Tales from the Frontiers of Talent Management Science: Part 4 of 4– Leveraging Big Data, Evolution of succession management
Members of the Cloud Customer Insights & Alignment team attended the Society for Industrial/Organizational Psychologists (SIOP) annual conference in May. This conference brings together top researchers and practitioners from all over the world to share cutting-edge findings and best practices in the world of talent management. This blog series provides a quick summary of some of the interesting things we learned.
Leveraging “Big Data” requires a big commitment
The success of any HR analytics function depends on having the right talent, the right culture, and the right leadership support. A panel of companies performing advanced HR analytics shared insights about what is required to get business value from large and complex HR datasets. Common themes were (a) strong leadership commitment toward the value of HR analytics as it may take over a year to produce highly impactful results, (b) creation of an analytics team consisting of several full time highly specialized statisticians and data experts, and (c) cultures that place high value on the importance of people and data-driven decision making as key factors in business success. (based on: “Pivot tables to P-values: Creating an Internal HR Analytics Function”, chaired by Amy Walzer, ConAgra Foods)
It’s different at the top: Succession management changes as you go up in an organization
The objectives of a company’s succession management program look different depending on organizational level. A panel of experts who oversee succession management at PepsiCo, New York Life, and BHP Billiton discussed how succession methods evolve to meet different business needs. A key observation was that succession management can look very different depending on where it is being conducted in the organization. At lower levels, emphasis is placed on assessing and developing general leadership potential. At senior levels, emphasis shifts away from assessment and focuses on preparing leaders for specific roles. (based on: “High-Potential Talent: How Far Have We Come?”, chaired by Orla NicDomhnaill, Institute for Leadership Potential)
Tales from the Frontiers of Talent Management Science: Part 3 of 4– Collaboration and training, Relationships and Millennial recruitment, and Holding managers accountable for accurate performance ratings