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A perfect storm is coming meanwhile lot of energy is approaching. What are the major shifts? How to best prepare for it? We need to first understand the major shifts. With many statistics this presentation gives a huge picture of what is coming...and what can we do to activate the inherent potential of the hidden resources.
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Talent Management in the New Economy Page 1
Talent Management in the New Economy
Volterra - September 2013
Talent Management in the New Economy Page 2
Whyus?EricVanHoof,apragma6cwhohappenssome6mestobecrea6veMicheldeKemmeter,crea6vewhohappenssome6mestobepragma6cBothwatchingcarefullywhat'sgoingonintheirenvironmentandbelievingin:Allying materialandimmaterialvalueAllying humanityandbusinessAllying localandglobalissuesAllyingmicro(person),meso(company)andmacro(society)
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Key statement slide
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OurworldisshiGingquicklyanddras6cally…SociologicalResourcesFinancialEconomicalClimateCompetencesConnectednessPsychologicalDemography
Whataboutyou?
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Let’sZoomin&Zoomout
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Tectonicmouvements…
MobilityIT&communica6onAgriculture&nutri6onHabitatHealthEduca6on&trainingEntrepreneurshipGovern&manageEnvironmentInves6ngFinances&Banking
Tectonicmouvements…
Weworkonthefuturebusiness&economymodelsandshiGs,withnewwaystodetectvalueandpoten6al
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Marketsbelievevalueisimmaterial,humancapital:
Knowledge Knowledge liability
Emo1onal capital
Earth destruc1on
Emo1onal liability
Debts Tangible values
Destruc1ve role
Earth value
Contribu1on
Bad/no communica1on
Unefficient unsustainable process Efficient sustainable process
Good communica1on
Immaterial
Material
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« The biggest shi+s, empires and fortunes have been ini7ated right in the middle of historical crisises » Paul‐LoupSulitzer–sold60millionbooks
WhataboutSavingsBanksintheNextEconomy?
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Pleasetakesomenotes…ItsourrawmaterialfortheupcomingworkshopGloballiabili6es….Vs.Localassetsofyourcompanies…
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Sociological:peoplemove…AfricaEuropeSouthEuropeLa6nAmericaEastEuropeWestEuropeWestEuropeMiddle&FarEastLa6nAmericaNorthAmericaChinaAfrica???Erasmus:250,000studentsin33countriesLowcostairlinesareover52%ofairtraffic
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Resources:peakoil,peakMendeliev
‐11before2030Oil,gas,iron,gold,silver,uranium,…
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Economical:toppinggrowthmodels–thelimitshavebeenreached
Growth<2,25%Toppingemergingmarkets,westerncountriesinrecession Our economical model has no future whatsoever Jean‐Pierre de Jamblinne The euro is heading a major cataclysm Chris7an Ghymers We are on a 30 years perspec7ve of recession and hyper‐infla7on Bruno Colmant
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Financialvola6lity,vulnerabilityofdebt‐basedcapitalis6ceconomicmodel
Usapublicdebtover17,000billion$Europeantotaldebt:11,500billion€TotalUSdebt=233,000billion$,or376%ofGDPWarbetweencurrencies...
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Climate:balanceisalreadyoutofhand
Over30%ofspeciesex6nctbefore2030Rizeofsealevels&waterstress:directimpactonoverabillionpeoplebefore2020
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Competences:newtalentsneededforanewworld
Ourchildrenwillhavetodealwithtechnologythatdoesn’texistyet
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Connectedness:everybodyandeverythingislinkedwithinthe«globalizedsystem»
634millionwebsites–(December2012)2.2billion–Numberofemailusersworldwide144billion–TotalemailtrafficperdayworldwideHowvulnerableisallthis?
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Psychological:fear,stress,insecurity,risk,uncertainty,ambiguity,incoherence⇒ psychopathologicaldisorders(+/‐26to32%):stress,burn‐out,depression,anxiety(=longtermabsenteism,socialsecuritycost)⇒ Over75%oftheworkingpeopledonotliketheirjob,and/orarebored
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Demography
Ageingpopula6on:
• 2050:>65years=36%• 2030:+15%ofbelgianfederalbudget• Implicitpublicdebt=426%ofGDP
+/‐25%oftodayseducatedyouthwillnotfindajobCostcutngisradicallychangingtheorganisa6onontheworkfloor:
• Openplans• Workplaceofthefuture
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Demography:4genera6onsontheworkfloor
Forthefirst6meever,
4genera6onsaresharingthesameworkfloor
Interes6ngfactisthatintermsofsuccessioninten6onsinFamilyBusinessesveryfewNextgenmemberswanttotakeover
Babyboomers
GenX
GenY
GenZ
Generation Born in Baby boom 1945-1964 Generation X 1965-1980 Generation Y 1981-1994 Generation Z (Millenium) 1995 - …
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Generation gaps Generation Main Characteristics Consequence
Baby boomers Work-Centric Independent Goal-Oriented Competitive
This workaholic generation believes that Generation X and Generation Y should pay their dues and conform to a culture of overwork. Baby Boomers criticize younger generations for a lack of work ethic and commitment to the workplace.
Generation X Individualistic Technologically Adept Flexible Value Work/Life Balance
Many Gen Xers saw their workaholic parents lose hard-earned positions. Generation X is less committed to one employer and more willing to change jobs to get ahead than previous generations. Unlike previous generations, members of Generation X work to live rather than live to work.
Generation Y Tech-Savvy Family-Centric Achievement-Oriented Team-Oriented Attention-Craving
Generation Y have a different vision of workplace expectations and prioritize family over work.
Generation Z (Millenians) Meaningful Work Opportunities to Collaborate Freedom of Choice Hyper connected No hierarchical
Need for faster decision making process Less hierarchical relationship More flexibility (hours, place of work, ...)
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Talent Management… Is it a “nice to have”? ► Talent Management is a TOP 3 risk* identified by CEO’s
1. Regulation and compliance (2010:1) 2. Cost cutting (6) 3. Managing talent (4) 4. Pricing pressure (15) 5. Emerging technologies (13) 6. Market risks (New) 7. Expansions of government’s role (New) 8. Slow recovery or double-dip recession (3) 9. Social acceptance risk/corporate social responsibility(CSR) (9) 10. Access to credit (2)
*E&Y 2011 Turn Risk and opportunities into results
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Talent Management… Definitely a “need to have”!
Alignment and integration drives return on investment
* E&Y 2010 Global Talent Management Survey
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Major challenges
Keep abreast of new business models & changes Systemic growth, collaborative economy Expertise and importance of immaterial and human value Stakeholders models
Recruit, Integrate and keep the best resources
Rethink working methods/ conditions, and remuneration packages Globalisation: diversity as an asset (a diverse company is more
adaptable to environment & events)
Be creative & innovate in talent management models => Maximize “trust” capital, essential on long term
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Align Vision, Values and Strategies with TM Two- way communication : learn to listen Work-life balance expectations Individual career expectations Self-awareness : personal development & coaching Better adaptation to others, leverage diversity Integrate all this into coherent strategy for success Balance between warm decisions (emotion/history) and cold decision (facts/figures/market reality)
Solutions :
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Talent Management… has to be fully integrated into company’s strategy/ADN
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WorkshopQ1:Whatdoyoudointernallyalreadytoanswerthe«new»needsofemployees?(strategy,dailymanagement)Whatcouldyoudomore,howtoayractthebestresources?Q2:Whatdoyoudoalreadytoanswerthenewneedsofclients?Whatcouldyoudomore?Q3 : Which are the assets and par7cular poten7als of caisses d'épargne (on 7 levels), allowing you to surf on these emerging tendancies ? Q4:Whicharethestakeholdersinyourecosystemsthatcouldbeworthwiletoconsolidaterela6onshipswith?Q5:Howtofacilitatefinancingoflocalbusinessesinanewandsustainableway?
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Thanks for your participation... And good luck ! michel@uhdr.net +32 475 266 555 Eric.van.hoof@be.ey.com +32 474 980 472
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