Seventeen times as many HR professionals say that telecommuting on a regular basis is successful than say it is unsuccessful, according to a study released today. keep reading…
When you survey the most frequent users of analytics and metrics in the corporate world, not surprisingly you find that HR ranks at the very bottom. Compared to finance, which is ranked No. 1, HR compares poorly with only half of its functions being classified as advanced users and three times more HR functions are classified as non-users.
HR shouldn’t be surprised to learn that the executive team came in No. 2 because they (along with finance) are at the forefront of demanding more metrics and analytics from HR. The remaining business functions, operations, R&D, marketing, and sales all had a higher percentage of advanced metrics users than HR in this excellent 2013 AMA/i4cp study. I have been a public advocate of talent management and talent acquisition shifting to a data-based model for decades but the transition at most corporations has been slow, expensive, and painful. Because I give regular presentations on analytics and metrics, I’ve been able to capture a long list of reasons why firms should shift to a data-based model. The remainder of this article is simply a list of credible reasons that resonate with most HR audiences as to why your corporate talent function should embrace metrics and a data-based decision model.
Part I – Reasons Why Every Firm Needs to Shift to Data-based HR Model Using Standard Metrics and Analytics keep reading…
I work in the Silicon Valley, where we have a long-established mantra of “faster, cheaper and better.” But now no matter where you work in the world, almost everyone can sense the fact that every aspect of global business now seems to move significantly faster than it did even 10 years ago. You could even label the 21st century as “the century when speed dominated.” This increased speed means that new products and product features come to market at an amazing rate, copying is almost immediate, everything you rely on seems to become quickly obsolete, and long-established businesses routinely lose out to faster moving startups.
In this environment, even notable fast-mover firms like Google and Apple occasionally don’t move fast enough. This was the case where they both failed to effectively seize on the amazing social media and microblogging opportunities that the faster-moving startups Facebook and Twitter quickly dominated.
In the past, the business domination rule was simple … Large and established firms will dominate the smaller ones.
However the new rule has become “It’s the fast-moving and rapidly adapting firms that now dominate the slower ones, whether they are large or small.”
If Your Firm Changes Slower Internally Than the External World, it Has No Future keep reading…
There are few things that are more shocking to a manager then to have one of their top-performing employees suddenly quit on them. Some managers have described it as the equivalent to a “kick in the gut.” It is a shock not only because losing a key employee will damage your business results, but also because managers hate surprises, and as a result, they frequently wonder how they missed the signals that this person was going to leave.
Employee turnover is always an important issue, but most managers are unaware of the fact that overall, turnover rates went up 45 percent last year. And because I am predicting that they will go up at least 50 percent this year, individual managers should be aware of the precursors or warning signs that can indicate that an employee is considering looking for a job, so they can act before it’s too late.
After 20+ years of research on predicting turnover, I have found that if you approach the problem systematically, you can successfully identify which individual employees are likely to quit with an accuracy rate of over 80 percent. Firms like Google, Xerox, and Sprint, as well as several vendors, have developed processes for identifying who might quit. But for most managers, you must realize that you will simply have to develop your own identification process. So if you know of a manager who is worried about turnover, pass this list of turnover predictors to them so they won’t be surprised when their next employee announces that they are quitting.
The Top 10 Ways a Manager Can Determine if an Employee Is Considering a Search for a New Job keep reading…
Employees can be a very big recruiting resource
A recent report by PR firm Weber Shandwick — Employees Rising: Seizing the Opportunity in Employee Activism – has a lot to say about the potential for tapping employees as a recruitment resource.
The report is based on a global survey done by the firm. The survey found that engaged employees can become activists for their employers. They can be an employer’s best advocates, promoting the company as a great place to work. Many employees actively defend the reputations of their employers. More than half of all employees surveyed reported defending their employer to family or friends or in a public form like a website or a blog.
But they can also be its worst opponents. Just read the reviews on Glassdoor for proof of both.
None of this should be a surprise, but what’s most interesting in the report is that employee advocacy is a largely untapped resource. keep reading…
Recently I got to be a fly-on-the-wall at the quarterly Industrial Roundtable luncheon at the Federal Reserve Bank of Chicago. Yes, it was a fancy lunch in a fancy boardroom, and I was very impressed — but that’s not the point. In the room, there were about 20 leading Midwestern industrial manufacturers and distributors updating the Fed’s staff economists on the state of their businesses and industries.
I’m neither an economist nor an expert in manufacturing, so many of the details of their reports were a bit over my head. I can say that no one in the room was particularly excited or worried by the economic situation. The general consensus was that modest growth was expected to continue for the near future.
I did hear some disturbing concerns, though. keep reading…
Recruiting is an arms war, with rapidly advancing technology and complexity. At stake is the future of your company. Social media has changed the game, raising expectations of the applicant experience and making everything faster and more connected. Employees and prospects have the upper hand and our tactics have to keep up.
But we can all name companies that are snagging (and keeping) top talent. So beyond the most recent recruiting weapons, what one thing is helping them win that race?
In a world where it’s easy to get a “snapshot assessment” of your personal physical health or your organization’s financial or IT security effectiveness, what could be more valuable than an easy-to-conduct executive level “snapshot assessment” of talent management and HR?
Unfortunately I have found that most in HR are satisfied with a subjective or low-level tactical assessment, which instead of business impacts, covers spending efficiency, lean staffing, and whether managers and employees are satisfied with us.
In order to be considered as credible, instead this snapshot must be strategic, and it should mirror the executive snapshots that are available in finance, customer service, and IT. In order to assess how well you’re doing, a benchmark number must also be provided so that you can compare your results to your direct competitor firms. I have included six simple measures that by themselves are enough to give you a snapshot but accurate view of talent’s business impact. keep reading…
Like many people in the business of “human” resources, I’ve always been fascinated by what makes people tick — especially in the workplace. That’s why the book, Sensation: The New Science of Physical Intelligence by Professor Thalma Lobel was a fascinating read. The author explores how our personal and professional behavior and decision-making are influenced by the physical stimuli that we’re exposed to everyday.
From taste to smell to touch and beyond, this book’s sweeping exploration makes sense of the senses. Through various research projects we learn thought-provoking new insight that has many implications for HR professionals.
If you have intellectual curiosity about psychology, physiology, and how it all affects work behavior, try putting the book’s findings into these real-world work scenarios! keep reading…
The idea that you can create a template that will work forever doesn’t happen in any business … There’s some really, really bright people in this business. You can’t do the same thing the same way and be successful for a long period of time. — Billy Beane
I am a strong advocate of what I call “parallel benchmarking,” which is borrowing the proven best practices from completely different industries and functions. This article advocates the borrowing and the adaptation to talent management of what are known as “proprietary metrics” from the baseball industry. Proprietary metrics get their name because they cover metrics that are so powerful that they are “owned” and their components are therefore not shared. In baseball, there are dozens of proprietary metrics, while in the corporate world of talent management, they are surprisingly rare. Corporate examples of these proprietary metrics include Google’s “retention metric” for predicting which employees are about to quit and its “hiring success algorithm” for predicting the characteristics that lead to new hire success on the job.
Baseball Has the Most Advanced Metric Model to Learn From keep reading…
Every few years or so, it happens. Someone declares a “War for Talent,” battle lines are drawn, and then candidate poaching begins. While some of this is a little sensationalist, it’s also very true. Any company who wants to attract the best and brightest, and also the best personality and culture fit, must set themselves apart. Since there are many companies all vying for the same types of candidates, the landscape can get cluttered.
So let’s talk about who, what, where, why and how: keep reading…
Empathy is not a skill recruiters and hiring managers include on job descriptions, which explains why it’s in short supply among American managers.
How do we know this? Because the leadership coaching and outplacement firm Lee Hecht Harrison did a survey asking workers about their manager’s empathy. “How would you rate your manager’s ability to demonstrate empathy for employee situations?” was the question. Virtually non-existent, was the answer of 52 percent of the respondents.
“Empathy isn’t a weakness, but fundamental to good management,” says Kristen Leverone, senior vice president for LHH’s Global Talent Development Practice. keep reading…
Baseball spring training is here, so it’s a perfect time for us to talk about the importance of an organization’s bench strength. When you think about all-time greatest baseball players, near the top of the list are legends Ted Williams, Ty Cobb, Ernie Banks, Rod Carew, Tony Gwynn, and Harmon Killebrew.
Guess how many World Series championships those Hall of Famers won combined? As many as you and me: Zero. Those players all set individual major league records, but their teams never won the ultimate prize.
Tying that point to our organizations, we can’t be satisfied having just a couple superstars on our team and no bench strength to support them. Ultimately, we won’t win. Our organizations won’t achieve key goals in a timely manner, and we run the risk of sliding backwards if we lose one of our superstars.
Too often, we hire people whose full potential and ambition are invested in performing the jobs they’re hired for. Then, when we need more from them, they’re not able or willing to go the extra mile.
Your goal should be to have at all times (or be working toward) at least one employee with the skills, personality, character, ambition, and technical competence to take over each key position in your organization right away. Without this, your company will be unable to attain its growth goals quickly, reducing future profits and opportunities for your co-workers to achieve their career goals.
Also, if a key player is incapacitated for a couple months or longer, your organization could be damaged. I learned that lesson the hard way when I was diagnosed with cancer. But I was fortunate that we had hired several high-potential people who filled in for me when I was sidelined by my surgery and chemo treatments.
Here are four important actions I suggest you take to improve your bench strength: keep reading…
A think piece designed to stimulate your thinking on competing against the top 1 percent firms for top talent
If you’re an executive interested in recruiting, here is a scary thought to consider. For the first time in your lifetime: As a result of their compelling approach to managing talent, the elite 1 percent of firms now have a powerful recruiting brand advantage. The resulting “recruiting brand gap” between the top 1 percent and the remaining 99 percent of firms is now so wide … that most firms have given up trying to match the talent approach of the 1 percent.
The Top 1 Percent of Firms Have Unique Talent Differentiators keep reading…
An employer trying to hire the perfect candidate is in many ways a good thing. It’s a significant improvement from the days of hiring anyone who could fog a mirror. But has the pendulum gone too far?
The answer is a resounding yes. A perfect candidate does not exist. He never has, he never will. The best any manager could hope for is the candidate who has many of the essential skills and experiences, lots of potential, a willingness to learn and develop continuously, and is engaged with and by the culture. That’s a tall order — a very tall order and one that many managers take to extremes.
The result of falling victim to The Perfect Fit Syndrome is that sometimes these positions are never filled. I’ll admit that might be the extreme case but it’s also not so uncommon. Many managers place the sole blame on the poor quality of job applicants.
But that’s a cop-out and one excuse that senior management has bought hook, line, and sinker. keep reading…
A couple years back I was asked to outline “the future of talent management” in a talk at Google headquarters. Then as now, I predicted the future of talent management will follow the “professional sports model,” which many of you undoubtedly witnessed during yesterday’s Super Bowl.
Some in HR carelessly make the mistake of instantly dismissing sports analogies as irrelevant, but those individuals fail to understand that the NFL and its teams are multibillion-dollar businesses with the same economic bottom line and the need to dominate competitors as any other corporate businesses. So if you want some talent creds, tell your boss that you watched the Super Bowl not just for enjoyment, but also in order to learn some valuable talent management lessons. My top eight talent management takeaways from the Super Bowl are listed below. keep reading…
Now deemed widespread in 35 states, and regionally extensive in several more, this season’s influenza outbreak has not yet reached the pandemic stage, but, says the Occupational Safety and Health Administration, if the flu outbreak of 2009 is any guide, most workplaces will not be ready if it does. keep reading…
“Hire, reward, and tolerate only fully formed adults,” writes Patty McCord in the Harvard Business Review. “The best thing you can do for employees — a perk better than foosball or free sushi — is hire only “A” players to work alongside them. Excellent colleagues trump everything else.”
If you hire the right people, so much of what companies do in the name of human resources becomes, if not superfluous, at least of much less importance. keep reading…
Regardless of mission or vision statements, the ultimate goal of any high-performing HR function — and or its “talent fulfillment” group — is to provide the support, resources, and expertise to help their organization acquire, develop, and retain top talent — a responsibility that starts with strategy, focuses on acquisition, and never ends.
Talent fulfillment — the act of identifying, acquiring, and retaining top talent – can mean different things to different organizations and HR professionals. It could be hiring external recruitment agencies, temporary employees, contractors, or some combination thereof. That said, those organizations operating with that mindset, unless in the midst of a significant growth phase, aren’t likely to meet anyone’s definition of high performing. High performance means finding talent, growing talent, securing talent, and keeping talent — your organization’s own talent.
This is sort of like a short-order cook and a baker. keep reading…