The Workforce Management Ecosystem FOR MUCH OF THE 20TH CENTURY, COMPANIES USED EMPLOYEES AS A BUFFER AGAINST ECONOMIC CHANGES. LAYING PEOPLE OFF WHEN DEMAND DECLINED AND REHIRING THEM WHEN TIMES IMPROVED. TODAY, WITH INCREASED EMPLOYER ADMINISTRATIVE REQUIREMENTS AND INCREASED ECONOMIC BURDENS FOR INDIVIDUALS A NEW STRATEGY WAS BORN….
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
The Workforce Management Ecosystem FOR MUCH OF THE 20TH CENTURY, COMPANIES USED EMPLOYEES AS A BUFFER AGAINST
ECONOMIC CHANGES. LAYING PEOPLE OFF WHEN DEMAND DECLINED AND REHIRING THEM WHEN
TIMES IMPROVED. TODAY, WITH INCREASED EMPLOYER ADMINISTRATIVE REQUIREMENTS AND
INCREASED ECONOMIC BURDENS FOR INDIVIDUALS A NEW STRATEGY WAS BORN….
Janet Kornas
Scott, this is a lot of copy for a slide - I would suggest trimming this down to one key sentence, so we can make the text larger and easier to read.
Today, employment life cycles are shorter, financial markets are more volatile, and workers’ jobs – along with their skills – become obsolete more quickly,
thanks to the new requirements placed on Employers.
Predictably, employees are less loyal in this new era, which means that those with the right combinations of skills disappear even faster. Restaurants and Hotels spend large sums to replace
those people, if they can replace them at all….
Janet Kornas
Scott: Can this part be told using bullet points. Visually it will be easier to digest on a PPT slide.
In 1979, workers in the Restaurant and Hotel industry received 2.5 weeks of training per year; in 2015, nearly 80% had received little to no training on non-core areas such as
customer service and safety.
Treat Workforce Planning Like an Investment PortfolioYet most Restaurants and Hotels often leave workforce decisions largely to chance. Companies need to start looking at the workforce like any other important investment portfolio, with an increased emphasis on shifting increased employer administrative responsibilities
that are hard to track, report, and manage and focus on their time on increasing operational efficiencies. Unless companies pay attention to keeping a lid on their workforce cost and compliance exposure and build their organizational capability, they won’t be
able to deliver the results they expect in the future.
Janet Kornas
Scott: Can these sentences be shortened? Or bulleted? Will look better visually.
Keep in Touch But employers must also engage with a talent ecosystem that includes current and former employees and contingent workers such as temporary workers.
Why?
Because in order to keep a reign on labor cost compliance exposure, your company must have access to available labor. Also, employees are pursuing more work opportunities with flexibility to keep up with their own economic demands.
Old HR Models Are Dead Yet HR management practices at most Restaurants and Hotels aren’t designed to engage with a flexible workforce of employees and contingent workers. They’re stuck in the last century: too rigid and incompatible with business demands to hire more quickly and develop workers with the skills to match their core business in the shortest time.
Few companies align their recruiting, hiring, and workforce management compliance with their long-term business strategy, as they do their financial portfolios with their needs for cash and capital. Rather than plan for their short-, medium-, and, long-term talent needs, they end up scrambling to find vital talent that has the skills they are looking for and then managing all of the requirements that go along with having that talent.
Janet Kornas
Scott: Same thing.. the copy on this page is very dense. Would suggest rewokring into bullet points only with larger subheads. Very hard to see from a distance.
Focus on Early Development
Every company says its workers are its most important asset.
But it’s not until business leaders start viewing payroll as an
investment that they can take the next crucial step: Employer
related cost continues to rise at an alarming rate. With more
requirements placed on a company and a shrinking labor pool, a
Restaurant or Hotel is replacing the time they normally have
used to attract, develop and maintain good employees to trying to
keep up with the cost and compliance of new requirements such
as ACA, mandatory PTO and higher minimum wage laws.
Why Millennials Will Change HR Management
Giving millennials what they want is better for companies.
Mobile technology, social tools, and the emergence of online
courses make it more cost effective to engage a contingent
labor pool that is not only available but trained to work in a
restaurant or hotel they have qualified to work in. It is also a
great way for companies to disengage the enormous
administrative challenge of recruiting, compliance, and
development.
.
Janet Kornas
Scott: Can any of this paragraph copy on this page be bulleted?
> Increase Employee Productivity – Leading to Increased Profitability > Focus on Core Competencies > Reduce Administrative Burdens > Help Mitigate Risk/Liability and Protect Assets > Become an Employer of Choice
·Access Contingent Workforce on their Mobile Apps
·Employee Practices Liability Insurance ·Legal Defense Benefit ·Employee-related Investigations and Human Resource Guidance
·ACA Compliance and Reporting ·Qualified Plans to fit your budget ·Online benefits Enrollment ·Section 125 & Flex Plans ·Employee Assistance Program ·Voluntary Benefits ·Employee “perks” ·401(k) Plans ·COBRA administration
·Employee Service Center ·Dedicated HR Representative ·HR Administration ·Employee Leave Administration ·Online Self-Service and New Hire Processing ·Total Compensation Statement
Ecosystem – Focus on Growth / Clients
CRA FLIA
ICPCA PAWA
AFA
LM FLF S
RS FICA I
FOREWARN
2009
Why It Matters Health Reform
HIRE HIRE
> The compliance burden on employers has increased sharply since 2008, with significant additional legislation forecast for 2016 and beyond.
> Compliance is costly, complex and time-consuming.
> Violations can overwhelm – even destroy – a business.