We are in the midst of a global skills crisis that is forcing companies to rethink how they attract and retain the right talent. Imagine being able to know why the top salesperson at a business has quit, and then how to ensure it doesn’t happen again. What if businesses could use the profiles of their top performers to identify the candidates most likely to be high performers in the future.
Business leaders are looking for more, data-driven people decisions enabling business goals. I’m not talking about simplistic HR metrics and KPIs; I’m talking about People Science. This means being able to know why one of the firm’s top performers has quit, or what experiences new hires need to get up to speed quickly. It means the ability to hire and develop the right people today while building the skills needed for tomorrow.
What’s more – today’s people insights can prevent tomorrow’s problems. For example, the capability to know the reason why a top performer has quit can help to ensure that the business builds the right work environment, offers the right compensation packages, and creates consistently great workforce experiences to ensure that it doesn’t happen again in the future. By looking at the profiles of the best business leaders today, and the skills likely to be needed in the future, tomorrow’s leaders can be identified and developed so they are ready with the right skills at the right time.
It’s not just about what the business wants though; employees have high expectations too. They want achievable targets based on metrics, specific reasons why they haven’t been promoted, and insight which can help them to develop. For example, it may be possible to let a sales consultant know they don’t perform as well when pitching to prospective clients in teams, which could enable them to improve the way they collaborate with their colleagues.
There’s a growing theme here. These examples of insight gleaned from data aren’t just about HR; they’re about people and the overall business. Put simply, a new approach is required to the HR function. Automating existing HR processes is not enough. HR leaders need to become Chief People Officers – thinking differently about how they engage with employees and design better ways of working to drive productivity and retain your best people. The power of People Science is real, and it could make a huge difference in being able to outwit rivals, ensure the business has a competitive edge and be able to retain and recruit top talent.
About the Author:
Adam Hale, CEO at Fairsail, previously acted as Executive Chairman and Non Executive Director having spent over 30 years in the technology industry. He was formerly Head of Software and European Technology at Russell Reynolds Associates, the leading executive search firm and before that ran large system implementation projects at Accenture. Adam is also a committee member of the Technology Leadership Group (TLG) for the Prince’s Trust.