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Talent Score Report
- 5/1/10
Equifax tracks the credit scores of more than 400 million people worldwide. It takes a similar statistical approach with internal talent.
Equifax tracks the credit scores of more than 400 million people worldwide. It takes a similar statistical approach with internal talent.As one of the largest consumer credit reporting agencies in the U.S., Equifax gathers and maintains information on more than 400 million credit holders worldwide. As such, it essentially oversees the financial health of individuals the world over. This is no easy task, especially considering that it’s one Equifax manages with just 7,000 employees.According to Coretha Rushing, chief people officer at Equifax, the demands of the business require an approach to talent management that directly aligns human resources with overall organizational goals.TM: Describe Equifax’s approach to talent management.Rushing: We start with a focus on our business drivers and we use that as a basis to create a strategy not only to go out and source the key skills and talent that we need, but then to figure out a way to develop, maintain and motivate that talent base. In a nutshell, we make sure any focus on talent is acutely aligned with the priorities of our business. We’re a growth business, and we’re always trying to make sure that we not only have talent for our current needs but that we’re very anticipatory around what we think the needs are for growth around the corner.
TM: What processes or programs have you established to improve the performance of Equifax’s entire workforce?Rushing: Starting with the fundamentals, we have grounded our leadership team and employees in a focus on setting realistic and measureable objectives and using a cascading approach. So our CEO [Rick Smith] puts his objectives for the year into the system, and every employee can go in and look at [them], and then each manager below him all the way down to the first-line employee cascades their objectives and links to his. In addition to that, we have a calibration process. Throughout the year, I meet with my manager to talk about my contributions. He or she gives me feedback, and then at midyear or at year-end, and in some cases it may even be quarterly, we go through a calibration process where managers come into a room and we talk about performance and the level of contribution to make sure we’re all using the same standards to assess and evaluate performance. It’s making sure we’re using the same yardstick. And what that’s resulted in is [that in] describing performance, we’re getting closer and closer to having the same standards.
TM: What processes or programs have you established to improve the performance of Equifax’s entire workforce?Rushing: Starting with the fundamentals, we have grounded our leadership team and employees in a focus on setting realistic and measureable objectives and using a cascading approach. So our CEO [Rick Smith] puts his objectives for the year into the system, and every employee can go in and look at [them], and then each manager below him all the way down to the first-line employee cascades their objectives and links to his. In addition to that, we have a calibration process. Throughout the year, I meet with my manager to talk about my contributions. He or she gives me feedback, and then at midyear or at year-end, and in some cases it may even be quarterly, we go through a calibration process where managers come into a room and we talk about performance and the level of contribution to make sure we’re all using the same standards to assess and evaluate performance. It’s making sure we’re using the same yardstick. And what that’s resulted in is [that in] describing performance, we’re getting closer and closer to having the same standards.
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