HRHeadStart #57: Talent Scenario Planning; ChatGPT; The Right Strategy
HRHeadStart #57: Talent Scenario Planning; ChatGPT; The Right Strategy
The Talent Agenda
The macroeconomic climate continues to pose deep uncertainties for everyone. On one hand, organizations are trying to navigate the post-pandemic world and on the other, they are dealing with a broader economic slowdown and a possible recession.
Uncertainties are not new to organizations and one of the most powerful ways to address them is through a technique called Scenario Planning, pioneered by Royal Dutch/Shell in the 1970s to predict oil production and prices. The idea is to identify the key sources of uncertainty for a business and imagine scenarios on how they could impact the organization. For example, in devising the HR plans for the year, we might consider two sources of uncertainty - 1) demand for talent and 2) state of the economy. If we plot these out on a simple matrix, we can immediately start thinking about how these scenarios might unfold and how we could react to them from a HR perspective.
To explore this topic, check out this post from
Working Better
If you haven’t explored ChatGPT, an AI-driven chatbot, you absolutely must (free registration)! You can simply ask questions about topics you care about and get some pretty interesting responses. I tried asking a number of questions like how to create a talent strategy, how to perform workforce planning etc. and got quite competent responses. Here is a screenshot of the chatbot’s response to “how do you create a competency framework?”:
Not only can this technology help you learn and generate ideas, but it is also important to explore new ways in which these technologies are evolving. The technology is not perfect and inaccurate at times, but still truly mind-boggling. Check out this piece on how we might apply this technology across business functions.
Tiny Thought
The right strategy doesn't always offer immediate rewards.