3 perspectives on performance that every talent leader should know


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In this presentation we summarize the study we're working on to understand the actionable insights required by talent leaders in the noughties - and the feedback we've captured so far. This is work-in-progress so sorry about the format ;-) ...but the content is rich!

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3 perspectives on performance that every talent leader should know

  1. 1. Our talent, your results www.workspend.com 3 Perspectives on Enterprise Talent Capability That Every Talent Leader Should Know Actionable Insights for Talent Leaders
  2. 2. www.workspend.com Preface Workspend (www.workspend.com) is conducting a study of Talent Leaders to better understand their requirements for ‘actionable Insights’. In this presentation • Background to this research • what we believe are the 3 perspectives that every talent leader should know based on our discussions with talent leaders so far Important note: At this stage in our study there is insufficient data to build a factual conclusion. This is our work in progress. 2
  3. 3. www.workspend.com Challenges Facing Talent Leaders • To meet the current, known aspirations of the management team against its stated strategy and plan • Realize the potential of talent - wherever it comes from • Harvest and bring on new talent - and sources of talent • Educate senior colleagues on the unmet potential that is the reward of investing in talent and seeing it as a strategic lever for growth and prosperity 3
  4. 4. www.workspend.com The Back-Story • The talent discipline has emerged from an administrative back-drop • Most reporting systems today measure ‘widgets’ of activity or key points of a process pipeline such as: – the number of current and net change in vacancies unmet – the averaged time taken to fill vacant positions. • While these measures can reveal comparative performance of vendors/sourcing engines (etc.) they do little to harvest details of ‘soft- measures’ so important to talent leaders – such as ‘Are candidates happy to be working for us – and if not, why not?’ • Neither do traditional measurs expose a deeper appreciation of the VALUE of the talent sourcing capability to serve the short, medium and long-term needs of the business. 4
  5. 5. www.ustechsolutions.com The Four Main Types of Insights 5
  6. 6. www.workspend.com 1. Daily Operating Reports (operational insights) • Inform managers of progress against targeted outcomes • Many Vendor Management Systems (VMS) and Managed Service Provider (MSP) services deliver this information as a bi-product of their function • About keeping the core processes working to their optimal level and being aware as and when under-performance exists - notifying managers and giving them time to do something about it! 6
  7. 7. www.workspend.com 2. Performance Scorecards (strategic insights) • Measure the onward performance of the talent management function against strategic objectives. • Present results of activities against key performance indicators to measure progress against strategic ambitions of the enterprise. • Advanced systems include ‘lead indicator measures’ of performance – suggesting whether the strategy is on-track – as well as ‘lag measures that measure the rear-view mirror of ‘what HAS happened’ report when it’s actually too late for managers to act. 7
  8. 8. www.workspend.com 3. Predictive Analytics and Community • Predict what might happen - when performance may be impacted by scarcity of resources, external market factors etc. – If organizations have a succession plan and have a clear picture of when managers are likely to leave or retire, they could predict talent requirements based on current levels of operational needs into the future. • Should managers have any indication of the kind of growth or shrinkage they can expect moving forward, together with an appreciation of the types of roles needed when their business adapts to market needs (perhaps more sales people, or more market researchers etc.), they can plan for requirements well in advance of the needs being exposed through internal budgetary requests. 8
  9. 9. www.workspend.com 4. Actionable Insights • Actionable insights prompt managers to take action and intervene in the way processes work to ‘get the job done better’. • Typically sourced from insightful measures that not only qualify how well business units are performing but also help managers to answer ‘so what?’ questions and create new questions that emerge through analysis of the insights. • Only recently have the technology tools become available to make actionable insights accessible to the people that need them most: leaders that exist at all levels of the enterprise, not least the talent leader. 9
  10. 10. www.ustechsolutions.com Getting Back in Touch With Our Emotions 10
  11. 11. www.workspend.com Getting Back in Touch With Our Emotions • Business is not solely about measurement and facts; it’s also about emotions and relationships. • When people purchase products and services they may conduct a logical review of their buying options but the last 9-yards is an emotional response (i.e. ‘Does it make me feel happy buying this product?’ or ‘Will it make my partner love me all the more?’ etc.). • Focusing too much on slide-rule measurement of process efficiency leads to inwardly focused enterprises whose managers lose touch with their customers and staff; defaulting instead to a ‘scorecard’ as the answer to every question. • Talent leaders looks across the enterprise AS A WHOLE rather than a specific business function. They can promote the rewards of investing in better appreciating the business rewards of soft-skills – the economic power and influence of emotions and relationships. 11
  12. 12. www.workspend.com • A big part of the reasons why actionable insights are so important to business, particularly in the HR field, is that all too often the ‘X Factor’ that differentiates exceptional from good - the aspects of performance that really matter to the success of an enterprise – normally happen on the fringe of operational activity (i.e. ‘What’s new or different about the market?’, and ‘What soft-skills do our leaders need to encourage followership?’ or ‘How do we turn on-the-job know-how into a corporate asset?’). • While businesses should never be run exclusively by numbers, access to effective customer, performance and other actionable insights can be a key growth enabler. Organizations that lack such insights operate in a culture of “What we can’t see can’t hurt us” which is dangerous if not unprofessional. Business leaders know it’s better to know and to act than not know and hope. 12 Getting Back in Touch With Our Emotions
  13. 13. www.ustechsolutions.com Defining Enterprise Talent Capability 13 “WHAT the talent organization does to bring value to the enterprise”
  14. 14. www.workspend.com Sample Selection of Client Feedback “We’ve several VMS systems and they all report differently. It’s a struggle to gain consistent data to source the analysis we need to evidence poor performance.” “Our systems and partners are good at reporting statistics of throughput but many of these stats tell us what we already know, or could easily find out.” “Sometimes one has an instinct that something is wrong, or performing pretty badly, but it’s next to impossible to source the evidence – even if we had the time and resources to do so.” “It’s difficult to know what GOOD looks like and so we can only compare our operational effectiveness with what partners tell us is ‘acceptable’ performance. This is nowhere close to a satisfactory way of driving improvement.” 14
  15. 15. www.workspend.com Sample Selection of Client Feedback “We know we have some poor performing vendors but we can’t prove it.” “When we measure characteristics such as averaged time taken to fill vacant positions we can encourage the wrong behaviors in our partners because – yes – they can hit our SLAs but we end up with poorer quality talent, or worse people are placed and leave quickly; so we incur the upfront on-boarding costs without the benefits. We need measures that encourage the right behaviors from contributors and the best short, medium and long-term outcomes for our business.” 15
  16. 16. www.ustechsolutions.com 3 Perspectives of Enterprise Talent Capability 16
  17. 17. www.workspend.com • From discussions with talent leaders Workspend has identified job outcomes and constraints that prevent talent leaders from ‘getting their job done better’. • Analyzing these issue areas we were able to classify all of the actionable insights that talent leaders have so far said they needed into three perspectives. These are: 1. Sourcing 2. Candidate Fit 3. Workforce Effectiveness 17
  18. 18. www.workspend.com 1. Sourcing It’s about measuring the short, medium and long-term effectiveness of talent sourcing approaches; questioning whether the current model/approach is a good way, the best way or neither. 18
  19. 19. www.workspend.com 2. Candidate Fit It’s about measuring whether the right calibre of talent is being sourced and whether the people being recruited are happy and able to achieve their fullest potential. 19
  20. 20. www.workspend.com 3. Workforce Effectiveness It’s about measuring the impact that the talent capability has on the enterprise, whether it has reached an optimal level, or whether the way the organization thinks and acts is prohibiting the enterprise from growing in a way that it could if alternative strategies/approaches were adopted. 20
  21. 21. www.ustechsolutions.com JOB OUTCOMES What talent leaders say they want to achieve 21 These are a few of the key outcomes talent leaders say they want to achieve…
  22. 22. www.workspend.com Sourcing Talent Outcomes • Minimize the time taken to find the best talent and the best rate in the right place at the right time • Minimize the cost of talent (including departmental overhead and sourcing costs) • Minimize risk of litigation to the enterprise resulting from how talent is sourced and managed • Maximize productivity (i.e. the return per capita) of talent • Maximize learning of what works when it comes to talent provisioning to drive improvement 22
  23. 23. www.workspend.com Candidate Fit Outcomes • Maximize quality of talent – its potential to make effective contributions to operational performance and bring game- changing value to the enterprise beyond the anticipated role deliverables • Maximize the ‘happiness’ of talent – to create a positive working environment and give something back to the communities served by the enterprise 23
  24. 24. www.workspend.com Workforce Efficiency Outcomes • Maximize profit per head (minimize spend on talent) • Minimize unbudgeted spend on talent • Maximize derived value from third party partnerships 24
  25. 25. www.ustechsolutions.com JOB OUTCOME CONSTRAINTS What talent leaders say holds them back! 25 These are a few of the key outcome constraints talent leaders say they want to achieve…
  26. 26. www.workspend.com Access to Data “Data is not captured” “Data is inconsistently held” “Reports are inconsistent across systems/operations/regions” “Data takes a long time to harvest and repurpose into meaningful reports” 26
  27. 27. www.workspend.com Understanding data “We don’t create or manage data that we’d need for the most interesting things we want to measure” “We don’t create or manage data that we’d need for the most interesting things we want to measure” “It’s difficult to drill down to source data to understand what reports are showing” “There’s too much data and too little insight” “There are so many measures; we spend more time sourcing the reports than we do analyzing it” “It’s difficult to get benchmarking data to know what good looks like” 27
  28. 28. www.workspend.com Cultural/behavioral inhibitors “We get the data we’re given by vendors/partners” “Talent is not seen as strategic – reports are more administrative than anything else” “We don’t have time to analyze or blue-sky” “We’re happy enough when people get paid on-time” “No one role is responsible for talent: We struggle to gain consensus on the important things to measure” 28
  29. 29. www.workspend.com We’re conducting a survey of talent leaders We’d be grateful of your perspectives if you have a moment to complete the 6 questions in our survey. The first 100 talent leaders that complete it will get their own copy of our analysis (if they enter their contact details so we know how to get it to them!). Find the survey at: http://www.surveymonkey.com/s/JMRWSH9 29
  30. 30. Thank you. Workspend Inc. 101 Hudson Street Suite 3715 Jersey City, NJ 07302 T: +1 800-770-5973 www.workspend.com