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In this volatile and unpredictable world is your organization ready for whatever comes next? HR has a big role in preparing their organizations for the future.
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“the defining spirit or mood of a particular period of history as shown by the ideas and beliefs of the time …”
Zeitgeist
2013 Opening Remarks
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A year ago we gathered here in Milwaukee … And the defining world events included …
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Today, as we reflect on the world we live in … What sticks with us … ?
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What’s happened … What’s happening … What’s going to happen? How will you meet these challenges?
Is your organization up to it?
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New Era of Increased Global Volatility
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And this was before the Fukushima
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Why Does Volatility Matter?
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Change in Operating Performance Following Supply Chain Glitch:
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Why Does Volatility Matter? Impact of Supply Chain Disruptions on Shareholder Value:
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• Environmental • Geopolitical • Economic • Technological
Global Disruptions – 4 Categories
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Global Economic Losses as a Percentage of Global GDP
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Global Economic Losses by Peril
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Commodity Price Index History
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Baltic Dry Index
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So our economy is recovering …
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Dow Tops 15,000!
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S&P Hits Above 1,600!
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Foreign Markets Reach All Time Highs
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… what’s happening to the jobs picture?
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3,844,000 job openings in March 2013
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While Unemployment Duration Remains a Challenge
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EU Unemployment Rates
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Education Matters …
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U.S. Unemployment Rate By Education Level (Age 25+)
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And Healthcare … ? … when will we sort it all out?
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In the US, it’s a Persistent Conundrum …
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Healthcare Spending Per Capita vs. Average Life Expectancy
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“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” - Charles Darwin
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• Organizational culture as “software.” • Create focus out of ambiguity. • Agility, flexibility are modern competencies. • To be able to mobilize quickly. • To compete and win in existing, new and often uncertain
markets with rapidly shifting conditions … in our countries of origin and globally.
• Talent Acquisition and Talent Management must live together. • Calls for flexible, scalable service delivery models.
HR’s Role to Prepare Our Organizations
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“Talent Economics” – sits at the intersection of Economics, the behavioral science dealing with how the forces to supply and demand allocate scarce resources, and Organization Development (OD), the HR practice area aimed at facilitating systemic change within organizations, and operates at the intersection of Macro Trends (which track the ebb and flow of talent within a market or industry system) and Micro Trends (which track how the economic contract between employee and employer is changing).
HR in an Age of Disruption
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Talent Economics – Gayan Nagpal
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The global marketplace needs to STOP viewing the COMPETITION FOR TALENT as a problem that needs a solution.
Talent Economics
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The employee is evolving, and the very CONCEPT OF EMPLOYMENT must evolve too.
Talent Economics
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We must attract, retain, develop and manage a more aware, ASSERTIVE and MOBILE workforce.
Talent Economics
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We must become forward-looking
TALENT ECONOMISTS.
Talent Economics
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• Shift focus from finding the best, to the right talent. • Build unconventional entry points for talent. • Poach your own talent before the opposition does. • Champion diversity of thought. • Think outside in – what’s the real EVP? • Let innovation thrive – right people, right
environment, right incentives. • Create cerebral engagement – Do you have the
environment for network contributors?
All That Matters is Talent - The 2020 Plan
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Talent Economics – Gayan Nagpal