CLIENT CASE STUDY - How PeopleCentriX enabled a pharma client to streamline talent acquisition KPIs around the globe.
After defining the global talent acquisition strategy of PharmaCorp, a global biopharmaceutical company, PeopleCentriX identified the need to streamline the Key Performance Indicators (KPIs) of PharmaCorp's talent acquisition activity in over 50 countries. Recognising the importance of consistent and standardised KPIs to measure and monitor strategic objectives, PharmaCorp and PeopleCentriX co-designed a global framework for talent acquisition KPIs.
Standardising and simplifying organisational processes stood as a foundational pillar in PharmaCorp's business and talent acquisition strategy. However, the diverse ways that various geographic regions measured and reported their KPIs to the global head of TA created significant divergence, hindering swift data-driven decision-making. The challenge lay in striking a balance between harmonising KPIs and reporting standards across regions while accommodating local contexts and targets.
To address this challenge, PharmaCorp collaborated with PeopleCentriX to implement a comprehensive analytics solution by:
Step 1 - Prioritising a list of KPIs to measure and monitor progress on TA's strategic objectives
PeopleCentriX teamed with PharmaCorp's global TA group to prioritise a set of KPIs that would act as a common framework to monitor and measure TA's strategic goals. These KPIs were developed in alignment with industry best practices. By unifying and standardising these KPIs across PharmaCorp's regional divisions, the company's talent acquisition function would gain the ability to compare its performance with that of its competitors, facilitating valuable benchmarking insights.
Step 2 - Understanding the Scope and Definition of Existing TA KPIs
To gain a comprehensive grasp of the TA KPIs in use across various regions, PeopleCentriX engaged with a diverse range of local stakeholders. Through this collaborative effort, we documented the intricacies of each metric, encompassing its definition, formula, target audience, measurement approach, and reporting frequency. This thorough investigation was geared towards comprehending the spectrum of KPIs employed within each region, along with the rationale behind their measurement and reporting practices.
Step 3 - Analysing Consistencies and Deviations across +50 Countries
Following consultations with local stakeholders and meticulous documentation of their reporting protocols, PeopleCentriX undertook an extensive comparison between the KPIs employed across different regions and the KPIs prioritised at the global level. Through this assessment, we pinpointed both commonalities and divergences between local and global needs. This comprehensive analysis highlighted possible pain points to be addressed by consulting local stakeholders.
Step 4 - Running Workshops to Drive Common Adoption of Standardised KPIs
To ensure the adoption of the globally defined KPIs, PeopleCentriX facilitated a series of interactive workshops with critical stakeholders from all regions. These sessions functioned as a conduit for disseminating the global framework, gathering insights, and refining aspects to align global objectives with regional requisites. By employing consistent communication and co-design principles, PeopleCentriX effectively fostered the adoption of global KPIs within the local echelons of the organisation.
The implementation of a global analytics solution for talent acquisition KPIs at PharmaCorp created business value through:
Knowledge sharing and Collaboration
The workshops fostered alignment and collaboration among stakeholders from different regions, promoting knowledge sharing and disseminating best practices across the organisation.
Global Reporting and Benchmarking
By establishing standardised KPIs, PharmaCorp achieved precise global reporting capabilities and the capacity to compare its performance with industry peers. This empowered the global TA leader to swiftly take data-driven decisions.
Informed Decision Making
The streamlining of KPIs provided reliable, actionable, and accessible data. This information supports informed decision-making at all levels of the organisation, relating to strategies for talent acquisition, allocation of resources, and improvements in processes.
- Alignment with Business Objectives
The streamlining of KPIs standardised and simplified the process of measuring and tracking PharmaCorp's talent acquisition activities and outcomes. This alignment with business goals ensured that the function was well-matched to the overall needs of the organisation.