I ran across an interesting post from the LinkedIn blog, via Steve Barham from LinkedIn, entitled Where did all the people go from the collapsed financial institutions?. The post was looking at the flow of employees between five major financial services companies:
- Credit Suisse
- Bank Of America
- JP Morgan Chase
This image shows the amazing amount of data that is available from LinkedIn both via public searches and as a premium paying member, to quote the post:
To be specific, other than two acquiring companies (Bank of America acquired Merrill Lynch and Nomura acquired Lehman Brothers’ franchise in the Asia Pacific region), Barclays was by far the biggest beneficiary, scooping up 10% of the laid off talent, followed by Credit Suisse at 1.5% and Citigroup at 1.1 %.
While an interesting look at talent movement it got me thinking.
A couple of questions came to mind:
- Do you use external talent movement data in your workforce planning/sourcing strategy planning?
- Does your workforce analytics program allow you the same sort of analysis?
I would suspect most companies would answer No to both questions. The cynical might also ask why would you want this information. So let’s look at a couple of examples:
Example 1: Your organisation is experiencing rapid growth in one particular area of the business, so you need to recruit more employees. Access this information would allow you to target the “usual suspects” for new talent but you could also look to see if there had been a major exodus to other organisations that may not be on your “usual suspects” list. These organisations may not be prepared for an all out assault on their talent.
Example 2: Can you produce graphs that show where each division of your organisation is getting is best performing employees, covering both internal and external movements? Not a purely LinkedIn example but highlighting similar talent flows.
A final note there is no reason why your HR/Payroll/ERP/People Management/Whatever System should not be launching these sorts of features. For example LinkedIn opened its API up to developers almost 6 months ago.