Talent Optimization: How Data Inspires Innovation
Putting a team of individuals together that can perform at a level exceeding “high functioning” is not without its challenges. In situations where this does happen, it’s sometimes a result of building the team around a specific objective, perhaps even hiring new people to fill these roles, which means talent optimization takes on a whole new meaning.
Hiring new talent is not something most companies are going to look forward to, given the difficulties hiring new people can present. Not only is it a long and tedious process but the pool of qualified candidates is far thinner today than ever. The labor market is tight, so it makes sense to think of talent optimization in more efficient terms.
Insights Through Data Analytics
“People data” is a key focus today, and for a good reason – when you know what to look for and how to analyze it, you get results. Also referred to as “people analytics,” the goal is to analyze the various attributes of your organization and how people make it what it is. For example, what’s your retention rate? What does it cost to replace employees? What reasons are they giving you for leaving? Do they feel valued by your organization and their immediate supervisors? Do they feel like an integral part of the team?
When you begin answering these questions, you come away with information that can help you decipher what’s going on within your teams and how you can make changes that improve morale, which in turn improves productivity and your retention rate.
People will move on, regardless of how good a fit they are at your workplace – it could be retirement, moving with a spouse or simply taking someone up on a better offer elsewhere. When you’re looking to fill an open position, you must rewrite the job description, especially if it has been a year or more since it has been addressed. The role a person plays in a position will evolve over time, and even the slightest adjustment can require taking a new look at how you have described the position in your job listing.
The clearer you are in your description, the better applicants you’re going to get. The risk of running with the same description year after year is that you’re going to attract the wrong applicants and possibly hire the wrong person, which results in higher turnover. Don’t make that mistake. Take the time to re-evaluate what the job entails and represent it accurately in your outreach.
At PI Consulting Group, we’re aware that most companies aren’t equipped with the knowledge they need to assemble high-performing teams. By using the tools we offer, you can boost your talent optimization strategy to new levels. We help you uncover the root of your problems and measure your people data. We can help you design a new strategy for hiring the right people and developing talent. Finally, our solutions give you the tools to inspire your teams and reach your goals faster.
Contact us and let’s discuss our methods and how they are scientifically proven to work with any industry, including yours.