Transcript Slide 1
Strategic Workforce Planning The Science of Human Capital and Behavioral Analytics Mike Neal www.PredictiveResults.com 813-390-2625 [email protected] Three Key Areas Recruit Success Develop Retain 2 The Looming Talent Shortage 1/3 of companies are struggling to attract the talent they need to drive long term results. 35% of employers worldwide are struggling with staffing shortages… Average job tenure for workers 25-35 years old is just 3 years 3 We don’t know, what we don’t know 4 6 The Secret to Success WHAT DRIVES EXCEPTIONAL PERFORMANCE? Will Do Knowledge Can Do Skills Behavior Why a Behavioral Assessment? The Rise of Assessments 9 •Open Choice •Depth •EEOC Compliant •Validation Studies •Benchmarking •Objective comparison to job Industrial Psychology • Forced Choice • Categories • Reliability Human Capital Teambuilding Types of Assessments • Scientist/ Practitioner Model • Consultancy PI Worldwide Member Firm • 60 Year Old Privately Held Analytic Company • 8800 Clients • 90% Client Retention • Fully validated and meets all EEOC requirements • Over 2 Million assessments completed annually • 55,000 Executives/Managers trained in PI • 70 languages, including Braille • Job Analysis, Analytics and Validity Studies • Knowledge Transfer Who Uses PI? What we measure The FOUR Factors/Behaviors DOMINANCE Agreeable Obliging Modest Humble Unselfish Independent Resolute Assertive Supportive Self-starter Challenging Controlling EXTROVERSION Reclusive Private Reserved Quiet Unpretentious Sincere Sociable Enthusiastic Expressive Gregarious Talkative Animated PATIENCE Impulsive Rushed Intense Fast-paced Quick Ready Calm Stable Deliberate Unhurried Habitual Mellow FORMALITY Unstructured Spontaneous Carefree Unfussy Casual Flexible Thorough Serious Precise Cautious Strict Conforming Summary of Behaviors Factor LOW Dominance A Unselfish Accommodating Extroversion B Reserved Thoughtful Patience C Sense of Urgency Formality D Uninhibited Informal HIGH Self-Confident Independent Empathetic Understanding People Patient Consistent Conscientious By The Book Summary of Motivating Needs LOW Factor A • Encouragement, reassurance • Harmony (rather than friction) • Understanding supervision HIGH • Independence • Recognition for own ideas • Control of own activities/work • Opportunity B for introspection • Recognition for technical/intellectual accomplishments • Freedom from office politics C • Variety D • Social interaction • Social acceptance/recognition • Symbols of prestige, status • Long-term • Change of pace • Mobility affiliation • Stable work environment • Familiar surroundings/people/work • Freedom • Certainty from rigid structure • Freedom of expression • Opportunity to delegate details – understanding the rules • Specific knowledge of job • Freedom from risk of error 16 Keys To Success Define Ideal Talent Profile • Job Description • Behavior Match Find & Identify Those Who Fit • Resume • Reference • Assessment Lead & Manage Effectively • Training • Individual Insight Data Drives Results PRO Analytics Studies Target Pattern Who Fits PRO Identifies the preferred behavioral characteristics for every position Predictive Index Identifies the behavioral characteristics of employees and candidates PRO for a CPA • • • • Self-starter, self-motivator, initiative Results-oriented Analytical, critical, creative thinking Delegates details more than authority, tight with both • Control, tough on people, hard push for exacting results • High standards, high quality work, expert Cut Recruiting Cost Resume/ References Faster, More Accurate, Selection Behavioral Assessmen t 30-50% Reduction In Recruiting Costs Poor Talent Is Expensive Performance •Top people outperform bottom by up to 500% Turnover • Cost 50-200% of base salary •$42,979 average US Salary Safety • Accidents cost $174,800 per 100 employees PredictiveResults.com Retention is Critical Once You Get Great People, Can You Keep Them? PredictiveResults.com The Two Causes of Turnover Secondary Cause: Putting the right people under managers who don’t understand them. Primary Cause: Putting the wrong people in the job. Managing Your Mix Analyzing Your Team Good Data Drives Better Decisions Benefits of Group Analytics Define and predict high performance Facilitate Workflow Reduce Conflict Improve group synergy 27 Identify and Develop Leaders and Managers • Identify leaders – Who fit corporate needs and culture • Highlight coaching needs – Build leaders before you need them • Identify motivations and drives – Individual understanding builds success Building Strategic Culture At All Levels Senior Management Strength Assessment Executive Succession Planning Managers Coaching/Motivation Middle Management Interviewing Recruiters Selection Front Line Vendor Comparison Checklist Applications to entire employee lifecycle Experience in your industry Objective study of job (plus benchmarking) Number of Validity Studies Inclusive Model of Use Simplicity and Practicality Group Analytics Interview Guides Coaching Guides Knowledge Transfer Technology Cost ROI and Guarantee 30 Conclusion Strategic workforce planning is an important strategy to: • Recruit • Develop • Retain 31 Q&A 32 How to Attract, Hire and Retain the Best People Mike Neal www.PredictiveResults.com 813-390-2625 [email protected] A Sampling of Clients