Other parts of this series:
In my previous post in this series, I looked at how banks can use digital technology to deliver a better learning experience for their workforces. This time, I’ll look at how digital technology is enabling managers and the human resources organization to deliver personalized career management options to their workers.
For example, more and more financial services organizations offer internal one-stop websites where employees and their managers can find and manage career information. These may be paired with internal talent marketplaces where talent can be matched with the right role, meeting the worker’s need for career development while giving the bank flexibility in workforce planning.
In the future, workers may be able to define their own career paths, drawing on data about the paths co-workers followed or insights into their own strengths, preferences and unique abilities. A site called Knack, for example, uses a game format to help workers discover their “knack”—their unique combination of strengths, talents, abilities, personality traits, likes and preferences.
In the future, workers might use social media to advise career counselors how best to counsel them, instead of having HR provide this advice. In addition, career management will become more scientific as managers and employees use data and digital assessment tools such as gamification to make decisions about career progression. Decisions about learning, development, performance management and compensation will all be made based on data.
One global bank, for example, has created a self-service career platform that resembles LinkedIn for its employees. The site helps employees to understand the benefits of moving to jobs in different business units or countries. Managers are encouraged to support workers who are interested in moving. This helps to retain skills of people who might otherwise have moved to a different company in search of a new challenge.
Santander Group, the largest bank in the Eurozone, invested in a centralized internal recruitment platform to boost work mobility for its 180,000 employees. It deployed a single career-recruitment site—on corporate and local intranets, in six languages and accessible through single sign-on.
As the implementation partner, we helped Santander to maximize the group´s global presence by improving its ability to promote internal talent mobility through a rapid deployment of the Oracle platform. The solution offers a uniform user experience to all employees seeking new positions, while analytics dashboards enable the HR department to evaluate candidates from various departments, roles, countries, and organization areas within the group.
In my next post in this series, I’ll delve into how digital technology brings transparency to appraisals and rewards.