the future workforce: how should you prepare for managing talent in 2020 and beyond
DESCRIPTION
By 2014, approximately 50 percent of the world’s working population will have been born after 1980 (known as gen Y or millennials); this group expects to be courted and treated in ways unfamiliar to older generations. Understanding gen Y expectations, managing those expectations, and leveraging their skills to excel with them in our workforce will set high performing organizations apart. So what is the future of attracting, retaining and managing talent? In this webinar, Sarah White, Principal at Accelir, will bust the top talent management myths and review the key questions HR executives need to ask – and answer – as they prepare for the workers of the 21st Century. Attendees of this webinar will: • Gain insight into the future generation of talent and what that means in a business context. • Acquire best practices on how to establish the business value of talent management strategies and execution. • Learn how to combat decreasing global competitiveness caused by skill and competency gaps, a lower performing workforce and misalignment of employees. •Discover how a unified approach to recruiting and talent management demonstrates immediate business value to executives. Key Takeaways: • Strategies to recruiting and retaining key people and high performers of various generations • Best practices on engaging executive management • How improved alignment drives execution, performance and business resultsTRANSCRIPT
The Future Workforce: Prepare for Managing Talent
in 2020 & Beyond
Presented By:
Sarah WhiteFounder, Accelir
Sponsored by:
Generations in the workforce
Source: Multigenerational Workforce Infographic, 2013, Michael C. Fina & Accelir
Gen Y isn’t “Just another generation”
Gen-Y will form 75 percent of the workforce by 2025-Business and Professional Women’s Foundation
Huge Impact of Technology - (SoMo)
Globalization of Life
Self Managed Development
GEN Y IS FUNDAMENTALLY
DIFFERENT
Impact of Technology:
A Digital Native Generation
GEN Y IS SOCIAL
66% would look up a store after learning their friend had checked in
100 hours of video is uploaded to YouTube every minute
40 Million Pictures are uploaded to Instagram each day
26% of companies still block access to social media sites in their workplaces
Gen Y Grew Up Mobile• Among student tablet owners, 76% said tablets help students perform better in class
• 75% of 12-17 year-olds now own cell phones.
• 25% of smartphone users 18-44 can’t recall the last time their phone wasn’t next to them.
Executive Disconnect
36% of Executives say their CEO “doesn’t care or cares little” about social media & brand reputation on it
33% of Gen Y would prioritize social media freedom, device flexibility and work mobility over salary
Globalization:
Technology leveled the field
50% of world population is under 30 years old
Self Managed Workforce:
Its all about me
How Do we prepare?
Recruiting talent• Be proactive at identifying needs and creating pipelines of talent
• Adopt consumer style strategy for marketing and engagement - talent shortages for good candidates never go away
• Look at positions & candidates for skill sets vs titles
Sourcing
Employment Branding
Candidate Experience
Recruiting
Managing talent• Build company loyalty and relationship from day one.
• Identify skills gaps on teams as well as worker interest to develop talent internally to meet needs for growth
• Have an environment that people want to work in
Onboarding
Succession Planning
Team Building
Employee Engagement
Developing Talent• Self Directed Learning Opportunities
• Allow workers to develop their own ascension plans to work off for training
• Strong mentorship programs with retiring workforce - including interesting job share arrangements
Social Collaboration
Learning
Personal Development
Mentorship
Retaining Talent• Never Stop Recruiting Employees
• Create a culture of referral
• Identify high potential workers and fast track them
• Use analytics, technology and quantitative data to the extreme
Hi-Po Identification
Re-Recruiting
Internal Referral Programs
Analytics
What else should companies think about?
• New workforce structure - Contingent, Part Time, Flexible, Retained Experts, Consultants and On-Call workers
• Phased Retirement Programs - Valuable for both Gen Y and Boomers. Most ROI for businesses.
• Loss of the “pink-collar” workforce - No longer will female dominated roles exist
Business Impact of NEXT Generation Business
Strategies
Results-Only Work Environment (ROWE) program allows certain corporate employees in to work virtually anywhere, anytime, as long as they successfully complete their assignments on time.
This shift increased productivity 41% at headquarters and had as much as 90% reduction in turnover.
Companies like 3M, HP & Google have set aside time for groups of their employees to focus on pet projects and innovations outside of their normal day to day role.
And for much success dating back to mid century - products like Post-it notes, GMail, HTML and AdSense have all come out of this innovation time.
It All Has to Work Together
Recruiting Managing
Developing Retaining
Sourcing
Employment BrandingCandidate Experience
Recruiting Onboarding Succession Planning
Team BuildingEmployee Engagement
Social Collaboration
Learning Personal Development
Mentorship Hi-Po Identification Re-Recruiting
Internal Referral Programs Analytics
New types of “Employee”
New Workday Structures
The Future Workforce: Prepare for Managing Talent
in 2020 & Beyond
Sarah WhiteFounder, Accelir