Managing Tomorrow Today
June 2, 2008
I’m happy to present this guest blog from our Thought Leader partner and my friend Dr. Jac Fitz-enz.
Predicting the future is a big business. Economists, financiers, demographers, pollsters and pundits are paid big money for their insights into what might happen next in their respective areas of expertise. If we can catch glimpses of the future of something as complex as the economy, why can’t we look into the future to predict our human capital needs? I started researching human capital metrics in the 1970s, when almost no businesses were really crunching the numbers on their people. Today, I am working hard to push the frontier of predictive analytics. Last year I kicked off a predictive analytics initiative, and partnered with SuccessFactors Research to find out what works.
In business, gathering and analyzing data is only a beginning. Managers want metrics that are actionable, metrics that support business decisions. They want a glimpse of their future. To answer that call, we have developed HCM: 21, a better way to collect, integrate, process, analyze and predict business results. It links external forces and internal factors, plans with it, processes it, analyzes it and predicts it within a single, integrated system much like FedEx does with small packages. The value add is compelling business intelligence about our most mission critical resource: human capital.
Most great advances in the information era have not revolved around new products. They have been about the distribution of something. Consider Avon in cosmetics, FedEx in package delivery, Amazon in books and USA Today in newspapers. In every case upon introduction adoption of the better method was condemned by naysayers. Innovation today is about efficient movement of data and products.
Just as other breakthroughs have been built on integration, HCM: 21 incorporates human capital information from many sources. But it is not about information technology in the sense of computers any more than Gutenberg was about paper and ink. Movable type launched the efficient distribution of information, which made possible widespread education and facilitated trade. HCM: 21 is the first successful method for combining mission critical, human capital data to manage risk and predict return on investments all within a single, comprehensive system.
You can find a preview of the HCM: 21 system in the whitepaper I wrote with Erik from SuccessFactors Research, Managing Tomorrow, Today. It is not a crystal ball for the future, but rather a blueprint for putting your data to work, not just to solve the problems you are facing right now, but to ready yourself for tomorrow. How integrated, actionable and relevant is your human data? Don’t get stuck looking backward and reacting, make sure your data is good enough to look forward to tomorrow.
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As an outsider it is sort of interesting to see these developments in regards to tools and technologies, that will take the place of older methods. It used to be forced and rather strict punishment/reward methods that were used to handle the workplace. These methods become less effective when the hierarchy of needs are filled at its basis. Much like educating a child in contrast to teaching a dog. In the beginning they start out at a point where the methods are similar or at least seem much the same in their nonverbal, and action correcting system. As the child gets older other motivations are needed, explaining and manipulating by future reward systems. Then when you reach the teenager and even adult the game is so much more complex. The same is the situation for motivating the modern workplace. The employer has lost his threat based power, much like the parent has towards an adult child. So the game really is how do you make the child love you and want to stay at home. In addition when is it in both employer and empoyees interest to let them go to seek new challenges, and how can you as an employer help in this situation. Also in this isnt there a basis for mutual beneficial exchange of talent between businesses? B2B exchange of HC, without it being to damage competition. In practice make sure the HC is traded to someone that will benefit you and not damage you. This is praticed to some extend, but being more open about it, might actually build a new awareness about it. In return we could expect to see some unique cultural developments.