People Data Insights

Paul discusses a framework for understanding the CompTech landscape, driven by thinking about how Compensation teams create value in their organizations. In recent research, Novo Insights has identified distinct categories of technology Compensation teams can use to make a bigger impact with greater efficiency.
For more on our perspective, check out this blog.
To participate in the Comptech Market Insights Survey, click here.

Paul has a wide-ranging conversation with Cole Napper, VP of People Analytics and product Evangelist at Orgnostic. In their discussion, Paul and Cole chat, debate, and have a little fun on a variety of People Analytics topics. Among the resources and sites mentioned in the show:

Directionally Correct newsletter (with links to podcast)
The Black Swan article
Orgnostic
The Information to Impact process
The Talent Magnetism concept and related solutions

Paul covered three topics under the broad theme of disruption:

1. The World Economic Forum Future of Jobs report, which explores disruption in the labor market
2. A recent academic paper on the occupation-level impact of generative AI (and a handy Washington Post summary visual)
3. Thoughts on how measuring churn and gross change can inform a different perspective than simply measuring net change.

In this episode, Paul summarizes our recent research on the size of compensation teams and the factors that affect team productivity and growth.

Access to the research report can be found here:
https://www.novoinsights.com/insights/is-your-compensation-team-understaffed

Paul is joined by Richard Rosenow, VP of People Analytics Strategy for One Model. In this conversation, they explore the distinction between People Analytics and the current boom in generative AI, the importance of data modeling and data strategy for generating useful analytics, and some important considerations for People teams as they build and scale a People Analytics function.

Among the content referenced in the episode:
The One Model blog
The People Data Platform whitepaper

As the People Tech market explodes with AI innovation, it's critical that People leaders become wise consumers of AI. In this podcast, Paul explores the key questions you need to ask when your People Tech vendors release AI innovations. 

Paul provides his take on two key hot topics in the People space: AI and Pay Transparency.

Artificial Intelligence In The Spotlight

• ChatGPT is unavoidable, and the applications for HR are real. Related article here.
• Workday is getting sued about their algorithm (linked here), but also is describing very valuable ML-based enhancements to their product suite. Their strategy announcement is here.
• Cool innvation in People Analytics using AI. Orgnostic announcement.

Making Pay Transparency Work
Novo Insights blog here.

Paul and Bryan discuss what the medium to long-term impact of pay transparency might be, based on academic research and other thought leadership in the space. Will wages go up - or down? Will pay equality increase? What unintended consequences might we see? What new pay strategies might arise?

Studies cited in this episode:
The economic effects of expanded compensation disclosures
Does Transparency Lead to Pay Compression?
Equilibrium Effects of Pay Transparency
The Austrian Pay Transparency Law and the Gender Wage Gap
Do Firms Respond to Gender Pay Gap Transparency?
The influence of pay transparency on (gender) inequity, inequality, and the performance-basis of pay

Paul chats with Justin Hampton, Founder of CompTool, about what organizations are doing in an era of pay transparency in job postings. They share what the data shows is happening in posted pay ranges and idenify how organizations should think about these ranges as they compete for talent.

Referenced in the show:
Article that states number of job postings on Indeed fell after transparency law went into effect: Here
(Note that underlying JOLTS data did not show a corresponding change in opennings)
CompTool.com

Part 1 of 3 to discuss what's happening with Pay Transparency. Paul is joined by Chris Ward, Partner with Foley & Lardner, to discuss the changes in the law and how to approach compliance with those changes.

Foley article summarizing 2023 changes: https://www.foley.com/en/insights/publications/2023/01/navigate-new-state-pay-transparency-laws-2023
Cheat sheet of laws: https://synd.io/blog/us-pay-transparency-legislation-cheat-sheet/

 Paul and Greg discuss what happens that causes an employee to consider leaving a company, and how this affects the approach we take as HR practitioners in diagnosing employee attrition. Greg also highlights the work he does to help individuals network more effectively without going to networking events.

Greg Roche helps introverts grow their networks without going to networking events. He is the author of The Fast and Easy Guide to Networking for Introverts, he posts every weekday on LinkedIn about networking, and he recently launched The Introverted Networker which is his weekly newsletter that delivers one networking tip to your inbox every Saturday morning. He's a VP of Compensation at large healthcare company and has spent the last 25 years of his professional life working in the healthcare, consulting, cybersecurity, and multifamily real estate industries. Greg is a Colorado native who has lived in the Denver area for the past 20 years. 

Sites / Links mentioned in the show:

https://www.linkedin.com/pulse/what-happens-right-before-your-best-employee-quits-greg-roche/ 

https://www.gregsroche.com/
https://www.novoinsights.com/novoretain

Paul is joined by Alex Marcus, CEO of Integral Recruiting Design and co-founder of the ATS Think Tank, to discuss metrics in the Talent Acquisition space.

Alex's website: https://integralrecruiting.com/
ATS Think Tank: http://ats-thinktank.com/

Paul reviews some recent content around some key trends and priorities facing the HR profession for 2023.

Referenced:
www.brianheger.com
https://www.linkedin.com/in/brianheger/
Priorities cheat sheet 

Josh Bersin post on HR Tech trends:
https://joshbersin.com/2022/12/hr-technology-2023-whats-hot-whats-not/ 

Paul and Bryan discuss Artificial Intelligence and Machine Learning. They discuss its history, evolution, and common applications - as well as the pitfalls and risks.

Link to original Dan Ariely tweet that makes Bryan's quote seem less controversial: https://twitter.com/danariely/status/287952257926971392?s=20&t=w1hwoGgX0tviEeG2EqXaXg

Arthur Samuel Checkers Paper: https://www.cs.virginia.edu/~evans/greatworks/samuel1959.pdf

Chat GPT: https://chat.openai.com/chat

Paul and Bryan discuss remote work: their histories, some key research on the topic, and some learnings about how to make remote and hybrid work more successful.

Research cited:
Nicholas Bloom research with Trip.com: https://www.nber.org/system/files/working_papers/w30292/w30292.pdf
Microsoft Study: https://www.nature.com/articles/s41562-021-01196-4
Inc.com Summary of Microsoft study: https://www.inc.com/jessica-stillman/remote-hybrid-work-paradox-microsoft-satya-nadella.html

Paul and Bryan rate and discuss the level of hype around three emerging technologies: artificial intelligence, the metaverse, and blockchain. For each, they discuss the level of hype, and share the results of a recent LinkedIn poll about the expected impact of each technology. They then discuss and debate the use cases of each technology and how this could impact the HR profession. 

Specific topics worth hearing:
Bryan defines Artificial Intelligence, and compares its adoption to a certain teenage behavior. Paul and Bryan discuss how AI and the mathematical underpinnings have proven value for HR. 

Paul discusses his skepticism for the metaverse, though both acknowledge the real possibilities for value in applications where dangerous, multi-sensory experiences can be effectively trained through virtual experiences. 

Bryan expresses doubt around the efficiency of blockchain technology at scale, and Paul and Bryan agree that blockchain may still be a solution in search of a problem. Paul raises one HR use case that may add value: employee verification. 

Welcome to People Data Insights. In this introduction episode, Paul and Bryan introduce their love for data, share stories about data in their history, and discuss their goals for this podcast.

Content of value: Paul shares a story about the challenges with pay conversations, and how one set of data suggests the “better” conversations actually are the most difficult. 

This podcast is brought to you by Novo Insights. We help People teams use data to make a bigger impact in their organization. FInd out more: www.novoinsights.com