HR FORECASTINGGetting Ahead of the Game Presented by Vivian L. Mora, MSS, SPHR Managing Partner and Founder Mora&Associates Search and Consulting Greater Metro Area of Houston, TX
Earl G. Graves, Sr.Author, publisher, entrepreneur, philanthropist and founder of Black Enterprise magazine
HR Forecasting = Scouting AheadRole: Strategy Architect• Has a vision for how the organization can “win” in the marketplace, now and in the future• Plays an active part in establishing the overall strategy to deliver on this vision• Recognizes business trends and their impact on the business, forecasting potential obstacles, and facilitating the process of gaining strategic advantage Dave Ulrich, Wayne Brockbank, Dani Johnson, Kurt Sandholtz, Jon Younger, HR Competencies (RBL Institute/SHRM, 2008)
3 Major Forces under Examination Demographic • Relating to human populations especially with reference to size and density, distribution, and vital statistics. Technological • Resulting from improvements in technical processes that increase productivity of machines and eliminates manual operations or operations done by older machines Economic • Relating to or based on the production, development, distribution, management, and consumption of goods and services (material wealth), as of a country, household, or business enterprise.
Demographic• Factors/Trends• Impact/Obstacles• Possibilities for Gaining Strategic Advantage
Demographic• Factors/Trends • Declining population growth worldwide in developed countries • The increasing age of the workforce • Increasing ethnic diversity • Net migration within the US – population growth in the South/Southwest – decrease in the middle states • Changes to family structure – more single-parent and domestic partner family structures • Globalization – migration of people and of work around the world
Demographic• Factors/Trends • Declining population growth worldwide - particularly in developed countries• Impact/Obstacles • Can decrease economic growth through a decrease in the contribution of labor input• Possibilities for Gaining Strategic Advantage • Leverage technology • Increase automation • Increase the capacity of current labor through talent development
Demographic• Factors/Trends • Net migration within the US – population growth in the South/Southwest – decrease in the middle states• Impact/Obstacles • Can make it hard for employers to find the labor they want when they need it.• Possibilities for Gaining Strategic Advantage • Shift work to other sites • Consider relocation • Initiate job training • Other options?
Technological• Factors/Trends• Impact/Obstacles• Possibilities for Gaining Strategic Advantage
Technological• Factors/Trends • Workplace Connectivity – enabled by software and smart phones, tablet computers and cloud computing • People can reach others throughout the world in a matter a seconds, at little to no cost. • Employees no longer need to be physically with their clients or co-workers; they can communicate effectively from home, a remote office, across the world, and from their cars or even an airplane.
Technological• Factors/Trends • Workplace Connectivity, the 24/7 Workplace• Impact/Obstacles • Can increase stress • Minimize work/life balance • Lead to health concerns• Possibilities for Gaining Strategic Advantage • Establish a culture that respects the “whole” person • Ensure multiple “go-to” options • Offer telecommuting/flexible work options • Protect “offline or out of touch” time • Make vacation time sacred • Other options?
Economic• Factors/Trends• Impact/Obstacles• Possibilities for Gaining Strategic Advantage
Economic• Factors/Trends • Older US workers are delaying retirement due to the effects of the recession
Economic• Factors/Trends • Older US workers are delaying retirement due to the recession• Impact/Obstacles • Less workforce disruption • Maintain an experienced workforce segment • Higher wage and benefit expense*• Possibilities for Gaining Strategic Advantage • Leverage the knowledge base towards development of younger workers based on your future talent requirements
ClosingIn addressing these three areas, a strategic HR professional will need: To know the basic trends in demographics as well as the specifics of those that influence the labor supply and capabilities of your industry; Knowledge of current technological advancements and the possible impact of those advancements in your organization and you will need, To understand and monitor the economic climate fluctuations that impact your organization directly and indirectly through customers and employees.
ClosingThis pool of knowledge is dynamic and require continual monitoring tomaintain up-to-date information.Staying ahead of these business trends allow you to proactively offeryour organizations choices and alternatives that may not have beenconsidered and permit you to keep your reputation as a gifted visionary! Always keep your eye on the horizon!
Vivian L. Mora, MSS, SPHRHeadquarters:22136 Westheimer Parkway, No. 322Katy, Texas 774501.877.310.6553, ext. 702Fax 281.596.6928vivian@moraHR.comExecutive & Professional SearchHuman Resource Consulting Serviceso Based in Houston, TX