TALENT TRENDS 2017 - peopleat.netpeopleat.net/wp-content/uploads/2017/03/PeopleTrends.pdf · TALENT...

TALENT TRENDS 2017 19 insights plus relevant data that can tighten

your talent strategy in a connected world

July 2017

– Lawrence Bossidy, GE

“The only vital valuean enterprise has is

the experience, skills,

– Leif Edvinssson, Consultant and Professorat the University of Lund

“If you run a business, put your employees on top, then your

customers and then your shareholders”– Richard Branson, Founder Virgin Group

– Steve Faktor, Workplace innovation expert

“Great visionwithout great people

is irrelevant” – Jim Collins, Good To Great

“I am convinced that nothing we do is moreimportant than hiring and developing people.

At the end of the day you bet on people, not on strategies”

“Businesses don’t create value, people do!”

– Dominic Bauton, ManagingDirector of McKinsey & Co.

“Company cultureis the single biggest

reason a person succeeds in one company and fails

in another”

innovation andits people’s insights”

Skillsdemandglobal

outlook

Ongoinglearning

Topemployee

perks

Sixcritical jobpositionsto secure

Productivitytools andHR KPIs

Millennialsand GenXworkforce

C-levelcompensation

Leadershipto drive

productivity

The newcorporate

DNA

Workspacelayout

Internaltalent

development

Crowdsourcingplatforms

HRSaaS

Drivers ofchange onemployee

skills

CEO’senhanced

skills

Skillsof thefuture

Employeeswork

reconfiguration

TALENTTRENDS

2017

Skillsshortage

by country

Peopleand

strategy

Source: KPCB, 2015.

1

Performance

Culture + morale

ExecutionVision

Planning

Dreaming

Budgeting

People are for...Strategy is for...

Quality assurance

People are the most important drivers of successful strategy executions

1

Source: Aaron Sachs & Anupam Kundu, “The Unfinished Business of Organizational Transformation”, November 2015.

2

2

Most companies are adapting their DNA to foster collaboration and engagetheir people

From...

To...Transparency

Privacy

Empowerment

ControlHierarchies

NetworksNetworks

Profit

and purpose

and purpose

Experimentation

Planning

Companies must attract and retain new talents to stay competitive

Source: World Economic Forum, “The Future of Jobs”, January 2016.

3

3

Technological

34%

26%

22%

44%

23%

23%

16%

13%

12%

14%

12%

9%

Mobile internet,cloud technology

Processing power,Big Data

Internetof things

Sharing economy,crowdsourcing

AI, robotics,autonomous transport

Changing natureof work, flexibility

Middle class inemerging markets

Climate change,natural resources

Consumer ethics,privacy issues

Young demogrphicsin emerging markets

Women´s economicpower, aspirations

Demographic and socio-economic

Employee Skills: Top Change Drivers into 2025(% of respondents)

New energysources

Source: Jacob Morgan, “The Future of Work: Attract New Talent, Build Better Leaders, and Create a Competitive Organization”, August 2014.

4

4

Work anytime

Work anywhere

Use any device

Rely on collaboration technologies

Focus onadaptative learning

FUTURE

Technology and connectivity adoption has changed how employees work

PAST

Work 9-5

Work in a corporate office

Use company equipment

Rely on email

Focus on knowledge

Source: World Economic Forum, “The Future of Jobs”, January 2016.

5

5

Business, finance, computer science, engineering and math are increasinglysought-after skills

Global Employment Skills Demand, 2015-2020(job changes, 000)

Decline Growth

-4,759 -1,609 -497 -151 -109 -40 +66 +303 +339 +405 +416 +492

Office andadministrative

Manufacturingand production

Constructionand extraction

Arts, design,entertainment,

sports and media

Legal Educationand training

Sales and related

Architecture andengineering

Computer andmathematical

Management

Businessand financialoperations

Installationand

maintenance

Security/compliance/governance 26%

Database administration 25%

Web development 26%

Help desk/tech support 35%

Mobile applications anddevice management 21%

Programming /application development 35%

Business intelligence/analytics 26%

Cloud/SaaS 26%

Big Data 25%

Project management 25%

Source: The Economist, “Lifelong Learning”, January 14, 2017 Edition. Thomas Friedman, “Thank you for Being Late”, 2016. Forbes, “Computerworld’s 10 Hottest Tech Skills for 2017”, December 27, 2016.

6

6

New skill-sets become critical in the job market

Top 10 hot skills 2017(% of respondents that plan to

hire in the next 12 months)Must-have skills for everyone Most demanded skills in 2016

Dataanalysis+372% in 5 years

Datavisualization+2,574% in 5 years

CodingIn the US, 50% of the highest-paid job listings require coding skills

People skills(even for the geeks!)

EmpathyCreativity

Problem solving

Communication

Quick learningcurve

Strong fundamentalsin writing, reading,coding and math

Critical thinking

Virtual collaboration(work productively with virtualteams / collaborate with technology)

Entrepreneurshipand improvisation

Lifelonglearning habits

Top10 Countries Facing the Skills Shortage, 2014

of core skills will changebetween 2015 and 2020

of jobs will require some typeof technical training by 2020

Source: World Economic Forum, “The Future of Jobs”, July 2016. The Economist, “Lifelong Learning”, January 14, 2017 Edition.

7

7

Many countries are feeling a workforce squeeze

35%

75%

Brazil 63%

Australia 40%

Greece 41%

India 64%

Italy 34%

Japan 81%

Mexico 44%

Turkey 63%

United States 40%

Germany 40%

Source: PwC, “20th CEO Survey”, 2017. Thomas Friedman, “Thank you for Being Late”, 2016.

9

9

CEOs need enhanced skills to attract, lead, motivate and monitor talentwhile accelerating value creation

of CEOs worry skillsshortages could impairtheir companies’ growth

The role of a leader is to help people facereality and mobilize them to change

as their environment transforms −to ensure thesecurity and prosperity of their community

Tomorrow’s business leaders will need to collaborate widely and embracedecentralized decision-making

77%Data-driven decision-making agility

Forward and innovational thinker

Inspirational with clarity

Adaptability / open to change

Tech-savvy

Risk taker

Capacity to attract and retain top talent

Source: World Economic Forum, November, 2016. www.entrepreneur.com - “The Difference Between a Leader and a Boss”, December, 2016.

10

10

Good leadership drives emplyee motivation and productivity

BOSS LEADERVS.

“People leave managers,not companies”

70% of an employee’smotivation is influenced

by his manager

Motivated employees are31% more productive

Drives employeesDepends on authorityInspires fearPlaces blame for breakdownKnows how it’s doneTakes creditCreates followersSays “Go!”

Coaches employeesDepends on goodwillGenerates enthusiasmFixes the breakdownShows how it’s doneGives creditCreates leadersSays “Let’s go!”

Outsource tools and creativity for speed, freshness and savings

Business expert solutions bidding platform • Over 25K business experts• Top talent from MBA professionals• 99% avg. satisfaction rate

Translations by native speakers worldwide• 20K native speakers in 140+ countries• Translated 130M words across 35+ languages• 95% of orders are started within 120 minutes and completed on avg. in 1 hour

11

11Source: People@ research on each platform, 2017.

Crowdsourcing platform for computer programming• Community of 1M+ design and technology experts • 7K+ crowdsourcing challenges per year• $80M annually to the community

Global freelancingmarketplace

• 12M registered freelancers• 3M jobs posted annually, generating $1B+ USD• 5M+ registered clients

Community of creatorssolving brands’ challenges• 374K creative individuals from 174 countries• 117K ideas submitted in 1,097 contests• $7M Euros awarded in prizes

Graphic design hub (logo, web)• Submit a project, then designers compete to work on it• Community of 1.1M+ designers• 365K customers

Largest freelancer marketplace• 23M registered users• 11M total jobs posted

Increase C-level share of performance-based compensation

2015

Annual bonus

Stock awards

Stock options

Other2010

30.7%

18.6%

31.4%

11.6%

35.0%

21.6%

20.9%

12.8%

7.7%9.7%

12

12Source: The Conference Board, “CEO and Executive Compensation Practices”, 2016 Edition, May 2016. Note: Based on Russell 3000.

PerformanceBased

Base salary

Source: Glassdoor, “Q3 2015 US Employment Confidence Survey”, 2015.

13 Perks drive employee engagement and productivity

Healthcareinsurance

40%

Tuitionreimbursement

Employee developmentprograms

Vacation /Paid time off

37%

Performancebonus

35%32% 31%

Paid sickdays

Employeediscounts

19% 19% 18% 17%

Flexibleschedule

Office perks(i.e., free lunch, casual dress)

30%

Retirement Plan/Pension

13

Perks Employees Prefer over Pay-Raises (% of respondents)

of employees would trade a salary increase for certain perks56%

Source: Upwork, “The 2015 Millennial Majority Workforce Report”, USA, October 2014. HR, “6 Millennial Retention Strategies to Adopt in 2015”, January 2015.

14

14

expect to stay in a jobfewer than 3 years

NarcissisticI only think of myself

Open to change

Creative

MillennialsMillennials... (16-34)

Confident

Team player

Money driven

would rather spend money on an event than a purchase

will choose workplaceflexibility over pay 27%

46%

80%

72%

66%

65%

91%

78%

45%

Generation X(35-55)

20%

28%

34%

35%

73%

54%

54% have already started their ownbusiness or want to start one

Younger generations have new ways of working and a different set ofexpectations and motivations

Source: The Economist, “Lifelong Learning”, January 14, 2017 Edition.

15

15

Ongoing training and learning is key to marketplace relevance

Online Courses and Registered Users(in millions of users)

Cumulativenumber ofcourses

Courses by Subject (2011-2017)

1 310

18

36

57

1,300

1,200

700

650

650

620

450

450

500

250

Business and management

Computer science and programming

Science

Social sciences

Humanities

Education and teaching

Health and medicine

Art and design

Engineering

Math

2011 2012 2013 2014 2015 2016

6.8K

Source: Cornerstone onDemand, “The ROI of Talent Management”, 2013.

16

16

HR SaaS adoption supports life-cycle management

Onboarding

SpecializedRecruiting Tools

Succession

PermanentLearning

Compensation

PerformanceDatabase

Communication(bi-directional)

Source: Kronos, “Top Workforce Trends for 2017”, January 2017.

17

17

Business analytics are a must when it comes to turnover, engagement,customer satisfaction and productivity

Typical HR KPIsProductivity Tools

Info Sharing

Communication Project Management

Customer RelationshipManagement (CRM)

Social Media

Turnoverrate

Reasons for leaving

the company

Happiness/satisfaction

index

Cost perhire

Employeeengagement

rate

Salaries benchmark vs. competitors

Productivityrate

Performance(% of employees below standards)

Training costper employee

Onboardingtime/cost

First-year voluntary

termination rate

Avg. time to fill job vacancy

Pay

Source: Wharton, People Analytics online course in 2016. Cornerstone onDemand, 2016.

18

18

New hires...Employee Turnover Predictors (inverse correlation)

Are more likely to performworse than internallypromoted employees 270% more likely to get lowest rating

Supervisor relationshipJob satisfaction / Role conflictPromotion opportunitiesCo-worker satisfaction / Stress

Require three years to reach internally-promoted-employee performance levels

Receive 18% more compensation over those promoted internally (7 years required to close pay gap)

correlation+

correlation-

6 months’ salary for low-train positions / 12 months for high-train positions!

HIRINGCOST

COST OF TURNOVER TRAINING OPPORTUNITY

COST= + +

0.25

0.22

0.16

0.13

0.11

Internal talent development –instead of new-hires– provides greatercorporate value

Plants andgreenery

Natural light

Temperatureand air quality

Private spaces(to support focused work)

Brightcolors

Lounge areasfor causalinteraction

Outsideviews

Source: PSFK, “The Future of Work”, 2013. Forbes - Entrepreneurs, 2013. Photo WeWork.

19

19

Office layout supports different work styles and boosts productivity

9 out of 10people believe their workspace

quality affects attitudes and increases productivity

Open spaces(to promote teamworkand communication)

ABOUT : we build your future skills

People@ is a leading consulting firm specialized in human capital development within a connected world anda ever-shifting marketplace.

With 15+ years of proven experience, our skills include robust strategic planning and executive search backgrounds.We focus mostly on industries such as: legal, media, technology, energy, hospitality, financial and services.

Our mission is to become the #1 human capital partner for our clients, while helping them aggregateand nurture the right structure and skills.

20

EXECUTIVESEARCH

MANAGEMENTASSESSMENT OUTPLACEMENT

Candidate profiling and optimal job design

Key personnel industry mapping

Search, filtering, reference checking and assessments

Inbound process and training

Structure assessment, design and recommendations

Talent skills and human capital process assessment

HR systems and mapping reports

Outplacement strategy

Outbound office services

Individual coaching

Contact+52 (55) 5280 [email protected]

Julio Verne # 89-303, Polanco Reforma, C.P. 11550 Miguel Hidalgo, Mexico Citywww.peopleat.net

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