22 The world of work is changing … We can help. {We’ve been experts for 6 decades}
-
date post
21-Dec-2015 -
Category
Documents
-
view
225 -
download
5
Transcript of 22 The world of work is changing … We can help. {We’ve been experts for 6 decades}
22
The world of work is changing…
We can help.{We’ve been experts for 6 decades}
3
Winning in the changing world of work requires A New Way of thinking about and approachingyour workforce.
3
4
Drivers of Change in Today’s Uncertain World
The Talent Mismatch is deepening as the working age population declines and the nature of work changes.
4
Individual Choice will be exercised by those with the skills that are most in demand.
Technological Revolutions have the power tochange where, when and how we work.
Rising Customers Sophistication requires businesses to work in a new way, driven by innovation and delivering greater value and efficiency
5
A Less-Fluid Workforce
Manufacturing Heyday Dominant management model, circa 1959
• Many jobs require similar skills• Workforce skills are well matched to the
workplace• Workforce mobility is increasing• Competition for jobs is high as
population booms
Knowledge-Based Jobs Growing workplace reality, circa 2009
• Many jobs require specialized skills• Many people who want jobs lack
the appropriate qualifications• Many people with appropriate qualifications
are in the wrong geographic location• Despite high levels of unemployment
broadly, competition for qualified people grows
• The economy has changed faster than the workforce can or has adapted
5
World of Work Trends: Talent Mismatch
66World of Work Trends: Talent Mismatch
Talent MismatchThe skills mismatch will intensify as pressure to find the right skills in the right place at the right time will increase as working age populations decline, economies rebound, emerging markets rise, and the nature of work shifts.
7
The Talent Mismatch
Lack of resources creates tension on the high-skills market
Oversupply of low or wrongly skilled resources generates under- employment and unemployment
Demand for skill
Supply of skill
Source: Confronting the Talent Crunch: 2007, A Manpower White Paper
7World of Work Trends: Talent Mismatch
Talent Mismatch: Top 10 Global Hardest Jobs to Fill
1. Skilled Manual Trades2. Sales Representatives3. Engineers4. Drivers5. Accounting and Finance Staff6. IT Staff7. Management/Executives8. Teachers9. Administrative Staff10. Machinists
8
Source: Manpower Inc. Talent Crunch White Paper www.manpower.com/researchcenter
30% of employers worldwide indicated difficulty filling positions
99
On-Going Paradox: Open Jobs . . . and Unemployment
Source: Business Week, based on data from the Bureau of Labor Statistics as of 09-09
.
World of Work Trends: Talent Mismatch
Global Working Age Population Data
• Number of People 65+ years:
– Year 2000 – 35 Million
– Year 2010 – 40.2 Million
– Year 2020 – 54.6 Million
– Year 2030 – 71.5 Million
– Year 2040 – 80 Million
– Year 2050 – 86.7 Million
10World of Work Trends: The Talent Mismatch
11
Broadening the Search for Talent
Engage an aging workforce– Only 14 % of employers
have specific strategies in place to recruit older workers
– Only 21% of employers have strategies in place to retain their older workers
Invest in young workers – Customized work experiences that leverage the
unique attributes of Generation Y will increase their contribution and engagement
11World of Work Trends: Talent Mismatch
Sources: Manpower White Paper
Prevalence of Disability by Age Range
• 15-24 Years – 10.5% have a disability• 25-44 Years – 11.1% have a disability• 45-54 Years – 19.4% have a disability• 65-69 Years – 38.4% have a disability• 70-74 Years – 46.9% have a disability• 75-79 Years – 53.9% have a disability
12World of Work Trends: The Talent Mismatch
Demographics
• 51.2 million (18.1% of the US population) have a disability
• The next largest minority is the Hispanic population (13.3% of the US population)
13World of Work Trends: The Talent Mismatch
14
Broadening the Search for Talent
Pave the way for women– In 2008, the International Labor Organization
found that the global employment-to-population ratio was 49.1% for women in 2007 compared to 74.3% for men.
– Around the globe, more women than men are graduating from college
Consider talent migration – There are over 200 million immigrants in the
world today– about 3% of the global population– Emigration rates tend to be highest in the most
educated segments of the population– Move Work to People Virtually and People to
Work Geographically
14World of Work Trends: Talent Mismatch
Source: Education at a Glance: 2007, OECD 2007.
15
Broadening the Search for Talent
Make versus buy– Hire at skill levels below the anticipated need– Invest in development and retention
Do more with less– Increase productivity through higher levels of
employee engagement– Create a compelling employee experience
Share scarce skills– Contract with key individuals on an as-needed
basis
15World of Work Trends: Talent Mismatch
1616
Implications
Talent Mismatch
Organizations need an agile talent strategy to attract, engageand retain the talent required to execute their business strategy
Critical shortages will intensify in key skill sets
Demographic shifts will increase the pressure to use the talents of all individuals
Divide between the skilled and unskilled workforce is accelerating
Continuous training and development of the workforce will be required in order to maintain a job-ready workforce
World of Work Trends: Talent Mismatch
Many options will exist for building the workforce
1717World of Work Trends: Individual Choice
People with skills that are most in demand will exercise choice in selecting work arrangements that best suit their values and preferred “one- size-fits-one “ work experiences.
Organizations will be challenged to customize flexible work practices that attract, motivate and engage multiple generations in the workforce.
Individual Choice
1818
Drivers of Demand for Choice
Leverage in critical skill sets– Individuals with key skills will be increasingly able to
dictate terms
World of Work Trends: Individual Choice
Changes in expectations– In many societies, social norms have
been changed to encourage individuals to choose careers that work for them
Technology-enabled work options– New technologies are making it easy to
accomplish the same workload from anywhere and at any time
19
Boomer
Born 1946-1964
Each generation has different assumptions about how the world works and is currently in a different life stage that will affect what they demand from work.
19
A Look at Four Generations
65-82 46-64 30-45 15-29
World of Work Trends: Individual Choice
Traditionalist
Born 1928-1945
Generation X
Born 1965-1979
Generation Y
Born 1980- ~1995
2020
64% believe these policies
increase retention rates.
Why Flexibility Matters?
World of Work Trends: Individual Choice
76% of organizations say flexible workarrangements boost employee morale and
Source: Manpower, “Talent Crunch: 2008”, United States Department of Labor, HR Management, Institute for Corporate Productivity,
Today’s student will have 10–14jobs by the age of 38.
2121
What Kind of Flexibility?
World of Work Trends: Individual Choice
Flexibility in career choices– Skilled workers will define accomplishment
beyond the traditional measures of career success, and they will expect their employer to accommodate and encourage life priorities outside of work
Flexibility in how work is compensated– Skilled workers will demand a holistic approach
to compensation, with valued compensation ranging from more money, to more time off, to more time to innovate and create at work
Flexibility in how and where work gets done
– Skilled workers will desire the ability to perform their jobs where, when, and how they want
2222
Collaborative, flexible, and innovative work culture– Leveraging new technologies
– Team-based and outcome-oriented processes
Meeting the Demands of Skilled Workers
World of Work Trends: Individual Choice
Engagement– Know your employees and the reason for their commitment
– Understand their life priorities and challenges
– Create work practices that meet them where they are in life
Compelling leadership and strategy – Clearly defined and communicated
– Aligned around your company’s mission and impact
2323
Implications
The Individual Choice
World of Work Trends: Individual Choice
Skilled individuals have a wide variety of work preferences, needs and expectations
Companies need work practices and employee experiences that will attract and engage talent who will like working in your organization
Individuals will take greater “ownership” of their careers and development
2424World of Work Trends: Technological Revolutions
Technological developments allow new ways of getting work done – increasing the importance of coordination and collaboration.
Rapid and unfiltered communication via online communities increases the importance of reputation management for all stakeholders.
Technological Revolutions
2525
Rapid Growth in Social Technologies
World of Work Trends: Technological Revolutions
Linkedin founded in2002 Flickr
founded in
2004
2626
Connecting is Easier Than Ever
There are over 100,000 web sites that invite individuals to post their opinions about companies
World of Work Trends: Technological Revolutions
More than 50% of the world’spopulation uses a mobile phone
The number of people in theworld with access to the Internetis up over 300% since 2000
2727
Business is Just Beginning to Harness the Power of Web 2.0
However, to effectively manage and engage today’s
skilled workforce, Web 2.0 must be utilized to foster
collaboration and creativity
World of Work Trends: Technological Revolutions
Despite their growing use and social importance,
Web 2.0 technologies are often viewed as a distraction
rather than a productivity tool
Even for those companies that have recognized
the potential of 2.0 technologies, implementation
and adoption have proven difficult
2828
World of Work Technology Revolution
Collaborate to Innovate– Innovation and creativity
can come from anywhere
World of Work Trends: Technological Revolutions
The Transparent Brand– Managing your reputation
in the age of social networks
New Employee Practices– Attract, select, train, and “retain”
in a whole new way
2929
Implications
Technological Revolution
World of Work Trends: Technological Revolutions
Technology is changing how we communicate, collaborate and innovate
Rapid, transparent links among individuals increase productivity and scrutiny of both individuals and corporations
For some, technology is changing the definition of work from a “place to go” to an “activity” we do anytime, anywhere, anyplace
3030
Rise of CustomerSophistication
30
Customers’ expectations around value will rise. Customers are more global and sophisticated, increasing the complexity of their relationships with organizations and the specificity of their value demands.
Customers have increased access to information, to networks of experts, to lower cost channels which increases pressure on companies to deliver value – faster.
World of Work Trends: Rise of Customer Sophistication
3131
Customer Generated Content
World of Work Trends: Rise of Customer Sophistication
Apple, iPhone Amazon.com
3232World of Work Trends: Customer Sophistication
Changing Challenge: From Scale to Intelligence
• Industry leaders developed, improved and distributed products in scope and scale never imagined
• Work is divided across hierarchical boundaries and managed through bureaucratic systems
• Job descriptions are clear and consistent and reward tied to loyalty – “gold watch”
• Careers are managed by employers
• Industry leaders are transforming products to customized services and innovating faster than ever imagined
• Teams are formed and mobilized around knowledge and purpose rather than boundaries
• Career management is outsourced to its owner
Twentieth Century Twenty-First Century
3333
It’s a Mindset Change
World of Work Trends: Customer Sophistication
• Bureaucratic
• Rigid
• Product
• Managed
• Replicate
• Collaborative
• Flexible
• Knowledge
• Transparent
• Innovate
3434
It Requires a Behavioral Shift
World of Work Trends: Customer Sophistication
• Mobilizing work
• Directing workers
• One size fits all
• Manage people
• Task alignment
• Tightly defined jobs
• Inside – out
• Mobilizing knowledge
• Engaging colleagues
• One size fits one
• Manage outcomes
• Conceptual alignment
• Flexible purposeful teams
• Outside – in
3535World of Work Trends: Rise of Customer Sophistication
Implications
Rise of Customer Sophistication
The ability to mobilize intelligence, manage in a complex environment, and continuously improve core businesses will be key to capitalizing on trends
Companies’ practices are under increased scrutiny; therefore,they must stand up to total transparency
Intensified price / value compression puts increased pressureon the productivity of a company’s workforce
Responses and solutions to the market will need to be:• Faster• More agile• Differentiated• Global
Companies’ success is no longer only based on access to capital – now, talent has become a key differentiator
3636World of Work Trends: The Big Picture
The world of work is changing faster than ever.
Companies need a deliberate workforce
strategy.
The Big Picture
3737
• Which of these trends is having the most impact on your organization currently?
• What are your key workforce challenges?• How do these trends challenge legacy mindsets in your
organization?• How does your current talent strategy reflect the
changing world of work?• What do you need to do to ensure leadership is aligned
around the key workforce challenges required to drive the desired business results?
• What do you need to successfully drive a talent strategy that sustains the business now and in 5 years?
Discussion Topics:
World of Work Trends