Talent Management - September 2008 - (Page 26)

Figure 1: HR Organizations’ Use of Metrics Does your organization currently Collect metrics that measure the business impact of HR programs and processes? T uesday, Sept. 9, 2008 • 11AM PT/2PM ET Yes (%) 30.3 39.4 Use dashboards or scorecards to evaluate HR’s performance? Have metrics and analytics that reflect the effects of HR programs on the workforce (competence, motivation, attitudes, behaviors, etc.)? Have the capability to conduct cost-benefit analyses of HR programs? Measure the financial efficiency of HR operations (cost-per-hire, time-to-fill, training costs)? Collect metrics that measure the cost of providing HR services? utilization. Thus, research evidence supports the argument that when an organization looks to human capital assets as a source of competitive advantage, it is more likely to give HR a major role in strategy. The study also showed most HR organizations do not have the metrics and analytic capabilities needed to be strategic partners. Figure 1 reinforces this point: Less than half of HR departments have metrics and analytics to assess and improve their operations and programs. When it comes to strategy formulation and implementation, data speaks loudly. HC-centric organizations cannot have HR functions that cannot speak as loudly as marketing, ﬁnance and other functions. When an organization’s competitive advantage depends on its talent performing at a superior level, it needs facts about what works and what doesn’t. The implications for assessing the performance of HR are clear. HR needs to be evaluated based on the quality of the metrics and analytics it creates and utilizes. HR also needs to be assessed on how much it understands the business strategy and contributes to its formulation and implementation. Often the best way to gather data on this is by getting ratings from senior executives. HR staff needs to understand the business and have evidence-based knowledge of what constitutes good human capital management. HR T alent Management Experience Series: Part 3 — The Employee’s Experience In collaboration with Talent Management magazine and Bersin & Associates, Cornerstone OnDemand presents the “Talent Management Experience Series.” Leighanne Levensaler of Bersin & Associates wraps up the series by addressing talent management initiatives from the perspective of employees. Wednesday, Sept. 17, 2008 • 11AM PT/2PM ET 29.3 28.3 47.5 41 How to Engage, Embrace and Acquire T T op alent Economic uncertainty places tremendous pressure on organizations to do more with less, and in HR, every hiring mistake exacts significant cost. However, the flood of talented candidates provides an opportunity for organizations to grow. Most critical is getting and keeping the attention of “receptive candidates.” Then you must sustain their interest throughout screening and assessment. Learn more in this Talent Management magazine webinar, sponsored by Cisco WebEx. T uesday, Sept. 30, 2008 • 11AM PT/2PM ET should provide the rest of the organization with a clear example of how performance standards should be set and appraised. It needs metrics that reﬂect the condition of an organization’s human capital, as well as the organization’s ability to execute a variety of strategies. It needs to do analytic work to show how speciﬁc organization designs and human capital management policies, practices and structures affect ﬁnancial performance. To operate in HC-centric organizations HR needs to: • Handle the transaction or administrative side of its responsibilities effectively. • Have an active role in the establishment and implementation of business strategy. • Support its business strategy recommendations with the appropriate metrics and analytics. • Be staffed with individuals who have deep expertise in HR functions and understand the relationship between HR and business effectiveness. • Regularly and stringently assess talent to be sure employees have the right knowledge and perform at a high level. Edward E. Lawler III is a professor of business and director of the Center for Effective Organizations at the Marshall School of Business at the University of Southern California. He can be reached at editor@talentmgt.com. Human Capital Investments: Going Beyond Fluff to Invest in People Many organizations say “people are our most important asset” but understand little about what it means to nurture and develop them. This session will explore how organizations can create a strategy for developing, measuring and improving their human capital initiatives. Join Steve Farner, associate professor and director of Bellevue University’s masters and Ph.D. programs in human capital management, in this Talent Management magazine webinar, sponsored by Bellevue University. T register, go to o www.talentmgt.com/events. Now featuring “Quick Register” for returning attendees. Powered by http://www.talentmgt.com/events

Table of Contents Feed for the Digital Edition of Talent Management - September 2008

Talent Management - September 2008 Editor's Letter Contents Human Performance: Stop Wasting Money on Training Leading Edge: No Whining, No Excuses Learning Connections: Do You Get It? The Untapped Resource Reinventing HR Doing Compensation Right: The Winning Spread Managing Performance in the Knowledge and Innovation Worker Age Stop-The-Clock Time Management Preparing for the Future in the Public Sector SAS: Connecting People, Process and Products Talent Transformation at Textron The Price of Finding the Right Gen Y Candidate Advertiser's Index Editorial Resources Full Potential: Do What You Love, Love What You Do

Talent Management - September 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.