The Latest HR Technology to Drive Productivity & Profit
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HR Forum - The Latest HR Technology to Drive Productivity & Profit NSWBC, Cornerstone OnDemand & AbilityMAP – July 14, 2016, Sydney Australia Presentation covers key topics: - A New World of Work in Australia and Beyond - Mobility, and more important the rise of mobile devices, combined with social networking has changed our work models. Employees are now leveraging multiple devices to get work done no matter where they are. - Data Driven - Organizations need deeper insights to solve for increasing skills gaps and talent shortages, developing future leaders, and improved employee engagement. - Building your own Talent Management vision
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The Latest HR Technology to Drive Productivity & Profit
- 1. The Latest HR Technology to Drive Productivity & Profit
- 2. Productivity the quality, state, or fact of being able to generate, create, enhance, or bring forth goods and services. Profit pecuniary gain resulting from the employment of capital in any transaction. People the entire body of persons who constitute a community, tribe, nation, or other group by virtue of a common culture, history, religion, or the like.
- 3. A New World of Work in Australia and Beyond
- 4. Macro Global Economic Forces SIMULTANEOUS FAST DISRUPTIVE
- 5. Source: PWC Advisory 2015c Big Data Mobile & Consumerisation Cloud Computing CEOs expect tech to transform their business CEOs that believe HR is well prepared The Evolution of Technology
- 6. 20202010200019701950 8% 9% 10% 15% 21% Proportion of the population aged 60+ years The Workforce Is Aging
- 7. 50% Half of the global workforce will be Millennials in 2020 And…Getting Younger at The Same Time 2020
- 9. Changing Needs of Employees Source: Aon Hewitt 2015 Global Employee Engagement Survey
- 10. Impact to Human Resources and Talent Management
- 11. 1995 2005 2015 PROCESS-CENTRIC INTEGRATED DATA-DRIVEN Talent Management Is Changing
- 12. Talent Acquisition Learning & Development Performance Management Compensation Management Succession Planning From: Linear Talent Management Processes
- 13. To: Truly Integrated Talent Management 2 3 41 57 6 Performanc e Management Sourc ing & Rec ruiting Learning & Development Talent Strategy & Planning Co mpensation & Rewards Suc c ession Planning Leadership Development Co mpe te nc y Ma na ge me nt HR Dat a an d Me tric s
- 14. Are you attracting and hiring top talent? Do you have a culture of collaboration that engages your people? Are your new hires quickly reaching productivity and blending into your culture? Can you deliver modern learning—both formal and informal? Are you giving your people continuous feedback? Can you identify and retain your top talent at all levels? Critical Talent Questions Do you have a complete view of your entire workforce? Can you provide talent reporting and data-driven predictions and recommendations? Is your compensation plan fair and designed to drive performance? RECRUITING ONBOARDING CONNECT LEARNING PERFORMANCE COMPENSATION SUCCESSION LINK ANALYTICS
- 15. What is Big Data? Our apps are collecting data all the time. Define the question. Use the data to unlock the answer. How does it Work? The power of analysing all this data with a state-of- the-art machine learning platform. And Now, Big Data
- 16. Types of Data Analytics What happened? Why did it happen? What will happen? What should I do?
- 17. Who will stay longer? What social factors lead to more engaged, high-performing employees? What activities lead to quicker time to productivity? Who will be out of compliance? What factors lead to high or low performance? Who will be a high-potential successor? What pay structures lead to higher performance? Predicting The Future RECRUITING ONBOARDING CONNECT LEARNING PERFORMANCE COMPENSATION SUCCESSION
- 18. ‘If you knew at time of hire, what you now know, would you hire that person again?’ Yeah, but…People & Productivity
- 19. 2 3 41 57 6 Performanc e Management Sourc ing & Rec ruiting Learning & Development Talent Strategy & Planning Co mpensation & Rewards Suc c ession Planning Leadership Development Co mpe te nc y Ma na ge me nt HR Dat a an d Me tric s Source: Bersin & Associates 2011 Strategy, Management & Competency
- 20. Individual • Knowledge • Skills • Attitude • Intellect • Personality • Experience Environment • Job Process • Culture • Reward Systems • Synergy / Teamwork • Management Approach • Social Situation What is “Performance”? P = fn (I x E) Performance = function of the interaction of the individual and the Environment
- 21. Variation in individual performance in any job is high Research suggests the top 1/3 is 40% more productive than the bottom 1/3 Source: Research conducted by Schmidt & Hunter Source: E&Y Australian Productivity Pulse Report, May 12 23% Super Achievers 46% Solid Contributors 31% Under Performers
- 22. ‘I’ tools are accurate, but no common skill (competency) measurement framework
- 23. Hiring Managers don’t know the ‘E’ Actual Team member High-Performance Competencies A manager’s view of High- Performance Job Competencies
- 24. Result = Perpetual ‘Subjective Hiring Error’ ‘I’ and ‘E’ are being measured on different frameworks A manager’s view of High- Performance Job Competencies
- 25. The ‘I’ - What am I good at? Proprietary Competency Framework EQ Teamwork Resilience Drive Organisation IQ Verbal Numerical Problem- solving • A proprietary assessment and associated algorithms that map an Individual’s IQ and EQ onto the a proprietary Ability Competency Framework
- 26. The ‘E’ - What does high performance look like in the job today? Proprietary Competency Framework High Performer Scores Subject Mater Expert(s) View • Subject matter experts complete an Assessment to identify and prioritise the competencies needed for high performance in a given role – OR • A group of High Performers are assess to produce a High Performance Benchmark for the Job in question.
- 27. ‘What does high performance look like in the job today?’ High Performanc e ‘E’ Profile Steven’s ‘I’ Score Jessie’s ‘I’ Score • Individuals & Jobs assessed on the same dimension • The Individual’s score is compared to the Job’s High Performance suitability score • Matching Engine produces an report detailing how well candidates meet the competencies required for high performance in the role ‘I’ ‘E’
- 28. Objective Match of the Best ‘I’ for the available ‘E’
- 29. Talent Management in Action
- 30. Talent Management Vision Easy & engaging user experience Open innovation & integration Anywhere, anytime people management Simplified admin & analytics
- 31. “CBA fosters a customer-centric, highly engaged culture where employees are passionate and committed.” ─ Andrew Culleton Executive General Manager, People Services - PROFIT - LEVERAGING TALENT INSIGHTS - PEOPLE - TRANSFORMING CULTURE - PRODUCTIVITY - UNIFING TALENT MANAGEMENT
- 32. Kevin Chandler kevin@chandlerhr.com.au THANK YOU Mike Erlin merlin@csod.com
Notas do Editor
- The technology that makes this possible is a slew of new big data frameworks – processing and storage frameworks. In the last 5-10 years, it has become much cheaper, easier, and faster to look at data in disparate places, and turn it into insight. As technology advances, leaders are acknowledging its power. A study by PwC this year surveyed CEOs about their views on technology. 86% of CEOs expect tech to transform business over the next 5 years. 39% of that same group of CEOs believe that HR is well-prepared. Why? A lot of HR departments are not technologically sophisticated or even resistant to technology and don’t understand the rapid pace of change in technology. So, what’s the big change now? Big data is transforming the way organizations are going to work and will help you get ahead of everyone else. It’s what is next in leveraging technology to help HR make more-informed talent decisions to drive business value.
- Talking Points: One of the biggest challenges many companies face today is the aging workforce. It is estimated that 80 million baby boomers will retire over the next 5-7 years That means succession planning, mentoring, training, and even recruiting is more important than ever. Commentary: The human population is getting older. Fertility is falling, and the world’s population is graying dramatically. While aging has been evident in developed economies for some time—Japan and Russia have seen their populations decline over the past few years—the demographic deficit is now spreading to China and soon will reach Latin America. For the first time in human history, aging could mean that the planet’s population will plateau in most of the world. Thirty years ago, only a small share of the global population lived in the few countries with fertility rates substantially below those needed to replace each generation—2.1 children per woman. But by 2013, about 60 percent of the world’s population lived in countries with fertility rates below the replacement rate. This is a sea change. The European Commission expects that by 2060, Germany’s population will shrink by one-fifth, and the number of people of working age will fall from 54 million in 2010 to 36 million in 2060, a level that is forecast to be less than France’s. China’s labor force peaked in 2012, due to income-driven demographic trends. In Thailand, the fertility rate has fallen from 5 in the 1970s to 1.4 today. A smaller workforce will place a greater onus on productivity for driving growth and may cause us to rethink the economy’s potential. Caring for large numbers of elderly people will put severe pressure on government finances.
- Talking Points: One of the biggest challenges many companies face today is the aging workforce. It is estimated that 80 million baby boomers will retire over the next 5-7 years That means succession planning, mentoring, training, and even recruiting is more important than ever.
- Talking Points: Who – Today we have 4 (or some say 5) generations in the workforce forcing us to rethink our organization structures and models What – Roles are changing within organizations; Jobs lost in the recession have either been eliminate or redefined to meet the new needs of the organization; Job expectation are also be redefined Where – It’s a global, virtual world; we are no long constrained to our desk to get work done. Work/life balance is blurred and Work is adapting to employees not vice-versa When – When we work is also changing. Flex-hours, shared jobs, work-life balance means greater emphasis is being placed on maximizing performance instead of logging hours. How – Mobility, and more important the rise of mobile devices, combined with social networking has changed our work models. Employees are now leveraging multiple devices to get work done no matter where they are.
- 23% - Colleen Longstreet and Michelle Winkley. “Learning Technologies.” Training Industry. December 1, 2011. Accessed on September 27, 2014, at http://www.trainingindustry.com/learning-technologies/articles/elearning-and-the-impact-on-employee-engagement.aspx 19% - “For example, at an international truck rental company, employees who participated in training programs experienced a 19 percent turnover rate. Those employees who didn’t undergo training had a turnover rate of 41 percent.” Rosanne D’Ausilio. “The Impact of Training on Turnover.” TMCnet. July 10, 2009. Accessed on September 28, 2014, at http://technews.tmcnet.com/channels/call-center-training/articles/59697-impact-training-turnover.htm 29% - Randy Samsel. “Hidden Costs of Poor Talent Strategy Alignment.” eSearch Jobs. April 29, 2013. Accessed on October 26, 2014, at http://www.esearchjobs.com/blog/hidden-costs-of-poor-talent-strategy-alignment 87% - A 2013 survey by Gallup found that a mere 13 percent of employees worldwide are fully engaged. Steve Crabtree. “Worldwide, 13% of Employees Are Engaged at Work.” Gallup World. October 8, 2013. Accessed on September 26, 2014, at http://www.gallup.com/poll/165269/worldwide-employees-engaged-work.aspx 2x - According to Bersin, organizations with “high-quality development plans” experience 27 percent lower turnover and see double the revenue per worker. Kim O’Leonard. “2009 Talent Management Factbook: Executive Summary.” Bersin and Associates. May 2009. Page 8.
- Talk Track Forthcoming – (Listen at Adam’s Convergence EMEA keynote) 1995: Process Centric 2005: Integrated - The need for shared information between HR processes drove the need for integrated talent management. 2015: : Data Driven - Organizations need deeper insights to solve for increasing skills gaps and talent shortages, developing future leaders, and improved employee engagement.
- 1. What is Big Data? The basic idea behind the term “Big Data” is that everything we do is increasingly leaving a digital trace (or data), which we can use and analyze. It refers to our ability to make use of the ever-increasing volumes of data. – Bernard Marr, Advanced Performance Institute (UK). • So big that it has implications for everyone • Transforms the way we do business and live our lives Benefits are very real, truly remarkable, and only going to grow: Better understand and target customers Retailers: predict what products will sell Telecom: predict if and when a customer might switch carriers Optimise business processes Retailers: optimise their stock levels Supply chains: optimise delivery Impact our lives Enable us to find new cures Better understand and predict disease 2. How does it work? The datafication of our world gives us unprecedented amounts of data. The latest technology (cloud computing, distributed systems together with the latest software and analysis approaches) allow us to leverage data to gain insights and add value. (Barnard Marr) First, we are collecting data on different actions in your Cornerstone products, as well as data that other clients have shared with us… Data that is generated in your system Data that you collect from your employees And data that is shared by your fellow customers We then analyze this data instantly to determine which of these data are related to the question you want to answer… 4 keys layers that data has passes through for actionable insight Data sources layer – sources of data for your organization Data storage layer – where your Big Data lives Data processing/analysis layer – Analyzing the data to draw useful insights Data output layer – Take action from insights to benefit from them Define The Question. Machine learning allows us to collect massive amounts of data, mine the data, and use evolving algorithms and statistics to uncover unique patterns and insights and make predictions based on these. The key is asking the right business question. Then use the data to unlock business value.
- Talk Track – The general goal of analytics is to gain actionable insights that result in smarter decisions and better business outcomes. There are 4 categories of data analytics: Descriptive: Description of what has already happened (What happened?) Diagnostic: Exploration of meaningful information (Why did it happen?) Predictive: Prediction of future outcome based on historical data (What will happen?) Ex: Credit scoring to predict likelihood of making future payments on time Prescriptive: Recommendations based on predictive model output (What should I do?) This is the most valuable type of analytics because it actually recommends the specific actions that could increase the likelihood of a particular outcome occurring based on available data. One example of this: On newest version of Google Apps, they are now mining your calendar information for appointments you have coming up, scrubbing that against Google Maps traffic data as well as your own individual movement patterns you’re likely to take based on your history, and using that to automatically provide a prescriptive recommendation well before your next appointment occurs for what you should do to get there on time.