1) The document discusses how the gap between available talent and jobs requiring certain skills is widening. Many employers report difficulty filling positions due to a lack of applicants with the necessary skills, experience, or qualifications.
2) It notes trends like emerging markets reshaping the global economy, rapid technological changes, and talent becoming a major driver of economic growth. However, 52% of US employers report trouble filling jobs as the US continues dealing with high unemployment.
3) The document advocates shifting from a "just-in-time" hiring approach to a strategic workforce plan that identifies current and future skill needs, ways to develop existing staff, and partners with education to better align curricula with employer demands.
Staff Attrition Rates and Staff Turnover Rates 2013great-with-talent
great{with}talent conducted research in October 2013 into attrition rates and staff turnover rates in the UK. This presentation shows significant trends relating to industry, attrition geography, employee retention challenges and what companies are doing to combat these issues.
They also offer predictions for future staff turnover rates and attrition rates.
The 2013 Kelly Global Workforce Index (KGWI) brings work and workplace insights sourced from more than 120,000 respondents from 31 countries across the Americas, EMEA and APAC regions.
This first installment, on the topic of Career Development and Upskilling, explores the changing focus on training and skills development, as employees become more proactive and self-reliant in managing their careers.
Staff Attrition Rates and Staff Turnover Rates 2013great-with-talent
great{with}talent conducted research in October 2013 into attrition rates and staff turnover rates in the UK. This presentation shows significant trends relating to industry, attrition geography, employee retention challenges and what companies are doing to combat these issues.
They also offer predictions for future staff turnover rates and attrition rates.
The 2013 Kelly Global Workforce Index (KGWI) brings work and workplace insights sourced from more than 120,000 respondents from 31 countries across the Americas, EMEA and APAC regions.
This first installment, on the topic of Career Development and Upskilling, explores the changing focus on training and skills development, as employees become more proactive and self-reliant in managing their careers.
This PowerPoint is regarding the Contemporary Issues and the Recent Trends and Challenges in Human Resource Management in 2020 at era of pandemic Covid-19. In the PowerPoint Presentation I am giving HR predictions on emerging HR trends at 2020 time. These predictions are based on an entire year’s study and analysis on human resource practices and evolving technology. Some organisations have already embraced these trends, while others are lagging far behind due to being unable to anticipate the future, lack of knowledge, or ignorance. The real key to adapting to and benefiting from HR trends in 2020 is not embracing every single one, but rather making an educated and conscious decision about which path to follow. I hope that this PowerPoint Presentation has provided you with the information you need to navigate the current hot topics within HR and HR trends in 2020.
www.hrleaderssaudi.com/report
This report provides insights on outlook for remuneration and employee benefits, areas of critical development for national entry-level candidates, Saudi specific drivers of employee engagement and what current challenges mean for HR
Andrea Jones, Lead Resourcing Business Partner, O2 (Telefónica UK) & Jude Harvey, Diversity and Inclusion Manager, O2 (Telefónica UK)
Diversity best practice in UK Market
O2’s Challenge – Why a returners programme
Blocks and Barriers
Results & future direction
Celebrating a decade of the Hays Salary Guide as it continues to be a trusted resource for thousands of employers across Canada.
PRESENTERS
- Speaker: Rowan O'Grady, President of Hays Canada
- Guest speaker: Kimberley Messer, Diversity & Inclusion expert at IBM.
KEY TAKEAWAYS
- Gain competitive advantage in attracting and retaining top talent
- Get your D&I program off the ground in a few easy steps
ROI on Strategic Talent Management: What a Business Should Expect from Their ...christa_dhimo
Talent Management is a competitive advantage, yet so many companies still base their HR metrics on "present state" instead of turning it into business data and "future state" related to strategy and advancing the business. ROI indicators should by definition promote the FUTURE return on your investment by promoting sound business-related programs to predict and influence that future state. Those rules apply to ALL strategic elements in business, yet so few apply it to Human Resource programs. This is a culmination of powerful data while presenting the story of how Strategic Talent Management can impact a business.
Employer Branding and Staff Attraction strategies in international ITO companiesKseniia Udovitskaia
Case study of two players in the international outsourcing domain - EPAM and Luxoft. Summary includes:
- Term paper structure
- Problem statement
- Missing pieces
- Theoretical part description
- Methodology
- Findings
This presentation provides an overview of the Sapphire Beef project. An opportunity to invest in an integrated beef supply chain in Queensland, Australia.
This PowerPoint is regarding the Contemporary Issues and the Recent Trends and Challenges in Human Resource Management in 2020 at era of pandemic Covid-19. In the PowerPoint Presentation I am giving HR predictions on emerging HR trends at 2020 time. These predictions are based on an entire year’s study and analysis on human resource practices and evolving technology. Some organisations have already embraced these trends, while others are lagging far behind due to being unable to anticipate the future, lack of knowledge, or ignorance. The real key to adapting to and benefiting from HR trends in 2020 is not embracing every single one, but rather making an educated and conscious decision about which path to follow. I hope that this PowerPoint Presentation has provided you with the information you need to navigate the current hot topics within HR and HR trends in 2020.
www.hrleaderssaudi.com/report
This report provides insights on outlook for remuneration and employee benefits, areas of critical development for national entry-level candidates, Saudi specific drivers of employee engagement and what current challenges mean for HR
Andrea Jones, Lead Resourcing Business Partner, O2 (Telefónica UK) & Jude Harvey, Diversity and Inclusion Manager, O2 (Telefónica UK)
Diversity best practice in UK Market
O2’s Challenge – Why a returners programme
Blocks and Barriers
Results & future direction
Celebrating a decade of the Hays Salary Guide as it continues to be a trusted resource for thousands of employers across Canada.
PRESENTERS
- Speaker: Rowan O'Grady, President of Hays Canada
- Guest speaker: Kimberley Messer, Diversity & Inclusion expert at IBM.
KEY TAKEAWAYS
- Gain competitive advantage in attracting and retaining top talent
- Get your D&I program off the ground in a few easy steps
ROI on Strategic Talent Management: What a Business Should Expect from Their ...christa_dhimo
Talent Management is a competitive advantage, yet so many companies still base their HR metrics on "present state" instead of turning it into business data and "future state" related to strategy and advancing the business. ROI indicators should by definition promote the FUTURE return on your investment by promoting sound business-related programs to predict and influence that future state. Those rules apply to ALL strategic elements in business, yet so few apply it to Human Resource programs. This is a culmination of powerful data while presenting the story of how Strategic Talent Management can impact a business.
Employer Branding and Staff Attraction strategies in international ITO companiesKseniia Udovitskaia
Case study of two players in the international outsourcing domain - EPAM and Luxoft. Summary includes:
- Term paper structure
- Problem statement
- Missing pieces
- Theoretical part description
- Methodology
- Findings
This presentation provides an overview of the Sapphire Beef project. An opportunity to invest in an integrated beef supply chain in Queensland, Australia.
Silicon Valley ICT Study: Review of Findings
Community Technology Forum
September 29, 2011
Project Goals:
Research and analysis to understand Silicon Valley ICT strategic advantages and growth trends.
Develop sustainable relationships among theWIBs and their stakeholders, IT employers,economic developers, and education and training providers.
Provide actionable results to help job-seekers navigate the ICT workplace, and the WIBs assist their clients.
Two Sides of the Same Coin: Recruiting and RetentionAggregage
In this webinar, Caitlin MacGregor will explore how predictive science helps organizations engage, attract and retain high-performing talent. Attendees will gain insight into understanding candidates’ human potential to unlock opportunity for their organizations to add value to their talent strategies.
With over 40 years in the staffing industry, we have helped our clients’ stay ahead of the curve by creating solutions that positively impact their’ key projects.
Now more than ever it is important to partner up with a staffing firm with the resources so you can benchmark your goals to what actually exists in the marketplace.
Finding and keeping great people has never been more important—or as competitive. As a result, once you’ve secured premier talent, the last thing you can afford to do is lose those employees. However, if your organization is like most, you are at risk of losing your key performers. There are four primary reasons your best people may be considering leaving and why a focus on greater employee engagement is so critical. To learn what they are—and how they might work for your business—be sure to view this broadcast.
VisionLink has been building rewards strategies for over 20 years. Now we want to share our secrets with you. Join us to learn the four steps to effective pay design and why each is essential.
Creating a workforce planning strategy presentation slides v.2 april 11- mic...michelecroci
Understand the essentials of Strategic Workforce Planning through a review of the overall planning process and the key steps involved. Included in the presentation are tools and understanding analytics as part of workforce planning.
A skills-based approach to employment creates a more equitable job market for all. In this deck, learn how your organization can become a skills-based employer by posting positions that reflect the skills you need, selecting candidates based on their skills, and helping incumbent employees develop new skills.
View related videos:
Welcome to the Future of HCM https://www.youtube.com/watch?v=lpuYpJWD58k
Trend setting results from OI Global 3rd annual Global Survey along with a unique look at the use of AI across a number of very “human” functions such as profiling, recruiting and developing talent.
Closing the Employee Skills Gap: A Framework for Future Success | Webinar 08....BizLibrary
According to the US Department of Labor July 2014 report, there are more than 9.7 million people seeking work that are unemployed. At the same time, US Bureau of Labor statistic reports there are 4.5 million unfilled job openings in the US economy.
www.bizlibrary.com
Right Quarterly 2nd quarter 2013: Career DevelopmentChris Jones
The Second
Quarter edition of the APAC Right
Quarterly is dedicated to Career Management.
The first article called “Developing Talent: How
Career Opportunities drive Business
Performance”, builds upon our core mission
in Right Management, of working with clients
to help align their talent strategy with their
business strategy. Employee engagement
and retention is a critical challenge for many
organizations, and this article talks of how
career development can significantly push
employee engagement. But even career
development needs a structured approach for
effective implementation to ensure business
results.
The second article on “Career Directions:
Having the right Career Conversations”,
shares a case study of an Australian client
who is working towards their 2017 Workforce
plan. An important impact of this will be in
the working environment for the division. To
help employees adapt to this change, Right
Management worked with them to create and
implement a career development initiative for
employees. The aim was on building Coaching
capabilities in People Leaders, and to equip Self leaders with skills necessary to enable
them to make their own career decisions.
The objective was also to align employee
development with future corporate needs,
while also developing career agility.
Talent attraction for the modern recruiterSoraya Lavery
Learn some simple methods to develop a strong talent attraction brand that attracts the "right fit" candidates for your company. Also how to retain key staff and provide a positive return on investment for your organisation.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
2. 2 82 400,000 worldwide clients countries and territories 4,400 offices worldwide 800 offices in North America North American employees 457,000 The Facts About Manpower 4 million employees worldwide
4. ManpowerGroup ManpowerGroupTM is the world leader in innovative workforce solutions. We leverage our global reach and local expertise of tens of thousands of people across more than 80 countries, making it possible for businesses to access the talent they need when they need it. ManpowerGroupTM Solutions provides clients with human resources outsourcing services primarily in the areas of large-scale recruiting and outcome-based workforce-intensive initiatives, thereby sharing in the risk and reward with our clients. ExperisTM is the global leader in professional resourcing and project-based workforce solutions. With operations in more than 50 countries, we deliver 53 million hours of professional talent specializing in IT, Finance and Engineering to accelerate clients’ businesses each year. Right Management®is the global leader in talent and career management workforce solutions. Through our innovative and proprietary process, we leverage our expertise to successfully increase productivity and optimize business performance.. Manpower®is the global leader in contingent and permanent recruitment workforce solutions. We provide the personal flexibility and agility businesses need with a continuum of staffing solutions.
5. Forces of change in the world Emerging markets are reshaping the global economy… Widening the gap between the have’s and the have not’s. Rapid technological innovation is creating transparency and lowering transaction costs. Talent is the new ‘it’ – unleashing human potential becomes the major agent of economic growth.
9. About the ManpowerGroup Talent Shortage survey 6th annual survey More than 1,300 employers surveyed in the U.S. Nearly 40,000 globally 39 countries and territories Research conducted in Q1 2011
13. Top ten jobs in the U.S. Skilled Trades Sales Representatives Engineers Drivers Accounting & Finance IT Staff Management/Executives Teachers Secretaries, PAs, Admins Machinist/Machine Operator
14. Why are employers having difficulty? Looking for more pay than is offered. Lack of "hard" job skills or technical skills. Lack of experience. Lack of available applicants/no applicants. Don't possess the right values and mindset. Lack of knowledge of business or academic disciplines.
15. More reasons why Don't possess the right personality and intelligence. Lack of applicants willing to work on a part-time or contingent basis. Lack of "soft" skills or interpersonal and communication skills. Undesirable geographic destination. Poor image of business sector or occupation.
16. To sustain economic growth, by 2030 the U.S. will need to add more than 25 million workers. World Economic Forum
17. Just-in-time hiring Settle for available candidates. Find the teachable fit. Stretch the existing workforce.
18. Make the jump to workforce strategy Just-in-Time Hiring Workforce Strategy Workforce Plan
19. Recalibrate Just-in-time hiring: Hiring from a restricted pool of available workers, who may not possess the necessary skills and capabilities. Workforce plan: Identifies current internal demand and specifies the skills needed to accelerate business success. Considers existing workers and their development and training. Identifies current pools of talent and outlines methods to tap into this resource.
20. Workforce strategy Clarifies outcomes needed from the organization to achieve business strategy. Evolves to reflect workforce trends and business requirements. Identifies training and development programs to accelerate the learning of existing employees and alleviate the challenges faced by an aging workforce. Outlines collaborative opportunities to partner with education and government institutions to tackle the skills mismatch. Considers external factors.
21. What strategies are you pursuing? Changing recruitment strategies. Focusing more on staff retention in jobs where recruitment is difficult. Providing additional training and development to existing staff to fill vacancies. Broadening search outside of your local region. Partnering with educational institutions to create curriculum aligned to your talent needs. Increasing the focus on improving your pipeline.
22. More strategies Broadening search outside of your country. Increasing starting salaries. Enhancing benefits packages, including signing bonuses. Creating an interim role for best fit internal individual/team. Providing clear career development opportunities to applicants during recruitment. Providing virtual work approaches to applicants.
23. By 2020 there will be 123 million high-skill, high-pay jobs available in the U.S., but only 50 million Americans with the right education to fill them. Economist Intelligence Unit
24. Now that you understand… The talent mismatch gap is widening. Doing more with less is not an option in the future. The hardest jobs to fill are vital to your success. A workforce strategy is key. Are you ready?
25. Thank you! Thomas E. Baity thomas.baity@manpower.com www.manpowergroup.com For more go to www.manpowergroup.com/research/
Editor's Notes
The ManpowerGroup’s depth and breadth gives us access to labor market information around the world. We gather that information from clients and candidates as well as perform research to keep up with the changing world of work.We put over 500,000 people to work every dayWe have over 4,000 offices across 82 countries We train over 9 million people each yearWe have over 30,000 employees and over 400,000 clientsWe are the global leader in Recruitment Process OutsourcingWe have the world’s largest IT professional placement firm – in ExperisWe have the world’s largest outplacement firm – at Right ManagementAs you’re going to learn today, access to talent is the key competitive differentiator. We give our clients access to that talent.Transition: Now let’s get started – what global forces and workforce trends are dramatically changing the labor market?
We take an outside-in view to understanding how the world of work is changing. In order to understand global and local labor markets you must understand the forces that are changing them. There are many forces of change, but these are the ones that are emerging to have the greatest impact on the trends shaping the world of work. China, India, Brazil, etc. – are rising in power, while developed markets seem to be more challenged and significantly impacted by the demographic landscape ultimately reshaping the global economy. For example, in Japan the fertility rates are so low that the young people coming into the workforce aren’t able to replace the aging population.The shift of wealth that comes with this global readjustment is widening the gap between the haves and the have not's. It isn’t just about wealth, it is also about education, skills and opportunity. This is social bifurcation. And of course technology is changing our lives, blurring the lines between work and play, creating transparency, lowering the cost of transactions and giving access to information and individuals. All of these factors make talent the new competitive advantage – the new ‘it.’ We believe that countries and companies can unleash human potential as major agents of economic growth. We call this force talentism, where a workforce strategy to get, keep and unleash this talent will be as important to your success as your capital strategy. These trends are so impactful that we are on the cusp of a new era – the HUMAN AGE where human potential will be the catalyst of change and the driving force economically, politically and socially.Transition: So what does all this mean to you here in California?
Now let’s discuss a few trends that impact your business and change how you approach your talent strategies. The Talent Mismatch is deepening as the working age population declines and the nature of work changes.Organizations will need agile attraction and retention strategies.Critical skills shortages will accelerate the mobility of workers and work.There will be increased pressure to keep older workers engaged longer.Continuous training and development will be required to maintain a job-ready workforce.Individual Choice will be exercised by those with the skills that are most in demand.Companies need to better understand individuals’ motivations and work preferences.Strategies will be needed to attract, engage and manage the multi-generational workforce.Segmented candidate attraction models will be required.Employer brand and reputation will become increasingly important.Individuals will “own” their careers and development.Technological Revolutions have the power to change where, when and how we work.Increased transparency has changed the definition of valuable data.Unsubstantiated information increases the importance of verification.Technology and global labor arbitrage (offshoring) increase individuals’ and organizations’ choice of where, when and how work is performed.And finally, rising Customer Sophistication requires businesses to deliver greater value and efficiency.Responses and solutions will need to be faster, more agile, differentiated and global.Intensified price / value compression puts increased pressure on productivity. Talent will become a key competitive differentiator.A company’s practices are under increased scrutiny – they must stand up to total transparency.Transition: With these forces and trends as the backdrop, let’s begin talking about the talent shortage.
The global forces and trends we just talked about impact the supply of talent in the world. The population is aging, people don’t have the skills necessary for 21st century jobs and customers are smarter than ever before. This makes talent the key competitive differentiator – all of this adds up to an environment where unemployment remains high:According to the BLS (these are April numbers – make sure they are current):In the U.S., unemployment is at 9.0% for April 2011.Nonfarm payroll rose 244,000 in April.The last three months averaged 233,000 new jobs per month – compared to the previous three month average of 104,000 per month.At the same time, people are looking for work, but those people don’t have the requisite skills you need for your business. This increase in jobs could put additional pressure on companies as they search for talent.While not all employers worldwide are feeling the pain associated with the global talent shortage, it’s likely they will soon feel pressure. And, so will you. Business leaders worldwide are grappling with new demands for productivity and innovation, and in this challenging environment they are discovering that only talent can deliver it.
Organizations are operating in the “new normal,” where the economic pressures of the last few years have forced them to do more with less. They’ve discovered that they can accomplish amazing things despite reduced resources – as long as they have the right people in place. As we enter the Human Age, when human spirit and potential will become the driving force behind enterprise and innovation, having the right people in the right place at the right time becomes more critical than ever.Yet, as the global economic recovery continues, employers report increased difficulty filling open positions – despite an apparent surplus of talent amid high unemployment.
This year, we expanded our sixth annual Talent Shortage Survey not only to gauge where employers are having difficulty filling available positions, but also examine why organizations are facing a lack of talent and what they are doing to mitigate these challenges.
Let’s talk about the results.
Employers are more likely to report difficulty this year than at any point since we started the survey. While the global economic downturn may have masked the talent shortage for several years, the global recovery has made the strains of the talent shortage more evident.This slide shows the huge jump in U.S. employers reporting difficulty filling positions. This year, 52% of employers report difficulty while last year it was 14%.This slide also shows the comparison to the global average numbers.
This year, for the first time, we asked employers about the impact unfilled jobs have on their key constituents (customers, investors, organization, etc.). Nearly three-quarters of the employers we talked to report that when positions are not filled in a timely manner there was a high or medium impact on key constituents.The fact that nearly 30% of organizations believe the impact is low or non-existent is alarming. Employers may be delaying hiring until they see more demand. These companies are content to leave job vacancies unfilled until their respective economies pick up. And many employers believe they can simply attract the talent they need when they need it with better pay and incentives. This “I can buy it when I need it” approach is shortsighted as many organizations may increase hiring simultaneously – exacerbating the talent shortage. In either case, these companies may be in for a rude awakening when the labor market further tightens and they have not developed a firm strategy for attracting and retaining the right talent.
Now for the list. Sales reps and skilled trades have topped the list two years in a row (although their ranking flip-flopped – last year sales reps were #1). And sales reps have been on the list for the past six years – each year we’ve done the survey. Over half of this year’s jobs were on last year’s list – and many have appeared over and over. Other jobs that appear often include: engineers, IT staff and machinists.Why have these jobs perennially been on the list? There are many answers to that question:The jobs have structurally changed and the skills needed to do the job have changed, too. The average age of many of these positions is quite high – the aging workforce is retiring leaving openings.In some cases, these jobs are not as attractive to young people.
To explore the main reasons why employers have difficulty filling positions, respondents could select choices from three main areas: candidate-specific factors, such as lack of experience; environmental/market factors, such as reluctance to change jobs in the current economic climate; and organizational factors, such as the company not having a strong employer brand.The reasons on this slide and the next are in order – “looking for more pay than is offered” was the number 1 reason cited. That’s the only organizational factor listed in this list of top responses. “More pay” could be a supply and demand issue – if I’m the candidate with the skills you need, it is likely I’m in demand in the marketplace, so I can demand more money.But the vast majority of employers site candidate-specific reasons for being unable to fill vacancies – the candidates employers are seeing just don’t measure up. Companies cited a lack of experience, technical skills deficiencies or poor soft skills among available candidates as a bar to employability. Having workplace skills such as collaboration, critical thinking and agility are critical to generate productivity and innovation.
Here are more reasons why employers are struggling to fill positions. Again notice the candidate-specific factors such as personality and intelligence and lack of soft skills.
We’ve talked about the fact that over half of the U.S. employers surveyed are having trouble filling key positions within their organizations. I’ve shown you the list of hardest jobs to fill – topped by skilled trades, sales reps and engineers. And, we’ve talked about why employers are struggling – there are environmental and market factors as well as organizational and candidate-specific factors that make hiring the right person difficult.So what can you do about it?
In the past, employers have adopted a “just in time” approach to hiring because talent was always there when they needed it. Today, employers can no longer afford to do this because external forces – that we talked about earlier – make it an unviable solution. Companies who continue to take this short-sighted approach will jeopardize their business, because in the short-term, employers are faced with three just-in-time choices:Available candidates: You can continue with the “just in time” approach to hiring, recruiting from the pool of available workers who likely do not present a satisfactory skills match, but will allow you to quickly ramp up your workforce.Teachable fit: Hire (or promote from within) those who may not possess all the technical skills necessary to perform a business-critical role but have the right mindset and “soft” skills. They have the aptitude and capability to develop into the position.Stretch existing workforce: Drive the current workforce to take on more responsibility, improving productivity and efficiency.But talent simply can’t be “manufactured” in the short-term. It can, however, be “manufactured” in the long term by developing a robust workforce strategy – so let’s talk about workforce strategy.
Organizations need to recalibrate their mindsets to move away from only hiring just-in-time talent to predicting long-term talent needs. The approach must go beyond an internally focused workforce plan to a holistic workforce strategy that balances external supply with internal demand.According to our research, only 13% of HR leaders say they have a documented workforce strategy beyond their business plan.
Employers can’t assume that the right talent will be where and when they need it.And a simple workforce plan may not be enough. As you know, the “manufacturing” of talent is not an overnight process – it takes time to develop and companies must strategize accordingly.The next level is to have a comprehensive workforce strategy in place.
Here is where we believe true business success is achieved. A robust workforce strategy should be based on the company’s business strategy and take culture, structure, talent, people systems and processes into account. It should identify the gaps between talent that is available and the talent that will be needed. And, it should consider important external factors that could affect future talent sources – such as demographic shifts, the rise in emerging markets and rapidly evolving technology.Companies that employ a workforce strategy are better prepared to successfully fill the positions they need to succeed.Start thinking about how you fit into this strategy as a partner…I have a few more slides and then we’ll spend some time discussing this.Transition: Let’s go back to our Talent Shortage survey results to find out what other companies are doing to overcome the talent shortage. What parts of a workforce strategy are those we surveyed using?
We asked employers what they were doing to overcome their talent shortage. This slide shows the first six responses.Some of these solutions are short-term and other have a longer-term focus. We encourage partnering with educational institutions – all of the places where people learn should be more closely aligned with business to make sure we’re teaching people what they need to succeed in the contemporary world of work.I’m happy to see that employers are considering their existing employees. Focusing on retention and investing in training and development are good ways to make sure you have the talent you need.But we’ll also have to look outside for new employees – so improving recruitment strategies, focusing on the pipeline of candidates and looking outside of your region, either to relocate a new employee or to allow virtual work, are ways they will improve their chances of getting the talent.
Here are more strategies the employers we surveyed are using. You can looking outside your region and your can look outside your country for specific skills – again relocate the worker or allow virtual work across borders.Paying more and improving benefits is another solution, albeit an expensive one. But when the laws of supply and demand are strong, we may have to pay more for that candidate who has the skills we’re looking for.All of these strategies can be part of that comprehensive workforce strategy that looks at the overall business strategy, training and development programs, collaborative opportunities and external influences.
This sobering statistic from the World Economic Forum says it all – if we don’t add a substantial number of skilled workers to our labor force, we won’t be able to sustain economic growth.
Our latest talent shortage survey tells us that we have to start now taking a longer-term view of talent and develop a robust workforce strategy. Over 50% of the employers we surveyed indicate they are struggling to find workers. The list of hardest jobs to fill includes positions that are key to a companies success and the reasons why talent is so hard to find are varied across organizational, candidate-specific and environment/market factors.Strategies currently used to try to overcome this shortage are not all short-term fixes – they require a strategic approach to workforce planning, investments in training and development, improving the pipeline, looking in new geographic regions, partnering with educational institutions and paying people more.As the global economy continues to improve, the talent shortage will become more pronounced and businesses that dramatically reduced their workforce during the recession will be competing for talent in a complex environment. In the Human Age, talent has become the key competitive differentiator for organizations – and successful businesses will be those that recognize the key to productivity and innovation is to harness the talent and potential of humans.Now, we have XX minutes left – please take 10 minutes to talk with your table about how your organization needs to adapt. I’ll ask for a few volunteers to share their thoughts when you are done.