The digital transformation of the talent and talent strategy will be the way to cope with the commanding heights of the competition in the new era.
In recent years, the core concerns of the highest level of the company have undergone significant changes and changes.
A decade ago, management focused more on creating top-line, such as how to expand into new markets? How to quickly double the revenue? Is there an acquisition transaction? Whether it is listed or not. However, in recent years, we have clearly observed that the above-mentioned demand for extensive staking is no longer the mainstream, but shifts to how to achieve lean and precise management of cost reduction and efficiency.
This top-down transformation forces companies to achieve self-innovation and reinvention. For HR, maximizing human capital efficiency and improving talent data analysis capabilities will be imminent, that is, the digital transformation of talent and talent strategy will be the way to cope with the commanding heights of the new era.
The motivation behind the transition: companies face multiple challenges
(1)The difficulty of “enterprise talent strategy landing”: I believe that most companies have business development strategies, but having a clear, feasible and forward-looking human resource strategy is not so common, but also a bigger challenge. It is how to turn the macro abstract talent strategy into a strategy and action that can be achieved.
The difficulty lies in the need to achieve accurate talent planning and forecasting, efficient talent identification and sourcing, adaptive talent model building, forward-looking competitor research, and efficient coordination of different departments to build agile Organization and so on. These pain points make it difficult for most companies’ talent strategies to really land or cause transformation projects to fail.
(2) The difficulty of “enhanced human capital efficiency”: The direct requirement of lean management for HR is how to develop data-based human resource planning, how to improve the talent analysis (PA) ability and how to maximize human resources. Capital efficiency.
Global management guru Ram Charan puts forward the “Golden Triangle” theory in his new book “Talent Wins”, in which the CEO needs to build a “golden triangle” with CFOs and CHROs in the digital age. “To jointly lead the transformation and transformation of the organization, so that human capital is placed on the same level as financial capital.” Among them, CHRO’s core human capital decision-making is the talent insight and decision-making based on big data.
(3) The difficulty of “reconstruction of HR management value orientation”: Based on the requirements of talent strategy and human capital efficiency improvement, the value orientation of enterprise human resource managers will also be from the functionality of traditional personnel administration. Management moves to “change agents” and “business strategy partners” to actively understand the company’s specific business and development direction, participate in the main process, and provide the necessary recommendations for high-level strategic decision-making.
In today’s business environment, the three core difficulties mentioned above are caused by macroeconomic instability, the rise and spread of emerging technologies, and the requirements of a lean management model.
Therefore, the corresponding talent management and decision-making must also enter the lean era, and the digitization of talent and talent strategy will be imperative. Talents will also truly change from cost to capital. We can imagine that at every critical decision-making moment, the top management of the company will receive the corresponding “digital statements” from the human resources department on talents and organizations. The digital transformation of resources will truly open a new chapter and enter a new era.
The solution to the challenge
(1) Concept refresh: As mentioned above, HR’s new value orientation should be “change facilitator” and “business strategy partner”, which requires practitioners to refresh their own understanding and thinking from top to bottom. The problem and the solution to the problem, that is, in the digital age, human resources management should always focus on: “forward” – forward-looking talent strategy and key talent management planning, “upward” – providing HR for strategic transformation and organizational capacity building The overall idea and feasible solution of the angle, “toward the deep” – deepen and improve the underlying infrastructure such as HR management mechanisms, processes and tools.
The above-mentioned “three directions” is what we call the core requirements of digital thinking and ability.
But it must be acknowledged that the digitalization process of talent management or the cultivation of digital thinking and capacity building cannot be achieved overnight. If you want to maximize the role and effectiveness of data in talent management and business decision-making, you should also pay attention to the following: Three points: Decisions should be based on data and insights (rather than brains); application data to judge trends (not just focus on internals, summarizing the status quo); insights need to support and guide business (rather than assistive, lagging participation in business processes) ).
(2) Basic foundation: whether it is for the highest decision-making level of the enterprise or ordinary practitionersThe importance of the data itself does not need to be overstated. Enterprises are also trying to acquire data in multiple dimensions. There are two common practices. One is to collect and organize it by means of the internal strength of the company. This is more of an inventory of its own data; The other is to buy data reports from consulting firms or research companies in external markets to gain external insights.
But according to the LinkedIn 2018 Recruitment Trends Report, 42% of respondents believe that the quality of existing data collection is too bad, 20% believe that the source of data is too singular, and 14% believe that the availability of data is not Strong.
The results of this group of surveys typically reflect the bottlenecks and pain points of most companies currently using data. The data itself is the first step and the most solid foundation for the enterprise to achieve digital transformation. If the data itself is of poor quality and the availability is not strong, it is difficult to imagine making informed decisions based on this.
(3) Resilience: First, share a very interesting observation. LinkedIn’s Big Data Insight (LTI) analyzes the fastest growing skills of CHRO/HRVP in the past year. Four of the top ten relate to Business-related strategic perspectives and related skills in human capital analysis. With the development and popularity of new technologies, we have reason to believe that this trend will continue to deepen.
It can be seen that human resource practitioners have begun to cultivate their own talent data analysis capabilities from the top down. This is a field that traditional capacity models rarely cover, so according to LinkedIn research and observation, in the new In the era, HR needs to rebuild its own and organizational competency models.
is embodied in three dimensions: Business and Strategic Thinking, Data Analytics, and HR Domain. With these three skills, we can use the big data analysis method to deal with HR problems, promote enterprise transformation and enhance self-value positioning.
The business and strategic thinking requires HR to have a front-end business insight, familiar with how to make assumptions, interpret data into actionable insights, make recommendations, etc.;