Teachable Fit: A New Approach for Easing the Talent Mismatch

Transcription

1 1 Fresh Perspectives Teachable Fit: A New Approach for Easing the Talent Mismatch

2 2 The world of work is changing We can help. {We ve been experts for 6 decades}

3 3 World of Work Trends Four megatrends critical to navigating the changing world of work:

4 4 Demographics / Talent Mismatch Trend #1: Demographics / Talent Mismatch Changes in demographics and social shifts means there are not enough people to fill available jobs. Implications: Older workforce will become more prevalent Migration for work will increase Multi-generations co-exist in work environments Unbalanced supply and demand

5 5 The Talent Mismatch: Are You Ready? 31% of employers worldwide said they are having trouble filling positions due to lack of suitable talent. This is because the global demand for highly skilled labor continues to grow, and the skills distribution of available workers doesn t match that demand.

6 6 The Talent Mismatch: Are You Ready?

7 7 Global Top 10 Hardest Jobs to Fill

8 8 Top 10 Hardest Jobs to Fill in Greece Greece 1. Sales Representatives 2. Technicians 3. Secretaries, Pas, Administrative Assistants & Office Support Staff 4. Accounting & Finance Staff 5. Management/Executives 6. IT Staff 7. Laborers 8. Mechanics 9. Skilled Trades 10. Customer Service Representatives & Customer Support Staff Total Number of Respondents: 750 Employers indicating difficulty filling positions: 29% Employers indicating no difficulty filling positions: 71% Margin of error: +/-3.6%

9 9 Why is it getting harder to find the right people?

10 10 Why is it getting harder to find the right people? Employers want it all. Employers are searching for ever more specific skill sets and combinations. They also want candidates with the soft skills, like critical thinking or public speaking, that will help the company excel. But they can t always find the perfect candidate. The exit of the Baby Boom generation from the workforce and the limited number of workers to take their places means there will be fewer available workers. Even in low-growth industries there is a lack of qualified candidates to meet current needs. Where there are systemic shortages, employers can t fill the gaps one position at a time.

11 The talent mismatch can t be fixed one hire at a time. We need a change of mindset. 11 Employers must recalibrate their mindsets to consider candidates who may not meet all the job specifications, but whose capability gaps can be filled in a timely and cost-effective way.

12 12 Training is vital. A commitment to training and development is central to building a sustainable talent strategy.

13 13 Manpower s Teachable Fit Framework

14 14 Manpower s Teachable Fit Framework To close the gap between employer needs and the abilities of candidates and employees, employers need to ask four questions: What capabilities are essential to performing the job? Which of these are teachable in an efficient way? Is there adequate time and money to develop these capabilities in the candidate? Do candidates have the capacity (motivation and capability) to develop them?

15 15 The Four Capability Groups of the Teachable Fit Framework Knowledge: Understanding of business or academic disciplines or industries. Skills: Demonstrated aptitudes and practices. Values and Mindset: Attitudes and preferences sought in work and life. Personality and Intelligence: Basic characteristics and mental traits.

16 16 Weighing Job Capabilities After examining the four areas of capability, the employer must weigh each on two scales: Is it important? How essential is the capability for performing the work well? Is it teachable? To what extent and with what degree can the capability be developed?

17 17 Teachable Fit Framework

18 18 Wind Services Technician Teachable Fit Framework (Simplified)

19 19 Building the Talent Pipeline via the Teachable Fit Framework

20 Building the Talent Pipeline via the Teachable Fit Framework To fill large and systemic talent gaps, there are four potential labor pools that are promising for finding talent that is a teachable fit. Location migrants Industry migrants Internal role changes Workforce entrants 20

21 21 Building the Talent Pipeline Location Migrants If the talent is not in your geographical location, consider looking elsewhere. The global workforce is more mobile than ever before, and this trend will only continue. But remember, migration isn t always across borders also look for talent within them.

22 22 Building the Talent Pipeline Industry Migrants If you can t find talent within your own industry, consider looking in an adjacent one. Industries that are experiencing low growth might have a surplus of talent, and these workers could have the capacity to fit your needs.

23 23 Building the Talent Pipeline Internal Role Changers If there s a shortage of available talent ready to deploy into a given role, consider developing that talent from within. Assessing your internal talent pool and finding candidates who are a teachable fit can not only save you recruiting cost, but boost employee engagement across your organization.

24 24 Building the Talent Pipeline Workforce Entrants If you can t find the talent you need in the existing workforce, consider looking outside the regular workforce. These candidates include underemployed, underskilled and underrepresented groups. These candidates can benefit from training and other programs designed to enable their transition into the workforce.

25 25 Working Together to Confront the Talent Crunch

26 Working together to confront the talent crunch: Employers Invest in training and development Redefine jobs and facilitate mobility within the organization Expand the recruiting pool Invest time in local schools and universities 26 Adjust immigration policies to enable the flow of in-demand talent Invest in employee education and training Foster partnerships among all the stakeholders Continuously train members to keep skills up to date Encourage job rotations and crosstraining Governments Labor Unions Confronting the Talent Crunch Academic Institutions Individuals Make a concerted effort to remain employable Understand your strengths Remain flexible Be alert to labor market trends and opportunities Be creative in transferring skills to new jobs and industries. Be more involved in the marketplace Participate in re-skilling partnerships Incorporate new curricula into standard course offerings

27 27 Talent strategy is more important than ever before. The talent mismatch cannot be fixed one position and one well-qualified candidate at a time. Employers must recalibrate their mindsets to consider candidates with a teachable fit. As the skills mismatch grows more severe, the teachable fit framework will become foundational to effective talent strategy. With a talent strategy that is more expansive, systematic and sustainable, an organization can ensure that it not only has the people to keep pace with its business strategy, but to accelerate it.

28 28 How can we help you? End-to-End Solutions for the Employment Lifecycle Comprehensive range of solutions Increase productivity through improved quality, efficiency and cost-reduction strategies at every stage of your business evolution Concentrate on your core business activities - leave the rest to us

29 29 The world of work experts Manpower provides research and reports for economists, journalists, university researchers and think tanks to help them assess and forecast the health and direction of the world s labor markets. Full articles can be found in Manpower s Research Center at Teachable Fit: A New Approach for Easing the Talent Mismatch The talent mismatch will only intensify as the economy recovers. Learn how organizations can recalibrate their talent strategies and find candidates with a teachable fit. Social Networks vs. Management? Harness the Power of Social Media This Fresh Perspectives paper explores how organizations should leverage the connective power of social networking to enhance productivity, innovation, collaboration, reputation and employee engagement. Manpower Employment Outlook Survey The most extensive, forward-looking hiring forecast; 36 countries and territories.