The Talent Opportunity - newexecutiveforum.com · Quantify future-focused capability gaps and...
Transcript of The Talent Opportunity - newexecutiveforum.com · Quantify future-focused capability gaps and...
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The Talent Opportunity EMPOWERMENT IN A DISRUPTED WORLD
Impending Workplace Disruption
AUTOMATION/ROBOTICS
GLOBALIZATION
3D PRINTING
DIGITALIZATION
MACHINE LEARNING
A New Socio-demographic Structure
MULTICULTURALISM
ADVANCES IN FERTILITY
LONGEVITY
RISE OF THE FREE AGENT
DIGITAL SOCIAL WORLD
FUTURE OF JOBS FUTURE OF TALENT
Responding To The New World Order
Give me a clear path to promotion
and help me thrive at work
Help me plan for an unknown future,
while mitigating expense risk
About Mercer’s 2017 Global Talent Trends Study
5400+employees
1,700+HR professionals
400+executives
20 industriesAgriculture/Forestry
Automotive
Construction
Consumer Goods
Education
Energy
Financial Services
Healthcare
High Tech
Hospitality
Insurance/Reinsurance
Internet Based Services
Life Sciences
Logistics/Supply Chain
Manufacturing
Mining
Professional Services
Retail
Telecommunications
Utilities
G L O B A L L Y
670employees
143HR professionals
113executives
U S A
Macro Trends Impacting The World Of Work
Aging workforce
Technology at work
Talent scarcity
WHAT ARE EXECUTIVES IN THE
US MOST CONCERNED ABOUT?
D I S R U P T I O N O N T H E H O R I Z O N
Strength of emerging market economies
Change inlabor regulations
Change in border control
Mercer Talent Trends 2017: Key Findings
GROWTH
BY DESIGNTHE QUEST
FOR INSIGHT
A SHIFT IN
WHAT WE VALUEA WORKPLACE
FOR ME
A T T R A C T & R E T A I N
T O M O R R O W ’ S T A L E N T
B U I L D F O R A N
U N K N O W N F U T U R E
C U L T I V A T E A
T H R I V I N G W O R K F O R C E
Growth By Des i gn
ORG. REDESIGN BEING PROPOSEDUS C-suite: How are you planning to change your
organization design over the next two years?
Moving support
functions to
shared services
45%
Flattening the
organization
structure
36%
Eliminating roles,
functions,
departments
27%
Developing
project-based or
other special units
24%
WHAT IS DRIVING THIS CHANGE?
Increased
automation
Greater
customer
intimacy
Reduced
costs
Increased
agility
Greater
efficiency
93%of executives in the US are planning a redesign
in the next 2 years
A Shift In What We Value
of companies in the US plan to make changes to increase transparency of executive pay
82%
W H AT W O U L D M A K E A P O S I T I V E I M PA C T O N Y O U R W O R K S I T U AT I O N ?
1. Compensation that is fair & market competitive
2. Opportunity to get promoted
3. Leaders who set clear direction
4. Working with the best & brightest
5. Career path information
6. Transparency on pay calculations
7. More flexible work options
8%of employees in the US want to be recognized and rewarded for a wide r range of contributions
9EMOTIONAL
CONTRACTUALCAREER
WORKPLACELIFESTYLE
COMPENSATION BENEFITS
AFFINITYPRIDE
PURPOSE
CULTURAL ALIGNMENT
A Shift In What We ValueW H AT ' S H A P P E N I N G W I T H
P E R F O R M A N C E M A N A G E M E N T I N T H E U S ?
Changes to goal cascade or calibration
83%
Introduction ofcontinuous feedback
80%
Shift of focus to careers and future contribution
83%
T O R AT E O R N O T T O R AT E
34% of companies eliminated ratings last year
About 30% added or removed forced rankings in 2016, but 40% of those are planning to reverse their decision in 2017
Just 11% have disconnected base salary adjustments with
performance metrics
W H AT E M P L O Y E E S W A N T
I N T H E U S
A Workplace For MeVOICE OF
THE EMPLOYEE: “Help me invest in myself”
Technology enables individualized choice without adding an undue administrative burden for HR
Me, Inc.BALANCING MY WORK/LIFE
62% in the US want their company to offer more flexible work options
CARING FOR MY HEALTH
48% of employees in the US want their company to focus more on their health and wellness
STEERING MY CAREER
1 in 3 employees in the US do not feel empowered to create their own career success at work
MANAGING MY MONEY
Mercer research shows that employees spend 13 hours per month worrying about money matters at work
A Workp l a ce Fo r Me : F l e x i b i l i t y
WHAT WOULD MAKE YOU WORK FOR ONE COMPANY OVER ANOTHER?
Recreationfacilities
5%
Financialadvice
10%Well being
services
10%
Fitnessfacilities
19%
OthersTop 6
Employeeswant more
time off
4-day work week
Additional paid holidays
Unlimited paid vacation
Paid holiday trips
Summer Fridays
4yr @ 80%pay + 1 year off @ 80% pay
FLEXIBLE WORK ARRANGEMENTS
IN THE US
POLICY
68%
AD HOC
25%
CORE EVP
40%
FLEXIBILITY IN PRACTICE
1 in 2 concerned about promotion
1 in 3 requestedbut turned down
78% of employees in the US would consider working on a contract basis
The Quest For Insight MISMATCH IN TALENT ANALYTICS
HR
Analytics used
EXEC
Most valuable
Key drivers
of engagement
Team
performance
Reasons to
join
Risk of
burnout
Effective
training
Reasons to
leave/stay
Who is likely
to leave
More opportunity for progress
USE OF HR ANALYTICS
MORE POWERFULLESS POWERFUL STRATEGIC VALUE
Analyticsnot used
Stage 1Basic reporting
& trend analytics
Stage 2Benchmarking
and correlations
with business metrics
Stage 3Cause/effect
analysis of key workforce outcomes
Stage 4Predictive analytics
2017 2016
The Quest For Insight
INNOVATIONSIn the quest to open up the pipeline,
games and tools to source qualified talent or speed up the sifting process have exploded
Network Analysis
Social Data
Cluster Analysis
TALENT DATACompanies in the US are using the following tools to understand their talent
(% currently using or planning to in 2017)
Nearly 70% use innovative learning methods such as games, mobile enabled apps and virtual tools to support training and development initiatives
Onlineassessment for
culture fit
87%
assessmentsPersonality Cognitive/ability
assessments
87% 86%
Game-basedassessments
71%
Virtualassessment
centers
79%
Build For An Unknown Future
Mitigate risk by building a diverse portfolio of skills,
sharing knowledge, and encouraging innovation
Improve agility by simplifying decision making,
promoting lifelong learning, and improving mobility
Quantify future-focused capability gaps and amplify
impact through integrated people planning
HR believes managers are well equipped to manage contingent workers today
OUTSIDE TALENT MIGHT OFFER THE BEST
OPPORTUNITY TO ADDRESS THE SKILLS GAP
MOST IN-DEMAND SKILLS IN US
FOR 2017
INCLUSIVE LEADERSHIP
INNOVATION
PREDICTIVE ANALYTICS
VIRTUAL COLLABORATION
CHANGE MANAGEMENT
SALES
MANAGING TALENT IN A DISRUPTED WORLD
(US)
Today 41% of companies in the US are confident in their set up to provide outplacement services
to displaced workers
1 in 5 C-suite executives are confident in their
organization’s ability to reskill displaced workers
44% are confident in their ability to
redeploy talent internally
53% are confident in their ability to fill
newly vacant positions with the right external talent
Tap Into The Entire Talent Pool – Focus On Tomorrow
Cultivate A Thriving Workforce
Build a contribution culture: clarify direction,
encourage collaboration, get out of the way
Differentiate your workplace around
aspects of flexibility, health, and wellbeing
Understand talent flows, identify what matters
to your talent pools, and address choke points
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#WHENWOMENTHRIVE
The Changing Employment LandscapeBUSINESS MODEL DISRUPTIONS
Bus i ne s s , Peop l e & So c i e t y
I M PACT FE LT ALRE ADY 2 0 1 8 – 2 0 2 02 0 1 5 – 2 0 1 7
Mobile Internet and
Cloud Technology,
Crowd sourcing
Big Data
Analytics
Young
Demographics in
emerging markets
Changing Nature of
Work and Societal
Norms
The Internet of
Things
Advanced
manufacturing and
3D printing
Longevity and
Ageing
Societies
Women’s
Economic Power,
Aspirations
Robotics, Autonomous
TransportArtificial
Intelligence
Five Generations in the
Workforce & Multiculturalism
Source: Future of Jobs Report, World Economic Forum
JOBS GROWING AT THE QUICKEST RATES HAVE THE LOWEST
REPRESENTATION OF WOMEN
MANAGEMENT
25%
ARCHITECTURE
&
ENGINEERING
11%
COMPUTER
&
MATHEMATICAL
23%
According To The WEF’s Future Of Jobs Report, Dislocation Has The Greatest Impact On Women
In the Technology industry
specifically, as career level
rises, female representation
severely declines.
Despite these challenges,
there are also many
opportunities for women,
business & society.
L I N K S H R P O L I C I E S AN D P R AC T I C E S T O W O R K F O R C E R E S U LT S
AN D P R E D I C T S F U T U R E R E P R E S E N TAT I O N
O R G A N I Z AT I O N S
600+
With workforce data covering
1 . 3 M I L L I O N W O M E N
C O U N T R I E S
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WHEN WOMEN THRIVE, Businesses Thrive Research & Key Findings
Gender equality unreachable
by 2025
promoting women into
executives ranks not supported
by systemic practices
and pipelines
future pipelines
failing to be built
!
PROGRESS OR NOISE?
ECONOMIC
IMPERATIVE
REGULATORY
& QUOTAS
ACADEMIA &
SOCIETY
INCREASED
INVESTOR
PRESSURE
Women Face Choke Points In Their Career
Executives
Senior Managers
Managers
Professionals
Support Staff 49%
38%
33%
26%
20%
51%
62%
67%
74%
80%
T H E AV E R A G E G L O B A L O R G A N I Z AT I O N
A N D P R O M O T I O N S
F : 1 8 %M : 2 1 %
F : 1 4 %M : 1 4 %
F : 8 %M : 9 %
F : 8 %M : 7 %
F : 9 %M : 6 %
H I R E S
F : 1 5 %M : 1 7 %
F : 1 2 %M : 1 2 %
F : 9 %M : 1 0 %
F : 8 %M : 9 %
F : 1 0 %M : 8 %
E X I T S
F E M A L E M A L E
F : 7 %
F : 8 %
F : 7 %
F : 5 %
M : 6 %
M : 7 %
M : 6 %
M : 5 %
North America ILM MAP
Executives
Senior Managers
Managers
Professionals
Support Staff
F : 8 %
F : 9 %
F : 8 %
F : 6 %
M : 7 %
M : 1 0 %
M : 8 %
M : 8 %
5 8 % 4 2 %F : 1 9 %
M : 2 6 %
F : 1 5 %M : 1 7 %
F : 8 %M : 1 0 %
F : 7 %M : 8 %
F : 7 %M : 6 %
H I R E S
F : 1 7 %M : 2 1 %
F : 1 4 %M : 1 3 %
F : 1 1 %M : 1 1 %
F : 1 1 %M : 9 %
F : 1 0 %M : 1 0 %
E X I T S
4 2 %
3 8 %
3 0 %
2 2 %
5 8 %
6 2 %
7 0 %
7 8 %
F E M A L E M A L E
T H E AV E R A G E N O R T H A M E R I C A N O R G A N I Z AT I O N
A N D P R O M O T I O N S
WHEN WOMEN THRIVE, BUSINESSES THRIVE Research — The Critical Drivers for Change
Are you PASSIONATE?
Is achieving success a PERSONAL
goal?
Do you have what it takes to
PERSERVERE?
Is your strategy rooted
in PROOF?
Are the right PROCESSES in place to
support your efforts?
Are you involved in the right PROGRAMS?
I N D I V I D U AL O R G AN I Z AT I O N A L
WHAT CAN YOU DO TO ACCELERATE THE PATH
FORWARD?
Align on the business imperative
Compliance/
Risk Mitigation
Employee Engagement
& Retention
Customer
Intimacy
Innovation
& Growth
BUSINESSES
I N T E G R AT I O N W I T H M I S S I O N & B R A N D
HUMAN
RESOURCES
Align on the business imperative
Keep WOMEN & MEN active in the workforce by taking a holistic approach
PHYSICAL AND EMOTIONAL
WELLNESS
FINANCIAL
SECURITYCAREER ENGAGEMENT
UNDERSTAND AND BE
A PART OF THE D&I
STRATEGY
BE PASSIONATE
ABOUT DRIVING
CHANGE
HOLD / ADVOCATE A
COMPELLING POINT OF
VIEW
HAVE A VOICE
TAKE ACTION: for real change, leaders must authentically. . .
For more information please contact: Leslie Mays, Partner(713) [email protected]
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