needed now • Skills for which business if these for today’s growth there is skills are not • Skills the uncertainty in present organization demand• Skills that cannot doesn’t know how • Skills for which be purchased to grow there is uncertain• Skills that are • Critical skills that budget cheaper to build recently left the • Skills new to the and no immediate organization organization (and urgency hard to hire for)• Skills needed • Skills required for down the road only limited projects Copyright © 2012 Bersin & Associates. All rights reserved. Page 25
  27. 27. Risks for Build, Buy and Lease Strategies Build • Lengthy ramp-up time • Change in priorities impacts funding • Ineffectiveness at teaching new skills • Insularism reduces fresh ideas and perspectives Buy • Too many new people change culture and perceived opportunities • Increased risk from new hire failure • Compensation budgets and morale affected by premiums paid to external talent Lease • Poor estimation of work results in higher costs • Project failure due to poor design • Try before buy fails Copyright © 2012 Bersin & Associates. All rights reserved. Page 26
  28. 28. Where Do You Find the Talent? Copyright © 2012 Bersin & Associates. All rights reserved. Page 27
  29. 29. Source #1: Current Employees Coaching Development Plans Career Management Learning Copyright © 2012 Bersin & Associates. All rights reserved. Page 28
  30. 30. Case in Point: Savannah River NuclearSolutions Evolving 50% of Using IDPs SRNS’s SRNS’s to Help Keep Purpose Employees Critical Toward Eligible to Knowledge Sustainable Retire Within Within SRNS Energy 5 Years Copyright © 2012 Bersin & Associates. All rights reserved. Page 29
  31. 31. Source #2: Outside the Organization  Ensure clarity on skills necessary to hire  Leverage employee referrals and other sources to find the right people  Analyze which sources yield the best candidates Copyright © 2012 Bersin & Associates. All rights reserved. Page 30
  32. 32. Case in Point: Cargill Gives Access tothe Magic • 6 reports accessible to business units and HR • Tracked active requisitions, recruitment activity, source effectiveness, time to fill, median days in process, and applicant pool demographics • HR provided reference guides to help business units Copyright © 2012 Bersin & Associates. All rights reserved. Page 31
  33. 33. Source #3: Alumni Already know your organization and fit with your culture Likely could step back into a role within your organization easily Continuing to serve as brand ambassadors Copyright © 2012 Bersin & Associates. All rights reserved. Page 32
  34. 34. Implementing an Alumni ProgramEstablish Purpose~ Establish purpose of Gather and Create Informationengaging alumni Engage and Expand~ Set goals ~ Consolidate emails~ Determine success ~ Create interesting static content ~ Invite members throughmetrics targeted communications ~ Develop platform for dynamic content ~ Ensure content remains sticky ~ Expand relationship through branding, recruiting and business development Copyright © 2012 Bersin & Associates. All rights reserved. Page 33
  35. 35. Case in Point: S&P Source: S&P alumni website, 2012. Copyright © 2012 Bersin & Associates. All rights reserved. Page 34
  36. 36. Source #4: Contingent Workers Trend toward looking at contingent workers like people – not pencils Leading companies see the capability to hire by ability as critical to their company’s agility and competitive stance. When deciding who you need consider: • Required timeframe • Skills Needed • Type of Worker Copyright © 2012 Bersin & Associates. All rights reserved. Page 35
  37. 37. Case in Point: Ryder Source: Ryder website, 2011. Copyright © 2012 Bersin & Associates. All rights reserved. Page 36
  38. 38. Key Takeaways Talent analytics has the potential to be an extremely powerful tool With talent analytics, don’t stop at insight – recommend action Develop a prioritized action plan Leverage a variety of talent sources • Current employees • Outside hires • Alumni • Contingent Workers Copyright © 2012 Bersin & Associates. All rights reserved. Page 37
  39. 39. Thank you, and please join us at Bersin IMPACT 2012 April 10-12, 2012 Copyright © 2012 Bersin & Associates. All rights reserved. Page 38
  40. 40. Questions? Stacia Garr Senior Analyst, Talent Management Questions or Follow Up: Stacia.garr@bersin.com http://blogs.bersin.com/stacia.garr www.linkedin.com/in/staciashermangarr Twitter: StaciaGarr Copyright © 2012 Bersin & Associates. All rights reserved. Page 39
  41. 41. Join Our Next TM WebinarHow to Improve Candidate Quality With Reference Checking Tuesday, April 17, 2012 • TM Webinars start at 2 p.m. Eastern / 11 a.m. Pacific Register for upcoming TM Webinars at www.talentmgt.com/events Join the Talent Management magazine Network http://network.talentmgt.com/ #TMwebinar

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