Horsepower Analytics (HCM without Big Data)
The Big Data feeding frenzy continues, as disparate analytics get simultaneously deployed, but not necessarily optimized. Size matters, but leadership recruiting is not like most other vertical markets.
Big Data’s no Big Deal without getting the fit right (like in recruiting). A dispassionate, trend-agnostic assessment of realistic goals before deploying is just as important as thoroughly analyzing a finalist candidate prior to making an offer. Seriously, who benefits from grinding through super-sized databases unless what you process actually moves the needle?!
A Human Capital Management (HCM) component I find financially counter-intuitive is “Talent Analytics”. Please recognize that my view is biased toward the recruiting subset of TA, and expressed in the context of staffing for innovative, burn rate sensitive companies where cash is king.
Most HCM core components leverage massive data retrospection well, but slowly. Some functions though, like the recruiting aspects of TA, require speed; high pressure to source, juxtapose and hire quickly. It’s like street fighting versus planning a battle; you think and act in real-time, or get your butt kicked!
In an earlier post I compared recruitment best practices to financial portfolio management. As regards TA, I see another useful stock market analogy. Same reason – need to track talent closely (like a watch list of stocks), and act in near real-time to optimize recruiting opportunities when the signal flashes.
I call it “Horsepower Analytics” – similar to using the Relative Strength Index (RSI) where you track price momentum to determine overbought/oversold zones and strength of movement – the difference is that you’re tracking leadership talent, not equities. You concentrate on quantifiable momentum, not details of a candidate’s early career, or where they went to college… you target when, and how far they’ve moved the needle in recent years, focusing on demonstrable horsepower, not decades old conventional hiring metrics.
Imagine that… Analytics without Big Data, and you don’t even have to buy fancy new software! As I said in “Staffing Arbitrage”, it’s all about thinking out of the box, leveraging specialization, and acting decisively.