Role of Analytics in Building Strategic Talent Supply Chain
Acquiring the right talent and deploying where required can be quite challenge to many organizations. There must be a strategy to build a pipeline of quality talent, hire and deploy where required. This strategy must be implemented rigorously with a built-in provision to receive and channel feedback from implementation. So, how can one strategize and implement a sound supply chain program with emphasis on continuous monitoring?
State of Information in Organizations
Organizations are saddled with large amount of information related to talent from their prior engagements. Apart from this, more information (as data) on talent flows into their enterprise systems regularly. Examples of these sources are social media (Facebook, Twitter, LinkedIn, Google+), broadcast (television, radio), print (newspapers, periodicals, magazines, flyers, billboards, resumes, banners), internal portals (employee referrals, intranet), walk-in, campus recruitment, roadshows and so on.
The flow of such information due to this multichannel communication provides a great opportunity to be channelled into intelligence. This intelligence will provide the organizations with insights into many facets of their talent management practice, especially in building a sound talent supply chain over a period of time. This can bring a windfall of opportunities to organizations that are talent intensive.
Information of this type is already available to be accessed, processed and analysed to derive critical insights. The output of such a successful venture will be steady progress of the organization in the market in terms of economy, scale, leadership, institution and many such positive footfalls.
Using Data points to Derive Context Based Insights
Information as such is not present for consumption but must be obtained from data present in the enterprise systems. When processed this data becomes information and analytics (over multiple processing).
Analytics can be used to obtain insights on the whole ecosystem of Supply Chain Management (SCM).
Insights can be obtained for the following facets of SCM:
· Compensation and Benefits: know the compensation and benefits up to granular level, monitor the compensation and benefits trends in the job market for the job(s) in question, know what your competition is offering for the same job, etc.
· Learning and Development: understand the skill level, employability, training required, develop core competencies or additional competencies etc.
· Fit gap analysis: understand employee fit for various roles, gaps in the skills or competencies, gauge trends via various graphical representations of fit-gap data etc.
· Talent Strategy: gain insights into the roles that would be vacant, the type of talent to be hired for these roles, when to hire, feasibility of creating a bank of ready to hire talent
· Branding initiative: identify the people, agencies or institutions who can recruit talent on your behalf, reach out to candidates courted by your competitors, identify the most effective mediums to advertise your brand, monitor the trends in advertising footfalls etc.
This is just the starting point. Using context based analytical approach HR professionals can effectively manage, retain and build a sustainable Talent force for present and future requirements.
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