Talent Assessment – “61% of my rating of you is a reflection of me.”
Just about 4 years ago, I described (Play)Joyce as an “HR chick.” One of the fundamental job requirements is the “(H)uman” in HR, so like the mailman (there’s some irony… Joyce’s dad was a mail carrier after WWII), “Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds.” Regardless of the weather, she gets to work. Last week Joyce completed the last of several 9-box calibration meetings with the organizations she supports.
We perform similar “talent assessments” at Kronos, and they seem to be effective at comparing teams objectively, plus finding, rewarding, and developing top performers. But is it really? This morning as I stumbled around the snowy maze (yes, even the web got snow here), this Harvard Business Review article by rulebreaker and strengthfinder Marcus Buckingham found me to proclaim “The research record reveals that neither you nor any of your peers are reliable raters of anyone,” and that “when I rate you, on anything, my rating reveals to the world far more about me than it does about you.”
Maybe solving challenges like this is why there are so many startups entering the field of HR technology. Further research found this awesome (no, really… It’s freakin’ awesome) Slideshare deck by Josh Bersin, Ten Disruptions in HR Technology for 2015: Ignore At Your Peril. One of the 10 disruptions is “people analytics,” and includes the statement that of organizations that “regularly use data to make talent and HR strategy decisions,” generated 30% higher stock returns than the S&P 500 over the past 3 years! That’s value.
Analytics. Analytics about your people. Analytics about your workforce. For a deeper dive into the “people analytics” thing, here’s another column by Mr. Bersin in Forbes titled, The Geeks Arrive In HR: People Analytics Is Here. And… You knew this was coming… For a deeper dive into the workforce analytics solutions in our Kronos product suites, check out the analytics capabilities in Workforce Central and our small to mid-sized business (SMB) focused Workforce Ready.