CXO TV in an exclusive interaction with Sunil Mudgal, Advisor, BRIDGEi2i tries to find out how to forecast the demand and supply of talent in short and medium term along with Is talent analytics transforming people strategy?
On how to forecast the demand and supply of talent in short and medium term –
We do have talent or workforce forecasting engine which essentially uses some of the fundamentals that we typically require in a supply chain management process where you have to look at what is the business strategy, where is the growth in business come from, what are the skill sets require in future and where is the supply for that talent is going to come from. In terms of universities the programs that universities run, competitors, what are likely organizations which have developed that talent and those are some of the factors including the lifecycle of employees & talent to provide relevant inputs to determine the talent forecasting and proceed on that journey.
Is talent analytics transforming people strategy?
Talent analytics is transforming the businesses because the data is now helping get much more finer in terms of what are business problems you are trying to solve. It is also helping us to have much sharper focus on how do you solve those issues which you could earlier only identify but do nothing about it.
Today, the journey is moving from handling information which could be pure play dash boarding to generating insights to answer the question of Why some trends are coming in to moving on to impact which is so what and answering those questions that’s my take on transformation, he sums up.