Evaluating what a person did in the past is not the best way to predict what they will do in the future. Traditional talent assessments look at an individual’s capabilities, experience, and potential to determine how well they are performing in their job and what they can do to improve. By contrast, a value forecast is a forward-looking prediction of the likelihood that an individual in a role can execute the jobs to be done and deliver the value expected on time. A value forecast analyzes both the demand for talent (work and roles) and the supply of talent (individuals) in an organization at critical points of value creation to predict the probability such a match will succeed.

By focusing on future outcomes rather than past performance, value forecasting helps organizations better align their talent where it matters most to achieve their strategic goals. In this session, leadership and assessment experts will (1) discuss the advantages of this unique approach to talent evaluation and management, (2) evaluate the benefits and considerations to scaling and standardizing this process, and (3) review its potential to close talent gaps and expand opportunities for new and emerging leaders. The following key areas will be discussed:

Advantages of Value Forecasting

• Forward-Looking Predictions: Unlike traditional methods, value forecasting anticipates future performance, providing a proactive approach to talent management.

• Enhanced Alignment: By focusing on work and roles within the organization, value forecasting ensures better alignment of talent with strategic objectives.

• Dynamic Assessment: This method considers the evolving nature of both roles and individuals, making it adaptable to changing organizational demands. Considerations with Scaling and Standardizing Value Forecasting

• Data Requirements: Implementing value forecasting requires access to quality data, robust data collection and expert analysis capabilities

• Bias, Sensitivity, and Fairness: Quality development and validation processes are critical to ensuring that the impact of this type of assessment matches the intent – which is to increase opportunities for the broadest talent pools possible.

• Continuous Improvement: Value forecasting is not a one-time solution but an ongoing process that requires regular tracking, updating and refining to remain relevant and effective.

The potential of value forecasting to transform talent management is immense. This innovative approach provides organizations with a more accurate, objective, and holistic process for both evaluating talent and driving value creation.