Talent StrategiesFor a Networked WorldLima, Peru: Seminarium HR Conference Dec. 12, 2012 George Anders
Our Agenda Today First Session• What’s Going Wrong in Global Talent Markets?• Can We Do Better? Lessons From ‘The Rare Find’• How Should We Apply the Seven Key Values to Our Industries? Second Session• How Can Social Networks Help Talent Hunting Right Now?• What Is Social Media’s Promise for the Future?
Work Is Rapidly Being RedefinedProduction Transactions Interactions2.7m jobs lost 0.7m jobs lost 4.8m new jobs Source: McKinsey & Co.
Labor Markets Struggle to Adjust 0 10 20 30 40 50 60 70 80 90 Japan Brazil Australia U.S.Argentina Jobless RateGermany Peru Skills Shortages France China Spain Sources: TradingEconomics.com, Manpower
Vital Jobs Are The Hardest to Fill Critical High-Potential Top Employees Skills Performers 72% 60% 59%Source: Towers/Watson Talent Survey 2012
In 2020, More High-Skill Shortages MCKINSEY PREDICTS GLOBAL JOB GAP OF 40 MILLION DELOITTE: 37% OF FIRMS CALL TALENT PLANS WEAK U.S. Gaps: Information Technology (IT); Health; Top Management; Welders; Data Scientists Latin America: Mining, Engineering, IT, Health China: College graduates in all levels; engineers
What Can We Learn From Enterprises With Top Talent Strategies?
In the U.S. Army, an Elite 4%Of Soldiers Serve in ‘Special Forces’
Across a Vast Range of Disciplines, Similar Virtues Dominate Hiring
Top Hires Are Guided by 7 Key Traits Desire to Learn Efficiency Judgment Resilience Compati- Self- bility Reliance Curiosity/ Acumen
Lessons From an Energy Giant: Which Factors Drive Future Success? Years of industry experience Education Management skills Communications skills Technical expertise Teamwork skills Adaptability to change or hardshipSource: Mercer, “Strategic management of human capital in the energy sector”
Surprise! The Actual Rankings Adaptability to change or hardship (220) Teamwork skills (215) Technical expertise (200) Communications skills (130) Management skills (125) Education (65) Years of industry experience (60)Source: Mercer, “Strategic management of human capital in the energy sector”
So How Can We Use‘Soft’ Methods With Confidence? Desire to Learn Efficiency Judgment Resilience Compati- Self- bility Reliance Curiosity / Acumen
1. Win top management supportfor truly getting to know candidates
2. Build rigor into your assessment system• Detailed biographical-data reviews of candidates’ careers• Simulations• Auditions or tryouts• Situational judgment questions• Personality tests (?)
3. Become an Aggressive Listener• Ask Open-Ended Questions (How and Why?) They Take You Deeper Than What and Where• Dare to Ask ‘The 3rd Question’• If You Use Scenarios, Pick Ones That Reflect Real Job IssuesF i t Ma n y S ma l l P i e c e sI n t o a Fu l l Pa t t e r n
4. Make Room for the Jagged Resume • Rare Virtues • Some Career Ups and Downs • Limited Direct Experience • Unconventional Minor Habits
5. Dare to Ask: ‘What Can Go Right?’Athletes Actors Authors Singers
First Half Summary: • In a Fast-Changing World, New Strategies Can Help Us Be Hiring Champions • Hunt for 7 Character Traits That Help Signal Winners • You Can Assess ‘Soft Skills’ in Bold but Rigorous Ways
Three Questions for Break Time • What Social Networks Do You Use? • Do Social Networks Help You At All in Recruiting? • What Worries You About Social Media in Business?
What We Will Cover• Making Weak Ties Pay Off• Sizing Up Actual Work Online• Overcoming Talent Shortages
A Front-Row View of Social Media and Its Impact on Job Markets
Talent Sourcing: 1970 and Today Social Networks Your Web Site Internet Job Boards Referrals Agencies & Recruiters Print Ads Paper Applications1970 1997 2006 2009 2012Sources: Rees & Shultz (U of Chicago); BoozAllen; CareerXRoads
Online Job Ads Bring A DelugeOf Candidates -- Mostly Ill-Qualified 219 1Source: Jobs2Web Inc.
We Don’t Want 1,000 More Names;We Want Entry Into New Talent Pools
Referrals Keep Working in Any Era Social Networks Your Web Site Internet Job Boards Referrals Agencies & Recruiters Print Ads Paper Applications1970 1997 2006 2009 2012Sources: Rees & Shultz (U of Chicago); BoozAllen; CareerXRoads
1. We Want Digital-Era Referrals Deep Reference Checks Sense of Cultural Fit Understanding of What The Job Is All About Desire to Get It Right And All Online, Too!
Who Provides the Best Job Leads? Look to “the Strength of Weak Ties” Stanford Prof.Mark Granovetter
Can Social Media Harness Our Weak Ties? Let’s Find Out!
My 1st Order ContactsAren’t Useful (Yet) in Peru --------- ----->
How Public Portfolios Pay Off For Employers For Talent• You Can Look Anywhere for • You Can Live Anywhere and Talent at the Right Price Attract Global Clients• You Can Identify Stars Who • Your Work Markets Itself; Aren’t Hunting for Jobs You Lose Less Time Hunting• You Can See Relevant Work • You’re More Likely to Match Right Away; It’s Efficient Jobs in Synch With You• It’s Easy, at Last, to Notice • Your Credibility Builds Fast; ‘Talent That Whispers’ Less Time Paying Dues
3. Talent Shortages: What Can We Do?• Long Hunts; Long Vacancies• Bidding Wars; Salaries Soar• Standards Get Compromised
What If Social Media and Job-Related Games Let Us . . .• Excite Newcomers About Our Field• Attract a Huge Pool of Candidates• Screen Efficiently for the Very Best• Open a Dialogue With Near-Miss Applicants• Show the Labor Market a Road Map to Success, So Strivers Could Try Again, Soon
Stripe’s Story: Online ‘Capture the Flag’Tests 20,000 People at Computer Security
Stripe’s Payoff: 978 Security Experts-- And a Useful List of Future Prospects
Game-Based Recruiting Catches On In Traditional Industries, Too
Takeaway messages• Use Social Media to Win Online Referrals• Harness the Strength of Weak Ties• Expect to See the ‘Public Portfolio’ Become Common in More and More Fields• Consider Contests, Games and Auditions to Help You Overcome Talent Shortages• The Internet Isn’t Everything; We Will Always Need Face-to-Face Contact
Follow Ups? Of Course!Twitter: @GeorgeAnders Facebook: TheRareFind Slides will be on SlideShare Email:George.Anders@gmail.com