Your #1 Talent Metric for 2023: 
Understanding Zero Wasted Potential

The world’s best organizations are thinking about Zero Wasted Potential when it comes to people, business, and society.

In the current climate as we edge closer to a global recession, a focus on workforce optimization and Zero Wasted Potential is quickly become a top priority for CEOs and CHROs to safeguard the future of their businesses and their people.

Zero Wasted Potential exists when every person has access to a meaningful career, no matter their background or circumstance. Every business has the right skills in the right roles at the right time, and society can reap the benefits of diverse thought leadership and fair and equitable opportunity in the working world.

In this context, wasted potential refers to the failure to recognize and utilize an individual's talents and abilities to their full extent to the benefit of the individual, businesses, and society. Siobhan and Jason discuss the impact of wasted potential on productivity, engagement, and bottom line costs and profitability, and how reporting on the wasted potential is quickly becoming an executive, board and shareholder priority.

The 5 pillars to achieving Zero Wasted Potential:

1. 100% visibility of your people skills and potential. You need a 3D view of the skills, likely skills, skill adjacencies, skill gaps and potential across your:
   • people
   • teams
   • workforce
     
     
2. Actioning a skills-based strategy. You need to understand what makes up your jobs: Skills + Tasks + Responsibilities + Time. With the support of AI, you need to keep your job architecture live and evolving as your workforce changes.
   
   
3. Resilience and change management. Embracing change is like having a finely tuned muscle. You need to train, grow and flex that muscle:
   • How quickly can you adapt?
   • How assured do your people feel?
   • How resilient is your workforce?
     
     
4. Hyper-personalized experience for employees, talent teams, and people leaders. You need to have a blend of employees driving their own careers while the organization proactively supports career moves. Remove friction by creating an environment where opportunities are baked into your day-to-day ways of working. Less systems, more nudges!
   
   
5. Workforce optimization. Your ability to orchestrate the movement of people around your business so you can:
   • Put the right people, right skills in the right place at the right time
   • Move people to opportunities in good times and bad

What's the index when we achieve Zero Wasted Potential?

• Decreased regrettable attrition
• Increased productivity and hours unlocked
• Increased employee engagement
• Increased % of job opportunities filled internally
• Increased internal mobility and career pivots
• Increased skills growth and development

What's stopping global enterprises from achieving Zero Wasted Potential?

There are a number of factors impacting leaders ability to achieve Zero Wasted Potential including a lack of understanding of employees' skills and potential, a lack of understanding of the elements that make up a job (i.e. skills, tasks, and time), managers who are unwilling to share resources, a siloed workforce that is not agile, and a lack of a clear path for employees to move from role to role.

Fortunately, from a data perspective, these challenges can be addressed thanks to workforce intelligence technology that provides two-way visibility at scale between people skills, and the jobs requiring them. But a leader has a double responsibility here; first, adherence to modern data techniques that enable two-way visibility at scale, and two, continual cultivation of learnings that underpin being able to offer people the support they need to develop and grow.

To learn more about how Reejig can support your journey to Zero Wasted Potential, book a demo with our team.