Korn Ferry launches new talent analytics engine
Comprising more than 2.5 million assessments (heavily weighted by the very top executive levels) and profiles of 8.5 million candidates, this data supports Korn Ferry’s new talent analytics engine, designed to help companies identify top talent, assess performance and developmental gaps of their leaders, measure the effectiveness of their global talent workforce overall – and even compare their level of talent to their industry peers.
The talent analytics engine, called Korn Ferry’s Four Dimensions of Leadership & Talent (KF4D), was born from the best intellectual property and databases of four industry titans that have all been acquired by Korn Ferry in recent years – PDI Ninth House, Lominger, Global Novationsand Decision Dynamics, as well as Korn Ferry’s own historical data.
Korn Ferry’s social scientists combined and analysed the data to develop a framework around the four crucial areas that matter most for the success of an individual and their organisation – competencies, experiences, traits and drivers. The firm’s research shows these four areas combined are highly predictive of performance, leadership effectiveness and leadership potential.
Competencies — the skills and behaviors required for success that can be observed
Experiences — assignments or roles that prepare a person for future opportunities
Traits — inclinations, aptitudes and natural tendencies, including personality and intellectual capacity
Drivers —values and interests that influence a person’s career path, motivation, and engagement
Steve Newhall, Managing Partner at Korn Ferry Leadership and Talent Consulting in London, explained: “Businesses track and value most of their assets from inventory, to product quality, operations expenses or profit margins with great precision. Yet few companies are so meticulous when measuring their talent assets.
“By leveraging what we believe to be the world’s largest set of data on senior talent – more than 2.5 million assessments of professionals and top executives – we have categorised the elements of talent and isolated the most potent facets. To get the best out of a company’s talent strategy it is vital to measure these four dimensions holistically, to provide unparalleled accuracy and turn people success into business success.
The state-of-the-art platform spans every industry and job function and will provide organisations with robust diagnostics at both the individual and enterprise levels.
The firm will deploy KF4D as the engine for its executive search and professional recruiting processes, leadership development and consulting and recruitment process outsourcing engagements, as well as internal hiring and leadership development efforts.