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Talentship and the new paradigm for human resource management
From Professional practices to strategic talent decision science-John W. Boudreau and Peter M. Ramstad
Thiyagarajan (27055)Dina Michele (27069)
Ishwarya N (27064)Vishnu Priya (27120)
Organizational strategic success
People
Intellectual Capital
Talent Organizational strategic success
Competitive
success and
shareholder value
Finance
Marketing
Operations
HR
Where lies the problem??
Excuse: - Need better metrics
What should be the goal of HR measurement?To enhance decisions about human capitalTo connect human resources to strategy
HR measurement not the solution
Then what is the solution?
Evolution of Decision Sciences
Professional Practice How organizations operate in the market
Decision scienceSupports analysis and deployment within that market
Professional practice must precede the decision science
The Three Markets
Accounting
Finance
SalesMarketi
ng
HRTalentsh
ipOrganizational Success
Decision science
Provides a logical, reliable and consistent framework that enhances decisions about a key resource
Does not rigidly prescribe actions
Example - Finance: Du Pont Model - Marketing: Customer segmentation
Value lies outside the circle
Value of decision science is often outside the professional function
E.g. ROI
Teachable point of view Finance Marketing Human Resources ?
Decision Science
ProfessionalFunctional
Decision science - Talentship
Goal – To increase the success of the organization by improving decisions that impact or depend on talent resources
As talentship evolves, so do the quality of talent decisions
Leaders making decisions with out considering the talent implications
The greatest opportunity to improve talent decisions lies outside of the HR profession
Other HR Frameworks
Salary Grades
Used during decision making about Head count planning, budgeting, merit pay etc
control system rather than decision support system
Lack of decision science creates a greater need for control systems.
Teaching Not Telling
HR – not influential in the strategy and business making process
Need talent-focused perspective for improving decisions
Improving decisions require teaching rather than telling
Finance and marketing has logical framework for decision making where HR hasn’t
A Point of ViewTeaching requires shared point of view
(common language and structure). Eg: EVA,ROIC in finance
Provide a logical starting point
A talent decision science contributes consistency to strategic logic – how it is learned and used.
A logical point of view provides consistent script for dialogue between talent and strategy.
Elements of a Talentship point of view
Impact“How much will strategic success increase by improving the quality or availability of a particular talent pool?”
Effectiveness“How much do HR programs and processes affect the capacity and actions of employees in each talent pool?”
Efficiency“How much HR programs and process activity do we get for our investments (time, money etc.) in HR programs, practices and functions?”
The Decision Framework Applied
Impact Couriers/dispatchers Vs Pilots
Effectiveness
Efficiency Spend more to get right couriers and dispatchers
Capability Opportunity Motivation
Talentship in action
Not just decision science, But integration with ongoing processes
Not To Rationalize after decisions, But to effect the decision making.
Embed within processes of HR