The demand for talent has been picking up over the past few years, perhaps to the degree that the balance of power has shifted from employer to employee.
Employees are becoming more mobile and willing to work as contracted specialists and independent consultants—a development that has compounded the challenges associated with hiring, engaging and retaining staff.
The talent landscape within corporations has also been changing. Boomers are retiring at a steady rate and millennials are stepping in to take on these positions on their own terms. Flexible work arrangements and positive work-life balance are now expected.
Through the thoughtful assembly and diversification of teams, business leaders can bring consistency and balance, which increases the odds of success. To accomplish this, team leaders must be able to confidently identify the strengths of each person on their team and each potential new hire, then define their roles while understanding how to focus and challenge each person.
“People analytics" is not limited to simply comparing candidates for selection. Organizations can also use this tool to support complex objectives like:
- Rapidly assessing and analyzing hundreds of candidates for an entry-level position while predicting potential fit for future positions.
- Conducting career-path and bench-strength analysis for existing teams.
- Comparing recently promoted senior leaders or predicting the fit of a potential manager with various teams.
- Identifying high-potential candidates for emerging-leader programs.
- Informing the development of onboarding programs.
- Assembling innovative teams with a proper mix of strategically focused individuals who can facilitate, implement and execute.
- Mining existing talent pools, such as full-time, part-time and contractor employees, for people that can fit a wide range of positions.