In this episode of Talking Talent, we explore how understanding and leveraging strengths, motivations, and values can unlock career satisfaction and long-term success. Through the PACER framework, we uncover strategies to align strengths with roles and projects, boosting performance and engagement.
The discussion also highlights practical tips for tackling less enjoyable tasks and the surprising impact of overusing strengths on career progression. Perfect for anyone looking to thrive in their career or empower others to do the same, this episode is packed with insights to help you harness strengths for greater impact and satisfaction.
In this episode of Talking Talent, we highlight how strengths-based approaches can shape early career development to accelerate growth, engagement, and retention. The discussion touches on helping young professionals discover and leverage their strengths, setting the foundation for long-term career success. We also explore how organisations can adapt to Gen Z’s evolving workplace preferences, including flexibility and autonomy. A must-listen for anyone supporting or embarking on early career journeys in today’s dynamic workplace.
In this episode of Talking Talent, our directors, James and Paula, explore the vital connection between strengths and organisational change. Embracing change is essential for organisations and their people to not just survive but thrive. James and Paula discuss how a strengths-based approach can be pivotal in driving organisational change and transformation.
They highlight the importance of engaging employees in the change journey and fostering a culture that encourages resilience, creativity, and a growth mindset. Leaders must communicate a clear vision and rationale for organisational change to ensure buy-in from their teams. This episode provides valuable insights into how to create a collaborative environment where everyone feels included and empowered to contribute to the change process.
Additionally, James and Paula emphasise the need for building the right teams to navigate these challenging times effectively. By harnessing individual strengths, organisations can cultivate the necessary change capabilities to adapt and thrive.
Tune in for an insightful discussion filled with practical strategies for driving successful organisational change and optimising individual strengths to create a thriving workplace culture.
In this episode, James Brook and Paula Baetu dive into the crucial role of managers in empowering their teams to thrive by optimising their strengths. They explore how it’s not just about driving high performance, but also about unlocking a wealth of great ideas and diverse perspectives. Discover how these insights can add significant value to customers and end users, and learn strategies for navigating the ever-changing and complex landscape that organisations face today. Tune in for an engaging conversation packed with actionable insights.
Join James Brook and Paula Baetu as they discuss how to build a thriving workplace culture using a strength-based approach and unleash your team’s unique talents and foster a positive, productive environment.
Explore the impact of overused strengths on performance and potential in our newest episode of Talking Talent with TalentPredix. Join James Brook and Paula Baetu as they discuss the pitfalls of overusing strengths and effective strategies for managing them.
Discover the future of talent in 2024 with our latest episode of Talking Talent with TalentPredix. Join James Brook and Paula Baetu as they delve into the latest trends shaping the workforce landscape, offering valuable insights and predictions for the year ahead.
Listen to James Brook, CEO and Founder of TalentPredix, and Elsa Baptista talking about the future of strengths assessment and the importance of navigating change in the modern world of work.
Effective talent management needs to be measured and not just managed. As the adage goes, “if you can’t measure it, you can’t manage it.” When it comes to measurement, there are a host of different metrics you can use. However, we propose starting with the following 4 which are arguably the most important for any small to mid-sized scaling business:
Cost of new hires
Hiring can be extremely expensive if a scaling business uses agencies to fill most vacancies, as many do in my experience. So, it is vital to measure how much new hires are costing the business. This enables you to decide where to invest your recruitment budget and how to attract better candidates. Glassdoor, the employee review and insights company, estimated that the average cost to hire was £3000 in 2020, but this is likely to be significantly more if the candidates you need have in-demand skills or are at a senior or managerial level.
Cost per hire is relatively straightforward to measure as it simply involves dividing the total hiring costs by the number of hires for any given period. The total hiring costs should take account of external costs including job advertising costs, agency fees and pre-hire assessments while internal costs include referral bonuses, in-house recruiters, and in-house systems such as an applicant tracking system.
The best ways to reduce cost per hire are to use less expensive hiring channels including referrals, job boards and LinkedIn. You should also consider total talent solutions such as outsourcing, sub-contracting and offshoring work where project-based work and roles can be done more cost-effectively by skilled people outside the business. As a quick win, I would strongly recommend a generous, engaging and well-communicated referral program, as this can save a company a significant amount and generally leads to better-quality candidates.
Internal fill rate
This is, in my experience, one of the most important metrics for talent analytics. It measures the percentage of key roles (both managerial and non-managerial) filled by internal hires in a given period. For example, many top companies ranked in the “Best Companies to Work For” league tables aim for at least 80% of such positions to be filled from within the company. This is a crucial measure as it provides a good indication of your company’s success in retaining, developing, and progressing top talent.
It is important to note that it isn’t always desirable to have most roles filled by internal candidates, particularly when you are looking to transform the culture, strategy, or performance of the business. It is typically beneficial to bring fresh talent into the company to encourage diversity, different perspectives, and fresh thinking.
Retention of key talent
Many growing companies fail to measure the retention of key talent. This is a grave mistake as this metric provides a way of tracking how successful you are at creating the type of work environment that attracts and motivates top-flight talent.
It is important to stress that this measure is different from a general turnover measure which looks at what percentage of the workforce are leaving in any given time, typically each quarter or year.
While general turnover figures are important, retention of key talent is a much more targeted measure that looks at the turnover of your “A-players”, those who are likely to be the greatest contributors to your company’s success.
In addition to this metric, I would strongly suggest conducting “exit interviews” with all key people who resign to explore their reasons for leaving. This feedback together with engagement research (incl. focus groups, ongoing dialogue and engagement surveys) will provide HR and management with a good basis for making improvements to employee engagement and retention.
Number of employee ideas and idea conversation rate
For scaling companies to succeed in increasingly competitive, fast-paced markets, they need to create the type of work environment where people feel willing to openly share their ideas to improve products, processes, and teamwork.
However, in our experience, very few companies track the number of business improvement ideas they get from employees together with the adoption of these by the business. This is a big oversight as these metrics provide a good indication of the levels of innovation, commitment, and engagement of the workforce.
To get the most from their people, every scaling business will benefit from identifying a handful of critical talent objectives and metrics, such as those above, that are aligned with their overall business and people strategies. This HR scorecard will help you track and improve the effectiveness of your talent programs and initiatives, enabling you to derive maximum returns on your investment in people.
First developed over 20 years ago, strengths-based assessments have been growing in popularity in recent decades among people leaders, coaches, and consultants. This is hardly surprising given the considerable benefits they offer organizations across virtually every stage of the talent lifecycle. Studies show that when organizations incorporate strengths-based assessment and development practices into their people strategy, they can achieve significant gains in both people and business outcomes. The ROI of strengths tests includes improvements in hiring outcomes, performance, engagement and retention, employee development, career progression, teamwork, well-being, and financial results.
Strengths and talent assessments are essentially measuring the same thing. They are both performance-based measures of the underlying qualities that energize people and enable them to do their best work. The main difference is that assessments describing themselves as “talent assessments” recognize an important distinction between talents and strengths that is often overlooked. One’s talents need to be optimized through skill building and experience to deliver value to the organization and be regarded as strengths by others. For example, one of my top 5 talents on the TalentPredix™ profile (which measures 20 critical work-related talents) is Leading. This means I am energized by inspiring and guiding people to achieve shared goals. However, over the years, I have had to develop a lot of skills, behaviours, and agility in the way I use this talent so that it is used effectively, creates a positive impact and is considered a valuable strength by others. At TalentPredix, we therefore talk about strengths being “fully optimized talents”.
Unlike popular personality tests such as MBTI and DISC, strengths-based assessments don’t pigeonhole people into oversimplified, and sometimes imprecise, personality types and categories. Instead, they focus on understanding what’s unique and different about people’s talents and behaviours and how people can bring the best of themselves to their job and career. Even when people have similar talents and strengths, strengths assessments recognize that people will apply them in different ways, depending on their aspirations, motivations, values, and background.
After 2 decades of use around the world by all types of organizations, strengths assessments must now evolve and adapt to the fast-changing needs of a modern workplace. Yet, in recent years, we have seen very little evolution of strengths-based assessments. Like many well-established personality tests, it appears that strengths tests have been slow to adapt and embrace innovation. To move strengths assessments into the new world of work, our team has created a next-generation strengths assessment that examines how combinations of talents, values and motivations can help people achieve higher levels of performance, career thriving and well-being at work. To reflect the fast-changing, volatile world we now live in, one of our four talent zones measures “Navigating Change”, which we define as “navigating and responding effectively to change”. Surprisingly, none of the other strengths assessments on the market today measures this vital strength area in such a targeted way. Uniquely, our assessment also examines the specific behaviours that show up when people overuse their strengths, in other words, when they use them too much or in the wrong way. For example, when one of my strengths, “Creativity”, is overused it can lead to me coming up with ideas that are unrealistic and unworkable
Yet there is plenty of work still to do by strengths test publishers and strengths practitioners to keep these assessments relevant and value-adding in future. Some of the opportunities for further research and innovation include:
There is another important opportunity where we believe strengths-based assessment and development tools could play a vital role in future. We would love to see other strengths test publishers, HR and L&D practitioners, and voluntary sector organizations working more closely together to bring the enormous benefits of this approach to the growing numbers of disadvantaged and marginalized job seekers and employees. A strengths-based hiring and development approach can help these people by empowering them to present their strengths, skills, and other standout qualities to employers in the best possible light. Moreover, by valuing and developing their strengths, disadvantaged job seekers and employees will develop self-confidence, agility and resilience, vital attributes to secure meaningful employment and progression. There are dozens of ways to help these groups. For example, TalentPredix provides significant discounts to companies in the voluntary sector and contributes a percentage of our sales revenue to charities helping disadvantaged job seekers.
Strengths assessments are now widely adopted by organizations in the UK and globally for numerous talent applications, including hiring, employee development, team building, creating great places to work and career progression. However, after two successful decades, strengths test publishers and practitioners need to adapt and innovate their tools and practices to meet the changing needs of the modern workplace.
Click here to discover how we help organizations unleash exceptional talent and thriving workplaces.