How to Make Your Metrics Matter
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How to Make Your Metrics Matter

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Join us for this webcast with human capital thought leader Cathy Missildine to learn how you can put talent management metrics in a context that can help drive greater business decision-making and ...

Join us for this webcast with human capital thought leader Cathy Missildine to learn how you can put talent management metrics in a context that can help drive greater business decision-making and organizational success.

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How to Make Your Metrics Matter How to Make Your Metrics Matter Presentation Transcript

  • 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 1.650.479.3208 and enter access code: 929 666 952 #. You will be on hold until the seminar begins. #TMwebinar
  • Speakers: Wendy Lowe Segment Marketing Manager Halogen Software Cathy Missildine, SPHR Co-Founder, Chief Performance Officer Intellectual Capital Consulting Moderator: Kellye Whitney Associate Editorial Director Talent Management Magazine #TMwebinar
  • • Q&A – Click on the Q&A icon on your floating toolbar on the top of your screen. – Type in your question in the space at the bottom. – Click on “Send.” #TMwebinar View slide
  •  Polling  Polling question will appear in the “Polling” panel.  Select your response and click on “Submit.” #TMwebinar View slide
  • 1. Will I receive a copy of the slides after the webinar? YES 2. Will I receive a copy of the webinar recording? YES Please allow up to 2 business days to receive these materials. #TMwebinar
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Talent Management: How to Make Your Metrics Matter Cathy Missildine, SPHR Co-Founder, Chief Performance Officer Intellectual Capital Consulting Wendy Lowe, Certified Human Capital Strategist Segment Marketing Manager Halogen Software Presenters:
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Agenda • Discuss the framework that determines which talent management metrics should be included in your overall human capital measurement • Which metrics are most important to your C-Suite and can be tied to your business objectives • Importance of company wide buy-in so that the data and process is relevant and meaningful
  • ICC Copyright 2011. All rights reserved. 8  8/23/2013 Facilitators Processes Products Technology Financial Others Revenue Profitability Market Share Budget Cost Savings Others Business ResultsEnablers Vision and Mission The path to desired business results
  • ICC Copyright 2011. All rights reserved. 9  8/23/2013 Business strategy map: example Business Results Performance Objectives Performance Metrics Performance Outcomes Actions Increase sales from new customers by 20% Reduce prices of top 3 products by 4% Increase new sales from web store by 15% Increase new sales from sales force by 15% Increase new sales from call center by 10% Strategic Goals Increase Market Share Improve new customer satis. ratings from call center interactions by 30% Increase call center engage- ment from 73.4% to 80% Increase hit ratio from 10% to 20% Reduce call center turnover by 20% Improve call center sales skills Improve call center product knowledge Improve call center productivity Increase number of appointments Increase percentage of closings Create new call center sales training course Upgrade CRM system Hire four phone appointment setters Implement rewards & recognition program in call ctr
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Question to consider Think about what are you currently measuring in regards to talent management… • Are the metrics linked to business outcomes? • Do you have metrics that measure both efficiency and effectiveness?
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Performance is done by PEOPLE
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. 4 critical high performing metrics focus areas • Goal alignment • Employee performance • Quality of hire • Succession planning These 4 areas are critical to strategic execution and impact to bottom line…
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. An average organization snapshot: 7% decrease in productivity • Talent loss • Under-managed recruiting pipelines 25% of HiPerfs at risk of leaving • Combination of overstretched and under rewarded • Compared to only 10% of non-HiPerfs 46% delta in employee commitment • Between those who have clearly defined job goals/objectives and those who don’t And the above must be addressed with:  No budget  Increased demand from Board and C-Suite  Greater reliance on key talent in order to reach goals Darren Shearer via Source: Confronting Six Enemies of Post Recession Performance Corporate Executive Board Webinar
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Goal alignment • Single most cited reason for failure of strategy: execution • Goals must be cascaded up and down so that all employees understand expectations
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Goal alignment: are we all pulling in the same direction? Culture and goal setting • Strong culture creates a common mindset • Goal setting ensures that the specifics are laid out • Clear set of competencies ensures that you have the skill set to reach your goals
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Goal alignment - metric examples • % of employees tracking goals • % of goals obtained • % of sales quota exceeded • % of bonuses paid on goal attainment • % of goals exceeded
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Goal alignment in Halogen Software: Uses the best-practice organization-centric model to align employee goals to the overall organizational strategy. Individual employee goals are linked to organizational goals directly from the performance appraisal.
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Goal status report See how employee performance is tied to corporate success.
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Goals report – high risk goals Goal alignment metrics give your managers the ability to intervene when things go off track…
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Goals report – at risk goals …or to right the ship before it goes off course.
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Employee performance • Being a high performing organization doesn't mean that all employees are high performing • Make sure managers are trained-bias • Give high performers the recognition they deserve • Make sure system is utilized and the data is relied upon
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Employee performance metrics examples • High performer average engagement score vs. all others • High performer growth rate • Employee performance rate increase • High to low performer ratio • Performance appraisal participation rate • Critical competency scores • Sustained high performer rate
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Employee performance: nurturing organizational competencies See year over year progress on key competencies. Are we closing gaps? Where do we need to improve?
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Employee performance metrics Determine departmental, team or individual strengths and weaknesses on all or specific competencies. Identify high performers Identify low performers
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Quality of hire • A relatively new measure used to assess quality of recruits • Presently we use measures that relate to efficiency (speed and cost) of the process not quality • By profiling current HiPos, organizations can become more predictive in hiring thus saving on the front end and adding to bottom line
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Quality of hire metrics example • Voluntary turnover rate, HiPos, non-HiPos • Retention rate, HiPos, non-HiPos • New hire failure rate • ROI of Human Capital Investment • Time to fill • Cost per hire • Promotion rate • Employee engagement rate, HiPos, non-HiPos • Average new hire performance rating • Time to productivity new hire
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Succession/workforce planning • Uncover how your key talent performs on key business drivers (performance goals, competencies, skills, attitudes, personality) • Metrics should focus on: • Talent pool effectiveness on the key drivers • Overall talent bench strength—based on performance on the key business drivers • Time-to-fill on key leadership roles • % of internal hires for leadership roles • % of key roles with ready now replacements
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Talent inventory: evaluate retention risks, potential for promotion Retention RiskPotential for Promotion Talent Pool Score
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Succession planning: identifying Hi-Pos 3. Add to talent pool 1. Identify high potentials 2. Filter on retention risk
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Infrastructure necessary for delivering on the metrics that matter Three components necessary for success: ① An executive and organizational mindset that supports talent’s role in business strategy execution. ② Talent processes and tools are designed and mapped to enable the business to effectively manage talent effectively. ③ Talent systems or software that support the talent processes and tools.
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Metrics need data The best talent management systems in the world won’t help you make informed decisions if the tools aren’t used!
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Making metrics matter • The best laid plans will fail if not executed properly. • You’ve aggregated your data/automated your processes – now what? • Executives need to know their organizational strengths and weaknesses. • Manager and employees are accountable for performance. • They need to answer the question “Do we have the right people with the right skills doing the right things for meeting today’s and tomorrow’s business strategy?”
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Data…insight…ACTION! • KISS-reporting, Killer slide • Tie manager performance to metrics  • Brainstorm ways to improve and sustain results • Make action plans part of performance process • Progress is tracked and communicated loudly in the organization • Management meetings have dedicated time to metrics and progress • HR acts as coach, consultant and change agent
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Contact us at Intellectual Capital Consulting Cathy Missildine (770)843-8284 @cathymissildine intellectualcapitalconsulting.blogspot intellectual-capital.net cathymissildine@intellectual-capital.net
  • © 2013 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission. Q&A • Visit our Center of Excellence on HR Metrics Includes articles, webinars, white papers, case studies and a free talent management strategy template http://www.halogensoftware.com/resources/centers-of-excellence/HR-metrics.php • For additional Halogen Software inquiries or to request a personalized demonstration, contact: Wendy Lowe – wlowe@halogensoftware.com
  • Join Our Next Webinar “Why the Future of Learning Is Blended” Tuesday, August 27, 2013 Webinars start at 2 p.m. Eastern / 11 a.m. Pacific Register for upcoming TM Webinars at www.talentmgt.com/webinars Join the Talent Management magazine Network http://network.talentmgt.com/ #TMwebinar