Post on 02-Nov-2014
description
Embracing Technology to HelpAttract, Develop & Retain Talent
Mike FadelPrincipal Sales Consultant - HCM
Sourcing &Retaining
Talent
RegulatoryCompliance GLOBALIZATIONGLOBALIZATION
WorkforceVisibility
Growth,Productivity& Profit
OrganizationalStructure
HR Support
Culture &Diversity
WorkforceMobility
Economy
HR Challenges Today Are Broad and Diverse
Communications
Tough Questions from the CEO• Where are there skill gaps in our organization?• How are we going to replace retirees in “n years”?• How can we more effectively leverage our existing
talent?• What can we do to effectively boost employee
morale?• How does our compensation compare with other
industries?• What kind of recruitment programs lead to hiring
the right employees?• How well are employee goals aligned with
organizational objectives?• How do our talent initiatives impact the
organization’s key performance indicators?• What kinds of employees will lead to better
customer satisfaction or sales results?
• Do we have a workforce plan tocommunicate financial consequences oftalent decisions on our business?• Turnover? How much is it costing incustomers? In productivity? In innovation? Inquality?
Why Talent Matters: Value and Money
Metric Value MeasurementValue of Top Performers Two, three times even 12 times the performance of
average employees (Ulrich and Smallwood)
Cost of Losing Talent 1 ½ times burdened salary (Various sources)
Cost of Poor Hire $300K average impact in knowledge-economy firm(Sullivan)
Impact of “bad fit” executive hires 40% fail within the first 18 months (Charan)
Cost per Day $7000 average per day for operating without a keyplayer (Sullivan)
A typical organization with 10,000 employees
And revenue of $2.0B per year, results in potential benefits of
Avoid staff replacement costs $4.5M over a 5 year period
Improved HR staff productivity $3.0M over a 5 year period
Reduced training travel, facility, andinstructor costs $7.0M over a 5 year period
Reduced print/copy/mail fees $0.3M over a 5 year period
Resulting in savings of $14.8M with Learning & Performance
Engage and Develop the Workforce
• Engage workers and reduce turnover by 10%
• Reduce training facility, travel & instructorcosts by 15-30%
• Reduce related Print, Copy and Mailing feesby 33%
Source: CedarCrestone (available at www.cedarcrestone.com/research)
Companies using Learning &Performance systems can
reduce admin support by 30%,improve overall productivity,
and cut a wide variety of costs-- CedarCrestone
Quantitative Results Achievedfrom Workforce Technologies -- Worldwide
Category Results ApplicationsHeadcount 4% average reduction Self service
Service center
ROI 3 to 4 years21 months29 months
HRMSEmployee self serviceManager self service
Transaction time 32% average reduction Compensation managementRecruiting solution
Performance management
Cycle time 62% average reduction Open enrollmentCompensation managementPerformance management
Time to hire 40% average reduction Recruiting solution
Service center inquiries 26% reduction Self serviceService center
Source: CedarCrestone 2007/2008 HR Systems Survey
Savings from Process Innovation & Automation
Source: CedarCrestone ROI Studies
PROFILES
Cost Savings With Integrated ApplicationsPoint Solutions – Direct Costs
• Initial Cost of Data Integration& Application Product Interface
• Maintaining Data Integration &Application Product Interface
• Common Security Model• Additional HR Helpdesk &
User Training• Internal HRIT Labor Costs
Supporting Integration andReporting
• Initial Cost of SoftwareLicense, and ongoing VendorMaintenance and SupportCosts
Talent PrioritiesExecutives Place Importance Across the Gamut of Talent
Source: IDC's Survey of HR Executives, March 2013
How Can Technology Help?
Talent Acquisition• Internal mobility and stretch assignments• Find the best external candidates• Social sourcing
Learning Management • Create in-context development plans / Specialized curricula• Re-skill top people for new opportunities
Performance & Goal Management
• Talent Profile with skill and competency tracking• Historical performance and potential ratings• Assess performance and course correct• Align Talent to Business needs
Talent Review & Succession Mgmt• High potential pools• Consistent tracking of internal and external talent
Compensation Management • Easily differentiate pay for top talent• Instant tie to performance management
EMPLOYEE ENGAGEMENT
Talent Engagement
SimpleSocialMobileInsight
Trends Driving the Future of HCM
• Comprehensive HCM and Talent Management• Cloud and Mobile Delivery
ACCELERATE HCM• Social HCM• Real-Time Insight• Predictive Analytics
SELF-ENABLED
Empower users to easily andconveniently serve themselves
SOCIAL
Integrated social networkingcapabilities with anytime, anywhere
access
PERSONALIZED
Offer a personalized & relevantexperience across the enterprise
Social Media and Mobility: Game Changers
Access on any device
The Power of Social NetworksOrganizational
Chart
Source: Adapted from The Hidden Power of Social Networks, Robert Cross & Andrew Parker, 2004
Senior VPJones
ExplorationWilliams
Cohen
Smith
Hughes
Cole
Hussain
Kelly
DrillingTaylor
Sen
Moore
Miller
ProductionGupta
Shapiro
Rodriguez
Bell
Rodriguez
“How Work Gets Done”Network
Cole Jones
Shapiro Paine
Stock
Cohen
KellyWilliams
Andrews
Hussain
Sen
BellMoore
Miller
Leverage Social- Enabled HR Processes
Social TalentAnalysis &
Development
Social TalentAcquisition
SocialPerformanceManagement
Social Learning& Skill
Development
Drive innovationthroughcollaboration inan open andtransparent way
Connect withworkers andexpand workrelationships
Give kudos topeers and followtheir professionalprogress
Find jobcandidates andcareeropportunities
Find expertiseand shareknowledge to bemore productive
Engage Workers with Social Technology
Social Software Benefits
The rise of the networked enterprise: Web 2.0 finds its payday, McKinsey Quarterly
Intelligence =Talent Insight
Mountains of Data but Little Insight Personal
– Financial (earnings or benefits compared with others or comparedwith benchmarks)
– Prejudice (age, ethnic, gender, disability)
– Life events (marriage, death of employee or close relative,pregnancy of employee of partner, birth of dependent, housemove, divorce, ill health, surgery)
– Performance (drastic improvement or otherwise)
– Not valued
– Amount of time in previous jobs both in this enterprise and others
– Training issue
– Length of service
– Personal growth (ambition)
– Skill or competency (lack of or over skilled for the job)
– Under or over achieving
– Stock price (personal holding)
– Time (travel, normal hours, overtime)
– Promotion rate (past, future prospects)
– Too long in a particular job, position, grade, organization, etc
– Workload (too heavy, too light)
– Absence record
– Work permit issues
– Expectations (too many being placed on employee, expectationsnot met, employee not meeting expectations)
– End of contract
– Issue with suppliers or customers
– Enterprise originated assignment to another physical location orto another organization
– Criminal offence or imprisonment
– Retirement
– Boredom or lack of challenge
Interpersonal
– Issue with supervisor (competency, confidence in employee,involvement with employee, …)
– Issue with peer
– Issue with subordinate
– Disciplinary action or proceedings
– Enterprise
– Ethos, culture or vision issues
– Stability (financial)
– Redundancy record
– Safety record (e.g. engineering)
– Attitude to time keeping, dress, home working
– Attitude to employee well being
Financial
– Business condition (industry competition)
– Restructuring or merger
– Redundancy (workforce is greater than the demand in terms ofbudgeted workforce of that required by projects)
Barriers to Adoption ofWorkforce Analytics
22%
19%
15%
15%
11%
7%
7% 4%
Lack of understanding of HRmeasurementOrganizational "silos" which blockeffective data sharingLack of tool and technology
Lack of meaningful metrics
Unavailability of financial andoperational performance dataUnavailability of workforce data
Poor data quality
Lack of executive championshipSource: HCM Strategy Council Survey 2007
How do you know if...
Your people are at risk toleave? A worker will perform as
expected? You have the right skills for
your team? A worker is underpaid?
Who Do I Have? What Do I Need…
Unified mobileexperience on tablets
and phones
Access Information Anytime, Anywhere
26
Meet John, Line of Business Manager
“I manage a lot of people and am asked tomake a lot of decisions.
But I don’t know if my day to day decisionsare right – let alone what will happen withmy employees tomorrow.”
27
Why Is John Struggling?
Has no insight
Deals with growingworkforce
Faces attrition
Cannot take actions
Why Is John Frustrated ?
Meet Sarah – Compensation Manager
“I’m in the middle of developing next year’scomp plan and I just can’t get theinformation I need.
If I had the right kind of data, I could besure my plan was in line with our overallbusiness goals.”
Meet Dawn, Compensation Manager
Comp Responsibility
No insight intobusiness goals
Missing useful data
Information inmultiple systems
Why Is Sarah Frustrated ?
Meet Robert – HR Systems Manager
“I’m getting complaints because worktakes so long to do with our HRsystem.
I need to be innovative to stay in linewith the business and keep everyoneengaged, but IT just isn’t able to help.”
Unhappy users
IT resourcestoo limited
Can’t innovate
Integration expensesrunning high
Why Is Robert Frustrated ?
SaaS is Hot
1. Improved User Experience2. Best Practice Functionality3. Reduced need for Internal Infrastructure4. Faster time to Implement and Value5. Reduced TCO6. Predictable ongoing Costs
Reasons for moving:
Source: CedarCrestone 2012–2013 HR Systems Survey
Oracle HCM Cloud ServiceA complete strategy for Modern Enterprise HCM
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Copyright © 2013, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted35