Reskilling Your Workforce to Execute Future Strategy. Feb 2, 2016

Transcription

1 Reskilling Your Workforce to Execute Future Strategy Feb 2, 2016

2 Labor market trend to watch: Talent shortage is here The Conference Board, Inc.

3 The growth rate of the US population aged 18 to 64 is rapidly decelerating and will remain very low through 2030 Source: The Census Bureau The Conference Board, Inc.

4 Late 1990s: strong growth but a decline in corporate profits because of a tight labor market Phase 1 Note: Shaded areas represent recessions. Source: Bureau of Economic Analysis The Conference Board, Inc.

5 Attracting Talent: More competitive in increasing tight labor market US companies increased their talent acquisition spending by 7% on average in 2014 Baby boomers exiting workplace Falling fertility rates Unprepared incoming graduates Machines entering the workplace The Conference Board, Inc.

6 Future-Skilling Your Workforce: Leveraging People Strategies for Developing Future Capabilities Attracting and Developing your Leaders: Critical driver of business productivity The Conference Board, Inc.

7 The New World of Work: 40% of leaders are not prepared to manage current and future challenges Strategy of Trajectory Speed & Innovation Diversity AND Inclusion Uber- Connected PULL Model Commoditization of work The Conference Board, Inc.

8 Skills Needed to Thrive in the 21 st Century: Are your leaders ready? The Conference Board, Inc.

9 How can organizations ensure they have the capabilities to execute current and future strategies? The Conference Board, Inc.

10 The People Ecosystem: Interconnected, agile, holistic, align to business strategy An Ecosystem Fosters greater inclusion, interconnectedness Develops organizational capabilities to anticipate and respond to disruptive changes with maximum agility Impactful and Sustainable Future-skilling requires holistic alignment of talent systems People Ecosystem focuses on: Aligning talent and business strategies Increasing organization s capacity to execute talent strategies finding, developing and retaining talent The Conference Board, Inc.

11 Attracting Talent: Refresh and target your methods of finding talent Predictive analytics and assessment tools Recruitment process outsourcing (RPO) Reinvented employer brand Job simulations Beyond the Traditional 3Bs-and-R (buy-buildborrow-redeploy) Social media recruiting Elevated candidate experience Employer outreach programs to schools and colleges The Conference Board, Inc.

12 Developing Talent: Engaged employees are more likely to stay with the organization longer Reward and retain Embedding reward systems to drive performance, engagement, ownership, and retention Enculturation Clarifying the norms and culture of the organization Priority learning continuous learning, social learning Making learning a priority using myriad innovative learner-centric approaches to close skill gaps and/or facilitate continuous learning Curation of the employee lifecycle experience Supporting the range of employee experiences from pre-hire/rehire to retirement Succession planning Preparing and empowering key talent to lead the organization in the future Career development Ladders and Lattices Helping employees manage their work, learning, and transitions toward personally determined and evolving preferred futures The Conference Board, Inc.

13 Future Skilling Talent: Different types of learners have different learning styles and needs The Ageless Learner The Digital Learner The Returning Learner The Global Learner The Flexible Learner The Conference Board, Inc.

14 Retaining talent: Efforts need to be frequent, targeted, and more in-the-moment. Succession Planning & Leadership development Rewards to Retain Predictive Analytics global and workplace changes The Conference Board, Inc.

15 Thank you for your time! The Conference Board, Inc.