Cara Capretta, Vice President of HCM Transformation Practice at Oracle, discussed the value of the talent profile for sourcing internal talent.
“Most of my customers talk about wanting to increase engagement and create a better employee experience,” stated Capretta at the outset of her thought leadership presentation at the 2017 CHRO Leadership Forum: Redefining HR as the Business Partner, held in San Francisco on November 30. “Career growth and development have become more and more of a priority along with learning, digitization of HR, and recruiting and placement of talent in organizations,” she said.
“Although everyone is interested in career growth and development, there’s a statistically significant difference for Millennials. According to a 2017 Gallup survey, 60% of Millennials say growth opportunities are one of the most important things they look for in a job. This same poll found that employees who use their strengths at work are six times as likely to be engaged.”
Capretta continued, “One of the big challenges I see in this regard is that it’s easier to find a job outside the company than inside the company. This is the reality for many organizations. Another challenge I see for embracing employee development and focusing on engagement is that the public domain has more current and accurate information about your workforce than you do. VPs of global recruiting from all over the world tell me they go to LinkedIn to source internal candidates for their jobs rather than using their own HRIT system. That’s crazy. We can’t let this continue to happen. Our employees are looking elsewhere for jobs. We have to accept that it’s OK for us, as big employers, to lose our talent to ourselves,” she stated.
“One of the big challenges I see in this regard is that it’s easier to find a job outside the company than inside the company. The public domain has more current and accurate information about your workforce than you do. VPs of global recruiting tell me they go to LinkedIn to source internal candidates for their jobs rather than using their own HRIT system. That’s crazy.”
“I think we’re about to embark upon a revolution in the internal talent marketplace. The term ‘internal talent marketplace’ is the same as ‘open marketplace.’ I’m amazed by customers I meet who are pushing us out of our comfort zone to create capabilities that enable something that’s pretty scary for most organizations and takes courage to embrace. There’s a recognition that there has to be total transparency of skills and capabilities in the organization. If not, retention and engagement are going to be near impossible.”
“There’s a recognition that there has to be total transparency of skills and capabilities in the organization. If not, retention and engagement is going to be near impossible.”
Capretta urged companies to create an environment that brings all kinds of social media together. “If you’re in the Cloud, what you’ll find, from an HCM standpoint, is these platforms look like an employee directory, with all this social goodness. All of this is built off the employee directory, and, to make the internal marketplace happen, the talent profile is just one step or one evolution away. Most companies are light years away from this,” she observed.
“How do we facilitate this? The talent profile is the single most important thing we can do to facilitate the internal talent marketplace. It also helps with engagement, retention, and career building. Many companies are trying to figure out how to reverse engineer the outcomes they want from an internal talent marketplace.”
“The talent profile is the single most important thing we can do to facilitate the internal talent marketplace. It also helps with engagement, retention, and career building.”
Capretta offered the following practical next steps for companies using cloud technology or thinking about moving to the Cloud:
• Use the directory that comes with your HCM cloud provider. “The directory should pull from your core HR and be the landing page that people come to.”
• Increase adoption in a nonthreatening way with competitions and informal activities to begin building profiles.
• Have only ONE talent profile. “Also, the difference between a talent profile and a LinkedIn profile is there should be a validation process.”
• Update competency, skill, technical, and leadership profiles for key jobs and levels.
• Focus on jobs that have progressive career paths where retention/engagement is problematic (80/20 rule).
• Take a different approach for people who are in your formal succession-planning process.
• Move stuff out of performance management and into the talent profile.
• Utilize transparent candidate sourcing for HR across the enterprise. “This is where we’re headed.”
ABOUT CARA CAPRETTA:
Cara, VP of HCM Transformation Practice for Oracle, has nearly 25 years of internal and external experience in HR. She leads a team of evangelists for HR transformation and share best practices in North America.
Cara is the former President and COO of Lominger International, a Korn/Ferry Company. Lominger provides of competency-based leadership development tools globally. While at Lominger, she co-authored several books. She also helped develop product lines including FYI™ for Teams, FYI™ for Talent, and The Interview Architect®.
Cara became the VP of Strategy and Intellectual Property for Korn/Ferry International in 2006.
Prior to working in the consulting and the commercial product arena, Cara was a Human Resources executive at Nationwide Insurance for 13 years, where she was responsible for enterprise-wide assessment, leadership development, talent review, and succession-planning efforts for more than 25,000 employees. She also has experience as a Human Resources generalist.
Cara is a native of Columbus, Ohio where she attended The Ohio State University and graduated from Franklin University.