Aarp Talent Management Webinar 06-23-10
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Transcript of Aarp Talent Management Webinar 06-23-10
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AARP Ex ec ut ive Ins ights
Webinar Ser i es
Webcasted on Wednesday, June 23, 2010
2:00 p.m. to 3:00 p.m. EDT
Talent M anagem ent for an Age Diverse Work forc e
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AARP 2
HRCI Cred it s
HR Certification Institute Pre-Approved Program:
This Webinar is pre-approved for one strategic credit hourfor PHR, SPHR, and GPHR recertification. Program IDinformation can be obtained sending an email [email protected] after you finishing reviewingthese slides. Be sure to specify the title of this Webinar in
your request.
mailto:[email protected]:[email protected] -
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AARP 3
Learn ing Objec t ives
Update on the economy impact on the changingdemographics of the workplace
Q3 2010 Hiring projections
Findings/Implications from the Sloan Center on Aging &Work research study, The Pressures of TalentManagement
Strategies and industry practices that have been adopted
by forward thinking organizationsThought process for implementing an age diverse talent
management strategy
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Todays Present ers
Deborah Russell
Director, Workforce IssuesAARP
Kathy Lynch
Director, Employer EngagementSloan Center on Aging & Work
Boston College
Jill Braceland
Diversity & Work Life SpecialistMitre Corporation
AARP
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Ec onomic Unc ert a in ty
Cont inues
Unemployment remains near 27 year high
Jobless claims, consumer spending, and home sales
weakBudget cuts in European countries
Financial Markets are fragile
Fed expected to leave Policy unchanged
Slight improvement in hiring outlook
AARP 5
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U.S. Work forc e Dem ographic TrendsAging of the U.S.workforce: 76mBaby Boomers
Lower birth ratesFour generations
working side-by-side
High talentamong the
unemployed
Concernedabout stability
Reversal ofretirement trends
Workforce 2010
AARP
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AARP 7
Talent Pressures, Economic Pressures,
Age Pressures
Moving from Awareness to Action
W e d n e s d a y , J u n e 2 3 , 2 0 10
K a th y L y n c h
D ir e ct o r , E m p l o y e r E n g a g e m e n t S l o a n C e n t e r o n A g i n g & W ork
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Sloan Cent er on Aging &Work
Founded in 2005: Alfred P.Sloan Foundation Grant
Rigorous Research
Evidence for Action Quality of Employment
Prism of Age
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10 Countries 30 Worksites2010 Data Collection
Employer
Learning
Circle
Beyond Age Workshops Age Diversity + Team Innovation =
Competitive Edge
Current Areas of Foc us
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The Cent er s
Workp lace Im pac tModel
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Awareness
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Older Work ers are
Work ing LongerPercent of Age Groups in Labor Force
0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00%
25-34
35-44
45-54
55-64
65+
Age
Percent of Population
2010
2000
Toosi, M. (2002, May). A Century of Change: The U.S. labor force, 1950 2050. Monthly Labor Review May, 125, 15 28.
Bureau of Labor Statistics (BLS). (2010) [Analysis of US Current Population Survey.] Unpublished raw data.
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Resear ch tells us:
40% of employers anticipateageing of the workforce willhave a negative/verynegative impact on theirbusiness over the next 3years.
Almost 40% of employersreport a sense of age orage/economic pressure.
2.0%
37.8%
49.1%
10.1%
1.0%
Very Negative
Negative
No Impact
Positive
Very Postive
Sweet, S., Pitt-Catsouphes, M., Lynch, K., and Whalley, E. (2009, October) Talent Management Study: ThePressures of Talent Management
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But stil l a disconnect:
68% reported not having analyzed their workforce demographics.
77% stated that they have not analyzed the projected retirementrates of their employees.
Sweet, S., Pitt-Catsouphes, M., Lynch, K., and Whalley, E. (2009, October) Talent Management Study: ThePressures of Talent Management
12.6%
10.0%
13.1%
25.7%
28.8%
40.0%
46.7%
36.6%
39.7%
42.7%
38.1%
39.5%
37.2%
29.8%
36.6%
36.0%
33.3%
25.6%
25.1%
17.4%
18.9%
14.2%
14.2%
10.9%
10.6%
6.5%
5.4%
4.7%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Assessed supervisors' ability
to anticipate/plan f or staf fing
needs
Assessed competency sets
of employees
Assessed skills organization
anticipates needing
Developed succ ession plans
Anaylzed demographic
makeup
Assessed employee career
plans
Analyzed projected retirement
rates
Not at all
Limited extent
Moderate extent
Great extent
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Why?
http://www.google.com/imgres?imgurl=http://www.ccp.edu/vpst-aff/studentlife/Career%2520Services/question-mark_cartoon.jpeg&imgrefurl=http://www.ccp.edu/vpst-aff/studentlife/Career%2520Services/Career%2520Services%2520Index.html&usg=__HlIXK_wJwD0aDMmKZwgXA6xp40I=&h=350&w=333&sz=79&hl=en&start=16&itbs=1&tbnid=oQITtXy3bZeilM:&tbnh=120&tbnw=114&prev=/images%3Fq%3Dquestion%26hl%3Den%26safe%3Dactive%26sa%3DX%26gbv%3D2%26tbs%3Disch:1 -
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Assess t he w hat !
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1. What is Age?
2. What is the context of the age impact on yourorganization?
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The Pr ism of Age
Chronological Age
Generational Age
Life Events Age
Organizational Age
Occupational Age
Relative Age
Social Age
Physical Age
AGE
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What i s t he cont ex t ?
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Em ployer groups by im pact o f economicpressures and ag ing w ork fo rceN=646
27.9%
11.9%
36.0%
24.2%
Age-Economically Pressured
Age Pressured
Economically Pressured
Lower Pressured
Pressure
Combinations :
One in fouremployers in 2009reported that ageand economic
pressures wereworking in tandemto negativelyimpact theiroperations.
Sweet, S., Pitt-Catsouphes, M., Lynch, K., and Whalley, E. (2009, October) Talent Management Study: ThePressures of Talent Management
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In your op in ion , to w hat ex t en t does your o rganiza t ionhave programs or po l ic ies for the engaging of o lder wo rke rs?N=669
2%
0%
1%
2%
65%
69%
66%
53%
33%
31%
33%
44%
0% 20% 40% 60% 80% 100%
Lower Pressured
Economically
Pressured
Age Pressured
Age/Economically
Pressured
Excessive policies/programs
Just the right number ofpolicies/programs
Too few policies/programs
Sweet, S., Pitt-Catsouphes, M., Lynch, K., and Whalley, E. (2009, October) Talent Management Study: ThePressures of Talent Management
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Approx im ate ly w hat por t ion o f your em ployees (t h ink ingabout bot h fu l l -t im e and par t -t im e employees) c an do thefo l low ing?N=644
28.3%
11.5%
9.8%
7.5%
7.8%
9.0%
16.1%
14.7%
7.0%
40.8%
58.5%
54.1%
37.0%
48.2%
21.9%
13.8%
21.4%
48.6%
38.9%5.1%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Extended Caregiving
Leaves
Request Change in
Start/Quit Time from Time to
Time
Choose Schedule that
Varies from Typical
Take Education Leave
Transfer to Job With
Reduced
Pay/Responsibilities
All/Nearly All
Most
Some
None
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The Age/Economic Pressure Tool
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Where does your
organizat ion f i t ?
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How does your
organizat ion c om pare?
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What does your
quadrant m ean?Quadrant B
Lower Age, Higher Economic Pressure Identify other organizational strategies impacted by the economy.
Consider whether your organization is planning a workforce reduction &look at demographic projections to support this strategy.
Has knowledge management been included in discussions? Consider doinga complete criticality assessment.
Consider which business areas and positions are most at risk for talentshortages.
Identify and target specific risk points that can help you to better allocateresources.
Downsizing may offer opportunity to consider traditional staffing and trainingmodels.
Consider if there are opportunities for employees to re-career within yourorganization.
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What does your
quadrant m ean?Quadrant D
Higher Age, Lower Economic Pressure Identify potential partners within HR and organizational development.
Consider who else is looking at age demographics. Identify how your organizations age demographics align with your
organizational goals.
Consider if particular areas or occupations are at high risk; engage partnersoutside HR.
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Work forc e PlanningSt rat eg ies by PressureGroup
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Work forc e Planning
St rat eg ies by PressureGroup
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Work forc e PlanningSt rat eg ies by Pressure
Group
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MITRE Talent Management
AARP Executive Insight Series
June 23, 2010
MITRE 33
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Goal 5: Foster a World-ClassWorkforce
We must attract, develop, and retain the best andthe brightest people who are passionately
committed to serving the public interest.
MITRE 34
Corporat e Mandat e
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National shortage of engineering talent
Classified work with Federal government
o Must be US Citizen
MITRE 35
MITRE Const ra int s
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Workforce Development Briefing to Officers
May 2010
Initiatives: Assemble internal/external current and historic
demographic data to better understand whereweve been, where we are, and where we want
to go Execute deep dive analysis into Centers to
capture future human capital priorities
MITRE 36
St ra t eg ic Deve lopm ent
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Interview Officers
Defining what we want in the futureAnalyze current and future demographics
MITRE
St eps Taken
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Talent needs for future success include:
The ability to leverage diversity, especially
balancing newer graduates with senior expertise. A culture that fosters innovation, as well as
transferring within and across organizational lines. The ability to build consensus across multiple
groups.
MITRE
Off ic er In t erv iew
Resul ts
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To place more emphasis on innovation throughan integrated and synthesized approach to work
and leadership. To never undercut, but increase the flexibility for
continuous learning.
To foster and leverage the emerging workforce
with collaboration and knowledge sharing skills
MITRE 39
What w e w ant i n t he
fu tu re
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Average highest-degree level unchanged over 25years
Increasing proportion of staff reaching typical
retirement age
Attrition among staff of typical retirement age hasbeen stable or declining
In 2009, over 50% of our hires were from internalreferrals
MITRE
Demographics
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Extend the dialogue to next level ofmanagement within the Centers
Re-assess recruiting for diversity and youngergeneration
Focus groups for quiet needs
Increase STEM activities
MITRE
WORK IN PROGRESS
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Embrace diversity of thought
Expand mentoring programs, including seniormanagement with high potential personnel
Add training in leading diverse and multi-generational teams
MITRE
WORK IN PROGRESS
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AARP 43
Business Case for Mat ure Work ers
69% of mature workers not retired say they will workduring retirement
Companies may avoid talent crunch if mature workerscontinue working longer than previous generations forboth financial and personal reasons
Companies may find themselves competing for theservices of older workers, and will need to offer the kindof rewards that 50+ employees want and expect
Mature workers are more motivated than others toexceed expectations on the job
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AARP 44
Business Case for Mat ure Work ers
Older workers are more motivated to exceedexpectations on the job than their younger counterparts
High replacement costs equal at least 50% of anindividuals salary
Cost benefits of avoiding turnover can exceedcompensation and benefit costs of older workers
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To continue the conversation:
Kathy LynchSloan Center on Aging & Work
ADDITIONAL R ESOURCES:
Download Age/Economic Pressure Map
The Sloan Center on Aging & Work will bereleasing additional reports this month, including:
- Health Care & Social Assistance Sector- Retail Sector- Accommodations & Food Services Sector
Additional reports, to be released throughoutJuly 2010, will include the following industrysectors: Construction; Professional, Technical& Scientific Services; Finance & Insurance;Wholesale; and Transportation & Warehousing.
For more information on the talent management
study and selected findings from our reports,please visit:
http://www.bc.edu/research/agingandwork/projects/talentMgmt.html
mailto:[email protected]://www.bc.edu/research/agingandwork/all_feeds/2010-01-14.htmlhttp://www.bc.edu/research/agingandwork/projects/talentMgmt.htmlhttp://www.bc.edu/research/agingandwork/projects/talentMgmt.htmlhttp://www.bc.edu/research/agingandwork/all_feeds/2010-01-14.htmlmailto:[email protected] -
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AARP 46
Talent ManagementResources
Workforce Assessment Tool A tool to strengthen yourability to recruit and retain talent
Workforce Management Training Modules Customizable training you can use to increase thecompetencies of your staff
Employer Resource Center See section on Recruitment
National Employer Team A recruiting source targetingexperienced talent
Visit www.AARP.org/erc for these and other resources
http://www.aarp.org/erchttp://www.aarp.org/erc -
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Talent ManagementResources
AARP SmartBrief E-newsletter update on changing workforceissues and recruiting strategies
http://www.smartbrief.com/aarp/
Online Job Sites A list of job sites that appeal to experiencedworkershttp://bulletin.aarp.org/yourmoney/work/articles/job_search_resources.html
Recruiting Practices: 2008 AARP Best Employers for Workers Over
50 Article summarizing the winning recruiting strategieshttp://www.aarp.org/money/work/best_employers/articles/recruiting_practices_2008_b
est_employers.html
http://www.smartbrief.com/aarp/http://bulletin.aarp.org/yourmoney/work/articles/job_search_resources.htmlhttp://www.aarp.org/money/work/best_employers/articles/recruiting_practices_2008_best_employers.htmlhttp://www.aarp.org/money/work/best_employers/articles/recruiting_practices_2008_best_employers.htmlhttp://www.aarp.org/money/work/best_employers/articles/recruiting_practices_2008_best_employers.htmlhttp://www.aarp.org/money/work/best_employers/articles/recruiting_practices_2008_best_employers.htmlhttp://bulletin.aarp.org/yourmoney/work/articles/job_search_resources.htmlhttp://www.smartbrief.com/aarp/