A Norman Broadbent Group Breakfast Briefing
‘Maximising ROI Through People: HR Analytics’
with
Keith McNulty
Global Director, People Analytics and Measurement
McKinsey & Company
Norman Broadbent Group and Calimere Point were delighted to welcome clients and guests to an enlightening and incisive presentation from Keith McNulty – people analytics expert and LinkedIn Top Voice of 2017.
Keith trained as a pure mathematician before pioneering people metrics within McKinsey. Now part-organisational psychologist and part data-scientist with deep knowledge of Artificial Intelligence, he is uniquely placed as a Human Capital Leader and forecaster of workplace trends.
As the world of HR undergoes seismic changes, he highlighted the critical role of data-driven decision-making in maximising talent and business potential. Keith’s key insights included:
- Automation is creating unprecedented disruption. Already, 50 per cent of current work activities are automatable and we are only just at the beginning of the revolution. By 2030, automation will have displaced between 15 and 30 per cent of total global work.
- How companies manage their talent in the next 50 years will become the main differentiator of high-performing organisations.
- HR is going to have a predominant role to play, but it needs to up its game. We’ve seen HR transform from its administrative and industrial relations function to the business advisory role. Now it has to become the strategic partner with an equal voice alongside CEOs and CFOs.
- People analytics will be the main enabler of HR professionals by giving them hard evidence, and therefore credibility, at the top table.
- Leading innovators of advanced people analytics include McKinsey, who have adopted a data-driven approach to understanding individual skills and better matching them to roles. At Google, the people analytics team used 250 data points to characterise high-performing teams and concluded that the team environment is more important than individual constituents. They also found that the teams generating highest revenues were those that felt psychologically safe. At Microsoft, creative examination of email and calendar data revealed the patterns and habits of the most effective managers.
- Research by Bersin by Deloitte shows that two thirds of organisations have embraced people analytics, but too many are limiting their use to reporting functions.
- To thrive, HR needs to break out of straightforward recordkeeping with people data and focus on predicting and improving business outcomes.
- People analytics will underpin all elements of HR in the future – recruitment, engagement, development and retention. McKinsey’s assessment process now includes a video game that captures not just right or wrong answers, but the way applicants think.
- While people analytics won’t ever replace human judgement entirely, they are making human judgement more efficient. Data driven processes are already giving organisations the ability to measure skills such as critical thinking, decision-making and creativity and tailor candidates to roles accordingly.
In summary, the business world is working towards a moment – maybe 20-40 years from now - in which people won’t apply for specific jobs, they’ll apply to organisations who have the tools to place them in positions that best fit their talents.
The Norman Broadbent Group provides leadership search, interim and consulting services and works closely with Calimere Point to deliver expertise and experience in HR data and data analytics. If you would like to learn more about how we may be of help to you or your organisation please contact:
Angela Hickmore, Group Managing Director, via
angela.hickmore@normanbroadbent.com
About The Norman Broadbent Group:
The Norman Broadbent Group is a leading Professional Services firm specifically focussing on Leadership Acquisition & Advisory Services. With an emphasis on ‘Total Talent Solutions’ the Group offers clients a range of complimentary services including Board & Leadership Search, Senior Interim Management, Research & Insight, Leadership Consulting & Assessment, and executive level Recruitment Solutions.
www.normanbroadbent.com
About Calimere Point Risk Advisory:
Calimere Point Risk Advisory is a leading business and data analytics consultancy, with experience across a number of industry verticals including financial services, commodities, utilities and retail. We have developed a strong track record of delivering value from applied analytics for our clients, by leveraging cutting-edge data analytics technologies combined with high calibre execution capabilities. We have extensive experience in implementing advanced data analytics techniques to address human resource challenges by delivering evidence-based insights.
http://riskadvisory.calimerepoint.com/