Optimising your career potential
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To optimise our career potential we have to understand the worlds or work, the challenges and opportunities and be able to define our unique value proposition.
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Optimising your career potential
- 1. Optimising your career potential House On The Rock London W2W Empowerment Workshop London, May 2018
- 2. Who am I? Loraine Davies Twitter: @AVADirector LinkedIn: linkedin.com/loraine-davies-587826 agersva.co.uk lorainedavies.com
- 3. What will we cover today? • Four mega trends affecting future of work • Three main worlds of work • Opportunities and challenges • Key employability skills debate • Why companies buy talent • The recruiter journey • Creating “Brand You” • Questions
- 4. Four ongoing mega trends • Globalisation • Technological progress • Demographic change • Value changes
- 5. Globalisation • Continued rise of emerging economies • Fall in cost of communication and transportation leading to global pipelines • Technology sharing leading to innovations in business organisation
- 6. Technological progress • Unbundling activities resulting in gig economy • Automation • Global relocation • Disruptive innovations • Collaborative networks
- 7. Demographic changes • Dramatic decline in working-age population in some nations • In others age working-age population likely to swell significantly • Shortages of qualified labour in countries with an ageing population • Resulting reallocations of labour as consumer tastes change • Middle class expands and rapid urbanisation takes place in countries with young, growing workforce
- 8. Value changes • Existing definitions of flexible work • Customisable jobs • Greater work-life integration, not work-life balance • Increased focus on meaningful work • Social and environmental agenda forcing fundamental changes to business strategy
- 9. The Blue World – corporate is king Driving goal How to compete Employee value proposition (the ‘deal’) Profit, growth and market leadership Scale is the crucial differentiator. It allows these mega-corporations to reach out across the globe and compete for talent and resources – constantly innovating and keeping pace with customer demands Job security and long-term service with an organisation in return for employee commitment and flexibility PWC – Future of work 2022 lorainedavies.com
- 10. The Green World – companies care Driving goal How to compete Employee value proposition (the ‘deal’) Positive social and environmental impact A social and environmental conscience is demanded by customers and staff right through the organisation and its supply chain. The organisation must get it right in order to survive and compete Ethical values and work – life balance in return for loyalty towards an organisation that does right by its employees. lorainedavies.com
- 11. The Orange World – small is beautiful Driving goal How to compete Employee value proposition (the ‘deal’) Maximising flexibility while minimising fixed costs Embracing the rise of the portfolio career, hiring a diverse mix of people on an affordable, ad hoc basis Flexibility, autonomy and varied challenges in return for working on a short-term contractual basis lorainedavies.com
- 12. By 2022 • All three business types continue to exist but… Big businesses are increasingly outflanked by a vibrant, innovative and entrepreneurial middle market
- 13. Unparalleled opportunities • New and more productive jobs • Global digital assembly lines • Greater say for workers • Increased flexibility
- 14. Unparalleled challenges • Fears of mass unemployment • Significant upheaval • Adjustment costs borne by the low-skilled • Increase in demand for higher level skills • New forms of work raise concerns about the quality of jobs that are created • Limiting manufacturing sector jobs limits sharing of increased prosperity • Harder to generate the job growth required • Harder to provide young people with the right skills to find good jobs
- 15. Key employability skills debate (1) • Commercial awareness or business acumen • Communication • Teamwork • Negotiation and persuasion • Problem solving • Leadership • Organisation • Perseverance, motivation • Ability to work under pressure • Confidence
- 16. Key employability skills debate (2) • Leadership skills 62% • Management skills 62% • Interpersonal skills 53% • Innovation and creativity 45% • Resilience 43% • Technical/specialist skills 40% • IT skills 40% • Sales/marketing skills 32% • Client management skills 24%
- 18. Why anyone buys anything • Basic need • Replacement • Urgency or scarcity • Great value • A good cause • Brand recognition
- 19. Why companies buy talent • Basic need • Replacement • Urgency or scarcity • Great value • A good cause • Brand recognition
- 20. The journey anyone who buys anything goes on • Identifying a need • Research • Discovery • Getting in touch • Participating in the selling process • Confirming the purchase • Converting to loyalty and becoming advocates
- 21. The journey companies go on when they buy talent • Identifying a need • Research • Discovery • Getting in touch • Participating in the selling process • Confirming the purchase • Converting to loyalty and becoming advocates
- 22. The value proposition A clear statement that explains: • How you solve your customers' problems or improve their situation • How you deliver specific benefits • Tells your ideal customer why they should buy you, not someone else
- 23. A great value proposition… • establishes your value • focuses on the key jobs, pains and gains • focuses on unsatisfied jobs, unresolved pains, unrealised gains • focuses on jobs, pains and gains a lot of companies have or • targets niche jobs, pains and gains but does so extremely well or • targets a few people will pay a great deal of money for you • goes beyond jobs and address emotional and social needs • aligns with how companies measure success • differentiates you from your competition • provides evidence of ability to outperform the competition • is difficult to copy
- 24. Have your KASH in hand • Knowledge • Attitude • Skills • Habits
- 25. Where does that leave us? • Giants or grasshoppers? • Anointing of the sons of Issachar • Create a great value proposition • Have your KASH in hand
- 26. As we end… I declare that I am special in Jesus’ eyes, I am of great value to Him and He loves me unconditionally. I have an awesome destiny. Jesus has equipped me with gifts, talents and abilities. Today, I receive the abundance of grace and the gift of righteousness to reign in life. I give thanks that His favour surrounds me like a shield and opens doors of opportunities for me. Because of Jesus, I shall be the head and not the tail, above and not beneath, the lender and not the borrower. I shall not suffer lack but be surrounded by His abundance, His wisdom, His peace and His protection. Thank You, Jesus, for Your finished work at the cross for me. I receive a fresh revelation of Your love right now and thank You that everything my hands touch shall be blessed! I believe with all my heart that I am greatly blessed, highly favoured and deeply loved. Amen. lorainedavies.com
Editor's Notes
- Welcome to optimising your career potential, great to meet you, thank you for coming
- I’m Loraine I am an award-winning director with extensive strategic planning, organisational development and commercial experience. I have worked as a very senior manager in the Finance, Charity and Legal Sectors and also in the Media Industry. I’ve been a Commercial Director – running sales, events and marketing teams, an HR Vice President, a Leadership and Organisational Development Consultant, an Interim Manager... The majority of the roles I’ve had have involved me taking failing teams and/or products and turning them around or launching new teams and products and making them a success. So I know first-hand what organisations need from their employees in order to be successful. I left full-time employment two years ago and now have a portfolio of activities that provide me with income: I am a business owner – I run a Virtual Assistant business I speak at conferences and events I am the “go to” content writer for a business that develops websites and promotional material I manage social media marketing for a couple of clients Recently, I have been asked to join a recruitment consultancy to improve their sales and marketing reach and deliver added value to their recruitment processes and I am writing a book And we’ll see later that having a being able to adapt my knowledge, attitudes, skills and habits and pull out the specific things I need for the roles I take one will ensure I am fit for the future of work. We’ll also see that in common with an increasing number of workers, my search for work-life integration drove my decision to adopt portfolio working. I am married to a Pastor and we are full-on in the Kingdom and separating work and Kingdom activities is not an option for us. We want to be fully ourselves, all the time. Integrating professional and Kingdom activities has meant I can preach, and teach, and run a fantastic event called the Free Family Fun Festival that reaches 10,000 people in Colchester, and I can run an annual women’s conference with Bolaji and Margaret and I can stay on top of my professional game.
- Four mega trends affecting future of work Three main worlds of work and see which one is preeminent in future (the future is orange) Opportunities and challenges presented by the global trends Key employability skills debate Why companies buy talent The recruiter journey Creating “Brand you” Questions
- There are four ongoing mega trends which have the potential to significantly alter the nature of work in all G20 countries, albeit with different intensity. Globalisation, technological progress, demographic change and value changes are having a profound impact on labour markets, affecting both the quantity and quality of jobs that are available, as well as how and by whom they are carried out.
- The world economy is becoming integrated through trade at an unprecedented pace. Trade as a share of GDP has risen in both emerging and advanced G20 economies and many of the emerging economies have become major players in the world market, both as exporters and importers. The rapid fall in the cost of communication and transportation has promoted the integration of goods and services markets. Innovation has allowed new trends to develop, including segmentation of production through offshoring, and global out-sourcing The integration of product, service, financial and technology markets is having significant consequences for labour markets around the world, as they become increasingly interconnected. E.g. 30% and 40% of jobs in the business sector in most European countries in 2011 were sustained by consumers in foreign markets (OECD, 2016a)
- We are seeing unprecedented technological progress including: Unbundling activities resulting in the “gig”, “on-demand”, “sharing” or “platform” economy. Would anyone like to give me an example? AirBnB, Uber, Virtual Assistants, Upwork, Uber, Etsy Increased sophistication in robotics and the development of AI (Artificial Intelligence) technologies is disrupting work. Saw this week that Google Assistant is poised to make actual phone calls for you – book appointments, order goods… Larry Kim. Technological progress is leading to global relocation. Example? Call centres moving from advanced economies to emerging economies Disruptive innovations, e.g. the web (mag publishing), online only brands such as Asos Collaborative networks, e.g. Zoom meetings, Skype calls, virtual business networks, testing strategies using gaming
- Dramatic decline in the share of the working-age population in some nations, e.g. the working population accounts of only 28% pf people in Japan, 23% in Italy and Germany, 21% in the Russian Federation and China) In others, the working-age population is likely to swell significantly by 2050 e.g. +41% in Saudi Arabia, +33% in India, +27% in Australia, and +26% in Mexico and Argentina In countries with ageing populations there are likely to be shortages of qualified labour as large cohorts of older workers retire Population ageing is also likely to lead to important reallocations of labour and resources across sectors and occupations as consumer tastes change. Anyone want to take a guess at why? Demand is likely to shift from durable goods (such as cars) towards services (such as health care or care homes) In countries with a young and growing workforce, the opposite is likely to happen – so more focus on durable goods - as the middle class expands and rapid urbanisation takes place
- Changing demographics and technological advances are also having an impact on individual preferences and societal values – not just in terms of the goods and services they demand, but also in the way people choose to work. Existing forms of flexible work (like part time) are already considered to be too restrictive, The question for workers is not how many hours do I have to spend at work, but rather how many do I need to get the job done. Technology is increasingly allowing jobs to become customisable, with individuals able to choose who they work for, where they work, how much they work, and the pace at which they work As a result, the boundary between work and personal life is becoming increasingly blurred and we are witnessing a gradual move away from individuals trying to achieve a better “work-life balance” towards a greater “work-life integration” Increased focus on “why”. Why am I doing this? What is the value of this? The ‘Employee Experience Index around the Globe’ survey questioned 23,000 employees from diverse industries and organizations around the world. In the UK, meaningful work emerged as the single largest contributor to a positive employee experience: at 30%, 3 points above the global average. We value meaning There is also the increasing importance of the social and environmental agenda forcing fundamental changes to business strategy, e.g. Blue Planet effect and our response to plastic According to PWC we can divide the organisations dealing with these changes into three worlds. Let’s take a look at them…
- The Blue World consists mainly of corporates Examples of Blue World companies? PWC, Marsh, BT, LinkedIn Focus is on finance – profit – and market leadership and the employees receive job security in return for compliance
- Examples of Green companies? Charities, NHS Focus on making a difference, employees get meaning but… This world can be badly managed e.g. Oxfam scandal, bullying in charity sector, workers in NHS not getting work-life balance
- Examples of Orange companies? ETK
- By 2022 PWC say the orange world will outflank both blue and green world companies. That’s only four years away Their core teams will embody the philosophy and values of the company. The rest of the workers will come in and out on a project-by-project basis Some firms will compete on quality and specialisation, while others will offer commoditised price-dependent support (packages) Telepresence and virtual solutions will allow for greater remote working and extended global networks
- Which means that the future of work offers unparalleled opportunities. New technologies and new markets will generate new and more productive jobs. The ability to unbundle jobs into smaller tasks will allow work to be carried out more efficiently on a truly global, digital assembly line. In the future, workers are likely to have more say about who they work for, how much they work, as well as where and when they work. Such increased flexibility will provide greater opportunities for under-represented groups to participate into the labour market including women, senior workers and those with disabilities. But…
- There are unrivalled challenges: In advanced economies, workers are concerned about job opportunities lost to offshore and service outsourcing, globalisation and automation There is also concern at the increased vulnerability associated with job and income volatility Workers in emerging economies worry about the adverse consequences of trade liberalisation, lagging employment opportunities for growing labour forces, and competition from other emerging economies (OECD, 2012) A more general concern expressed by workers in all countries (advanced and emerging alike) is that globalisation is contributing to increased income inequality and poorer working conditions There will be significant upheaval as jobs are destroyed in some areas, while others emerge elsewhere. There will be a transition gap. The adjustment costs will be borne by the low-skilled and those currently performing routine tasks likely to be automated This will drive an increase in demand for higher level skills, potentially leading to increases in inequality New forms of work raise concerns about the quality of jobs that are created. Not all gigs are good and there is no sense of a project completed It will be harder to generate the job growth required to provide employment opportunities for the large number of young people entering the labour market each year as many start in low skilled roles likely to be affected by automation Harder to provide these large cohorts of young people with the right skills to find good jobs. In my experience universities are not preparing graduates for current roles, let alone future ones
- There is also the continued debate on key employability skills. The Institute of Student Employers (ISE) 2017 annual report suggests these are the key skills employers are looking for 1. Commercial awareness (or business acumen) 2. Communication: verbal and written communication, and listening. 3. Teamwork 4. Negotiation and persuasion 5. Problem solving 6. Leadership 7. Organisation 8. Perseverance and motivation 9. Ability to work under pressure 10. Confidence
- But this is the list of the most important skills employers say employees must develop to drive company growth over the next five years (Flux Report by Right Management): Leadership skills 62% Management skills 62% Interpersonal skills 53% Innovation and creativity 45% Resilience 43% Technical/specialist skills 40% IT skills 40% Sales/marketing skills 32% Client management skills 24% There is a significant difference in the messages employers, recruitment companies and educators are sending to those wanting to enter or grow their potential in the world of work. And, of course, there is the biggest challenge to the world of work of all. That is:
- Women in the Workplace 2017, a study conducted by LeanIn.Org and McKinsey, surveyed 222 companies employing more than 12 million people, as well as taking data from another survey of over 70,000 employees and a series of qualitative interviews. It found women remain significantly underrepresented in the corporate pipeline. Fewer women than men are hired at the entry level, despite women being 57 percent of recent college graduates At every subsequent step up the corporate ladder, the representation of women declines, and women of colour face an even steeper drop-off at senior levels. As a result, one in five C-suite leaders is a woman, and fewer than one in 30 is a woman of colour And women are not leaving their companies at higher rates than men, and very few plan to leave the workforce to focus on family Compared with men of the same race and ethnicity, women are leaving their companies at similar rates: white women are leaving as frequently as white men, and we see the same pattern among women and men of colour. There is, however, a large racial gap: people of colour are significantly more likely to leave their organisations than their white colleagues. Women experience a workplace skewed in favour of men On average, women are promoted at a lower rate than men Entry-level women are 18 percent less likely to be promoted than their male peers And the disparity in promotions is not for lack of desire to advance. Women are just as interested in being promoted as men, and they ask for promotions at comparable rates Women of colour, particularly black women, face even greater challenges Women of colour face more obstacles and a steeper path to leadership, from receiving less support from managers to getting promoted more slowly Nearly 50 percent of men think women are well represented in leadership in companies where only one in ten senior leaders are women And men are less committed to gender-diversity efforts: 15 percent of men think their gender will make it harder for them to advance, and white men are almost twice as likely as men of colour to think this In this environment the best approach we can take to maximise our career potential is to see ourselves as valuable – regardless of how the world of work values us. To think of ourselves as a precious resource – a valuable product – and learn to sell ourselves to recruiters in the best way we can, without compromising. To remember we are the head, not the tail, we are above not the beneath and God delights in the prosperity of His people. So, how do we establish our value and sell ourselves to recruiters.
- We need to understand first why anyone buys things and then translate that into why recruiters “buy” new hires Basic need Replacement Urgency or scarcity Great value A good cause Brand recognition So, let’s change that to why companies buy talent?
- Why companies buy talent Basic need: There are essential tasks that must be completed for the company to survive Replacement: Someone has left and they must be replaced Urgency or scarcity: There is new need requiring a very specific or rare skill set e.g. UX specialists User Experience specialist Great value: There are individuals available at a cut price e.g. workies A good cause: believing in the cause, the call of altruism e.g. paid internships Brand recognition: we only ever recruit from red brick universities Now let’s look at the journey that anyone who buys things goes on
- Identifying a need: Basic need, Replacement, Urgency or scarcity, Great value, Altruism, Brand recognition Research: agencies, WOM, LinkedIn, CV library Discovery: finding you Getting in touch: setting interview/meeting Participating in the selling process: interview/meeting, terms, matching Confirming the purchase: offer Converting to loyalty and becoming advocates: joining and growing in the role Understanding the drivers and the journey companies go on in their search for talent helps us craft an application or a pitch that sets you apart from the rest. It’s all about the need. What does the company need that you can provide? And you identify that by creating your own value proposition.
- Every great brand has a distinctive value proposition Tell me what John Lewis value propositions is. Never knowingly undersold. John Lewis wants you to be confident they have the products you want and you won’t pay more than you need to for them To develop “Brand You!” you need to define your value proposition
- establishes your value: I am an award-winning director focuses on the jobs, pains and gains that matter most to your potential customers: crucial we tailor our pitch (CVs, letters, interview) to specifics the company cares about And/or focuses on unsatisfied jobs, unresolved pains, and unrealised gains: particularly relevant in companies who set a premium on ideas or innovation e.g. feature writers It can focuses on jobs, pains and gains that a lot of customers have: your training equips you to work in a variety of industries e.g. management accounts Or your proposition targets a few niche jobs, pains and gains but does so extremely well: you have specialised and are excellent in your chosen field e.g. Rashida’s bridal shop targets a few people will pay a great deal of money for you: you are a specialist for whom companies will pay a premium e.g. haute couture A great value propositions goes beyond functional jobs and address emotional and social needs: I am empathetic, great team builder, great trainer… It aligns with how customers measure success: important we research customers to understand their key performance indicators and what they think the return on their investment in you should be. That’s a great interview question by the way. What would you like the return on the investment in me to be? differentiates your from your competition on jobs, pains and gains that customers care about: I am efficient/kind/can do complex mathematical equations in my head provides evidence of ability to outperform the competition substantially or in at least one dimension: I have the best sales record in my existing team (have facts) is difficult to copy. I am an award-winning director As well as tightly honed value proposition, you need Kash
- Knowledge: MSc in HRM and Org Development, CMCIPD, I have a toolkit that includes models for personal development, business strategy, time management, coaching etc, I have an extensive network Attitude: fair-minded, believe in team but will press on alone if need to, believe in collaboration but not afraid to take decisions and lead, strong personal motivation and drive Skills: great interpersonal skills, analytical, good time management. I am an early adopter of business technology. I am a great resource investigator Habits: I get the job done – I am not a completer finisher. I am a launcher and transformer. A team builder. I identify skills in other people. Pulling together a value proposition that says who you are and how you can solve your recruiting company’s problems or improve their situation. Detailing the specific benefits – the KASH – you carry as a potential worker will tell your ideal employer why they should buy you, not someone else. It maximises your career potential and – if you ensure it is kept up to date – gives you n enduring market value
- The world of work is changing, dramatically and at a pace. We can choose to be cowed down by the inequalities and the challenges or we can choose to see world of commerce as God sees it. One of opportunity, where the wealth of the wicked is reserved for the righteous (Proverbs 13:22) and we are blessed to be a blessing (Gen 12:2) I do believe all of us need to ask God for the anointing of sons of Issachar so we can discern times and seasons and know what the people of God ought to do (1 Chronicles 12:32) I recommend creating a great value proposition for yourself, focused on selling the benefits of you to potential recruiters
- I think we have time for questions