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Workforce of the Future is Upon Us - Entrepreneurship 101 (2012/2013)
The document discusses the evolving landscape of the workforce, highlighting the need for companies to rethink their workforce strategies and build unconventional teams in response to economic forces and changing labor demographics. It emphasizes the importance of flexible resourcing models, virtual workforce planning, and leveraging diverse talent pools while addressing challenges such as securing intellectual property and adapting to technological advancements. The document also outlines various workforce models, including conventional and hybrid approaches, as well as the impact of crowdsourcing and strategic sourcing on recruitment practices.
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Workforce of the Future is Upon Us - Entrepreneurship 101 (2012/2013)
- 1. WORKFORCE OF THE FUTUREIS UPON US How companies need to rethink their own workforce plans & build unconventional teams.
- 3. Agenda 1. The changingworkforce landscape • What is driving change • How are workforces changing • Why does it matter 2. Rethinking your workforce plans • Moving away from conventions • Planning for success – building a strong core, leveraging virtualized resources
- 4. Workforce Models Bricks &Mortar Features: • Resources hired as employees (full time, part time, permanent or term) • Employees generally work within company’s offices or facilities • Some ability to work outside of the office – but flexibility is limited • Some volume work might be outsourced to low cost regions • May have service partners for some peripheral work Why this approach: • Conventional – what we know and are familiar with • Secures resources, knowledge and IP • Ability to collaborate “around the water cooler” • Can control, manage and plan the resources Workforce planning: • Focuses on mix and headcount
- 5. Workforce Planning –mix Company Stage – business inflection points Formation Pre-revenue Early revenue Repeatable revenue Maturing Products Major Revenue Growth Sustaining Sustaining Concept Product Proof of Product Technical Product Product V.1 GA V.2 GA Milestones V.1 V.2 V.1 V.2 Quarterly IPO/M&A Strategic + Margin Revenue Funding Revenue Revenue Series C Revenue Series A Series B Financial Growth Growth Yearly Seed Milestones Customer Customer Customer Company Accounts Strategic Accounts Accounts Customer Launch Repeat Repeat Repeat Trials Sales Sales Early Sales New New Sales New BD Milestones HR Admin. CEO CFO Accountant COO? (P/T?) Support HR CFO (F/T) (P/T?) (F/T?) Organizational R&D Sr. R&D QA VP CTO Int./Jr. Marketing Milestones Lead R&D Customer PLM BD/ Marcomms Sales VP Sales Sales Support Sales SE’s (Hunter) Sales (Farmer) Support
- 6. Workforce Planning –headcount growth rt &s uppo Headcount liver n s e eratio Bu ild, d ip a nd Op dersh ra te Lea Corpo ales ing & S Market les efinition ro Product d Design & development Time
- 7. Workforce Planning Challenges Talent assumptions: • The skilled resources you need are available WHEN you need them • They are local, or willing to move to your location(s) rt Revenue projections &s uppo Headcount liver ration s are challenging , de and O pe Build ership ead rate L Corpo ales ing & S Market les efinition ro Product d Design & development Time
- 8. Workforce Models Bricks &Mortar plus some remote working sites. Features: • Resources hired as employees (full time, part time, permanent or term) • Employees generally work within company’s offices or facilities • Some ability to work outside of the office – but flexibility is limited • Create remote locations to capture other labour pools for talent • Some volume work might be outsourced to low cost regions • May have service partners for some peripheral work Why this approach: • Conventional – what we know and are familiar with • Secures resources, knowledge and IP • Access to additional labour pools outside of corporate HQ geography • Ability to collaborate “around the water cooler” • Can control, manage and plan the resources Workforce planning: • Focuses on mix and headcount
- 9. Changing • changing labour market demographics Workforce Landscape • Economic forces $ $ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $
- 10. • ‘Low-cost’ marketsdisappearing Changing • Labour market size differences growing Workforce Landscape • Economic forces $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
- 11. • Canada hasgeographically dispersed talent pools Changing • Culture of mobility not strong Workforce Landscape • Economic forces
- 12. • GTA hasadditional geographic challenges in Changing attracting talent Workforce Landscape • Economic forces
- 13. Hiring for criticaltechnical skill sets • Essential developer skills change continually Changing • Technical advances Workforce • Changing customer demands Landscape • Legacy (‘old’ tools) vs. new products (“newest” tools) • Economic forces Enterprise technology is changing • Technology • How companies work – remote access; cloud computing; any device in any location; etc. • Security risks will force rethinking of mitigation strategies Lock it down strategy • Prevent, detect, shut down threats • Controlled access Protect: • Keep IP, information, Intellectual Property date within corporate Information and data ‘walls’ • Utilize security technologies
- 14. Protect: Changing Top security firm RSA Security revealed on Thursday Intellectual Property that it’s been the victim of an “extremely sophisticated” Information and data Workforce hack. (Source: Wired Magazine, March 2011) Landscape • Economic forces Strategies: Challenges: • Restrict phone lists Social media • Technology • Locked personnel files Employee Information & Data • Company lap tops Personal computers • Corporate servers Cloud computing • Limit portable devices Any device • Encrypted files Customer Information & • Patent filing Data • Confidentiality agreements • IP assignment agreements Litigation defense • Non-competition Corporate business agreements information • Disaster recovery programs • Redundancy and back ups Corporate IP • Security technologies APT’s (know how) (Advanced • Security policies Persistent Threats) Technical IP (patented)
- 15. So What?? Protect: Changing Bricks & Mortar model Intellectual Property Information and data Workforce Conventional – what we know and are familiar with Secures resources, knowledge and IP Landscape Ability to collaborate “around the water cooler” Can control, manage and plan the resources • Economic forces • Technology Employee Information & Data Customer Information & Data Corporate business information Corporate IP (know how) Technical IP (patented)
- 16. Changing Hiring for critical technical skill sets Workforce • Essential developer skills change continually • Technical advances Landscape • Changing customer demands • Legacy (‘old’ tools) vs. new products (“newest” • Economic forces tools) • Technology • Crowdsourcing Enterprise technology is changing • How companies work – remote access; cloud computing; any device in any location; etc. • Security risks will force rethinking of mitigation strategies Crowdsourcing through social media • Connecting, sharing, revealing, interacting through online or data channels
- 17. Phase 1 –Reaching the Crowd Changing Workforce Landscape • Economic forces • Technology • Crowdsourcing
- 18. Phase 2 –Crowds gather Changing Workforce Landscape • Economic forces • Technology • Crowdsourcing Crowds • Share ideas • Influence • Create
- 19. Phase 3 –Crowds reaches out Changing Workforce Landscape Companies • Economic forces • Technology Funders • Crowdsourcing Political Influence Communities
- 20. Phase 4 –Commercial Product/Service Relationships Changing Workforce Landscape Companies • Economic forces • Technology Funders • Crowdsourcing Political Influence Communities
- 21. CROWD PARTNERSHIPS Contests Collaborative Communities Problem Complementors Labour Crowds
- 22. CROWD PARTNERSHIPS Problem Contests We have seen this before…. The Longitude Prize in 1714 Contest: Established by Britain’s Parliament (after esteemed scientist, including Isaac Newton, failed) To search for a way to determine longitude at sea. Prize £15,000 Crowd: 100 submissions Solution: highly accurate chronometer that provided an exact triangulation of location Winner: John Harrison, carpenter and clockmaker from English countryside
- 23. CROWD PARTNERSHIPS Problem Contests • Not clear about skills needed Platforms • Promoted as a problem that or best technical approach to will raise stature in community use • Prizes for submissions and • Experimenting with multiple winner with clear scoring set solutions up at outset • Problem is complex or novel Case Studies • Contractual terms around IP • Very good for design • Clear terms around technical problems requirements, etc. • Usually a very narrowly Contest: • Promotion of contest is critical defined problem 8 weeks $40K contest prize – to identify most to raise profile and status in promising chemical compounds for future disease • To protect IP – may need to the community testing. break down into multiple Crowd: problems 238 team; 2,500 proposals – winner from a • Management challenge – computer scientist using machine learning approach defining problem, abstracting it to protect company IP, translating it to be understandable Contest: 8 weeks $17K contest prize – to develop ads for Speed Stick’s “Handle It” campaign. Crowd: Selected submission used for $4M Super Bowl buy Ad ranked 12 out of 36 in Super Bowl ad review
- 24. CROWD PARTNERSHIPS Problem Collaborative Communities We have seen this before…. IBM in 1998 Decision: Decided to drop internal development efforts on web server architecture. Partnered with Apache – community of webmasters and technologists. Aggregated inputs from global community to quickly develop full featured free product that outperformed other offerings.
- 25. CROWD PARTNERSHIPS Problem Collaborative Communities • More projects rather than Platforms • Collaborate open and freely problems where diversity of • Contribute to ideas, problems, ideas and free form information (social, technical, collaboration is useful thought leadership, etc.) • Tasks within projects • Communities can be identified, standard routines customers, market segments, developed and need global communities, user technology to help coordinate groups • Should need only some • Structure and routines self- coordination – can rely on Case Studies govern the crowd technology to assist in collaboration • On-line collaboration to build knowledge, share ideas freely • Stays away from core IP and not usually where profits come from
- 26. CROWD PARTNERSHIPS Problem Poblem Complementors We have seen this before…. Platform allows the core business to collect licensing or transaction revenues from complementors who sell their products to the customers of the core product (e.g. iPhone users)
- 27. CROWD PARTNERSHIPS Problem Poblem Complementors • Want to add to your core Platforms • May be crowds that are product or technology BUT connected to company’s where having a volume of platform solutions matters most • Must have flexible access to • Instead of one solution to a platform to design a wide problem – provide many range of solutions solutions to many problems • Usual to have a developer (or offerings) agreement in place • Different than collaborators • API developers can develop because access to core platforms for these crowds to product is required – through Case Studies use APIs + = Created a standard way of creating aftermarket software and hardware for vehicles. Connects the output from car’s computers and electronics to third- party applications and the web.
- 28. CROWD PARTNERSHIPS Crowd Labour Problem Markets • Match buyers and sellers for Platforms • Crowds from any discipline or services community • Focus is on securing partners for • Reach is global small bits • Interest is in alternative work • Well suited for repetitive tasks or arrangements those that need human intelligence • Major focus is on micro tasks • “spot” markets for resources – • Development communities match skills and tasks on demand well suited for programming • Collect a lot of data on type tasks performance and feedback and use this for future matches • Platforms provide reputation and skill level metrics, bidding systems, monitoring technologies, Case Studies performance recourse, escrow services for payment on delivery THE MICROWORK™ MODEL Samasource defines a unit of work as a small, computer-based task taken from a larger data project. The Microwork™ model fits within the overall field of Impact Sourcing, which aims to create jobs for individuals with limited opportunity in rural or economically depressed communities.
- 29. CROWD PARTNERSHIPS PROBLEM Harvard Medical School was facing this exact challenge for a complex DNA sequencing alignment challenge. Previously: • Used MegaBLAST – processed 100,000 sequences to high degree accuracy, but took 2,000 seconds to execute. • Full-time Harvard resource spent 1 year to develop a solution that reduced computational time to 400 • world’s largest platform for digital open innovation seconds • Platform for a community of over 445,000 global SOLUTION Engaged TopCoder for a contest: • $6,000 in total prize money • 733 registrants and 122 members submitting working algorithms, • TopCoder provided a solution that performed hundreds of times faster and at a higher degree of accuracy, reducing the time to execution to just over 16 seconds.
- 31.
- 32. Source: Harvard BusinessReview, “Using the Crowd as an Innovation Partner” by Kevin J. Boudreau and Karim R. Lakhani, April 2013 Kevin J. Boudreau is an assistant professor of strategy and entrepreneurship at London Business School and a research fellow at Harvard’s Institute for Quantitative Social Science. Karim R. Lakhani is the Lumry Family Associate Professor of Business Administration at Harvard Business School and the principal investigator of the Harvard-NASA Tournament Lab at the Institute for Quantitative Social Science.
- 33. CROWD PARTNERSHIPS Internal team External team (employees) (the Crowd) • Traditional incentives- salary, • Intrinsic incentives – learn, explore, bonuses, equity compete with contemporaries • Clearly defined roles and • Explore challenges outside of their responsibilities day-to-day • Use systems, tools, platforms inside • Technology platforms for design, the company development, collaboration • Long term relationship with becoming powerful, easy to use, employer cost effective • Focus is on fit with culture; where • On-line crowdsourcing platforms – interaction, socialized to each other help to manage process and share a culture • Available on demand • Specific experiences in narrow • Adds diversity to problem solving fields that align to company area of outside of narrow focus areas focus
- 34. What is coreto your business – what is the critical Workforce offering Models • IP • Know how/unique skill Build around the Core • Services plus “Flex Resourcing • Information Partnerships” Based on this core – who do you need on your core team? • Consider: Employee Information & Data • Is your technical IP well protected? Can you segmenting pieces of development to protecting the IP Customer Information & • Are you relying on hiring for every requirement you have Data • Do you have the core skill set on the team to manage these Corporate business information contests and projects Corporate IP • Do you have technology leaders who can integrate solutions (know how) Technical from multiple sources IP (patented) • Hire for fit, competencies needed at your core, subject matter knowledge that must integrate and be socialized with others on the team
- 35. Critically assess whatis core…. Values & Critical Knowledge Core IP (technical, market, (technical, market, Character Competencies integration) knowhow) Key Run the Define ‘What’ Build Reach Deliver Design Functions business market technology & Test & Sell & Support Generally Marketing External Prod. & Comms Head of Facing Mgmt. CTO Head of R&D Head of Ops. Customer CEO Sales Support & Sr. Prod. Head of Design Head of Leadership CFO Market. R&D Leaders Manufact. Bus. Dev. Sales Eng. “Define & Bus. Dev. Prod. Market. Plan” Marcomms Logistics PM Install & Test Generally Controller Market Engineers Manuf Eng. Mark. Supp. Product Internal Accountant Technical Supply chain Research Scientists Support Office Mgr. planners Lab Tech Sales Eng. Facing HR Techs. Test Tech Media Trainer Marketing QA Customer Purchasing Research Research collateral PM Support “Do” IT assistant Relations assembly Sales Supp.
- 36. Plan for theflexible resourcing model…. • Variable growth – a more ‘flex’ workforce • Employers will stay small as much as possible • Key technical skills change quickly; year over year, or even month over month • Pricing pressures from globalized work force – must become very skilled at controlling costs • Means smaller teams • Need alternatives to hiring permanently every skill set you need • Cannot spend $$ on building multiple locations • Need to leverage talent where it exists – a more virtualized work force • Core team needs are changing: • Strong project managers who can track and plan needs • Strong virtual team managers – with skill set to lead, manage and drive diverse teams • Technical chameleons who can adapt quickly to new technologies • Strategic resourcing specialist – to find core talent and flex talent • Workforce planning will become establishing a strong core and develop resourceful and engaging flexible workforce partnerships ‘ Workforce Planning Era • Steady core team • Flexible resources used as needed Headcount for: • Peak work • Special skills/expertise • Bench strength Build, deliver & support Corporate Leadership and Operations Marketing & Sales Product definition roles Design & development Time
- 37. Finding talent: Strategic Sourcingvs. Recruitment Conventional sourcing BUT this is a very strategies really only competitive market! target active or near- active candidates. NEAR-ACTIVE ACTIVE PASSIVE CANDIDATE CANDIDATE CANDIDATE Career Satisfaction Factors Like People Happy in Job Compensation Satisfactory Career is growing Learning/having new experiences Exciting Work Fulfilling other needs (altruistic)
- 38. Strategic Sourcing vs.Recruitment NEAR- NEAR-ACTIVE ACTIVE ACTIVE PASSIVE CANDIDATE PASSIVE CANDIDATE ACTIVE CANDIDATE CANDIDATE CANDIDATE CANDIDATE Perfect Candidate Active Near Active Active Active Near Active Near Active Active Active Near Active Active This approach ignores a very Near Active This approach is not large addressable market Near Active ActiveActive Active Active Active targeted to the perfect Active candidate for the Active Active company. Near Most sourcing draws in Active Active Active those actively or thinking about a career change. Active
- 39. Strategic Sourcing vs.Recruitment NEAR-ACTIVE ACTIVE PASSIVE CANDIDATE CANDIDATE CANDIDATE Effective Recruitment Campaigns CRM – Candidate Relationship Management Program Active Active Near Active
- 40. HOW - StrategicSourcing vs. Recruitment Understand your perfect candidate! Same principles as understanding your customer SEGMENTATION • Research the profile of the perfect candidate for each role • What are the attributes, behaviours, career patterns and indicators of high potential • What are the relevant career satisfaction factors Ø This will inform key messages to these target candidates Ø AND channels to reach them
- 41. HOW - StrategicSourcing vs. Recruitment Understand your perfect candidate! Same principles as understanding your customer MESSAGING • Based on what you know and what you discover – develop the messages and brand that speaks to these passive candidates • GOAL is to implant the idea of your company as a career choice to all passive and active ideal candidates • This messaging will be heard through branding, recruitment activities, marketing programs, speaking notes, and on-line activities and promotions
- 42. HOW - StrategicSourcing vs. Recruitment Understand your perfect candidate! Same principles as understanding your customer CHANNELS • Based on what you know and what you discover – develop strategic sourcing programs that address a full spectrum of channels to REACH the active, near- active and passive candidates • Develop plans and programs with a view to: Ø find talent Ø nurture relationships Ø convert passive candidates to active candidates Ø close on perfect candidates
- 43. HOW - StrategicSourcing vs. Recruitment Understanding who you are targeting; what they care about and how to reach them will result in: 1. Clarity on what a successful candidate looks like for your organization 2. Creating a compelling job posting that will speak to the best candidates for your company – giving higher likelihood of good matches 3. Allows you to roll out an effective recruitment campaign that will reach the target candidates that are best for your organization
- 44. Effective Recruitment TightExecution is Key • Know what you are looking for and when • Think of a highly targeted approach • Process from start to ‘in-seat’ will generally take no less than six weeks WITH all stars aligning – plan for 2 months or more if highly specialize role • Think before you act – a little preparation will make the effort much more productive Focus in on a tight plan in the context of a bigger picture CEO HR QA Admin. Accountant COO? (P/T?) Support HR CFO (P/T?) Sr. R&D CFO (F/T?) Organizational R&D Int./Jr. (F/T) VP CTO Marketing Milestones Lead R&D Sales Customer PLM Marcomms VP (Hunter)Sales Sales Sales Support SE’s (Farmer) Support BD/Sales
- 45. Sample Sourcing Strategy& Recruitment Plan
- 46. Social networking tools Pro’s Con’s Tips Huge reach in all geographies Volume is overwhelming Filter your search in terms of geography and use additional filters Can reach specific individuals who Will be contacted by many who Use In-mails to send customize seem to be a good fit think they are a good fit messages to candidates of interest AND follow up Can post jobs Any posting will get a huge Compelling description that speaks response from candidates around to the candidate you want to reach the world will allow for easier filtering Can target communities by Some user communities shun Preferable to have outreach from connecting with user groups and recruitment efforts someone in the company using other social media Some user groups have job boards Can see recommendations on Some have become expert at Filter the recommendations – which individuals getting referrals from everyone – ones do you trust more noise Still do your own reference checks Lots of statistics to look at about You have to read into these to Read with a note of skepticism – companies and individuals understand what is self-promotion always do your own due diligence vs. legitimate signs of excellence
- 47. Social networking tools DIRECT SOURCING Relevant Networking Awards of Job Boards User Groups Schools Associa@ons Events Significance Post ac@ve Post ac@ve Post ac@ve Post ac@ve Only if Explore awards (hiring within opportuni@es in opportuni@es in opportuni@es in networking event related to next 2-‐3 months) UG job sites that university job boards -‐ relevant has known employers of opportuni@es on exist; broadcast target schools with associa@on sites; recruitment focus choice. target job boards opportunity in UG. relevant programs. make contact -‐ consider Coordinate any Note do not Connect with with associa@on par@cipa@ng with promo@on of overuse this -‐ only someone from to see if there is ac@ve these with direct when shcools if possible to a way to tap into opportuni@es. recrui@ng opportuni@es are properly promot their community. opportuni@es real. opportunity
- 48. Social networking tools INDIRECT SOURCING Relevant Networking Awards of Job Boards User Groups Schools Associa@ons Events Significance Examine boards Prolucid team join Networking with Prolucid team Prolucid team to Explore awards for opportunity relevant groups; schools, alumni, etc. to join relevant aUend 'high value' that posi@on to create banner par@cipate in group to raise awareness associa@ons networking events Prolucid in a ads and other discussions to build of Prolucid. that have high that promote highly valued promo@onal presence; when value in terms Prolucid; speaking technical, sector, opportuni@es opportuni@es of reaching opportuni@es to work become ac@ve can target audience. be explored. Want environment. send message out Will want speaking notes on to group. 'speaking notes resources we are around who we always looking for are always looking for'
- 49.