The world of work is changing …

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The world of work is changing…

We can help.{We’ve been experts for 6 decades}

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Winning in the changing world of work requires A New Way of thinking about and approachingyour workforce.

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Drivers of Change in Today’s Uncertain World

The Talent Mismatch is deepening as the working age population declines and the nature of work changes.

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Individual Choice will be exercised by those with the skills that are most in demand.

Technological Revolutions have the power tochange where, when and how we work.

Rising Customers Sophistication requires businesses to work in a new way, driven by innovation and delivering greater value and efficiency

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A Less-Fluid Workforce

Manufacturing Heyday Dominant management model, circa 1959

• Many jobs require similar skills• Workforce skills are well matched to the

workplace• Workforce mobility is increasing• Competition for jobs is high as

population booms

Knowledge-Based Jobs Growing workplace reality, circa 2009

• Many jobs require specialized skills• Many people who want jobs lack

the appropriate qualifications• Many people with appropriate qualifications

are in the wrong geographic location• Despite high levels of unemployment

broadly, competition for qualified people grows

• The economy has changed faster than the workforce can or has adapted

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World of Work Trends: Talent Mismatch

66World of Work Trends: Talent Mismatch

Talent MismatchThe skills mismatch will intensify as pressure to find the right skills in the right place at the right time will increase as working age populations decline, economies rebound, emerging markets rise, and the nature of work shifts.

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The Talent Mismatch

Lack of resources creates tension on the high-skills market

Oversupply of low or wrongly skilled resources generates under- employment and unemployment

Demand for skill

Supply of skill

Source: Confronting the Talent Crunch: 2007, A Manpower White Paper


Talent Mismatch: Top 10 Global Hardest Jobs to Fill

1. Skilled Manual Trades2. Sales Representatives3. Engineers4. Drivers5. Accounting and Finance Staff6. IT Staff7. Management/Executives8. Teachers9. Administrative Staff10. Machinists

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Source: Manpower Inc. Talent Crunch White Paper www.manpower.com/researchcenter

30% of employers worldwide indicated difficulty filling positions

http://www.manpower.com/researchcenter

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On-Going Paradox: Open Jobs . . . and Unemployment

Source: Business Week, based on data from the Bureau of Labor Statistics as of 09-09

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Global Working Age Population Data

• Number of People 65+ years:

– Year 2000 – 35 Million

– Year 2010 – 40.2 Million



– Year 2040 – 80 Million


10World of Work Trends: The Talent Mismatch

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Broadening the Search for Talent

Engage an aging workforce– Only 14 % of employers

have specific strategies in place to recruit older workers

– Only 21% of employers have strategies in place to retain their older workers

Invest in young workers – Customized work experiences that leverage the

unique attributes of Generation Y will increase their contribution and engagement


Sources: Manpower White Paper

Prevalence of Disability by Age Range

• 15-24 Years – 10.5% have a disability• 25-44 Years – 11.1% have a disability• 45-54 Years – 19.4% have a disability• 65-69 Years – 38.4% have a disability• 70-74 Years – 46.9% have a disability• 75-79 Years – 53.9% have a disability


Demographics

• 51.2 million (18.1% of the US population) have a disability

• The next largest minority is the Hispanic population (13.3% of the US population)


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Pave the way for women– In 2008, the International Labor Organization

found that the global employment-to-population ratio was 49.1% for women in 2007 compared to 74.3% for men.

– Around the globe, more women than men are graduating from college

Consider talent migration – There are over 200 million immigrants in the

world today– about 3% of the global population– Emigration rates tend to be highest in the most

educated segments of the population– Move Work to People Virtually and People to

Work Geographically


Source: Education at a Glance: 2007, OECD 2007.

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Make versus buy– Hire at skill levels below the anticipated need– Invest in development and retention

Do more with less– Increase productivity through higher levels of

employee engagement– Create a compelling employee experience

Share scarce skills– Contract with key individuals on an as-needed

basis


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Implications

Talent Mismatch

Organizations need an agile talent strategy to attract, engageand retain the talent required to execute their business strategy

Critical shortages will intensify in key skill sets

Demographic shifts will increase the pressure to use the talents of all individuals

Divide between the skilled and unskilled workforce is accelerating

Continuous training and development of the workforce will be required in order to maintain a job-ready workforce


Many options will exist for building the workforce

1717World of Work Trends: Individual Choice

People with skills that are most in demand will exercise choice in selecting work arrangements that best suit their values and preferred “one- size-fits-one “ work experiences.

Organizations will be challenged to customize flexible work practices that attract, motivate and engage multiple generations in the workforce.

Individual Choice

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Drivers of Demand for Choice

Leverage in critical skill sets– Individuals with key skills will be increasingly able to

dictate terms

World of Work Trends: Individual Choice

Changes in expectations– In many societies, social norms have

been changed to encourage individuals to choose careers that work for them

Technology-enabled work options– New technologies are making it easy to

accomplish the same workload from anywhere and at any time

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Boomer

Born 1946-1964

Each generation has different assumptions about how the world works and is currently in a different life stage that will affect what they demand from work.

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A Look at Four Generations

65-82 46-64 30-45 15-29


Traditionalist

Born 1928-1945

Generation X

Born 1965-1979

Generation Y

Born 1980- ~1995

2020

64% believe these policies

increase retention rates.

Why Flexibility Matters?


76% of organizations say flexible workarrangements boost employee morale and

Source: Manpower, “Talent Crunch: 2008”, United States Department of Labor, HR Management, Institute for Corporate Productivity,

Today’s student will have 10–14jobs by the age of 38.

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What Kind of Flexibility?


Flexibility in career choices– Skilled workers will define accomplishment

beyond the traditional measures of career success, and they will expect their employer to accommodate and encourage life priorities outside of work

Flexibility in how work is compensated– Skilled workers will demand a holistic approach

to compensation, with valued compensation ranging from more money, to more time off, to more time to innovate and create at work

Flexibility in how and where work gets done

– Skilled workers will desire the ability to perform their jobs where, when, and how they want

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Collaborative, flexible, and innovative work culture– Leveraging new technologies

– Team-based and outcome-oriented processes

Meeting the Demands of Skilled Workers


Engagement– Know your employees and the reason for their commitment

– Understand their life priorities and challenges

– Create work practices that meet them where they are in life

Compelling leadership and strategy – Clearly defined and communicated

– Aligned around your company’s mission and impact

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Implications

The Individual Choice


Skilled individuals have a wide variety of work preferences, needs and expectations

Companies need work practices and employee experiences that will attract and engage talent who will like working in your organization

Individuals will take greater “ownership” of their careers and development

2424World of Work Trends: Technological Revolutions

Technological developments allow new ways of getting work done – increasing the importance of coordination and collaboration.

Rapid and unfiltered communication via online communities increases the importance of reputation management for all stakeholders.

Technological Revolutions

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Rapid Growth in Social Technologies

World of Work Trends: Technological Revolutions

Linkedin founded in2002 Flickr

founded in

2004

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Connecting is Easier Than Ever

There are over 100,000 web sites that invite individuals to post their opinions about companies


More than 50% of the world’spopulation uses a mobile phone

The number of people in theworld with access to the Internetis up over 300% since 2000

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Business is Just Beginning to Harness the Power of Web 2.0

However, to effectively manage and engage today’s

skilled workforce, Web 2.0 must be utilized to foster

collaboration and creativity


Despite their growing use and social importance,

Web 2.0 technologies are often viewed as a distraction

rather than a productivity tool

Even for those companies that have recognized

the potential of 2.0 technologies, implementation

and adoption have proven difficult

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World of Work Technology Revolution

Collaborate to Innovate– Innovation and creativity

can come from anywhere


The Transparent Brand– Managing your reputation

in the age of social networks

New Employee Practices– Attract, select, train, and “retain”

in a whole new way

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Implications

Technological Revolution


Technology is changing how we communicate, collaborate and innovate

Rapid, transparent links among individuals increase productivity and scrutiny of both individuals and corporations

For some, technology is changing the definition of work from a “place to go” to an “activity” we do anytime, anywhere, anyplace

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Rise of CustomerSophistication

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Customers’ expectations around value will rise. Customers are more global and sophisticated, increasing the complexity of their relationships with organizations and the specificity of their value demands.

Customers have increased access to information, to networks of experts, to lower cost channels which increases pressure on companies to deliver value – faster.

World of Work Trends: Rise of Customer Sophistication

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Customer Generated Content

World of Work Trends: Rise of Customer Sophistication

Apple, iPhone Amazon.com

3232World of Work Trends: Customer Sophistication

Changing Challenge: From Scale to Intelligence

• Industry leaders developed, improved and distributed products in scope and scale never imagined

• Work is divided across hierarchical boundaries and managed through bureaucratic systems

• Job descriptions are clear and consistent and reward tied to loyalty – “gold watch”

• Careers are managed by employers

• Industry leaders are transforming products to customized services and innovating faster than ever imagined

• Teams are formed and mobilized around knowledge and purpose rather than boundaries

• Career management is outsourced to its owner

Twentieth Century Twenty-First Century

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It’s a Mindset Change

World of Work Trends: Customer Sophistication

• Bureaucratic

• Rigid

• Product

• Managed

• Replicate

• Collaborative

• Flexible

• Knowledge

• Transparent

• Innovate

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It Requires a Behavioral Shift

World of Work Trends: Customer Sophistication

• Mobilizing work

• Directing workers

• One size fits all

• Manage people

• Task alignment

• Tightly defined jobs

• Inside – out

• Mobilizing knowledge

• Engaging colleagues

• One size fits one

• Manage outcomes

• Conceptual alignment

• Flexible purposeful teams

• Outside – in

3535World of Work Trends: Rise of Customer Sophistication

Implications

Rise of Customer Sophistication

The ability to mobilize intelligence, manage in a complex environment, and continuously improve core businesses will be key to capitalizing on trends

Companies’ practices are under increased scrutiny; therefore,they must stand up to total transparency

Intensified price / value compression puts increased pressureon the productivity of a company’s workforce

Responses and solutions to the market will need to be:• Faster• More agile• Differentiated• Global

Companies’ success is no longer only based on access to capital – now, talent has become a key differentiator

3636World of Work Trends: The Big Picture

The world of work is changing faster than ever.

Companies need a deliberate workforce

strategy.

The Big Picture

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• Which of these trends is having the most impact on your organization currently?

• What are your key workforce challenges?• How do these trends challenge legacy mindsets in your

organization?• How does your current talent strategy reflect the

changing world of work?• What do you need to do to ensure leadership is aligned

around the key workforce challenges required to drive the desired business results?

• What do you need to successfully drive a talent strategy that sustains the business now and in 5 years?

Discussion Topics:

World of Work Trends

The world of work is changing …

Documents

changing world of work

nature of work changes

nature of work shifts

open jobs

right skills

talent crunch white

global hardest jobs

right place