Tackling the Global Talent Shortage with Behavioral Assessment Data

WELLESLEY, Mass., June 11, 2013 /PRNewswire/ -- Yesterday, more than 300 senior level talent acquisition specialists, managers and human resource executives gathered in Boston for a two-hour, interactive workshop dedicated to using workforce analytics to gain a strategic advantage in a challenging labor market.  Participants experienced how a science-based behavioral assessment can inform talent management decisions across the employee lifecycle to increase retention and create a strong talent pipeline. The workshop host, PI Worldwide, also today released a new whitepaper about the role such assessments play in improving the global talent shortage.

Reports indicate that more than one third of employers worldwide struggle with staffing shortages and over half of these organizations fear this talent shortage will have a high or medium impact on their businesses (Manpower Group Annual Survey, 2012). The whitepaper highlights behavioral assessments as integral, data-driven tools for companies strategically planning for future talent management needs.

The key, according to the whitepaper, is for companies to be more "talent-focused" rather than merely "resource-focused" in their strategic planning efforts. While the latter develop plans that emphasize headcount projections and associated costs, such "resource-focused" companies often overlook vital people-related factors that can put the successful execution of the company's intent at risk. Talent-focused companies, by contrast, go further by using workforce analytics to ensure job-fit for workers and to optimize individual development and team dynamics. Subsequently, these Best-in-Class organizations are benefitting from higher levels of employee engagement, job satisfaction and retention.

Behavioral assessments provide an objective view of each individual's innate needs and motivational drives in the workplace. The result is a more predictive understanding of the individual's behavioral tendencies and, ultimately, fit in the role.

"An individual's behavioral data gives you concrete analytics about the person's motivation and drives," said Nancy Martini, President and CEO of PI Worldwide. "In business, that translates to use in selecting those with a solid fit for the position, understanding how to on-board them effectively, and managing them based on their individual needs rather than the manager's."

High performing companies are increasingly turning to behavioral science to inform their talent acquisition and development processes. In fact, behavioral assessments are proving so valuable that today, 92 percent of companies report using assessment data to improve workplace performance, according to the Aberdeen Research Group.

Yesterday's workshop, Talent Acquisition's Expanded Role and the Application of Behavioral Data, was a featured event on the preview day of HCI's 2013 Strategic Talent Acquisition Conference which continues Tuesday, June 11 and Wednesday, June 12 in Boston. Led by Martini and a team of management consultants, the hands-on workshop provided executives the opportunity to personally apply predictive analytics across the employee lifecycle in three key areas: selection and hiring, coaching and development, and leadership and team building. In small groups, they defined the behavioral requirements for a fictional position at a hospital call center, assessed several candidates and conducted a fit-gap analysis to fill the role. Participants walked away from the session armed with a sample coaching and retention plan based on the exercise.

The whitepaper outlines the process for effective strategic workforce planning which includes creating strategic alignment, evaluating the current state of the organization, accurately forecasting future workforce needs, and analyzing gaps before developing and executing on the action plan.

Download a copy of the PI Worldwide whitepaper, Overcome the Talent Shortage with Strategic Workforce Planning –How Behavioral Assessment Data Drives Long-term Business Success.

To access a recording of yesterday's workshop, please email [email protected].

About Predictive Index®
The Predictive Index® (PI®) is PI Worldwide's proprietary and scientifically-validated behavioral assessment that predicts workplace behavior. Founded in science and developed for business use, the PI offers a clear understanding of the behavioral needs and drives of the talent in your organization. The outcomes include improved productivity, retention, job satisfaction and management impact, resulting in a high performing culture. The Predictive Index® is available in over 65 languages (including Braille) and is used in over 140 countries by more than 8,000 organizations.

About PI Worldwide:
PI Worldwide and its global consulting network combine the power of predictive data with business expertise to help organizations worldwide achieve a competitive advantage. Trusted advisors since 1955, we help businesses align their people with their strategy to create long-term sustainable results. Our clients realize measurable value through our workforce analytics, philosophy of self-sufficiency, knowledge transfer approach and our integrated technology platform.

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SOURCE PI Worldwide