Technology & Talent: Towards A New Paradigm John Cooksey General Manager, HR & Employment Services OVERVIEW Impact of the Global Financial Crisis Changing Nature of Work Influence of Web 2.0 A New Paradigm A Vision for the Workforce Where to Next? Technology & Talent: Towards A New Paradigm IMPACT OF THE GLOBAL FINANCIAL CRISIS Voluntary turnover up to 50% above normal following the change 50% of companies that downsized then hired replacements Large movement toward use of part-time or contingent workforce Current economic situation to feature a jobless recovery Workforce Strategies In a Global Financial Crisis John Cooksey (GM HR Consulting) | Drake International Technology & Talent: Towards A New Paradigm IMPACT OF THE GLOBAL FINANCIAL CRISIS Technology & Talent: Towards A New Paradigm CHALLENGES FOR ORGANISATIONS To be more strategic and provide deeper insights Maximise workforce flexibility to minimise risk Maximise commitment/performance of workforce Resilience is a differentiator Required to be nimble and responsive in any economy How will individuals, leaders and organisations contribute? Technology & Talent: Towards A New Paradigm WORKFORCE STRATEGY – MORE QUESTIONS THAN ANSWERS 1. An asset to be developed or a cost to be minimised? 2. Is there a consistent way of categorising or segmenting your workforce? 3. Should you ‘make’ (i.e. develop people in-house) or ‘buy’ (outsource or acquire skills ready made from the market)? 4. Do you really know which are the critical roles in your organisation? 5. Does a ‘one size fit all’ approach apply to your people management, HR policies & practices? 6. Are valid and reliable people measures and reporting in place? 7. Are business and workforce strategies aligned? Technology & Talent: Towards A New Paradigm Technology & Talent: Towards A New Paradigm Changing Nature of Work Peter Drucker several decades ago was the first to identify productivity of knowledge workers as a significant management challenge Since that time jobs which require transactions such as exchanging information, products and services have come to dominate economic activity in developed countries In Thinking for a Living Tom Davenport states knowledge works “have high degrees of expertise, education, or experience and the primary purpose of their jobs involves the creation, distribution, or application of knowledge.” Consulting firm Mercer defines knowledge workers in terms of both the breadth of their knowledge and the degree of innovation required of them Technology & Talent: Towards A New Paradigm The Long Term Bureau of Labour Statistics (USA) projection to 2016, confirms a long term shift from goods-producing to service-producing employment Sectors predicted to grow include education and health services; professional and business services; leisure and hospitality; transportation and utilities; finance; government and information Almost three quarters of job growth will come from three occupations: • computer and mathematics occupations • healthcare practitioners and technical occupations • education, training and library occupations Technology & Talent: Towards A New Paradigm Where are the Biggest Gaps Currently? According to a 2009 skills gaps poll by American Society of Training & Development, organisations have experienced skills gaps in: • leadership and executive • professional or industry specific • managerial or supervisory • communications • technical, IT and systems • sales and stakeholder engagement • process and project management Technology & Talent: Towards A New Paradigm Influence of “Web 2.0” Longitudinal studies of job advertisements have found that traditional roles were becoming less frequent Most highly ranked characteristics were broader information management skills including: • understanding the interplay between information and business needs • user analysis for digital media • information design, including classification • applying legislation and governance requirements Three generations in the workforce born between 1946 and 1997, with a fourth to start their careers in a few years. The majority born after the launch of the internet in 1962 and strong exposure to computers and digital media. Technology & Talent: Towards A New Paradigm A NEW PARADIGM Information Architect Portal Manager Knowledge Manager Digital Marketing Business Analyst Client Services Manager Content Manager Technology & Talent: Towards A New Paradigm A VISION FOR THE WORKFORCE Can They Do The Job? Will They Do The Job? Will They Fit Your Team/Organisation? Technology & Talent: Towards A New Paradigm A Vision for the Workforce Short term fixes are not enough to drive growth and innovation Critical challenge is to address skills gaps in ways that improve organisational effectiveness and contribute to long term success Ensuring a highly skilled workforce takes a commitment from many players: • leaders in the public and private sectors • education community • workforce learning and development professionals Additional skills needed for sustained high performance in knowledge economy: • Adaptability • Innovative thinking and action • Personal responsibility for learning Technology & Talent: Towards A New Paradigm Where to next for organisations and HR…. • Ensure organisational alignment & effectiveness • Enhance employee engagement • Upgrade staff skills • Build the employer brand towards employer of choice • Establish appropriate workforce plans to cope with potential skills shortages Technology & Talent: Towards A New Paradigm