Moneyball for Business

By Sebastian Apelt, Managing Partner, Above + Beyond Management Consulting.

Michael Lewis’ book “Moneyball: The Art of Winning an Unfair Game”, created serious buzz in the baseball world when it was first published in 2003.  The book, along with the 2011 film adaptation, explored how the Oakland Athletics used Sabermetrics - empirical baseball analytics – to assemble a competitive team despite financial constraints. The progressive book and ensuing film adaptation focused on general manager Billy Beane’s attempt to field a competitive team while living up to the recurring theme “adapt or die” in the major leagues.

Beane revolutionized baseball.  He created one of the most cost-effective strategies to field a team in baseball. He spent a quarter of the money other teams did on their talent while devising a reliable way to predict potential.  This enabled him to find value other teams did not see.  It created a Moneyball revolution, and many teams followed his strategy after proving to be a success.

Moneyball isn’t just a sports story, but a lesson in Strategic Talent Management to which all businesses – small and large – should pay attention. Data analytics and data science can help you make smarter, faster, more predictive decisions about talent. In today’s competitive world, talent is your most valuable asset. It’s also probably your biggest expense - so why not be more strategic about it?

Utilizing predictive data to produce business-relevant insights that translate into action is our goal at Above + Beyond. Our Talent DNA process delivers critical insights about your company’s people: their preferences, potential, what makes them more effective, and how they can contribute more to the success of your organization. It ultimately determines what makes your people happy, productive and willing to go that extra mile. The stuff they are made of - we call it their DNA.

As the war for talent intensifies, attracting, retaining, and developing talent is more critical than ever. In order to be competitive, doesn’t it make sense to know the DNA of what it takes to be successful at your company? Wouldn’t you want to know that your people have the right stuff? How much does a wrong decision on Talent cost you?  Our clients use our Talent DNA process to avoid those mistakes and to develop a strong and reliable workforce that delivers great products and/or services for their customers.

Other great benefits of knowing an employee's success DNA is that it helps you create personalized learning experiences for them. This helps our clients get a better Return On Development (ROD).  Why not target and segment your development spend so your people are getting the exact type of development they need? Especially your high potentials.

Talent Analytics can help you do that.

So, if you want to maximize your people’s performance and potential, you need to understand what drives them. You also need to know they have the right DNA to work at your company. This helps you realize not only what they can do as individuals, but what they are likely to do as a culture.

What Moneyball did for baseball, people analytics does for business. By replacing old-school patronage networks and gut-based selection decisions with predictive talent analytics, you are going to optimize your biggest asset and bring the best out in your people. 

Sebastian Apelt is a Managing Partner at Above + Beyond Management Consulting.

Would you like to learn more about talent analytics and how it can maximize your team's performance and potential?  We will be hosting a series of speaking engagement on this topic across Canada this Fall. Email us or call us at 1-877-262-2500 option 4 for details. 

 

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