War for Talent – Time to change direction
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War for Talent – Time to change direction

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With many markets facing talent shortages, organizations must take a new, holistic approach to managing talent and not just focus on the most senior levels. With new data analytic capabilities, HR ...

With many markets facing talent shortages, organizations must take a new, holistic approach to managing talent and not just focus on the most senior levels. With new data analytic capabilities, HR functions have a real opportunity to create a differentiated and unique approach.

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War for Talent – Time to change direction Presentation Transcript

  • 1. War for Talent – Time to Change Direction Highlights of Q1 2014 Human Resources Center of Excellence Survey
  • 2. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 1 KPMG’s People and Change Advisory Practice KPMG’s People and Change advisory practice has the ability to help member firms’ clients transform enterprise services to help improve value, increase agility, and create sustainable business performance. Who we are The People and Change Advisory practice brings a specialized global team of professionals within KPMG International global network of independent member firms operating in 156 countries. Our network of professionals help clients design, build, and manage change management and talent strategy initiatives. What we do The global People and Change practice transforms the performance of organizations across the world by changing the way people are led, managed and developed. How we do it We focus on two key areas of the change agenda – delivering the people agenda on large scale, complex, transformational change programs and transforming the HR function.
  • 3. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 2 Focus on high performers Show s what you can do and we will invest Focus on global team New war, better tactics
  • 4. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 3 The War for Talent 15 years later: ■ Little evidence that typical ‘war for talent’ practices contribute to improved business ■ Analysis of the 106 original ‘war for talent’ companies featured in the 1997 book shows: – Only 25% are performing well in today’s market – 1/3 have disappeared entirely Source: Survey by AM Azure of the organizations featured in The War For Talent analyzing 100 plus firms to evaluate current corporate performance in 2013
  • 5. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 4 The Research Canada 13 Germany 15 South Africa 27 Australia 31 Brazil 38 USA 58 UK 63 Other 90 Respondents by Country ■ First edition of semi-annual KPMG HR Center of Excellence survey ■ In February-March 2014 we polled 335 KPMG HR and P&C consultants globally Source: KPMG International, 2014
  • 6. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 5 The Research We asked: ■ What’s causing skills shortages globally? ■ Is addressing skill shortages rising in priority? ■ Is the war for talent different than in the past? ■ What’s more important – focusing on high potential/high performers or focusing on all employees? ■ How can companies address talent shortages: – Strategically? – Operationally?
  • 7. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 6 0% 20% 40% 60% 80% Social safety net programs Restrictive immigration policies Lack of ambition Negative PEST conditions Demographics Weak educational systems Unappealing employers/markets Increased hiring Generational 3% 9% 14% 18% 36% 38% 38% 51% 60% Root Causes of Talent & Skills Shortages What’s driving skills shortages? 1. Generational issues 2. Increased hiring/Improving economic conditions 3. Unappealing employers/market conditions Source: KPMG International, 2014
  • 8. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 7 Skills Shortages – Rising Priority 1.00 2.00 3.00 4.00 5.00 2 Years Ago Now 2 Years Forward 2.89 3.66 4.06 1 = Not an issue/Low priority 5 = Critical issue/High priority Addressing skills shortages is a higher priority now than two years ago – and will become critical in the next two years Source: KPMG International, 2014
  • 9. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 8 The War for Talent Today There is a new war for talent. This war is different. Source: KPMG International, 2014
  • 10. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 9 Talent management focus 2/3 of respondents say its time for new, more holistic talent strategies Source: KPMG International, 2014
  • 11. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 10 Addressing Talent Shortages – Strategic Approach Top 3 strategic approaches 1. Enlist and empower management 2. Focus on developing clear career paths 3. Take a holistic approach Strategic Approaches to Addressing Skills & Talent Shortages Source: KPMG International, 2014
  • 12. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 11 Addressing Talent Shortages – Operational Approaches Top 3 operational approaches 1. More compelling work environment 2. Better use of HR analytics 3. More competitive rewards for all employees 2.9 3.14 3.3 3.32 3.53 3.65 3.68 3.68 3.93 3.95 Increase use of contract labour Increase use of outsourcing Increase use of shared services Focus on process automation Offer training with edu. institutions Improve training & budgets Invest in helpful IT applications Competitive rewards package Better use of HR analytics Enhanced work environment 1 = Not an issue/Low priority 5 = Critical issue/High priority Source: KPMG International, 2014
  • 13. © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 12 New war, better tactics Take a global view of your company’s talent Engage in a broadly planned approach that measures the impact of your strategy Experiment with distinct talent strategies tailored to your products, markets and business goals Deploy powerful new data analysis capabilities to gauge success and fine-tune your people practices
  • 14. Contacts: Robert Bolton KPMG in the UK T: +44 20 73118347 E: robert.bolton@kpmg.co.uk Mark Spears KPMG in the UK T: +44 20 73114753 E: mark.spears@kpmg.co.uk Paulette Welsing KPMG in the US T: +1 212 872 7635 E: pwelsing@kpmg.com © 2014 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International. For more information visit: www.kpmg.com/warfortalent