Our working group research identified a four-stage maturity model for talent analytics, and we found that fewer than 8% of all companies are even close to stage 4. Human Resources teams have had “HR Analytics” teams for many years, but only now are they starting to rigorously correlate all this internal people-data to business data. Talent Analytics is still a brand new industry.Ĭustomer analytics and marketing analytics have been around for years. This may seem like an obvious finding, but it gave the company a whole range of new strategies for hiring, development, and coaching of branch managers.Īnother large organization, the Royal Bank of Scotland, has correlated its employee engagement measures in such detail that they can actually predict branch performance based on management behavior.ģ. Managers who visited branches more often reduced fraud. In fact, there was a direct correlation between branch fraud and the age, location, and travel behaviors of branch managers. A large retail bank found that “leakage” (theft) from many of its smaller branches was highly correlated to certain behaviors and people-related data in their company. And what they are finding is that BigData in HR is just as valuable as BigData about customers. What these companies are doing is consolidating hundreds of data elements about their own people and then correlating them to customer retention, sales performance, safety, fraud, and many other measures. We have been working with a special working group of top companies in the area of BigData for HR. Outside of customer analytics and marketing analytics, internal talent analytics is one of the most exciting new opportunities in business. This solution, delivering transparent information to your own managers, is one of the biggest competitive advantages you can build.Ģ. Of the top four items cited, one of the most important was “delivering transparent information about customers, products, and people to line management.” I just delivered a keynote speech on Building Business Agility through People at our research conference, and I cited the fact that The Economist asked more than 500 CEO’s what would create agility in their company. And there are dozens more right behind soon to go public. Hence the huge market for tools and services companies like Splunk. What they lack is fast, transparent systems which produce this data in real time. Most businesses today have plenty of data with which to make decisions. I want to highlight a few key issues which affect you as a business leader, and talk a little about what BigData means to HR and talent management.ġ. (One Exabyte is equal to 140,000 X the data in the entire Library of Congress.) And with more than 8 Exabytes of data now captured in businesses today (expect to grow to 44 Exabytes in the next 6 years), we are all going to want to analyze more data faster. There is almost no limit to the value of deep data analysis in business. I now live in the world of corporate talent management and HR, but in my prior life I was the director of data warehousing products for a database company. Why the huge valuation? Because BigData is BigBusiness. This valuation trumps the hot companies in social networking: Jive trades at 20X revenue, Google trades at 5X revenue, and Facebook, well we’ll see. Splunk, a company that uses BigData technology to analyze huge amounts of customer and transaction data, just went public with a valuation at 28X revenue ($ 3.2 billion). Understanding Talent Intelligence: A Primer.The Big Reset Playbook: Organizational Culture and Performance.The Definitive Guide to Pay and Benefits.GWI Project Research: Consumer Packaging Goods Industry.Labor Market Insights: Consumer Banking.Talent, Recruiting, and Career Mobility.Corporate Learning, Training, Career Management.Employee Experience, Engagement, Hybrid Work.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |