Creating new performance indicators for talent management and business results
Forward-thinking organizations anticipate and innovate in business and technology management as well as in the management of specialized talent and performance indicators.
In times of turbulence and unpredictability, there is one thing we can all count on no matter what happens: change. One hundred percent predictable, change can take many forms, some of which are critical assets.
Intelligent person-machine collaboration is a response to the transformation of the labor market and the economy. Cloud federation of information technology (IT) capabilities is a solution for managing disparate and aging legacy systems. The digitization of a supply chain makes exchanges more fluid, from purchase to consumer. Digitizing the customer experience enhanced using artificial intelligence is a solution to changing habits, whether it’s mobility, drone delivery or recommendation robots.
Change means innovation. Well managed, as part of a strategy that integrates anticipation, an action plan, proactive risk management and a vision of the future, change is a sign of resilience. Well-orchestrated, it feeds conceptual innovations to overcome the shortcomings of traditional indicators, optimize their relevance, and improve decision-making to move forward rather than simply analyzing the past.
An example? Talent management.
Talent management is more than just recruiting. It affects all aspects of the organization, from its business strategy to its execution, performance and evolution. In times of uncertainty, indicators such as the number of employees, the cost of hiring or the turnover rate become essential, but they do not reflect the full positive impact of sound talent management on performances. New ones need to be created in addition to the latter.
Imagine a dashboard that uses predictive analytics to anticipate talent management needs, issues and challenges. Imagine an intelligent tool that compiles heterogeneous data to measure employee engagement and loyalty in real time.
Anticipating, creating and innovating
Ten questions can be used as a starting point to determine the new performance indicators and obtain answers that clarify the reality.
1. Labour market transformation and talent shortage
Is our organization aware that by 2035, much of the labour market will be made up of specialized professionals working independently or on a casual basis, and does our organization have an action plan in this regard?
2. Developing tomorrow’s skills
Has our organization identified the gap between its current skills and those that will soon be required, and has it developed a skills development program for trades that do not yet exist but soon will?
3. Strategy and planning of talent needs
Does our organization plan its workforce needs based on medium- and long-term projects or only on short-term objectives? In other words, is it proactive or reactive in planning its talent needs?
4. Risk management
Given the chronic scarcity of talent, which members of our team are at risk of leaving the company and why?
5. Integration of disruptive innovations in talent management
Are our managers aware of the disruptive innovations that are becoming business standards and the new challenges they present, and do they have the leadership necessary to meet these challenges?
6. Frictionless change management
Do we know how to manage change or is it a threat rather than an opportunity to innovate?
7. Diversity and equal opportunities
What place do we give to diversity and mixity, as well as their added value, in our ranks and at all levels of the organization?
8. Feedback, involvement and improvement
Does our culture encourage feedback from our employees in the management of their employee file to improve their performance, the quality of life at work, our products and services and, ultimately, customer satisfaction?
9. Culture and leadership
How are our talent management culture and leadership perceived, both internally and externally?
10. Talent management ecosystem
How healthy is our talent management ecosystem, from needs analysis to supplier quality, sourcing, induction and integration of new recruits? Is it proactive, rich and diverse or reactive, poor and monocultural?
It is not enough to answer yes or no to these questions. Indeed, adequately answering the first two requires “proactivity indicators” with respect to medium- and long-term skills development issues. The fourth seeks to identify issues related to workplace well-being, which cannot be reduced to a numerical indicator. The same applies to questions six and seven, which deal with corporate culture and leadership.
Satisfactorily answering these questions requires upstream reflection and planning of needs, which makes it possible to explore neglected solution paths or to change points of view to move forward more quickly. As a leader in talent management, Cofomo can not only accompany you in your thinking and planning, it can also take you where you want to go.
Creating a good strategy always starts with asking the right questions. Far-sighted organizations think outside the box and innovate in business and technology management as well as in talent management and performance indicators. Their success is based on anticipation and creativity at the basis of a strategy and action plan that integrate change in all aspects and at all levels of the company.
- Where are we?
- Where do we want to go?
- What do we need to do to get there?
Need help answering these questions? Cofomo is listening and is ready to take action.