An unprecedented number of tools are available to HR departments. Yet despite all that technological sophistication, there’s still a long way to go in transforming the company of today into the kind of high performing, highly adaptable and smart organization needed for the future.
1. Logic-driven analytics: Define talent metrics and scorecards to measure the impact of talent management investments on business performance.
2. Optimization: Invest selectively in areas that can make the biggest difference, such as pivotal talent segments where a small targeted investment will create an outsized return.
3. Segmentation: Take a cue from marketing: Create a differentiated approach to different talent segments within the workforce.
4. Risk leverage: Understand the spectrum of human capital risk. HR leaders need to develop a more sophisticated approach to risk management, ie being able to differentiate between good and bad risk.
5. Integration and synergy: Take an integrated view across talent management programs, functions and organizations. In some cases, individual HR programs are good, but the overall function is underperforming.