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What Will a Future Workforce Look Like?

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#HRU Future of Talent: Insights White Paper

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Publicada em: Recrutamento e RH
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What Will a Future Workforce Look Like?

  1. 1. Future of Talent: Trends 1 Sponsored by #HRU Future of Talent: Insights White Paper August 2015 What Will a Future Workforce Look Like?
  2. 2. Sponsored by 1. Introduction 2. Technological Factors: 2.1. The fast pace of technological innovation 2.2. Automation is everywhere: does that threaten humanity itself 2.3. Everything is connected, virtual, intelligent and in the cloud 3. Demographic Factors: Changing dynamics of global population growth 4. Impact on HR / Recruitment 4.1. Future of Recruiting tools and technology 4.2. The Currency of 5. The future of work? How to navigate the future of work / life balance v work - life integration 6. Key Takeaways Contents: Future of Talent: Trends 2
  3. 3. Future of Talent: Trends 23 What Will a Future Workforce Look Like? A period of prosperity and promise, one where, for the time in history, the world and vast amounts of human knowledge was suddenly accessible in the palm of our hands. Technology has been gradually changing the way we live for nearly two decades, with innovation having as much impact in on our careers as personal lives. What does the continual pace of innovation mean for the future workforce? What impact will that have on our careers in the years and decades to come? In London, on 9 March 2015, a group of progressive-minded HR and recruitment industry experts and professionals met to discuss the future of the workforce at the #HRU Future of Talent Workshop. This white paper summarizes some of the key insights and concerns raised, and what that means for recruiters and HR professional around the world, now and in the future. Introduction about an unprecedented period of innovation. A digital revolution, one which changed billions of lives. Want to discover more about the Future of Work? Share ideas and learn from some of the world's leading experts in HR and recruitment. Attend an Unconference near you: www.globalhru.com REGISTER NOW Sponsored by
  4. 4. 2. Technological Factors Despite the seemingly ubiquitous nature of Facebook, Twitter, Google and YouTube, Snapchat and WhatsApp, digital adoption is far from universal. Even in developed countries, there is still tens of millions of consumers and businesses with limited or no access to digital services. Achieving a near universal level of digital inclusion is still a challenge for governments, with from the UK estimating that 21% of the population lack basic digital skills. Research by Lloyds Bank, a large UK high street bank, has found that 23% of SME’s and 58% of charities are in a similar position. With internet.org, led by Facebook CEO Mark Zuckerberg, as well as other government and NGO-supported projects around the world, the aim is to connect the other two out of three people worldwide without Internet access. Depending on economic development and the pace of innovation, this dream could be achieved within a century. What does this mean for a future workforce? Digital connectivity will be ubiquitous, regardless of a countries level of economic development, which will widen the talent pool for outsourced operations. 2.1.The fast pace of technological innovation What could happen if Ar Intelligence (AI) started to think for itself? What would happen if our creations turned on the human race? Frankensteins monster with a big data brain and the strength of Wolverine. With popular movies such as Ex Machina, I, Robot, RoboCop, Bicentennial Man and dozens of others painting various outcomes for a world where human and AI attempt to co-exist. Sometimes successfully, other times, not so much. Some of the minds of our generation, including Bill Gates, Steve Wozniak, Elon Musk and Stephen Hawking have all warned of the dangers. Stanford University has conducted a 100 year study, concluding that “we could one day lose control of AI systems via the rise of superintelligences that do not act in accordance with human wishes – and that such powerful systems would threaten humanity.” What does this mean for a future workforce? With AI and big data playing more of a role in production and services, the “human element” will shift to the higher end of the value chain, especially for knowledge economy workers. 2.2.Automation is everywhere: does that threaten humanity itself? Sponsored by Future of Talent: Trends 4
  5. 5. 2.Technological Factors Continued Relatively speaking, this is still early days for a hyperconnected, fully digital world. It could easily take a century to achieve universal digital adoption, providing a hostile race of Intelligences don’t destroy humanity in the meantime. At this point, we seem to have more questions than answers. But these are questions worth asking: • Should we expect a backlash against too much connectivity? • Could greater transparency reduce crime? • Is there a risk we could automate too much of our lives and work? What does this mean for a future workforce? Whether to hire someone used to be based on gut decisions, how well a recruiter / HR professional got along with a candidate. The problem with this approach is it means basing one of the most important - and for most businesses - most expensive decisions on a feeling. One human to another. These days, this is how • Pre-employment assessments help companies understand candidates actual competencies: what they can do, rather than what they claim they can do. • With social media sentiment analysis,you can track when potential candidates (both active and the passively active) are looking for new jobs, then send them targeted social media campaigns. • Employers can from performance tracking software, which allows them to gain an understanding of an employee’s success rate in their last role, where applicable. However, data can go too far. One company in California is being sued by a former employer after they her for disabling an app on her phone that was tracking her every move outside hours. The law has to draw lines in the sand when employers and technology invade personal privacy, but there’s still more data employers would gain value from when it comes to new hires and staff performance. 2.3. Everything is connected, virtual, intelligent and in the cloud Want to discover more about the Future of Work? Share ideas and learn from some of the world's leading experts in HR and recruitment. Attend an Unconference near you: www.globalhru.com REGISTER NOW Sponsored by Future of Talent: Trends 5
  6. 6. Future of Talent: Trends 6 3. Demographic Factors There was a consensus that the world’s population would hit 9 billion in 20 years, then start to decline. Research published in 2014, led by Professor Adrian Raftery at the University of Washington, has overturned that consensus. Academics, governments and the UN are now 80% certain that as of 2100 the global population will be between 9.6 and 12.3 billion people. The chance of an expected population peak, followed by a decline is almost non-existent, with a 70% chance of continued rising after 2100. What does this mean for a future workforce? Ageing populations in Western Europe, North America, Australasia and Japan could result in a global population shift, necessary to support continued innovation in the more mature developed economies. How companies and governments share resources and deal with immigration will become a key issue for inter- regional relations, which in turn could impact the workforce of the future. Changing dynamics of global population growth Academics, governments and the UN are now 80% certain that as of 2100 the global population will be between 9.6 and 12.3 billion people Sponsored by
  7. 7. 4. Impact on HR / Recruitment Resumes and human intuition - that gut feeling when you meet someone (which according to science happens in the blink of an eye, literally) are being phased out in favour of data- backed recruitment solutions. HR and recruitment will become a value- added skill, much like accounting. According to Software Advice research, as of 2022 there will be a 22% and 8% growth in HR Manager roles HR specialist roles, respectively. Software isn’t eating recruitment: software is making recruitment professionals more valuable at all levels of the corporate world. According to the report: • HR job titles are a more business- focused HR department. • Professional in Human Resources (PHR) and Senior Professional in Human Resources (SPHR) are the most desired • Annual compensation for HR jobs is $60,000— well above the national average in the US. What does this mean for a future workforce? Along with other knowledge economy roles, HR and recruitment professionals will spend more time on higher value tasks and less time pushing paper. Analysis and interpretation of big data inputs, aligned with business objectives, will become core job requirements during the next decade. 4.1. Future of Recruiting tools and technology Software isn’t eating recruitment: software is making recruitment professionals more valuable Want to discover more about the Future of Work? Share ideas and learn from some of the world's leading experts in HR and recruitment. Attend an Unconference near you: www.globalhru.com REGISTER NOW Sponsored by Future of Talent: Trends 7
  8. 8. Sponsored by 4. Impact on HR / Recruitment Continued Ever since the recession there’s been a greater burden on employees to act like entrepreneurs. Steady progression can no longer be relied on. LinkedIn Co-founder & Chairman, Reid Hoffman co-authored The Start-Up of You to help people navigate the evolving rules of employment. Personal and professional branding has never been more important, especially for professionals, executives and knowledge economy workers. With the demise of long-term careers (many now stay with companies for only 4.4 years), reputations and professional victories should be displayed for the outside world, wherever applicable. Alongside the value of professional branding, - which is also something we can cultivate ourselves (with blogs,Twitter, Medium, LinkedIn) - will become a more important factor in hiring decisions. This could include: • Network value: including reach and Klout scores. connections: who do you know who might be useful for your employer? • Sector what currency does your reputation have within your sector? All of this was important long before the Internet. The corridors of power in every civilisation in the world have functioned this way for millennia, and the business community is no different. This is, however, the time we can quantify online which is why it will play a bigger role in hiring decisions in the future. What does this mean for a future workforce? Personal employee branding will become a key part of companies social media efforts, which means digital could count towards whether someone is offered a new job. Future of Talent: Trends 8
  9. 9. 5.The future of work? Much like the debate around the future of personal privacy and whether we have already given too much of ourselves to the Internet, work / life balance is now under threat like Deer during hunting season in Michigan. Molly Flatt, a social media consultant and editor for The Memo, wrote a great article on Medium about the issue of too much digital connectivity. She wonders whether we can true balance again, asking if throwing her hardware away is the right solution? “That would be an escape, not an answer. I don’t want to be a dinosaur, but nor do I want to be a drone. I still believe that social technologies can be an incredible force for good, not to mention fun. But I also think it’s time we started looking seriously, and publicly, at the unsustainable assumptions that underpin them, and the toll they take on our identities and our world.” Molly is not alone. The need for personal and professional digital branding means the lines blur between the two. People buy into people, not products or services, so we need to sell a little - or a lot - of ourselves to survive and thrive in our careers. As a result the lines between online, personal and professional blur further: life mirrors digital and digital mirrors life. What does this mean for a future workforce? There’s no escaping the ubiquitousness of digital platforms within our lives, but that doesn’t mean everyone wants to be connected all of the time. Laws might need to evolve to protect those who don’t want to participate so that future employees aren’t excluded from job opportunities due to personal digital preferences. How to navigate the future of work / life balance v work - life integration Future of Talent: Trends 9 Sponsored by Want to discover more about the Future of Work? Share ideas and learn from some of the world's leading experts in HR and recruitment. Attend an Unconference near you: www.globalhru.com REGISTER NOW
  10. 10. 6. Key Takeaways for the Future Workforce • In 2100, the global population will be between 9.6 and 12.3 billion people. • Some o poses a threat to humanity: is this the one line in the sand we must draw with technology? • Digital technology and social media platforms will reach universal, global levels of saturation, with corresponding impacts on our personal and professional lives; for some this, means a further breaking down of the barriers between the two. • e scores could be a factor in future recruitment decisions although laws may be needed to ensure those who retreat away from an over-saturation of technology aren’t excluded from the jobs market. • In many knowledge economy roles, including HR & recruitment, the impact of big data means the input of professionals will shift to the higher end of the value scale. Sponsored by Future of Talent: Trends 10 Want to discover more about the Future of Work? Share ideas and learn from some of the world's leading experts in HR and recruitment. Attend an Unconference near you: www.globalhru.com REGISTER NOW

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