by Janine Nicole Dennis | Feb 29, 2016 | Data and Analytics, Featured, HR Innovation, Talent Management
Image courtesy of Flickr.
I recently had the pleasure of speaking with Human Capital Institute on the HCI Podcast. The focus for our discussion was: The Future of Predictive Analytics in Talent Management. It’s interesting to think about the future of this union- yet it would seem that we are getting ahead of ourselves to be so forward-thinking. One of the things I hope came across in this podcast was that the adoption of predictive analytics, big data and the like doesn’t need to be complicated.
In recent weeks, I have discussed the perils of trying to keep up with every trend in business. The key to unlocking the potential of this perfect union between predictive analytics and talent management is starting with what you have – regardless of where you think you need to be on the data continuum. There’s no script anyone can write for how HR should be utilizing data. Every organization has to decide why the data they are collecting is important and how the answers they receive will help them improve something or reach an outcome.
It is my belief that talent management is one of the more useful places to start to use analytics. How many more times can your times can you meet to decide what referral sources garner your recruitment team the best candidates? This is a common discussion among recruitment teams that could be easily answered if you can get everyone to focus in on the data surrounding referral sources. If you know what’s working and what is not you can begin to document trends. When you start documenting trends, you can start being more predictive in modeling and forecasting your recruitment efforts against the data you have for referral sources. The same is true for using analytics for retention, development and succession planning.
Here’s a tip:
It doesn’t matter where you start looking within your talent management practices. Choose an area. Decide what you want to measure and then examine it consistently to discover trends. Those trends will help illuminate blindspots and areas of untapped opportunity. Once you know what those areas are, you start to take action. Additionally, your goal is to use the trends you find to forecast and model for the future – instead of operating and/or planning just-in-time.
Predictive Analytics isn’t about taking one giant leap or step. It is about the cascading of knowledge you derive from your data around talent management to make better decisions. Becoming data-driven requires an open mind, consistency, and action.
Listen to my podcast with HCI below to hear what else I had to say about this perfect union of predictive analytics and talent management.
https://www.youtube.com/watch?v=Nyi849ZMHF8
by Janine Nicole Dennis | Nov 5, 2015 | Data and Analytics, Featured, HR Innovation, Society and HR
I was at IBM Insight last week and as per usual it was an awarding experience. There is a shift going on in business and technology that I find both interesting and exciting. It is a shift that is about partnership over competition. Big name technology companies are partnering with new school app developers and tech startups to provide consumers with better products, experiences and customer service.
Image courtesy of IBM.
You may be thinking: “How will this all be done?” The surge of cognitive technology is leading the way in allowing for better insights that allow for a better understanding of people. Cognitive technology allows us to get to the root of people’s behaviors, motivations, needs, and wants. The compilation of this information around these things allows companies to provide a personalized experience and resolution to some of the most pressing human issues.
For instance, we all know the dreaded unexpected breakdown of appliances. They are costly and unwelcomed. Whirlpool is focused on the connecting everything that is important to us through mobile-optimized appliances. This means that you could receive notification telling us that a part in our machines is going and have that information sent back to Whirlpool for troubleshooting.
Image courtesy of IBM.
Box is working with IBM’s Watson Analytics to synthesize the information you house in Box to provide real-time analytics for end users. I know it frustrates me to have unstructured information and data that is either hidden or lost in the systems I use. To be able, to have insights derived from the files you save with Box is a tremendous capability for individuals and business owners.
Courtesy of IBM.
The Internet of Weather
How about all of these catastrophic weather events we’re experiencing? The Weather Company is on the heels of being acquired by IBM for their Internet of Things division. At the conference, they described an app that could be used during hurricanes not only for timely push notifications based on minute-to-minute news surrounding a weather event; but also the app has the ability to function as a flashlight and alarm to alert authorities to people who may be stranded during a catastrophic weather event.
Partnership > Competition
It is interesting to see the market moving in a direction where being competitive means partnering with a competitor to disrupt the market and provide a better product overall. Companies that you wouldn’t dream of seeing on the same billboard let alone working together realize that innovation in a vacuum is no innovation at all. The reality is: Customers want more. Whether it is quality of customer experience or a better product- very few companies are able to upkeep the supply of new, exciting and efficient products. In return, they are collaborating with other businesses or competitors to leverage their respective market strengths and technology to create new or increased value.
Why Should HR Practitioners Care?
With all these new ways of collaborating and doing business, HR needs to be looking at new and creative ways to deploy individuals and teams to get the work done. Additionally, it is a wake up call to all of us to remain aware of the changing business climate. We need to be aware of shifts in business and be prepared to pivot how we serve in our organizations. You can’t be a part of the conversation, if you don’t know what’s going on. It is equivalent to the moments in which a person comes in on the tail end of a conversation and arrives at an incorrect conclusion because they were otherwise occupied or absent from the majority of the conversation. We have a duty to become knowledgeable not only in the practice of Human Resources, but in business, market shifts, changes in customer behaviors and sentiments. It is near impossible to be a true partner to the C-Suite when you don’t know enough to craft a solution.
How do you see these competitive partnerships impacting what we do in HR?
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by Janine Nicole Dennis | Jan 6, 2015 | Business, Data and Analytics, Featured, HR Innovation
Photo Courtesy of Flickr
For at least the past three years, there has been no shortage of articles written about the urgency of businesses and HR adopting a data mindset. Business analysts and experts on this subject have tried everything from threatening the existence of data-ignorant companies to making innumerable cases for why it should be a part of your company fabric. Admittedly, data is important. We cannot just go about our days wishfully doing business without the context behind what is really driving and affecting our operations. When you ask for that new system that costs $500,000 you can’t just tell your boss you need the money- you need to provide a business case for how this new system will exponentially improve an operational segment and/or solve a business problem. The only way I have seen these requests approved is with data.
Now notice I simply refer to “data” and I don’t try to make it out to be this monstrosity that lies far and beyond the average person’s comprehension. My friends this is where analysts and big thinkers are losing the masses.
When we talk about data, data is data to the average practitioner. Moreover, most companies have barely scratched the surface of utilizing simple data to make business decisions- that it is hard for them to comprehend anything bigger. According to Bersin by Deloitte’s Talent Analytics Maturity Model– over 50% of companies are still working at the Reactive- Operational Reporting Level.
Why is the message “buy into the idea of big data” rather than a focus on helping the everyday practitioner or CEO utilize the data they have to make the decisions they need to make? I suppose I’m taking money out of someone’s pocket by saying this, but I don’t get why this concept can’t be explained simply.
Bigger isn’t always better… but the perception of it is scarier.
One of my connections on Twitter mentioned last week that she was both “ fascinated/concerned with big data”for 2015. To which I replied: “big data is a focus on data points that helps us operate in business more efficiently.” My response got me thinking further: shouldn’t all data achieve that result? All data isn’t good, relevant, or useful. Big data will not solve all of our problems, if we don’t first reframe our thinking about the purpose and use of data in business.
To that end, here are some simple thoughts that can assist you with using data in your organization:
- Start simple. What do you want to know about your business that data can shed light on? Start here and start to build out the narrative with data.
- Find purpose. What is the reason this data is important to your business? How will it help you modify or change what you do currently? If you don’t have a specific, actionable purpose for this data- why bother? The data should at a minimum serve as an operational baseline, but it can also be used to identify issues and opportunities.
- Train your people to extract, synthesize, analyze and sensibly utilize data for the optimization of your business. I remember being asked ad nauseum for “Time-To-Fill” reports for my positions at a former employer. Leadership was convinced that aged requisitions over 60 days meant a recruiter was not efficient. They would use these reports to chastise recruiters that weren’t filling jobs within 30 days. While efficiency could have been a contributing factor to this metric, the truth was there were many other variables causing requisitions to age over 60 days (i.e. high requisition volume, hiring manager delays etc.). I provide this short anecdote to show you how a single piece of data was misused based on lack of clarity around its purpose and the inability of leadership to sensibly use the data.
One of the most important things HR can do this year is to become more data savvy.However, take the pressure off yourself of having to be a certified expert in big data. Instead, focus on piecing together the narratives that are most important to your business that way you can tackle the “bigger” and more complex scenarios later.
by Janine Nicole Dennis | Sep 15, 2014 | Business, Featured, Guest Post, HR Innovation, HR Technology, HR Technology Trends and Tips, Recruiting, Recruitment, Talent Acquisition
Only in the last few years has the amount of social data begun to scale, allowing data-driven individuals to begin to search for hiring trends. Within this social data, there are strong indicators of when a top performer is about to “come to market,” or pursue their next career opportunity. As a result, it’ll be the job of tomorrow’s recruiter to figure out how to leverage big data and predictive analytics to find the right candidates when they aren’t yet actively looking.
The majority of recruiters lack the time to gather all public data on each of these professionals. They lack the ability to run multivariate regressions needed to identify the one in 200,000 professionals who are both qualified for and open to a new opportunity. These recruiters will need a tool to do these things for them. Until now, no one’s done a good job of building one.
That’s why we’ve built Entelo. It takes the average recruiter a half-hour to manually collect all available information on just one candidate. Entelo does all this work for you, providing the most comprehensive view of talent available and saving you from hours of research. Entelo Search includes rich profiles of over 30 million candidates, each filled with data from social sites such as Github, Dribbble, Quora, Twitter, and more.
Entelo also uses this wealth of data to help recruiters identify those candidates who are about to change jobs, using our first-of-its-kind More Likely To Move™ filter. Our proprietary algorithm analyzes over 70 variables indicative of upcoming career changes to tell you the right candidate to speak with at the right time. We track everything from layoff announcements and M&A activity to length of time at current company and social profile activity. When a candidate is flagged as More Likely To Move™, they have a 30% likelihood of changing jobs in the next 90 days.
We feel we’ve only scratched the surface of what this data can do to help HR professionals build great teams. We launched Entelo Diversity in April, which helps you find candidates whose social profiles indicate a high probability of meeting specific gender, race or military experience requirements. It’s our hope that this latest element of our algorithm will help companies of all sizes reap the benefits of building strong, diverse teams. Studies show that a more diverse workforce is more creative, more productive and less likely to turn over.
We’d love to show you and your organization how Entelo can help you hit your hiring goals and build a great team. For your free demo of the Entelo platform, visit www.entelo.com/demo.
Author Biography
Kyle Paice runs the Entelo Marketing Team. Previously, he was the Head of Marketing for RentJuice, a real estate software company that was acquired by Zillow. Before RentJuice, Kyle built inbound marketing software as a Product Manager at HubSpot, and consulted to investment banks and other financial services institutions with Deloitte. He has a B.A. in Economics and Political Science from Boston College.
