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Simplifying High Potential Employee (HIPO) Identification Within Your Organization

Managing high potential talent (HIPO) can bring up to 300% improvement in productivity of your workforce. For a HIPO program to be successful, it must start with seeking clarity on the current and future talent needs of the organization. Also keeping understanding organization and the external talent market dynamics is equally important.

Rankskills  provides a universal decision support framework and end-to-end system to simplify the process. We provide system, consulting and support services to identify to HIPOs within your organization. We have  research driven methodology and customizable system platform to analyze employees based on several performance and competency parameters. We deliver customized solutions as per our client specific requirements.

A high potential employee is the one who can handle a larger set of responsibilities than what they are currently handling and  competent enough to surpass  the normal timeframe to the next level of job.  They are able to undertake complex roles or cross functional roles and have the leadership qualities to deliver expected results.

The HIPO has something extra that sets them apart and makes them hold promise for future. They are the ones the leadership team believes can take up senior leadership role. So, it is clear that while identifying HIPO, the primary focus is on potential, the performance is considered as eligibility criteria and as a differentiator to be included in the list of employees to be assessed.

Our approach  is to build HIPO framework based on organizational needs of the client. We build a statistical model (competency index definition) combining relevant competency and performance parameters.

Our system has capability to take input data from several sources, structure the data and use artificial intelligence to present HIPO matrix with a click of a button. The system provides complete flexibility to build HIPO models for multiple roles / levels within the organization.

We use NINE BOX matrix ( Competence & Performance Analysis) for HIPO information visualization.

Example

Performance could be based on : technical abilities , job related subject matter expertise, ability to manage workplace relationships or any other performance parameter

Competence could be based on ability to  grow to the next level, leadership role competencies and most importantly self-motivation to take bigger challenges.

We strongly believe that  that ‘potential’ is context, organization’s culture, strategy and future leadership demands dependent, We take special precaution to build these factors while delivering HIPO solution to our clients.

 

About Rankskills

Rankskills offers integrated workforce performance analytics solution, which includes.

  • Ready-To-Use Competency Assessment System
  • Ready-To-Use Employee Survey & Feedback Tool
  • Ready-To-Use Workforce Analytics System Platform
  • Ready-To-Use Framework And Consultative Support.
  • We Help Companies For Executive Search & Head Hunting Right Talent.

Visit :www.rankskills.in

 

Regards& Thanks

 

Chetan Thakre

Founder ,CEO, rankskills

BE(Mechanical), MBA(Finance), PMP (Project Management), MS(Counselling &Psychology)

Mobile- +91 8446898080 (India), +971 50 9778462 (Dubai)

Email- chetan.thakre@rankskills.in,

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Three Critical Considerations While Selecting Right Talent Analytics Solution

Talent  Analytics  is winning hearts and mind of people managers across the globe. While many organizations extensively use Analytics  in business functions including Supply Chain, Finance and Marketing. Till date  organizations  have taken little advantage of Analytics in the Human Resources  management area. But after seeing fascinating results of  analytics from early adopters, many progressive organizations are  taking right steps in building data driven  culture while  making critical decisions in HR domains like hiring and hi potential identification. Experts continue to emphasize the importance of analytics for HR to transform itself into a more effective resource for the organization.

Following are the three critical considerations  while selecting right Talent Analytics Software

Choose a system platform that will create high impact for the business, not HR.

There is a lot of talent technology software to choose from nowadays, and it can be kind of overwhelming. The most common mistake HR professionals make when choosing talent technology is settling for something that comes pre-loaded with a bunch of bells and whistles because on the surface, it looks like a good fit. Unfortunately, bigger isn’t always better. Especially when you’re trying to provide a strategic return on investment relative to the talent technology you purchase. You want to focus your efforts on platforms that produce the highest yields, not something that can do a lot overall, but is overpriced for your needs. Choose a system  platform that will not only useful for HR but also create high impact for the business as a whole.

Evaluate  customization and  data integration capabilities

Data is a key for any workforce analytics system. Easier  is the data integration with other systems in the company, easier is the system implementation. On the other hand the system need to be customized especially on reporting and analysis side.  Hence thoroughly evaluate customization and data integration capabilities for the platforms under review.

Use analytics platform which can bring data driven culture in the organization.

If you want to drive ROI on technology investment, you better be able bring  more data-driven mindset among the stakeholders. Although it may take some time to adjust to this mentality, data is the key to translating your numbers into what matters most to your business – money.

The  technology platform will come pre-packaged  metrics, which should make the transformation easier. One of the first items on your list before you take the plunge and purchase a technology platform should be sitting down with the stakeholders and designing success metrics for workforce analytics. Even if you don’t have a set of metrics prior to using talent technology, it would be wise to create a list before you choose the solution. If you design a plan beforehand, you can share those details with your executive team to help with buy-in.

Rankskills provides ready-to-use system and consulting support for workforce analytics.

 Rankskills offers integrated talent management system and services.

  • We provide ready-to-use Competency Assessment System
  • We provide ready-to-use  Employee Survey & Feedback System
  • We provide ready-to-use Workforce Analytics system platform
  • We build customized talent management systems & consultative support.
  • We help companies for executive search & head hunting right talent.

Visit :www.rankskills.in

Regards& Thanks

 

 

Chetan Thakre

Founder ,CEO, rankskills

BE(Mechanical), MBA(Finance), PMP (Project Management), MS(Counselling &Psychology)

Mobile- +91 8446898080 (India), +971 50 9778462 (UAE)

Email- chetan.thakre@rankskills.in,

Gaining Competitive Advantage Through Diversity

Is  “Improving Diversity” is just a buzzword or can become a strategic tool to “Gain Competitive Advantage” in the competitive market place?

The real answer comes from within the organization, its culture and most importantly from people-to-people interaction at all levels. One thing is certain with increasing globalization, organizations need to be ready to manage diversity affirmatively competing within a global framework.

Following benefits can be harnessed if organization uses diversity to gain competitive advantage,

1) Talents, skills and experiences from  individuals from diverse backgrounds .

2)  Build culture of  innovation while working alongside people of different backgrounds, experiences and working styles, creative concepts .

3) Grow  talent pool by  attracting  a wider range of candidates to yourr vacancies, as you  will be viewed as more progressive organization

5) Improves employee performance as employees are more likely to feel comfortable and happy in an environment where inclusivity is a priority.

However there are certain challenges to managing a diverse workforce.  Managing diversity is more than simply acknowledging differences in people. It involves recognizing the value of differences, combating discrimination, and promoting inclusiveness. Managers may also be challenged with losses in personnel and work productivity due to prejudice and discrimination, as well as complaints and legal actions Negative attitudes and behaviors can be barriers to organizational diversity because they can harm working relationships and damage morale and work productivity .

There are 7 factors related to workforce diversity whose impact on organization performance must be analyzed. The factors are Age diversity , Gender diversity , Organizational tenure diversity , Educational diversity , work experience diversity , Regional diversity and Religion diversity.

Managing Diversity

Unfortunately, there is no single recipe for success management of diversity. Combination of following factors will decide the organizational success or failure in managing diversity

. – Management need to have willingness  to change the organization culture to effectively manage diversity  at the workplace

– Managers must understand that fairness is not necessarily equality. Managing diversity is about more than equal employment opportunity and affirmative action

– Employees are imparted with necessary  skills for creating and working with a successful, diverse workforce

Companies need a right tool to  analyze impact of diversity on the organization performance and moral of the employee.

Rankskills provides system, consulting and support to analyze impact of diversity at multiple organization levels on  key organizational performance parameters.

 

Rankskills offers integrated talent management system and services.

  • We provide ready-to-use Competency Assessment System
  • We provide ready-to-use  Employee Survey & Feedback System
  • We provide ready-to-use Workforce Analytics system platform
  • We build customized talent management systems & consultative support.
  • We help companies for executive search & head hunting right talent.

 

Linking HR Data With Organizational Performance

Organizations accumulate sizable amount of  data throughout employee life cycle. As per once survey there are over 200 data points collected by an organization about an employee. The employee data can be broadly classified as administrative data, performance data, competency data and employee feedback.

Very few of these data points are connected with organizational performance. HR analytics not only enables HR managers to improve their operations but also help making right decisions regarding organization performance.

  1. Keep A Pulse On Employee Performance : People don’t do what you expect but what you inspect. But for any employee driven organization it’s simply not viable to address performance issues once in a year. Thankfully, HR analytics can help to identify areas in which employees need to improve and this gives leaders the opportunity to guide those they’re responsible for.
  2. Improving Managerial Decision Making : In today’s competitive business environment the decision makers need to critically balance the external competitive pressures and internal capabilities. On one side there is market competition, efficiency issues, pressure to reduce costs, customer satisfaction. And on the other side there are internal capabilities with human capital. HR analytics will help to steer the employees in the right direction far more effectively
  3. Predicting Future State: Its always great to stay ahead of issues that may arise in the future. Predictive HR analysis is essentially the closet thing you could have. HR data analytics software enables your business to spot emerging trends in employee turnover, employee productivity and other vital performance indicators. This makes it far easier to put a preventive and corrective plans in place that can address issues before they affect your.

 

About Rankskills

Rankskills offers integrated talent management system and services.

  • We provide ready-to-use Competency Assessment System
  • We provide ready-to-use  Employee Survey & Feedback System
  • We provide ready-to-use HR Analytics system platform
  • We build customized talent management systems & consultative support.
  • We help companies for executive search & head hunting right talent.

Visit :www.rankskills.in

 

Finding Corporate Cultural Preference For A New Hire

Since great company culture is built on a foundation of trust between employer and employee, it’s important that companies hire the right people to help foster trust. Many organizations rank cultural fit on par with (or even more important than) technical skills and have begun focusing greater attention on fit in the talent acquisition process. Harvard Business Review recently stated, “Culture fit is the glue that holds an organization together. That’s why it’s a key trait to look for when recruiting.” The result of poor culture fit due to turnover can cost an organization between 16% and 20% of an employee cost. In fact, a bad hire can result in possible uncomfortable and costly outcomes for a business including damaged employee morale, negative publicity, lost productivity and possibly litigation.

Imagine a company management  believes that an open office plan and team projects promote creativity and progress, but the employees are overwhelming introverts and not comfortable to work in an open environment. Cultural fit is a concept that can be hard to find at the time of hiring, but everyone knows when it is missing.

If you look at the companies whose workforces are happy, engaged and productive, you’ll find a common denominator: a great company culture. Exceptional corporate culture occurs when employers value team members and employees feel connected with corporate culture. It starts with trust. Every employee within the organization has a job to do, working toward common goals that are typically based on business targets and profitability markers. Without trust, an employee and employer relationship can’t even function on a basic level, let alone grow. A successful company can’t be achieved alone, and it’s the recognition of that fact by all parties that create a positive, productive environment.

Company culture is made up of the values, beliefs, attitudes and behaviors shared by a group of people and it is made up of all the life experiences each employee, from executive to hourly employee, brings to the organization. At its core, organizational culture is about the people that make up the company. It comes from the employees, which is why it’s important to start by asking, speaking with, and most importantly,

Every organization is different, and all of them have a unique culture to organize groups of people. Yet few people know that every organization actually combines a mix of four different types of organizational culture under one leading cultural style, The Clan Culture, the Adhocracy Culture, the Market Culture, and the Hierarchy Culture.

Employee preference for specific corporate culture can be predicted as a part of hiring process using Rankskills On-line Competency Mapping Assessment. Please get in touch with us to find out how you can determine corporate cultural for new hire or existing employees

About Rankskills

Rankskills offers integrated talent management system and services.

  • We have customizable Competency Assessment & HR Analytics system platform
  • We build customized talent management systems.
  • We help companies for executive search & head hunting right talent.

Visit :www.rankskills.in

 

Emerging Trends In Talent Assessment

Organizations today compete fiercely for talent. Firms invest an enormous amount of money, time and other resources to attract the best candidates. Careful talent assessment results in significant productivity increases, cost savings and decreased attrition for effective talent management.

The nature and variety of assessment tools have evolved considerably in recent years as analytics and data have become more important in the business environment. Formal assessments are used to hire new employees, evaluate current employees for different roles, identify employees with high leadership potential, compare talent within an organization against industry or geographical benchmarks, understand talent strengths and gaps, and develop employees’ long-term value.

Advances in technology mean that more tools are accessible online, on-demand, and with immediate reporting and feedback. Technology has also given rise to more available data on individuals and new tools that enable organizations to mine these data for competitive advantage. For example, social media and other data collected via technology are used for predictive analytics, modelling trends, passive assessment of candidates and uncovering insights to enhance business performance.

The use of immersive, personalized assessment experiences is on the rise. In the hiring context, organizations are using these new tools and experiences to provide job previews and sell the organization and its brand. The Evolution of Assessment Technology Unsupervised online testing has become the standard for assessment administration because it is so efficient, decreasing the time needed to fill vacancies and reducing costs.

Initially, online testing prompted two major concerns: test security and candidate integrity. Concerns about security arose because early versions of online assessments were static, meaning that all candidates received the same items, which could be copied and shared easily. If tests are copied and shared, they become invalid and must be replaced, creating unsustainable costs for companies. Computer adaptive testing (CAT) methods are now the norm because CAT allows for dynamic selection of questions from a large set of items based on how each candidate is responding.

To ensure candidate integrity, some organizations ask candidates who have progressed through the hiring process to complete a brief onsite assessment at a convenient point to verify the candidate’s online score. Mobile assessment now provides even more convenience than assessments via desktop computers. A new class of assessments that use mobile-centric design principles has arisen to optimize the user experience. Innovative assessments that go beyond multiple choice and look and feel more like games. The result of these innovations is that assessments are being judged by their design and accessibility as much as by their measurement and predictive qualities. Some assessments, including personality and past-experience assessments, show little difference in scores when completed on mobile devices or PCs.

Future Trends Technology will continue to spark revolutionary changes in assessment methods and practices. For example, the ability to passively target candidates from available information sources could lead to transformational changes in hiring processes. Today, applicants apply for positions based on job postings, but tomorrow organizations may search data for key talent in ways that bypass postings. This is uncharted territory and will require new policies on privacy, legal and ethical considerations. As hiring practices span global markets, human resource professionals will also have to become familiar with additional laws and regulations. Perhaps most important, early adopters of new technology should be aware that without sufficient research behind it, an innovation might undermine rather than help an organization to make effective, defensible hiring decisions. In some countries, litigation and audits of hiring practices will lead to new standards and precedents related to new assessment technology, and organizations must be alert for these changes.

About Rankskills

Rankskills is on-line Talent Assessment & HR Analytics Company

We build customized competency and performance management systems

Modern Methods of Performance Appraisal

  1. Management by Objectives: This concept was given by Peter.F.Drucker, according to him, the performance of an employee can be assessed on the basis of the targetsachieved by him as set by the management of an organization.Firstly, the management sets the goals and communicate the same to the employees, and then the performance of an employee is compared against these set goals and is evaluated on this basis.
  2. Psychological Appraisals: This is one of the most frequently used modern methods of performance appraisal, wherein the psychologist assesses the employee’s potential for the future performance rather than the past one. Under this method, the psychologist conducts the in-depth interviews, psychological tests, discussions with the supervisors and the reviews of other evaluations.

This assessment is done to determine the intellectual, emotional, motivational and             other related characteristics of an employee that is necessary to predict his                          potential  for the future performance.

  1. 360-Degree Feedback: It is a feedback method wherein the details of an employee’s performance is gathered from other stakeholders such as superiors, peers, team members and self. In this method, the employee is asked about himself, i.e. what he feels about his performance, and then accordingly he can realize his strengths and weaknesses.

Also, the peers or team members are asked about assessee’s performance through which the employee knows about what others feel about him and can overcome his disbeliefs if any. Thus, this method is used to have a detailed evaluation of an employee from all the perspectives.

  1. 720-Degree Feedback: This is an another feedback method, wherein the assessment is done not only by the stakeholders within the company but also from the groups outside the organization. These external groups who assesses the employee’s performance are customers, investors, suppliers and other financial institutions.

It is one of the most crucial modern methods of performance appraisal because this is the only group that determines the success of the organization as a whole.

Nowadays, companies use the modern methods of performance appraisal which have a broader scope than the traditional methods and provides a more accurate and comprehensive evaluation of an individual.