A fifty billion doller industry going through a replacement cycle…now!

19 Oct

Last week i learned all about an industry that is going through a once in a fifteen year replacement cycle, and the winner is…Human Capital management

Reid Hoffman has stated recently that…

Why does Silicon Valley continue to produce a disproportionate share of industry-transforming companies like Google, Facebook and LinkedIn? Or the next generation of companies like Airbnb, Dropbox, and Uber? The answer, which has been hiding in plain sight, is Silicon Valley’s ability to support scale-ups.

The answer is always in plain sight, check out my post about the future of money

Reid says…

When you examine the history of the best Silicon Valley companies, they quickly increase the number of their customers, revenue and raise organizational scale to fit a global market. Most of the impact and value creation in Silicon Valley actually occurs after the start-up phase ends and the scale-up phase begins.

It really pays off if you can be the right person, at the right time, in the Human capital management space, one company i have been watching recently has been cornering the market as the service to select for large enterprise customers VIA it HCR cloud solution

The message is…

time

Introducing Workday, a cloud platform for HR and Financial software, with big data and predictive analysis.

In the next ten years, the HCR industry trends will be…

…and it looks like workday are four years ahead of their competitors SAP and Oracle

Predictive analysis, Netflix recommends movies, ebay recommends products, the workday solution can recommend:

  • Suitable candidates
  • Identifys top preformers
  • Detects false reporting
  • Identifys people who might leave the company
  • Can help plan your global workforce, people and people task

 

Recently…I talked to a manager on a big pharmaceutical project, whos company grossly underestimated the effort involved in planning the next project to manufacture life saving pharmaceutical drugs, where people would die if the project was delivered late, i was able to tell him about Workday and it product features that would have identified this issue.

Underestimation of critical projects is a constant issue for them, especially since they cannot find the right people to work on them

Predictive analytics is the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. Predictive analytics does not tell you what will happen in the future.

The Advantage with Predictive analytics is you can find the needle in the haystack, Workday has acquired a Predictive analytic company “Identify”

The Analysis is done on live data, the solution allows the application to chop data and display it on excel spreadsheets. The clever thing about that is if you don’t present information in a format people are familiar with, they will simply ignore it

Interestingly to identify people who might leave, you need to know three things…

  1. The Job title
  2. Salery
  3. Last pay raise

 

One of the problems facing CEOs is finding and retaining highly skilled people

Team member excellence is within a company’s control, but it requires outstanding recruitment, human-resource practices, training, mentoring, career advancement, communications and a modern work environment.

Does any company come to mind?

Workday rising

 

Another idea for HCR software is Gamification…
If you dont believe me, take a look…
 

 

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