The purpose of this step is to identify data trends for your critical roles including identifying what kind of skills your workforce currently has. How have you been operating thus far?
To do this, consider which roles are critical to accomplishing the goals of the business. Is there a specific role or roles which may be considered more critical? For some businesses this role might be an engineer, barista, pilot, instructor or consultant. All jobs are important. Some simply create more value and wealth than others. In general, about 10-15% of jobs can be considered a critical role. These are the roles you want to spend the most time and energy on analyzing, and in general when developing your talent strategy. Consider the competencies and skills required of these critical roles and record this information into a success profile.
Begin by collecting relevant data such as:
- Skill levels
- Turnover rates
- Employee engagement rates
- Performance metrics
- Job categories
- Length of service
Next analyze the data for trends and assess using multiple variables linked together. Below are some potential variables to consider:
- Turnover by length of service
- Engagement by location
- Engagement by manager
- Turnover by demographic factors
- Sources of talent leading to highest hire quality
- Performance by location
After completing this step, you may end up with more question than answers. That’s ok! Try to identify meaningful analytics, rather than measure what is easy. Remember that data can never be perfect, so don’t get too bogged down in details and end up in a state of analysis paralysis. Move forward with what you are able to collect.
The value of making data-driven decisions cannot be understated.