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Welcome to this special Best of July issue of Talent Edge Weekly! 

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THIS MONTH’S CONTENT

This special Best of July issue brings you 14 of the most popular articles and resources from the July issues of Talent Edge Weekly. The resources are categorized into two sections:

1. Practices. High performer and potential report, succession planning, employee retention, HR tech implementation, Chat GPT for HR, skill-based talent practices, reskilling, evaluating non-degree credentials, fractional leadership, and research studies to inform talent practices.

2. Trends. Labor market activity, worker preferences, remote work, and survey on women’s perceptions of various aspects of the workplace.

This issue includes many bonus resources, news about company layoffs, and updates on Chief HR Officers hired or promoted in July.

Since this issue has much more content than the regular weekly issue, you can view an abridged version, which only includes links and a brief description of the 14 resources. To view the abridged version, click the button below.

I. PRACTICES

High performer and potential report, succession planning, employee retention, HR tech implementation, Chat GPT for HR, skill-based talent practices, reskilling, evaluating non-degree credentials, fractional leadership, and research studies to inform talent practices.

TALENT MANAGEMENT

2024 High Performer and High Potential Development Report | The Talent Strategy Group

A new report answering 10 questions about high performers and high potentials.

This new report by the Talent Strategy Group offers insights from a survey of over 300 companies worldwide, focusing on ten key questions about high performers and high potentials (HiPOs). A few findings: Percentage of HiPo and High Performers. On average, organizations consider 15% of leaders to be HiPOs and 21% to be high-performing. HiPo Identification Process. Only 57% of organizations have a formal process for HiPO identification, 24% have an informal process, and the remainder have no process. Managerial Accountability in Talent Development. 55% of companies report no clear managerial accountability for developing team members, driven partly by fewer than 1 in 5 companies including talent development in their leadership model or setting specific talent development goals in performance management. Quality of Development Plans for HiPOs. Nearly 50% of HiPOs have development actions identified in talent reviews, but 75% of companies state that less than half of their HiPOs have high-quality development plans. Recognizing the foundational importance of accurately identifying HiPOs, I am sharing this book chapter by Allan Church and Rob Silzer, published in SIOP's Professional Practice Series book, Strategy-Driven Talent Management. Although published in 2009, it remains a comprehensive resource on indicators of potential.

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SUCCESSION PLANNING

5 Succession Planning Resources | Curated by Brian Heger

My one-page infographic containing 5 resources on various aspects of succession planning.

As I continue to receive several requests for resources on succession planning (SP), here is a one-page infographic containing links to five different resources on SP. A few of the resources include: a 20-minute discussion from CNBC’s WEC Summit with Christina Schelling, Verizon's SVP and Chief Talent and Diversity Officer, focusing on Verizon's strategic use of data science and talent intelligence over the past 12 months to revamp succession planning and executive development for its top 300 VP+ level executives; an article by Gartner providing ideas for building robust leadership pipelines amid disruption and continuous change, featuring a case study of Bridgestone's adaptable approaches to succession planning; and an MIT Sloan Management Review article that examined 185 executive-level job descriptions, finding that many are poorly designed, contributing to misalignment between jobs and successors. I’ve also included my templates on SP metrics and SP questions to help inform an organization’s SP practices. I hope you find this infographic helpful for easily accessing various resources on succession planning.

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EMPLOYEE RETENTION

Identifying and Addressing Employee Retention Risk | Brian Heger

My new one-page template to think through aspects of employee retention risks and potential follow-up actions.

As the retention of top talent remains a concern for many leaders and managers, I am reminded of a quote from Leigh Branham's book, The 7 Hidden Reasons Employees Leave: “Employee turnover is not an event — it is a process of disengagement that can take days, weeks, months, or even years until the actual decision to leave occurs.” This quote perfectly captures the extended deliberation process that employees experience, from the initial thought of quitting to their final decision. To empower managers to proactively identify and mitigate critical retention risks before an employee decides to leave, I have developed a new one-page template. This tool prompts managers to consider essential questions about their team members: Is the person a high performer? A high potential? Do they hold a critical position? To what extent would their departure negatively impact the organization? In column one, enter the names of employees to be reviewed. The following columns allow managers to indicate with a check mark whether each team member meets the specified criteria, with the option to modify these criteria by editing the column headers. The final column is reserved for documenting follow-up actions on areas of concern. While templates are not necessary for identifying retention risks, simple tools like this can help managers proactively and intentionally address the most critical retention risks on their teams.

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HR TECHNOLOGY

HR Technology Implementation Questions | MindemicLab

33 questions that can help increase the likelihood of successfully implementing HR technology.

Implementing new HR technology is a challenging initiative for HR teams, involving significant investment in people, time, and money. These high-stakes implementations often face complexities despite the 'plug and play' narrative often portrayed. According to a February 2024 Gartner survey of 86 HR leaders, only 35% are confident their HR technology strategy is helping achieve business objectives. To bridge this gap, HR teams need to anticipate potential HR tech implementation issues and plan effective responses; one effective strategy is asking and answering the right questions. In this context, Michael Kannisto, Ph.D., has developed a one-page cheat sheet with 33 questions to complement an organization’s current RFP and implementation plans for HR tech. Presented during his keynote at the 2024 HR Tech Conference Online, sample questions include: What problems do people think will be solved by this implementation? Who might end up with extra work when this is implemented? Have we set metrics to evaluate operational and vendor performance? How might our processes change after implementing this tool? By carefully planning with these questions and collaborating with the right tech partner, organizations can significantly enhance the likelihood of HR technology meeting its intended business outcomes.

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CHAT GPT FOR HR

10 Chat GPT Prompts for HR | Brian Heger

My PDF includes 10 example Chat GPT prompts for HR and screenshots of the resulting output.

HR practitioners continue to utilize Chat GPT to redefine their work and unlock new capabilities. Here is my PDF that includes 10 examples of Chat GPT prompts you might use for HR. The prompts are related to topics such as internal mobility, talent reviews, workforce planning, and employee onboarding, to name a few. Each slide includes a prompt (what you are asking for) and a sample of the output. For example, a talent management prompt that centers on “creating a draft talent review agenda” might have the prompt: “I am conducting a talent review for my organization. Write an agenda for the talent review. It is important that we discuss employees’ potential, retention, and talent development, to name a few. Another prompt regarding employee onboarding might be: “Our company is a luxury retailer that needs to onboard new sales associates. Create a 6-week onboarding plan that includes key people to meet, core brands, store policies, and workplace safety, to name a few topics. Please note that this PDF is intended to spark ideas on how you might leverage Chat GPT in your role. Use it as a starting point and modify it as you see fit. I’ve included a page at the end for you to document additional prompts you may want to explore.

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SKILLS-BASED PRACTICES

23 Q&A’s on Skills-Based Talent Practices | Curated by Brian Heger

My new infographic of 23 Q&As from various resources on skills-based talent practices.

Many organizations are transitioning to skills-based talent practices (SBTPs), prioritizing individual skills over traditional markers like job titles, academic degrees, or years of experience. However, adopting SBTPs can be a complex, prolonged process, requiring practitioners to navigate numerous operational and implementation challenges. In this context, I've created a new infographic with 23 key questions and answers drawn from various reports to aid talent practitioners in this transition. A few questions include: How many organizations have successfully transitioned to SBTPs? How effective are organizations at classifying and organizing skills into a skills taxonomy or framework? What are the top three barriers business and HR executives cite as obstacles to SBTPs? Which areas are organizations starting with when introducing SBTPs? This resource includes the question, an answer, and a link to the document from which the information was sourced. While many other questions surround SBTPs, this infographic aims to consolidate diverse perspectives, making them more accessible. I hope you find it helpful.

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RESKILLING

Designing a Successful Reskilling Program | Harvard Business Review

Discusses 6 paradigms with key questions that organizations should consider to overcome challenges in reskilling initiatives.

Upskilling and reskilling are top priorities for many organizations, and this new article from Harvard Business Review discusses six paradigms with key questions to help overcome challenges in reskilling initiatives. This follow-up to “Reskilling in the Age of AI,” shares results from a reskilling survey conducted with chief human resources officers from approximately 1,200 U.S. organizations and 200 business leaders, revealing that 56% of respondents report active reskilling efforts. Despite these efforts, challenges remain, highlighting the need for continuous improvement. For example, one paradigm focuses on measuring the impact of reskilling efforts, proposing questions about whether reskilling pilots have been set up before scaling, if there are robust sets of practical and strategic key performance indicators (KPIs), and if the right stakeholders are reviewing these KPIs frequently enough to make timely adjustments to the program. As practitioners determine how they will measure the impact of reskilling efforts, I am resharing the BCG article, Is Your Upskilling Program Paying Off?, which highlights various metrics for assessing the impact of learning and reskilling programs. In addition to end-state metrics, I recommend incorporating “mini indicators” to help measure directional progress throughout shorter intervals (e.g., months 1-2, 3-6, 9, etc).

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NON-DEGREE CREDENTIALS

The Importance of Understanding Non-Degree Credential Quality | The Burning Glass Institute

Provides ideas for evaluating the quality of non-degree credentials.

Much has been covered about a segment of organizations removing academic degree requirements from job advertisements. A recent report by Burning Glass Institute and Harvard Business School indicates that from 2014 to 2023, the annual number of job advertisements that eliminated academic degree requirements from job descriptions quadrupled. This shift recognizes multiple avenues for skill acquisition, such as non-degree credentials (NDCs). However, the rapidly growing NDC marketplace lacks clear guidance for individuals, managers, and organizations to evaluate the quality of these credentials. The paper highlights the need for a reliable framework for evaluating NDCs, pointing out that employers might underutilize them or only value familiar ones, which limits workers' ability to seek various career paths and job opportunities. Ultimately, there needs to be a way to evaluate the value and outcomes of a credential rather than just know whether someone has earned it. The paper provides various insights, including referencing a framework by EQOS (Education Quality Outcomes Standards) that raises questions for evaluation, such as: what skills do workers learn when they earn the credential? Where do workers who earn the credential end up, and how much do they make? Practitioners can use the insights to evaluate the quality of non-degree credentials.

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FRACTIONAL LEADERS

How Part-Time Senior Leaders Can Help Your Business | Harvard Business Review

Discusses how fractional leaders who offer their skills to multiple firms without the full-time cost can benefit an organization.

As organizations continue to find creative ways to build leadership capability, one strategy gaining appeal is the notion of fractional leaders—experienced professionals, often with decades of expertise, who offer their skills to multiple firms without the full-time cost. As this new HBR article points out, a LinkedIn search found that “as of early 2024, more than 110,000 individuals identified as fractional leaders, compared to just 2,000 in 2022.” The article discusses the pros and cons of engaging fractional leaders and outlines three key considerations and conversations necessary for effectively integrating them into organizations. One insight about evaluating opportunities for fractional work is to start with the work, not the role, by asking: What is the actual need from this function? The article also includes questions to ask potential fractional hires. Fractional leadership could be a part of your organization’s talent strategy and help fill critical talent gaps. As a bonus, regarding the Chief HR Officer role, I am resharing the Forbes Human Resources Council article, 15 Ways Fractional CHROS Can Help You Achieve Company Goals.

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RESEARCH ON TALENT PRACTICES

4 Research-Based Studies on Different Aspects of Talent and the Workplace | Multiple Resources

My curated list of 4 research studies that can help inform talent practices.

HR and talent practitioners increasingly turn to research-based resources to inform talent management and workplace practices. With this as the backdrop, here's my one-page cheat sheet with four studies on: return-to-office mandates, work-from-home impact on working mothers, performance feedback, and internal mobility. For instance: 1) Return-to-office (RTO) mandates: a study by researchers at the University of Pittsburgh found that a) no significant changes were observed in S&P 500 firms' financial performance or stock market value after RTO mandates. b) However, Glassdoor data suggests that RTO mandates negatively affected employee satisfaction. 2) Performance feedback. In this study published in Personality and Social Psychology Bulletin, researchers from Cornell University discovered that underperforming women receive less truthful but kinder performance feedback than equally underperforming men, signaling a need for more transparent and fair feedback practices. Scientific literature and empirical studies can help HR professionals guide their organizations toward more informed decision-making that minimizes reliance on trends, biases, and anecdotal information. As a bonus, a new article by Nick Bloom, published in Stanford Institute for Economic Policy Research, The Next Recession Could Boost Working From Home, provides a few data points and research-based information on work-from-home.

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II. TRENDS

Labor market activity, worker preferences, remote work, and survey on women’s perceptions of various aspects of the workplace.

LABOR MARKET

Help Wanted: Charting the Challenge of Tight Labor Markets in Advanced Economies | McKinsey Global Institute

Analyzes labor market conditions across 30 economies and offers strategies for mitigating talent shortages.

As organizations refine their workforce planning strategies in response to fluctuating supply and demand within labor markets, this comprehensive paper analyzes labor market conditions across 30 economies in Asia, Europe, and North America, focusing on the eight largest: Australia, Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Using 20 illustrative charts, it outlines current labor market conditions, future prospects, and strategic actions to mitigate talent shortages. Sample strategies include: Improving value propositions for both prospective and current talent by offering flexible work arrangements and assessing performance based on output rather than hours worked; seeking talent outside traditional talent pools, such as considering candidates with non-linear career paths and career breaks; enhancing internal mobility through more talent sharing across an organization; investing in technology that complements or substitutes labor, like AI, to boost productivity. In connection with utilizing AI to enhance workforce capacity, I am resharing a Deloitte AI Institute report that provides a useful framework (p.23) for determining which work tasks are best performed by 1) AI, 2) humans with the help of AI, or 3) humans alone.

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WORKER PREFERENCES

How Work Preferences Are Shifting in the Age of GenAI | BCG

A new 36-page report on global trends in workers’ preferred ways of working, including their expectations of employers.

This new report from BCG delves into global trends in workers’ preferred ways of working, marking BCG’s fourth study on the topic since 2014. Based on responses from 150,735 workers across 188 countries, the study covers various topics, including job seekers' negotiating power, employee expectations of employers, worker job values and preferences, potential deal breakers in job offers, and using GenAI in the workplace. One finding is that nearly 70% of European respondents would turn down an attractive job offer if they had a negative recruitment experience, such as discriminatory questions or poor rapport with the interviewer—a sentiment echoed by about 60% of respondents in Latin America and the Caribbean. These findings highlight the importance of the candidate experience. Additionally, the lack of mental health or well-being support is a significant deal breaker for job seekers, particularly in Asia-Pacific and sub-Saharan Africa. The report also highlights a shift in preference toward job security (see post image), which is now the top work preference globally, varying by region. While this dataset is valuable, it is advisable to consider it alongside other resources for a more comprehensive understanding of these trends.

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FLEXIBLE WORK

Research: People Still Want to Work. They Just Want Control Over Their Time | Harvard Business Review

Shares results from a research study highlighting the significant impact of flexible work arrangements on employee satisfaction and well-being..

As many organizations continue to explore ways to offer work flexibility while meeting business priorities, this article discusses a research study that provides useful insights. The authors highlight the significant impact of flexible work arrangements on employee satisfaction and well-being. Drawing from a study that analyzed responses from a US-based representative sample of workers, they found that having control over one's schedule strongly correlates with job and overall life satisfaction. The study differentiates between time scarcity (feeling a lack of time) and lacking control over one's time (feeling a lack of work flexibility). While both negatively impact well-being, “for those who had more control over their time, feeling time scarcity did not undermine their job satisfaction as much as it did for those who had less control over their time.” One interpretation of these results in the context of the return-to-office (RTO) discussions is that “employees are not resisting the office because they don’t want to work or want to work less; instead, they want to be able to control their time.” Although the study includes only US respondents, it offers valuable data for leaders making informed decisions about flexible work arrangements and RTO policies.

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WOMEN IN THE WORKPLACE

How Can Organizations Work Better for Working Women? | Deloitte Insights 

Summarizes insights from Deloitte’s fourth annual survey on women in the workplace, focusing on their experiences, including the impact of return-to-office policies.

This new article summarizes key insights from Deloitte’s fourth annual survey on women in the workplace, which collected feedback from approximately 5,000 women across 10 countries regarding their work experiences. Among several insights from the article and the detailed 49-page report, two areas to highlight are: 1) Impact of Return-to-Office (RTO) Policies: These policies have led some women to request reduced hours or relocate. About 26% of women report a negative impact on their mental health due to these policies, and approximately 20% feel less productive when required to be onsite full-time. 2) Importance of Flexible Working: Those planning to stay longer with their companies cite the ability to manage work/life balance as a crucial factor. On flexibility and work/life balance, only 1 in 10 feel they can openly discuss the need for greater work flexibility. Additionally, nearly all women surveyed (95%) believe that requesting or utilizing flexible working opportunities affects their promotion prospects. As a bonus, I am resharing McKinsey’s and LeanIn’s 2023 Women in the Workplace report (published October 2023), which further underscores the importance of flexibility, especially for working mothers —57% of whom state they would leave or reduce work hours without it. Given the increasing enforcement of RTO, these insights suggest that more working mothers might exit the workforce.

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JOB CUTS AND LAYOFF TRACKER

Here is my tracker, which includes announcements from a segment of organizations that have announced job cuts and layoffs since the start of 2023.

A few firms that announced job cuts in July include:

• CureVac Corp (NASDAQ: CVAC). The vaccine manufacturer announced it will be reducing its workforce by 30% as part of a broad restructuring plan, which includes a new licensing agreement with GSK (NYSE: GSK).

• Intuit Inc (NASDAQ: INTU). The global financial company, which owns TurboTax, QuickBooks, and MailChimp, announced that it is laying off 1,800 employees, or about 10% of its workforce. Unlike many recent tech layoffs aimed at reducing costs, Intuit cited performance-related reasons for the layoffs.

• Nationwide. Announced plans for a 5% staff reduction over the next year. The cuts will come from its property and casualty insurance operations and technology teams. There will be no cuts in the company's financial services operations.

• Salesforce Inc. (NYSE: CRM). The cloud data company is eliminating 300 jobs this month as part of an ongoing effort to optimize its workforce. This follows earlier layoffs, including 700 jobs cut at the start of the year and a 10% reduction in 2023.

• UKG Inc. (NASDAQ: UKG). The U.S.-based software firm announced it is cutting over 2,200 jobs, representing about 14% of its workforce. This decision is part of organizational changes to concentrate on growth areas, aiming to optimize operations, and enhance long-term strategy effectiveness.

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CHIEF HR OFFICER MOVEMENT

73 Chief HR Officers were hired, promoted, and/or resigned in July. A few headlines include:

• Avaya (MORRISTOWN, NEW JERSEY)—a leader in enterprise CX—announced the continuation of its leadership transformation with the appointment of Kamilah Thomas as Senior Vice President and Chief People Officer.

• Denny’s Inc. (SPARTANBURG, SOUTH CAROLINA) [NASDAQ: DENN]—a family dining restaurant brand—announced the appointment of Monigo G. Saygbay-Hallie, Ph.D., as Chief People Officer, effective August 5th.

• Hasbro, Inc.​ (PAWTUCKET, RHODE ISLAND) [NASDAQ: HAS]—a leading toy and game company—announced the appointment of ​Holly Barbacovi as Chief People Officer.

• Inspire Medical Systems, Inc. (MINNEAPOLIS, MINNESOTA) [NYSE: INSP]—a medical technology company focused on sleep apnea——announced the addition of Melissa J. Mann as Chief People Officer.

• USAA (SAN ANTONIO, TEXAS)—a financial services group—announced Tami Cabaniss as the company’s new Chief Human Resources Officer.

Join the CHROs on the Go digital platform to get access to all 73 detailed announcements from July and +3800 (and growing) archived announcements of CHROs hired, promoted, and who have resigned.

If you are already a subscriber to CHROs on the Go, log in here.

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