Talent Intelligence: Can it Outsmart People Analytics?

Imagine you’re on a safari, eagerly searching for the lion.

Suddenly, your guide points to… a flamingo? Sure, it’s a pretty bird, but it’s not exactly what you came for.

That’s kind of how traditional talent management can feel.

It’s great for spotting basic skills, but when it comes to finding the perfect talent fit, it can be a bit…well, pink and feathery.

So, in this dynamic environment, intuition and gut feeling simply aren’t enough.

You need a data-driven approach to make strategic decisions about the most valuable asset – the people!

This is where talent intelligence comes in.

It’s the systematic collection, analysis, and application of data about individuals’ skills, experiences, and performance to inform HR strategies and decision-making.

Talent intelligence involves using various data sources and analytical tools to understand the current workforce, identify skill gaps, predict future talent needs, and develop strategies for attracting, retaining, and developing employees.

But is it better than traditional talent management? Let’s find out!

The Issue of Skills Taxonomy and Job Architecture

Many companies are struggling with skills taxonomies and job architecture. In fact, it is one of the most pressing problems in HR.

They hope that by creating a “global skills taxonomy”, it will make hiring, career development, and succession planning easier.

Vendors claim that this will automate job decisions based on skills. However, this process is complex.

Because,

• Companies need accurate data on skills for various HR functions like recruiting and training
• It’s crucial to regularly assess and update skills, and to have a process and governance for this.
• Deciding on the terms and details of the skills taxonomy is difficult
• Companies need to stay updated on new technologies and skills in the market to ensure their skills remain relevant

Talent intelligence can help overcome the complexities of creating a skills taxonomy and job architecture.

Here’s how.

Why is it a Game Changer?

Think of talent intelligence as your crystal ball for talent management. Here’s how it empowers HR leaders:

How to Implement Talent Intelligence? A Framework

Source: The Josh Bersin Company

Once you decide on which business area to focus, you can look at the “Four Rs” of talent intelligence.

Recruit: How do we source, recruit, hire, and onboard these people?

Retain: How do we improve employee experience to increase retention?

Reskill: What new development or career pathways will help us improve internal mobility and growth?

Redesign: How do we reorganize and redesign work, jobs, or our employment model to adapt?

What’s the Role of Technology? 🧐 And How We Can Help You Build Your Talent Intelligence Function

To bring the best out of talent intelligence, technological innovation is crucial.

For example,

1️⃣ Right now, AI is being used to analyze data and predict future performance, skills needs, and even flight risk (likelihood of an employee leaving).

This could be further refined to identify high-potential employees early or predict the impact of new technologies on the workforce.

2️⃣ Current talent intelligence systems can identify skills listed on resumes or profiles.

New advancements might involve using AI to infer skills based on a candidate’s work experience, projects, or even online activity, giving a more complete picture.

3️⃣ Talking about Generative AI, it can analyze your existing workforce data and create a skills gap report. You can then prompt the AI to identify employees whose past experiences and achievements demonstrate the ability to learn the desired skills quickly.

And these are just a few possibilities!

We can expect to see even more innovative solutions emerge in the field of talent intelligence.

Being an HRTech-focused product engineering company, we understand the complexities of implementing a robust Talent Intelligence solution.

Our team of HRTech experts can guide you through every step of the process, from identifying your specific needs to developing a customized solution that integrates seamlessly with your existing HR systems.

Here’s how we can help you.

✅ Data integration

✅ Customizable solutions

✅ Actionable analytics

✅ Future-proof technology

Contact us today to discuss your Talent Intelligence needs and let our HRTech product engineers craft a solution that propels your organization forward!