YOUR TALENT STRATEGY STILL EFFECTIVE IN 2030?
by Korn Ferry in partnership with CEFIC
Géraldine van den Brande
Frederika Tielenius Kruythoff
Thursday, October 25th 2018
The Chemical sector in Europe
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3,2 million jobs
in more than
60,000
companies
Increased
sales
The largest
sector
amongst the
industrial
companies
2/3 of the entire
manufacturing
trade surplus
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The sector faces major challenges
Automation up to digitization
Increased market volatility
Dwindling resources
New entrants from emerging markets
50% of executives believe highly-skilled labour isavailable in Europe
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The sector faces a talent crunch of
highly skilled labor in Europe by 2030
There is not enough talent in Europe
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Change of
required
competencies
Poor reputation
of sector
Demographic
swift in Europe
Labor deficit as a % of workforce
Unrealized output due to labor shortage
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2020
3% 6% 11%
2025 2030
Unrealized output due to labor shortage
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The Netherlands France UK Germany
78billion $
17,5 billion $
9.8billion $3.6
billion $
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How do we secure highly-skilled talent?
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1. Define the competency profile
2. Attract the whole talent pool
3. Work on the sense of purpose
4. Integrate data analytics
5. Improve retention
How to secure highly-skilled talent?
Dual capabilities :
chemistry with digital
chemistry with MBA
bio-chemistry with physics
…
Talent Strategy
1. Define the competency profile
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42%
say their workforce lacks technical talent
Soft skills: top 5 competencies
Customer focus
Building effective teams
Result driven
Cultivating innovation
Communicating effectively
Talent Strategy
1. Define the competency profile
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36%
say their workforce lack leadership skills
How to develop the right skill-set ?
Indian profiles
2.4 million people in surplus in India by 2030
5 generations
From Baby boomers to Generation Z, all will be needed.
Women
No real increase of women in the chemical industry
Over 40% female CEO’s STEM educated
Talent Strategy
2. Attract the whole talent pool
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12%of female CEO’s knew
they wanted to be a CEO
How to integrate and attract the whole talent pool?
Attract the whole talent pool: Women
Korn Ferry 4 Dimensions (KF4D) – Women CEO’s Survey
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Drive for results Managing
complexity Inspirational Managing
diversity Team Building
5 years longer to become CEO vs male CEO
> 40% STEM
> humility < confidence > credibility > openness to
differences
PURPOSE Create Positive
culture Challenge Independent Work life balance
Korn Ferry Study 57 Female (former) CEO’s of Fortune 1000 companies. 6% of the Fortune 1000 company’s have female CEO’s
Experience
Drivers
Competencies
Traits
75% of our respondents note that the industry has a poor image amongst young employees
49% agree their company is well positioned as employer of choice
Talent Strategy
3. Work on the sense of purpose
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75%
How to become an employer of choice ?
49%
Talent Strategy
4. Integrate data analytics
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34%
How to design an efficient recruitment flow?
34% of interviewees believe they had an effective online strategy for recruiting
Talent Strategy
5. Improve retention
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75%
How to keep personnel eager to stay?
75% of respondents have intentions to stay over 5 years
1. How to develop the right skill-set?
2. How to attract and integrate the “whole talent pool”?
3. How to become an employer of choice?
4. How to design an efficient recruitment flow?
5. How to keep personnel eager to stay?
Discussion
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19© 2018 Korn Ferry. All rights reserved
Next steps
Chemical firms should review their talent strategies now!
Create / review your talent strategy
Create sense of urgency with your
stakeholders
Design a roadmap
Thank you
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Géraldine van den Brande
Chemical and Agri Sector leader EMEA,
Professional Search
Korn Ferry
Brussels, Belgium
Phone: +32 499 57 23 17
Email: [email protected]
Frederika Tielenius Kruythoff
Chemical and Agri Sector leader EMEA,
Executive Search
Korn Ferry
Amsterdam, The Netherlands
Phone: +31 6 42026244
Email: [email protected]
Thank you