Sunday, May 4, 2014

Data-Driven Talent Management

Integrating data-driven skills and tools into HR will challenge the organization to be more fact-based, more objective, more cost-effective.

Information is the lifeblood of digital business, and makes an impact upon all different aspects of business, especially in talent management space, as people are the most invaluable asset in business, rather than following traditional subjective HR model, forward-looking organizations shall experiment, develop and mature data-driven talent management for leaping through digital transformation.

The benefits of data-driven talent management: Data-driven talent management will bring business leaders together cross the organization to share their experience and insight wherever there is a GAP in the system, help to streamline and identify root causes immediately, and give practical guidance for improving and ordering HR data and using it in creative ways to gain predictive insight and competitive advantage. 
•Creating a vision and path for workforce analytics 
•Engaging workforce planning & deployment & development based on performance 
•Doing social network analysis to improve effective communication & collaborative innovation 
•Embracing futuristic trends such as visualization and proactive presentation

The balance of both data and intuition in decision making: The organization should have the maturity to leverage and optimize the analytics or insights to make critical decisions, rather than looking as mere data and continue to launch and drive programs which operate as an island. Data-based decision-making may not completely replace the human decision-making. You cannot actually deal with people-related decisions, in the same way, you do with engineering decisions. Human resources are related to people and people are not machines. Tools are innovative, important and useful, but they are intended for improving efficiency, adding value, making optimization or as a source of inspiration for new ideas. When it comes to managing people and to making human-related decisions, algorithms are not enough. There are a lot of additional parameters, correlations, and context that should be taken into account. The talent-related decision is complex, using a blended, integrated approach with a selected set of data-driven tools and analytics capabilities will eventually provide competitive and operational advantages and support to the organization.

Data-rich, information-sharing culture creates business harmony. By creating an environment for people to come together, to interact and to exchange different views on common topics of interest may create harmony and trust and eventually will benefit the organization. In this hyper-connected, over-complex world with growing organizational scenario, it is tough for any individual or department to remember people related aspects of business, it is easy to get lost in where to start and how to go about on certain problems and become clueless in the process, the data driven approach in talent governance enables business to build effective indicators to get all the parties aligned to a common aspect for further discussions .When all parties agree with an open mind to look at something in common, it creates transparency and harmony and builds trust based culture over a period of time.

It takes the time to get matured for business implementing data-driven talent management and making a big difference to the business bottom line. However, integrating data-driven skills and tools into HR will challenge the organization to be more fact-based, more objective, more cost-effective, and ultimately producing higher performing business result.


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