SHRM 2014 The Future of HR: Whats Next for the Profession?
Phyllis Shurn-Hannah, SPHR SHRM Northeast Field Services
Director
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SHRM 2014 2 Howard Schultz on the Role of HR New York Times,
Oct. 11, 2010: "People ask me whats the most important function
when youre starting an organization or setting up the kind of
culture and values that are going to endure. The discipline I
believe so strongly in is HR
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SHRM 2014 3 Video: we know next
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SHRM 2014 4 Knowing whats next Because people drive change, no
one is a better expert on whats next than HR leaders
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SHRM 2014 5 Todays Agenda 1.Where we stand today, five years
after the recession 2. Key HR challenges at many organizations Low
Employee Engagement Stressed, Distrustful Workers Reduced Resources
for HR Initiatives Employer Brands in Need of Rebuilding 3.
Two-part strategy for turning challenges into opportunities Plan
for and Develop Your in-House Talent Build or Rebuild You Employer
brand 4. Best Practices Case study of Deloitte LLP
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SHRM 2014 6 Where We Stand Today US Hiring and the economy are
slowly picking up A solid 192,000 new jobs were created in March
while unemployment remained at 6.7% US GDP grew at 2.5% in 2013 and
experts expect slightly higher growth in 2014 HR professionals will
need to continue to focus on retaining talent in 2014, rather than
recruiting new talent from outside
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SHRM 2014 7 Outlook for HR Professionals Things are starting to
look better Job openings posted on SHRMs HR Jobs web site in 2013
increased by 45% compared to 2009 Also, the U.S. Bureau of Labor
Statistics projects an increase of 22% in HR employment by 2018
compared to a 10.7% increase for all occupations
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SHRM 2014 8 Challenge #1-- Employee Engagement Gallup 2013
State of US Workforce Study: Only 30% of US workforce is engaged
70% of employees are disengaged or actively disengaged 18% of these
are actively disengaged, acting out their unhappiness Gallup
calculates that low employee engagement costs US businesses $450
billion annually more than the GDPs of Israel, Portugal, and
Singapore
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SHRM 2014 9 Challenge #2 Stressed Employees 2013 American
Psychology Assn survey More than one-third of American workers
experience chronic work stress, with low salaries, lack of
opportunity for advancement and heavy workloads topping the list of
contributing factors Many employees feel stuck, with only 39%
citing sufficient opportunities for career advancement and just
over half saying they feel valued at work
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SHRM 2014 10 Challenge #3 Reduced HR Resources HR teams have
been hit as hard as other departments by budget cutting Leading a
rebound within the confines of smaller HR teams will require
greater creativity The bottom line for most HR professionals is Do
more with less
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SHRM 2014 11 Challenge #4 Employer Brands Many companies lost
their strong employer brands during the recession and have not
regained their former strength Rebuilding their employer brand will
be key to their business success and ability to convince high
performers to stay with their companies
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SHRM 2014 12 Turning Challenges into Opportunities Two-part
Strategy
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SHRM 2014 13 Strategy #1 Grow from Within Strategic Workforce
Planning SWP evaluates future talent needs through systematic
workforce assessment This ability to predict and fill future talent
needs is critical as companies move towards long-term
sustainability HR must make the ROI business case to top management
for strategic workforce planning
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SHRM 2014 14 Turnover Costs Really Cost! Replacing employees
from the outside is expensive Skilled employees are still at a
premium and will be the basis for competitive advantage as the
economy recovers Average cost to replace an employee is at least
150% of the employees base salary, according to the Bliss-Gately
Cost-to-Replace Tool
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SHRM 2014 15 Strategy #1 Grow from within If a company with
1,000 employees and an average base salary of $50,000 lays off 100
employees -- or 10% of its workforce -- it will spend $7.5 million
in addition to their salaries to replace them These costs include
severance payouts, lost productivity, recruitment and new hire
costs, and training Example 100 Employees $75,000 $7,500,000
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SHRM 2014 16 Strategy #1 Grow from Within Strategic Workforce
Planning: SHRM-AARP 2012 Poll Joint poll had responses from 430 US
HR professionals Aimed to gauge level of SWP with focus on
potential retirements by workers aged 50+ 72% of organizations said
the loss of boomers experience is a current or potential problem,
but only 29% had conducted a strategic workforce analysis of the
impact of their retiring workers
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SHRM 2014 17 Strategy #1 Grow from Within
www.aarp.org/workforceassessment AARP-SHRM free online Workforce
Assessment Tool www.shrm.org/aarp
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SHRM 2014 18 Strategy #1 Grow from Within Develop Your Talent
Developing talent begins by creating a culture that rewards people
emotionally and meets their professional expectations Most
employees give top priority to interesting and challenging work and
growth opportunities Career and leadership development programs can
provide enriching opportunities to improve skills and
knowledge
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SHRM 2014 19 Strategy #1 Grow from Within Workplace Flexibility
promotes success, productivity, and balance President Obama at
Fortune Magazines 2010 Most Powerful Women Summit: We must change
the structure of our workplaces they must be flexible enough to
give workers the ability to be productive.
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SHRM 2014 20 Strategy #1 Grow from Within SHRM Workplace
Flexibility in the 21 st Century Survey
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SHRM 2014 21 Strategy #1 Grow from Within SHRM / FWI
Partnership on Workplace Flexibility The SHRM-FWI partnership,
Moving Work Forward, aims to help businesses become more successful
by transforming the way they view and adopt workplace flexibility
By highlighting strategies that enable people to do their best
work, Moving Work Forward promotes flexible work arrangements that
fit the 21 st century workforce and create a new competitive
advantage for organizations.
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SHRM 2014 22 Strategy #2 Build Your Employer Brand It helps you
grow from within and recruit outside talent: Improves employee
retention rates Increases employee motivation/engagement Increases
manager satisfaction Increases unsolicited quality job candidates
Increases recruiting of younger generations and college students
Increases job acceptance rates Why? Goal: Create an image of your
organization as a Great Place to Work among your stakeholders and
the public
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SHRM 2014 23 Strategy #2 Build Your Employer Brand Your website
Print and TV ads Chat rooms/forums/blogs Social Media Employee
testimonials Communicate your company story and brand via: Visual
branding on billboards, etc Best Places to Work lists Industry
magazines Company buildings and Intranet Job podcasting
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SHRM 2014 24 Case Study: Deloitte LLP Womens Initiative Culture
of Flexibility Deloitte on Fortune 100 Best Companies to Work For
list 15 times 20 years ago, It began WIN, its initiative for the
advancement and retention of women The creation of WIN marked the
beginning of a culture of flexibility at Deloitte. View the Win
video at: www.deloitte.com
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SHRM 2014 25 Case Study: Deloitte LLP Talent Strategy Based on
Strong Corporate Culture
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SHRM 2014 26 Case Study: Deloitte LLP Brand Building through
Social and Online Media
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SHRM 2014 27 Summary -- Takeaways As the economy grows slowly,
HR leaders need to shift their focus to strategies for long-term
sustainability HR leaders face four key challenges going forward:
Low employee engagement Stressed and distrustful employees Reduced
budgets for HR initiatives Employer brands in need of rebuilding A
two-part strategy can turn these challenges into opportunities Plan
and grow in-house capabilities for future workforce needs Build or
rebuild your employer brand Emulate Deloitte and seek to make your
organization a Great Place to Work
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SHRM 2014 28 The Future: Personalized products, services for
any hand-held device Final Takeaway Innovation is Crucial The
Future: Personalized products, services for any hand-held
device
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SHRM 2014 29 Final Takeaway Innovation is Crucial Meet Anna and
the Workplace of 2020 29
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SHRM 2014 30 Going Forward Look to SHRM for Support
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SHRM 2014 31 We Need Your Passion and Innovation
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SHRM 2014 32 [email protected] (Please note that these slides
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