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3 Ways to Go All-in With a Video Interview Platform
JOSH TOLAN | March 30, 2019
Bersin by Deloitte is the leading provider of research, tools, professional development, and advisory services in talent management, enterprise learning, leadership development, talent acquisition, and HR software and solutions.
Article | July 27, 2020
Bartosz Kostrzewski is someone who doesn’t like to sit still. From his start as an intern to his most recent roles this has been a defining fact and strong motivator for him. Initially, he had a job in Market Intelligence. A job he was good at and was comfortable doing. And for him, that became a problem. “70% of questions that came to me I could answer easily. It was great, but it wasn’t really exciting for me anymore. I'm this type of person that likes uncharted territories,” he explains.
Article | May 1, 2021
It’s worth sharing some of the findings from our global advisory group, Mindshop, and our colleague advisors from around the world about what they’re seeing in their marketplaces.
First of all we understand that businesses will typically be facing 1 of 3 scenarios:
1. Busy - business is still going well with some disruption to the way they operate and demand may even be increasing.
2. Low Impact - perhaps there is a revenue reduction of between 10% and 20% with some uncertainty about the future and the possibility that the impact could be short-term.
3. High Impact - revenue reductions of 50% or more, or the business has even stopped operating as normal.
In each of these scenarios we have seen the need for common overarching responses and the need to maintain those on cycles of no more than 30 days. These responses are firstly to Survive, followed by exploring the options to Pivot or Adapt and then to move into a Thrive mode in the new reality.
We are aware of some businesses that have already made a substantial Pivot and may have changed, for example, the focus of their manufacturing and consequently have continued to do very well. While that looks like a great outcome we would expect the best of these businesses to already be planning whether they need to make another Pivot as things change or to lock their new found income streams into their future business model. These are strategic decisions that will need to be taken quickly.
Being approximately 6 weeks into an overall community response, we have seen that most businesses are anticipating that their survival initiatives will probably be around a 3 month process and that they are about halfway through that now. We are also seeing an expectation that the search for, and execution of, opportunities to Pivot will take a further 6 months and it may be as much as 12 to 18 months before organisations are starting to thrive in their new reality.
In looking at what this means for leaders, there are a whole range of strategies and tactics that can be applied, here, we would like to just provide a few examples under the Survive and Pivot/Adapt responses, and then point you to some free resources that you may find helpful.
1. For Leaders in all scenarios
a. Survive - Calmness, communication and scenario plans are vital
b. Pivot/Adapt - regularly review your business vision - things will change
c. Thrive - have your growth plan ready with a new view of risk mitigation based on our current shared experience
2. For Leaders in the Busy Scenario
a. Continually review the operational capabilities to respond to unexpected falls in demand and to anticipate growth
b. Make sure that you continually update your disaster scenario plans - it could still happen to you
c. Make sure to use your newfound cash flow to prepare yourself well for your new future as you continue to develop your new product and service offerings
3. For Leaders in the Low Impact Scenario
a. Communication and focus are both here, team members will have seen enough of the alternative scenarios to be concerned about their future and if they are not working with purpose, low-impact can turn into high-impact very quickly
b. Your Pivot responses should see a revised strategic plan focusing on recovering lost business but also on evolving into modified products and services - reimagine these in a changed market
4. For Leaders in a High Impact Scenario
a. Hibernate long-term strategically important areas of your business as effectively as possible
b. Choose the team members to work with you on the recovery very carefully
c. Reimagine the business as a leaner and more effective operational unit as the market starts to recover or you discover opportunities to Pivot
Obviously, these are just simple snapshots of leadership responses, but clarity of thinking in all scenarios is what will see good businesses coming out of this on the other side successfully.
Article | March 10, 2020
Few chief learning officers (CLOs) disagree they have a mandate to ensure that learning initiatives align with organizational strategy. A great deal of research exists about how to align the two. However, what does it look like for employees to connect their learning and development with an actual organization’s strategy? The term “line of sight” refers to how well an employee can see and understand the connection between their work and organizational strategy.
Article | August 9, 2021
We assessed the financial value of human resource management (HRM) as a function of obtaining more star performers. Specifically, we implemented utility analysis procedures on 206 samples of individual performance (i.e. output) encompassing 824,924 workers. We found that HRM adds greater financial value by obtaining more stars. Our results also offer several specific contributions to HRM theory. First, regarding how HRM produces greater value by obtaining more stars, our evidence points to a nonlinear model of HRM’s value, where HRM generates significant yet diminishing returns by increasingly obtaining the most productive ones. Second, regarding when, our results show that diminishing returns from HRM are stronger when output differences among top stars are relatively small. Third, regarding why, our study explains that small output differences among top stars may create various costs which diminish the returns from obtaining the most productive stars. Our explanation of HRM’s nonlinear pattern contributes to the star literature by helping integrate a variety of specific explanations for stars’ curvilinear influence discussed in past research. Regarding HRM practices, we highlight the need to use utility analysis procedures that more fully consider the existence of stars.
Our overall empirical finding was that HRM creates greater financial value by obtaining more stars. We also offered several theoretical contributions to HRM and the star literature. First, our results offered a nonlinear model of HRM’s value, where HRM produces significant yet diminishing returns by increasingly focusing on obtaining the most productive stars. Second, regarding when, we provided evidence that diminishing returns from HRM are stronger when output differences among top stars are relatively small. Third, regarding why, we explained that small output differences among top stars may create various costs which diminish the returns from obtaining the most productive stars. Fourth, our explanation of HRM’s nonlinear pattern also contributed to the star literature by helping integrate a number of specific explanations for stars’ curvilinear influence proposed in past research. From a practical view, we highlighted the need to use utility analysis procedures that more fully consider the presence of stars because extant procedures often significantly underestimate the value brought by obtaining more stars. By considering stars more fully, valuations of HRM are more accurate and also comparable with valuations of other business areas that recognize the reality that often few products and services contribute disproportionately to a firm’s bottom line. In closing, we hope our article will stimulate HRM research and applications that fully consider the prevalence of stars and their relative value to firms.
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