Posted by Aaron Roach, Sr Consultant and Solutions Architect at Hula Partners
“Alexa, what are my skills?”
Have you ever been freaked out when an ad pops up on your phone that recommends a product or service that you were just thinking or talking about? Do you often wonder if your phone is reading your mind, or rather, listening in on your conversations? You are not alone – In fact, your phone is reading your mind based on the data that you have been providing 24X7 through thing such as Google searches and social media. That information is then used to enable & predict outcomes based on large data sets tracked against your data. Thanks Alexa, Siri, and Google Assistant! Enter the world of Artificial Intelligence and Machine Learning.
Now, what if you were able to use some of this Artificial Intelligence and Machine Learning to predict patterns within your organization to make more informed decisions about your business? Would you do it and what would be some potential use cases?
1. Retention of Key Talent
Machine Learning can use certain data inputs based on Performance/Competence and flag those employees with a predisposed risk of loss. This can give organizations a head start on knowing when and how to retain key talent. The cost of replacing a high potential employee can be over twice the amount to retain. Many times, it could be as simple as providing better career development.
2. Career Planning and Role Predictor
As an end user providing data inputs such as competency assessments, it is important to provide the WIFM (What’s in it for me?) by providing transparency into future job roles and what it will take to get there. This will give the employee more incentive to continue such activities.
3. Prediction of upcoming critical Skills Gaps
Along with the ability to retain key talent and provide career growth, these same data points can help your organization identify and predict gaps in critical skill sets. Imagine the competitive advantage you can gain when armed with the data points to know when and whether to Build, Buy or Borrow talent.
We are only beginning to skim the surface of the future capabilities of a truly predictive competency based talent management system. As you begin to collect more relevant data, you will get better insights into the overall health of your organization and be better equipped to plan future projects to balance your talent supply and demand. Hopefully soon you can ask Alexa, “How is my talent pipeline?”
Your people are your biggest asset, time to get to know them.
Know your workforce.
For more information, please contact me at email@example.com
Share with us on social and subscribe to our blog!