Future of talent management drivers and trends

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The next generation of talent management practices and solutions will be impacted by three major factors:

economic evolution
demographic changes
technology advancements

These factors are dramatically influencing the way people work, the way companies are organized, and the way talent is managed. This paper is the first of a two part series that will explore the changes needed in current business and talent management processes and technology to effectively deliver business value five to ten years from now. This first paper articulates and frames the key drivers of change. The second paper explores the resulting impacts to talent management processes and technologies.

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  • http://www.deloitte.com/assets/Dcom-SouthAfrica/Local%20Assets/Documents/Extracting%20maximum%20value%20from%20intellectual%20assets.pdf
  • http://www.deloitte.com/assets/Dcom-SouthAfrica/Local%20Assets/Documents/Extracting%20maximum%20value%20from%20intellectual%20assets.pdf
  • http://www.deloitte.com/assets/Dcom-SouthAfrica/Local%20Assets/Documents/Extracting%20maximum%20value%20from%20intellectual%20assets.pdf
  • http://www.deloitte.com/assets/Dcom-SouthAfrica/Local%20Assets/Documents/Extracting%20maximum%20value%20from%20intellectual%20assets.pdf
  • http://www.deloitte.com/assets/Dcom-SouthAfrica/Local%20Assets/Documents/Extracting%20maximum%20value%20from%20intellectual%20assets.pdf
  • Number of teams: < 1000Number of countries: 100+
  • Slide 14The other complexity is global and more specializedWork from anywhereLast year global mobile topped 1B; by 2013 1.2B; in U.S. 75% workers will be mobileBlessing and a curse[Click]
  • Future of talent management drivers and trends

    1. 1. FUTURE OF TALENT MANAGEMENTDrivers and Trends TA L E N T I N T E L L I G E N C E David Wilkins VP, Taleo Research
    2. 2. OUR AGENDA ›Economic drivers ›Demographic drivers ›Technology drivers ›Implications for Talent Management practices and focus2 TALENT INTELLIGENCE
    3. 3. OUR RESEARCH ›All-in, we interviewed 50+ ›Qualitative interviews with key thought leaders in leading firms and recognized industry experts ›Deep secondary research and analysis ›Not “survey research” – “sense-making” research about key trends3 TALENT INTELLIGENCE
    4. 4. INTANGIBLES: 80% AND GROWING Source: Deloitte, “Extracting Maximum Value from Intangible Assets” TALENT INTELLIGENCE
    5. 5. THE NEW COMPANY WALLS Formal content Social and informal content Human capital Workplace Talent TALENT INTELLIGENCE
    6. 6. THE NEW COMPANY WALLS Partner Talent Formal content Social and informal content Human capital Workplace Talent TALENT INTELLIGENCE
    7. 7. THE NEW COMPANY WALLS Partner Talent Formal content Customer Social and informal content Talent Human capital Workplace Talent Public Talent TALENT INTELLIGENCE
    8. 8. EXAMPLE BUSINESS MODELS TALENT INTELLIGENCE
    9. 9. INNOCENTIVE› Total Registered Solvers Approximately 250,000 from nearly 200 countries› Total Solver Reach More than 12 million› Total Challenges Posted to InnoCentive.com More than 1,200› Total Solution Submissions 24,256› Average Success Rate 50% TALENT INTELLIGENCE
    10. 10. TALENT INTELLIGENCE
    11. 11. “Besides the sheer thrill of seeing the winner place first by mere minutes after years of work, the Netflix Prize competition has proffered hard proof of a basic crowdsourcing concept: Better solutions come from unorganized people who are allowed to organize organically.”11 TALENT INTELLIGENCE
    12. 12. 12
    13. 13. ANOTHER COMPANY VIEW Company13 TALENT INTELLIGENCE
    14. 14. ANOTHER COMPANY VIEW Company 30% of the workforce is contingent: Contractors Agency Temp14 TALENT INTELLIGENCE
    15. 15. ANOTHER COMPANY VIEW Company 30% of the workforce is contingent: Contractors Agency Temp15 TALENT INTELLIGENCE
    16. 16. ANOTHER COMPANY VIEW Company And growing… 50% of companies plan to increase #s One prediction? Contingency will equal 40% of the workforce by 202016 TALENT INTELLIGENCE
    17. 17. WHAT IT MEANS… › Talent Management scope will expand › Talent inside the company, as always › Plus, contingent tracking, alumni, talent competitions › Talent professionals will be expected to advise on a full spectrum of talent options in a similar model to performance consultants › In other words, talent professionals will really start to own the full talent ecosystem…17 TALENT INTELLIGENCE
    18. 18. GLOBALIZATION 18
    19. 19. “34 percent of CHROs in growth markets say they anticipate increasing headcount in North America over the next three years, while 37 percent plan additional investment in Western Europe. This includes companies from India, where 45 percent of respondents indicated they plan to increase headcount in North America and 44 percent in Western Europe.”19 TALENT INTELLIGENCE
    20. 20. “34 percent of CHROs in growth markets say they anticipate increasing headcount in North America over the next three years, while 37 percent plan additional investment in Western Europe. This includes companies from India, where 45 percent of respondents indicated they plan to increase headcount in North America and 44 percent in Western Europe.”20 TALENT INTELLIGENCE
    21. 21. WHAT IT MEANS… › Talent is global › Even local companies will be competing for talent globally › It also means that local companies will need to defend their talent pools, not just against local competitors, but global firms, even ones from emerging markets › Virtual work will continue to increase with software advances › Local companies need to partner with universities to grow local talent and differentiate through personal, in-person connections21 TALENT INTELLIGENCE
    22. 22. 22 TALENT INTELLIGENCE
    23. 23. “Firms have jobs, but can’t find appropriate workers. The workers want to work, but can’t find appropriate jobs. … Whatever the source, though, it is hard to see how the Fed can do much to cure this problem. Monetary stimulus has provided conditions so that manufacturing plants want to hire new workers. But the Fed does not have a means to transform construction workers into manufacturing workers.”23 TALENT INTELLIGENCE
    24. 24. DEMOGRAPHICS24 TALENT INTELLIGENCE
    25. 25. DEMOGRAPHICS Country % Growth Russia -8% ›Summary Population Growth 2010-2020 Japan -5% –Slow growth, negative growth in developed world Germany -4% –Faster growth in developing world Poland -4% –In US, UK growth fueled through immigration Italy -1% –Less developed = more growth Greece 0% France 5% ›Implications UK 7% –Leadership need is a global phenomenon China 7% –Developing world all competing for same pool Brazil 13% –As developing world matures, pressures from there USA 14% –Reverse immigration to Poland, India, Mexico Mexico 15% –Deep, narrow talent pools vs wide and shallow Turkey 17% India 24% Nigeria 46%25 TALENT INTELLIGENCE
    26. 26. BUT NO EASY ANSWERS… › Countries in survey: – BRIC countries – Eastern Europe – Asia Pac – Poland – Mexico › Of 100 college grads… – On average just 13 hire-able – Lack of skills, culture fit – Location to major cities – Domestic competition https://www.mckinseyquarterly.com/Sizing_the_emerging_global_labor_market_163526 TALENT INTELLIGENCE
    27. 27. WHAT IT MEANS… › Good people, even great people, are getting increasingly shut out of the job market › There are bargains to be had for those companies that know how to discover fit and aptitude through better matching › Investing in workforce development is no longer just a company thing, it’s a country thing, an issue of global competitiveness › Skill shortages are going to smack people in the face once the economy rebounds – we’ve had a reprieve, but the War for Talent will be significantly worse than pre-recession › And traditional solutions, like importing labor, won’t be as simple27 TALENT INTELLIGENCE
    28. 28. MOBILE INTERNET ACCESS28 TALENT INTELLIGENCE
    29. 29. VIRTUAL WORK, VIRTUALLY ANYWHERE2010 1Bmobile workersBy 2013 1.2Bmobile workersIn the US75%will be mobile workers TALENT INTELLIGENCE
    30. 30. WHAT IT MEANS… › You need to support work styles that support your team › Millenials and Gen X live on mobile devices › (They even sleep with them…) › Companies that support work models that support their teams will attract better talent, tap into extra hours of productivity, and increase engagement › Also consider removing barriers to social networking… for most companies that know how to manage performance, social networking is the obvious pre-cursor to social sourcing and a foundation for tapping external talent30 TALENT INTELLIGENCE
    31. 31. Economic • Knowledge Economy • Globalization • Structural UnemploymentTechnology Demographics• Increasing Increase • Aging Economies• Digitization / Cloud • Increasing Health• Telecommunications • Workplace Diversity TALENT INTELLIGENCE
    32. 32. Economic • Knowledge Economy • Globalization • Structural UnemploymentTechnology• Increasing Increase• Digitization / Cloud• Telecommunications TALENT INTELLIGENCE
    33. 33. Economic• Knowledge Economy• Globalization• Structural Unemployment Demographics • Aging Economies • Increasing Health • Workplace Diversity TALENT INTELLIGENCE
    34. 34. Virtual, Global Talent Talent Mobility Employee Empowerment ContingencyTechnology Demographics• Increasing Increase • Aging Economies• Digitization / Cloud • Increasing Health• Telecommunications • Workplace Diversity TALENT INTELLIGENCE
    35. 35. Talent Matching and Discovery Economic Talent Agility and Mobility Talent Planning and Modeling • Knowledge Economy Talent Ecosystem Management • Globalization • Structural Unemployment Job PolarizationTechnology Demographics• Increasing Increase • Aging Economies• Digitization / Cloud • Increasing Health• Telecommunications • Workplace Diversity TALENT INTELLIGENCE
    36. 36. KEY TAKEAWAYS – THE BIG STUFF › Combination of economic, technology, demographic changes mean that businesses need better solutions to support: – Talent Matching and Discovery – Talent Agility and Mobility – Talent Planning and Modeling – Talent Ecosystem Management › Business and talent management process and data are merging › Personal empowerment means that core consumer of talent solutions include candidates, employees, managers, executives, and HR TALENT INTELLIGENCE

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