Crisis Round the Corner
Presented By:
Meghna Verma
Indian Institute of Management, Lucknow
Presentation Plan
• What CRISIS?
• What does crisis in our scenario means?
• Response to crisis
What CRISIS?
“Twenty years from now, the world will need millions of new business
professionals, engineers, doctors, IT sp...
Roots of the CRISIS
• Roots of this crisis is different in the two
economies.
In most of developed economies
• Retirement ...
What Does This Crisis Means for Us?
Asia-Pacific: % Having Difficulty Filling
Jobs

India’s: % having difficulty filing jobs: 48%

Source: Manpower Group: 201...
India: Top 10 Jobs Employers are
Having Difficulty in Filling

Source: Manpower Group: 2012 Talent Shortage Survey Researc...
The Indian Workforce Scenario
• The Gen-Y dominance
Issue to be Addressed

Low
employability
skills

Changing
expectations of
Gen-Y workforce
What Gen-Y Desires?
•
•
•
•
•
•
•
•

Skill recognition resources
Employer Brand Value proposition
Accessible Talent Border...
Manufacturing Sector Projected Job
Growth Rate (India)
Jobs

CAGR (2010-2020)

Total demand

0-2%

Legislators, Senior Off...
Combining the Scenarios
• There is going to be a Talent Scarcity, leading to
Talent warfare.
• Companies and nations would...
Response to Crisis

BCG seven responses to Global Talent
Crisis
Introduce Strategic Workforce Planning
Define job families and future critical
skills
Model workforce supply and demand
wi...
Ease Migration
Establish multilingual and virtual company
presence beyond national borders and
neighboring countries
Seek ...
Foster Brain Circulation
Offer generous return packages to highly skilled
people and relocation assistance, including
spou...
Develop a Talent “trellis’
“Step into the talent’s shoes” to understand what
diverse talented employees seek (compensation...
Encourage Temporary Mobility & Virtual
Work
Introduce flexible work arrangements
Explore virtual work opportunities for
em...
Extend the Talent Pool
Create a presence for the company brand
at universities locally and internationally
Display cultura...
Increase Employability
Make education a priority of the CSR agenda

Offer internship and vocational training
opportunities...
References
• Manpower solutions: 2012 Talent Shortage Survey Research
Results
• World economic forum and BCG Report: Globa...
Thank You
Questions?
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Global Talent Crisis

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Global Talent Crisis

  1. 1. Crisis Round the Corner Presented By: Meghna Verma Indian Institute of Management, Lucknow
  2. 2. Presentation Plan • What CRISIS? • What does crisis in our scenario means? • Response to crisis
  3. 3. What CRISIS? “Twenty years from now, the world will need millions of new business professionals, engineers, doctors, IT specialists, scientific researches, technicians, teachers, plumbers and nurses. Twenty years from now, we may not have them” -Jean Charest, Premier of Quebec, Canada An era of ‘ Global Talent Scarcity’ Huge gap between Demand & Supply of Talent
  4. 4. Roots of the CRISIS • Roots of this crisis is different in the two economies. In most of developed economies • Retirement of Baby boomers In developing economies • Despite large number of young workforce, crisis is due to lower skill levels
  5. 5. What Does This Crisis Means for Us?
  6. 6. Asia-Pacific: % Having Difficulty Filling Jobs India’s: % having difficulty filing jobs: 48% Source: Manpower Group: 2012 Talent Shortage Survey Research Results
  7. 7. India: Top 10 Jobs Employers are Having Difficulty in Filling Source: Manpower Group: 2012 Talent Shortage Survey Research Results
  8. 8. The Indian Workforce Scenario • The Gen-Y dominance
  9. 9. Issue to be Addressed Low employability skills Changing expectations of Gen-Y workforce
  10. 10. What Gen-Y Desires? • • • • • • • • Skill recognition resources Employer Brand Value proposition Accessible Talent Borders Diversity Inspiring work environment Virtual mobility Lifelong learning opportunities Work-life flexibility Source: Deloitte: Generation Y: Changing the face of manufacturing Source: Boston Consulting group
  11. 11. Manufacturing Sector Projected Job Growth Rate (India) Jobs CAGR (2010-2020) Total demand 0-2% Legislators, Senior Officials & Managers 2% Professionals >4% Technicians & associated professionals 0-2% Clerks 0-2% Service & sales or worker >4 % Craft and related workers 0-2% Other occupations without talent focus 0-2% Demand trends for professionals in manufacturing are expected to exceed 4% CAGR across country types, with developing countries peeking more than 10% CAGR. Source: Laborsta: OEDC: Boston Scientific Group
  12. 12. Combining the Scenarios • There is going to be a Talent Scarcity, leading to Talent warfare. • Companies and nations would be competing for the best talent • Skills needed for the business by 2020 and beyond needs to be developed today • Shift in workforce demographics, has changed the employee expectations • Companies needs to match up these expectations to grab the best and the brightest
  13. 13. Response to Crisis BCG seven responses to Global Talent Crisis
  14. 14. Introduce Strategic Workforce Planning Define job families and future critical skills Model workforce supply and demand with a 5 to 10 year planning horizon Undertake a gap analysis to uncover potential shortages and surpluses Link workforce planning to the company’s business strategy Systematically determine actions from gap analysis; develop skills database for potential job rotations Inform employees of the skills they will need in future growth areas
  15. 15. Ease Migration Establish multilingual and virtual company presence beyond national borders and neighboring countries Seek expertise in immigrant pools while investing in the development of current employees Recruit beyond national borders and neighboring countries Brand your company as “talent friendly” Foster a migration- friendly culture
  16. 16. Foster Brain Circulation Offer generous return packages to highly skilled people and relocation assistance, including spouse career services and child care programs Keep your talent mobile through: Horizontal and vertical mobility within the company International assignments Job rotation Encourage employees to take short- term assignments or sabbaticals abroad Encourage foreign employees to build relationships with potential partners businesses in their home countries
  17. 17. Develop a Talent “trellis’ “Step into the talent’s shoes” to understand what diverse talented employees seek (compensation, organizational flexibility, meaningfulness of business, etc) Develop long term retention strategies to retain scarce talent Provide a variety of development opportunities, such as virtual/cultural training, entrepreneurial training, peer-to-peer learning and lifelong learning Ensure horizontal and vertical mobility Build an international profile and use web 2.0/social media to attract, recruit and retain scarce resource
  18. 18. Encourage Temporary Mobility & Virtual Work Introduce flexible work arrangements Explore virtual work opportunities for employees abroad Set up rotation programmes and shortterm assignment between business units and geographies Foster virtual recruiting events and activities
  19. 19. Extend the Talent Pool Create a presence for the company brand at universities locally and internationally Display cultural sensitivity in targeting minorities and women Give employees support to contribute part-time as they raise families Engage retires(your own or those of other companies) to mentor, consult or complete short term assignments Recruit from other industries’ pool with similar skill sets
  20. 20. Increase Employability Make education a priority of the CSR agenda Offer internship and vocational training opportunities Offer certified training opportunities beyond current job and educational leaves to foster up skilling Engage with academia and government to equip talent with a balance of theoretical and practical skills
  21. 21. References • Manpower solutions: 2012 Talent Shortage Survey Research Results • World economic forum and BCG Report: Global Talent Riskseven response(2011) • Deloitte : Managing the Talent Crisis in Global Manufacturing
  22. 22. Thank You
  23. 23. Questions?

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