Sector News

A data-driven approach to identifying — and retaining — top employees

May 16, 2021
Sustainability

The so-called “war for talent,” bandied about in the media since it was coined by McKinsey & Company in 1997, is taking on a whole new meaning post-Covid. The competition to find and retain talent has only been exacerbated as workplaces have moved to virtual and hybrid configurations, held tenuously together by remote collaboration. The expansion beyond brick-and-mortar operations essentially nullifies many former practices for identifying and nurturing talent, and “management by walking around” just doesn’t work anymore.

At the same time, mountains of new data are suddenly available to help companies answer key questions about their workforce and its needs. The rise of digital collaboration platforms and new methods for harvesting data, along with new technologies and novel approaches for finding and managing talent, are redefining how companies will build their workforces going forward.

As an information management company with expertise in big data, we often find ourselves implementing new approaches to identify talent for more innovative organizations. And as a CEO in constant search for talent, I’ve seen firsthand how data can elevate a company’s hiring practices beyond the typical “intuition-based approach” to an evidence-based decision using meaningful but easy-to-miss indicators. In the spirit of illuminating the path ahead, I’ve compiled some of our key insights into this new paradigm. READ MORE

by Kon Leong

Source: hbr.org

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