Talent Edge Weekly - Issue #249

Skills-based talent practice questions, high performer and high potential report, flexible work, non-degree credential quality, and HR initiative prioritization.

Author

Brian Heger
July 21, 2024

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Welcome to this week’s issue of Talent Edge Weekly!

A special shout-out to Beth Codner, Chief People Officer at Form Energy, for referring new subscribers to Talent Edge Weekly. Thank you, Beth, for your support of this newsletter!

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THIS WEEK'S CONTENT

If you only want a quick overview with links and brief descriptions of the topics covered, check out the summary below. If you're interested in my deep dive, including bonus resources, continue reading the rest of the newsletter.

Also, check out the job cuts tracker & Chief HR Officer hire of the week.

Let’s dive in! ⬇️

THIS WEEK'S EDGE 

SKILLS-BASED PRACTICES

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.

TALENT MANAGEMENT

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.

NON-DEGREE CREDENTIALS

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.

FLEXIBLE WORK

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.

HR EFFECTIVENESS

My one-page editable template for reevaluating HR priorities and initiatives. It can also be used for non-HR functions.

There are 164 days left in 2024, 23 weeks, or five months. Depending on your perspective, this may seem like a lot or a little time until the year ends. Regardless, now is a good time for organizations, teams, and individuals to revisit the goals they set at the start of the year. Changing circumstances, such as layoffs, talent shortages, or shifts in the business environment, often necessitate reevaluating priorities. As HR leaders face decisions to reprioritize goals and initiatives, here is my one-page template that can be used to facilitate conversations and decisions. This editable template allows you to list all HR initiatives, evaluate their impact on stakeholder value, and assess their complexity and investment levels. Leaders can then decide whether to stay the course, deprioritize, or further reevaluate objectives. Like all templates I share, this tool aims to jumpstart discussions that help teams make informed decisions. Customize it to fit your organization’s needs, and consider adding criteria for ‘business impact’ and ‘investment & complexity.’ Additionally, I recommend the book The 12 Week Year: Get More Done in 12 Weeks than Others Do in 12 Months by Brian P. Moran and Michael Lennington. This book highlights how the traditional annual goals and planning cycle can hinder achieving desired outcomes, whereas a 12-week approach fosters focus and clarity in achieving what matters most.

MOST POPULAR FROM LAST WEEK 

SUCCESSION PLANNING

My updated one-page template to help track progress in 12 succession metrics.

I recently made a carousel post on LinkedIn sharing 12 examples of succession planning (SP) metrics. To help practitioners track any of these metrics, here is my updated/new editable PDF template that will allow practitioners to set a baseline (current state) and a desired state for their organization’s succession. The subsequent columns can be used to indicate progress at certain timeframes.

JOB CUTS AND LAYOFF TRACKER

Check out my tracker of announcements from a segment of organizations that have conducted job cuts and layoffs since the start of 2023.

Partial view of tracker on brianheger.com

A few job cuts announced this past week:

  • Amdocs Ltd. (NASDAQ: DOX). The software giant is cutting 1,500-3,000 jobs, representing 5%-10% of its global workforce, as part of a business optimization plan.

  • Cargill Inc. The agribusiness company is cutting approximately 200 tech jobs globally as part of a strategic shift to build new digital technology and data capabilities.

  • 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.

Click here to access all listed announcements.

CHIEF HR OFFICER HIRE OF THE WEEK

Hasbro, Inc.​ (PAWTUCKET, RHODE ISLAND) [NASDAQ: HAS]—a leading toy and game company—announced the appointment of ​Holly Barbacovi as Chief People Officer. She comes to Hasbro from Bungie, where she most recently served as Chief Operating Officer. Prior to her COO role, Holly was Bungie’s Chief People Officer.​

Holly Barbacovi​

If you want access to +3700 (and growing) detailed announcements of CHROs hired, promoted, and resigning, join my CHROs on the Go subscription—a one-stop-shop for knowing who is moving in and out of the Chief HR Officer role.

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

FROM X

AI IN TALENT ACQUISITION

TALENT EDGE WEEKLY REWIND

WORKFORCE PLANNING

Shares five tactics for mitigating overhiring in organizations.

THE BEST OF JUNE 2024

Did you miss the “Best of June ” issue of Talent Edge Weekly? If so, check out issue #246, which includes 16 of the most popular resources from the month.

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OUR RESOURCE LINEUP

​brianheger.com provides free access to +1,300 curated articles, research reports, podcasts, and more that help practitioners drive better business results through strategic human resources and talent management.

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​Talent Edge Weekly is a free weekly newsletter that brings together the best talent and strategic human resources insights from various sources. It is published every Sunday at 6 PM EST.

Talent Edge Weekly is written by Brian Heger, an internal human resources practitioner. You can connect with Brian on Linkedin, X, and brianheger.com