PeopleSoft 9.1: Practical Improvements– Managing Talent Mismatches
Talent Shortages you say. What are you crazy? Don’t you know that the unemployment rate is 9.7%? We can get anybody we want with any skill we need anytime, anywhere. It is just “common knowledge.”
Most Human Resource professionals already know or will soon come to find out that following “common knowledge” is just too precarious. In fact, a serious case of “Talent Mismatch” is just over the horizon. Manpower Inc’s recent workforce study identifies four megatrends, the first is:
The Talent Mismatch is deepening as the working age population declines and the nature of work changes. These significant shifts in talent supply are transforming the global labor market.
The new HCM 9.1 release cites this mega trend as the impetus for many new features and functions. Succession Planning was one area that received a lot of attention. This module was fundamentally re-developed to become a tool for managing the skills, talent, and leadership blend within your organization.
As much as I hate to use a sports analogy I will do so now. The Saints just won the super bowl. But would they have done so if players had been acquired without consideration to position or skills? A talent mismatch in just a few positions – what if the left tackle was a 200 pounder with slow feet and small hands – would have spelled disaster instead of success.
The new succession planning module not only lets you appraise your short, medium, and long term talent needs but also showcases some new and useful Oracle technologies.
I like these three Talent Management features:
- Talent Pools - Most organizations need many disparate talents to be successful. Who has those talents in your organization? How many do you have? Creating talent pools (engineering, marketing, sales, accounting, finance, and more) provides a strong framework for tracking, managing, and more importantly reaping the benefits of your organization’s most skilled employees.
- Rating Boxes - You have established your talent pools. You have populated those pools with top talent. Are your pools deep or are they dangerously shallow? There is not necessarily safety in numbers. Two high potential high performers may be far better than ten workers who have demonstrated that they are not highly engaged in their field.
A Succession Planning rating box – High potential vs. High performance – will force you to evaluate your talent. If all your people land in the lowest left hand quadrant you definitely have a bad problem. If you have too many in the upper right hand quadrant you may have a good problem.
- Succession 360 -S360 is talent control at a glance. My steering wheel has an info button. I click it and it tells me many things I need to know such as how many miles I can drive before I run out of gas.S360 offers similar information. If setup properly it could tell you how many weeks, months, or years before you run out of talent.
The world’s largest and most productive generation is nearing the final stages of their careers. Even in a bad economy how long do you think they will be able to hold on? Not forever be assured.
Further, the new technology is very impressive: independently refreshed frames, easily collapsible grids, and, of course, drag and drop. I have been dragging and dropping outside of the PeopleSoft realm for many years. Now I will be able to drag and drop succession candidates from one rating box quadrant to another. The Succession 360 component is definitely a technical harbinger of things to come.
Please stay tuned for the next posting in my series – PeopleSoft 9.1: Practical Improvements.
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[...] worth considering is PeopleSoft HCM 9.1’s talent management product. A previous posting entitled Managing Talent Mismatches covers some of the more useful talent management features incorporated into the current release. [...]
[...] worth considering is the HCM 9.1’s talent management product. A previous posting entitled Managing Talent Mismatches covers some of the more useful talent management features incorporated into the current release. [...]