Issue link: https://www.e-digitaleditions.com/i/330423
[ 41 ] JUNE 2014 | www.hrotoday.com Market Insight decision-making at every level in the organization," notes Marks. "Our survey results confirmed that rigorous data analysis is key to creating workforce strategies that help organizations achieve their top business priorities." With 72 percent of leaders rating their use of data and analytics to drive workforce strategy as very effective, these top performers were 12 times more likely to choose that top rating than laggards (6 percent), and 3.6 times more likely than mainstreamers (20 percent). The rigor this question implies is also reflected in the next three key findings, which involve quantifiable measures of workforce quality, impact, and management (through segmentation). This appears to be a natural progression: The more value an organization places on assessing the quality of its in-house talent and the impact of its workforce on the business, the more likely it is to invest in the methodologies and expertise it needs to collect data and undertake a sophisticated analysis of its talent pool. In fact, it probably helps explain why survey results on the adoption of technologies showed relatively little differentiation between the high-performers and everyone else. The technologies are generally well adopted, and perhaps viewed as "table stakes." It is the data-oriented approach and rigor that an organization brings to its use of these technologies that makes the difference. 3. Using sophisticated metrics to measure workforce quality. Devising effective workforce talent strategies begins with benchmarking your starting point—and today's continuously evolving strategies require regular benchmarking measurement. The study's leaders are nearly nine times more likely than laggards to use sophisticated metrics to measure the quality of their workforce (43 percent versus 5 percent). "The use of sophisticated metrics has a significant impact because of their diagnostic value. If an organization doesn't have visibility into the results of its practices, it is difficult to find the source of pains and remedy them," Marks comments. "Clear metrics, compared to your own and industry benchmarks, are the only way to benefit from truly fact-based decisions." 16 LEADERS ARE MORE CONFIDENT IN THEIR FUTURE, AND FEEL BETTER PREPARED FOR 2020 With their strong emphasis on talent development, Leaders are more prone to developing forward-looking workforce strategies. Consequently, they are far more confident in the future. 71% of Leaders rate their workforce strategies as excellent in terms of supporting their organization's objectives for the next three years, compared with 23% of Mainstreamers and only 6% of Laggards. Similarly, 69% of Leaders (but only 7% of Laggards) believe their organizations are "very prepared" to adapt to the changing demands of the 2020 workforce, including changing needs, wants and engagement tactics for a whole new generation of workers. How prepared is your organization to adapt to the changing demands of the workforce that will be present in the year 2020 (i.e. the change in needs, wants and engagement tactics for a new generation in the workforce)? VERY PREPARED 69% 19% 7% 27% PREPARED 24% 58% 31% 44% NEUTRAL/UNSURE 5% 21% 50% 25% VERY UNPREPARED 0% 1% 3% 1% UNPREPARED 2% 2% 9% 3% DETAILED FINDINGS Mainstreamers Leaders Overall Laggards Source: 2014 Cielo's Talent Activation Index