Data Talent Retention and Management Strategies

CDO Magazine and ComSpark hosted the CDO Midwest Summit 2022, a leading event comprising data, analytics, and technology leaders who shared experiences and best practices with the data community. The session “Data Talent Retention and Management Strategies” features the following speakers sharing their experiences regarding talent retention and policy implementation:

• Steve Muskopf, Director of Data and Advanced Analytics, IGS

• Jon Rike, CIO, City of Dayton

• Nollie Maoto, Chief Data & Analytics Officer, FNB, South Africa

Robert Lutton, VP of Sales & Marketing, Sandhill Consultants, moderates the session.

According to Muskopf, an obvious benefit of in-house development is that existing employees know how the business works, so investing in them could improve retention. With external hiring, he says, “The biggest advantage is you can target the exact skill you are looking for.” He adds that an in-house challenge is when the skills translation is not well received.

Muskopf also points out that hiring talent externally and the interview processes are not perfect. “In the past, we have mitigated that risk a little bit by hiring on contract, but that has fallen out of favor the past couple of years because folks are not willing to come for a contract job,”  he notes.

Maoto shares her thoughts about building data modeling academies for internal talent who want role transitions.  She explains that FNB secured enterprise-wide Udemy licenses to make upskilling easier for its 32,000 employees.

The organization is wary of hiring through consultancy firms because firms target their intellectual property, says Maoto. She adds that with a small resource pool and growing competition, it is critical to fairly compensate both external and internal resources.

“What we have tried to do is develop internally, but then also start to think about how we dig deeper into these talent pools,” Rike explains. He cites the example of setting defined data relationships in the public school system. 

Moreover, the high school students can work for the city of Dayton through its curated scholarship program and become full-time employees upon graduation, Rike adds. “We have got to find this mix of having seasoned professionals that are good at what they do, but also thinking about the future and how we bring in that next round of talent.”

The role of management is to excite people to work when they are losing interest by showcasing the benefits of an action taken, Rike maintains.

Next, he outlines the qualities to look for when hiring talent:

• Natural curiosity

• Patience and persistence

• Good data storytelling 

Muskopf also considers curiosity the number one characteristic to look for when hiring people. In addition to technical skills, Maoto places a high value on communication.

To retain talent, FNB aligns itself with their short, medium, and long-term goals and supports them in achieving those goals, shares Maoto. To retain older employees, the bank encourages them to take other internal positions rather than leave.

The FNB CDAO also refers to upskilling through academies and succession planning as ways to improve retention. The succession planning includes mentorship and a sponsorship program, she says.

Rike is in favor of starting at the basics regarding coaching. He suggests understanding where your people want to be and their personal aspirations and trying to incorporate that into a team framework.

According to Muskopf, employees need constant feedback. He counts on automation to help lessen the burden of employees doing repetitive tasks. 

Regarding metrics, Maoto says data and analytics back all decisions at FNB. 

Rike notes that the City of Dayton does not measure ROI on financial terms. “We are looking at ways to manage that data better to improve quality of life and reduce crime,” he says.

Removing gendered language improves the hiring process, says Maoto. She suggests intentionally hiring more females for AI and machine learning jobs and addressing the pay gap through actions.

In conclusion, Rike addresses the digital equity gap and points out that diversity comes in different forms, and organizations must be open to it. “The city of Dayton has been very adamant about ensuring that we are a diverse organization,” he says.

Watch other CDO Midwest Summit 2022 sessions HERE