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