Become a factualist employer
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The document discusses how employers can thrive in an uncertain world by becoming "factualist employers". Factualist employers redefine talent, focus on organizational agility, build talent internally rather than just buying it, and tie these elements together with a strong employer brand. They view talent as a strategic priority and driver of business success. Some key aspects of factualist employers are that they excel at profiling target talent groups, focus on creativity, passion and intelligence rather than just academic credentials when defining talent, and invest in developing talent internally through corporate universities and online learning platforms. The document advocates employers understand their current state, develop an integrated talent and business strategy with employer branding as a key part, and find ways to involve managers more directly in talent
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Become a factualist employer
- 1. Thriving in an Uncertain World – become a Factualist employer Universum Awards, 6 mars 2014
- 2. What’s going on in the world? THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER Talent availability Increasing pace of innovation Two-speed world Rapidly changing consumer behavior Talent loyalty Rapidly emerging markets Accelerating talent mobility No growth War for talent is over. Talent won. Shorter product life cycles Information avalanche
- 4. In an uncertain world, the “Factualists” emerge THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER Fatalists Factualists
- 5. What do Factualist employers do? THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER Make Talent a top priority Have a well defined EVP Have a clear purpose Are clearly differentiated View Talent as a strategic driver for business Excel at segmenting and profiling key target groups Factualist employers:
- 6. What gives Factualist employers a competitive edge? THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER THEY REDEFINE TALENT THEY FOCUS ON ORGANIZATIONAL AGILITY THEY ARE TALENT BUILDERS, NOT BUYERS THEY TIE IT ALL TOGETHER IN THEIR EMPLOYER BRAND
- 7. Redefining Talent – the old definitions are becoming irrelevant THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER Creativity Passion Fluid intelligence
- 8. Redefining Talent – where can Talent be found? THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER
- 9. Redefining Talent – beyond academia THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER
- 10. Redefining Talent – how is Talent being found? THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER
- 11. From Talent buyer to Talent builder THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER Are the graduates well prepared for a professional life? Yes: 72% 42% Source: Bersin by Deloitte Universities Employers
- 12. From Talent buyer to Talent builder – corporate universities THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER There is an estimated 4,000 formal corporate universities globally Source: BCG
- 13. From Talent buyer to Talent builder – MOOCs THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER
- 14. Reskilling HR – it’s a lot about technology THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER More than 60% of US employers are increasing investment in the area of Talent Analytics and employers who excel at this have improved their recruiting by 2x and their leadership pipeline by 3x (Bersin by Deloitte)
- 15. Reskilling HR – it seems to be requested THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER 43% of CEOs, CFOs and HR Directors believed that poor human capital management had kept them from reaching their key financial targets in the previous 18 months (CGMA) The need to “reskill HR” was rated one of the top five challenges in every geography (Human Capital Trends Survey, Bersin by Deloitte) Leverage the line managers!! 43% Top 5 challenge
- 16. Focus on organizational agility THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER of executives say that agility is crucial for business success Source: Economist Intelligence Unit 90%
- 17. Emergent vs deliberate strategies – the art of many bets THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER 70/20/10
- 18. Focus on organizational agility – it’s all about the core THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER Leading by committee Core Values
- 19. Adidas THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER Adidas Group – Make Greatness Happen
- 20. Tie it all together in the employer brand THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER AD HOC FACTUALISTSTRUCTURED • Find EB exciting • EB is an HR responsibility • Little senior Mgmt interest or buy-in • Some EB work tied to the business plan, if at all • Reactive, focused on best practice • EB is important but not essential to the corporate strategy • HR shares some of the responsibility for EB with other departments • A workforce plan is in place and is connected to the EB strategy • In proactive mode, experimenting with approaches to find new and innovative talent • EB is essential to achieving business objectives and a comprehensive talent strategy is in place • The entire organization is committed to becoming and staying an attractive employer – not least senior Management • A workforce plan is in place and is connected to the EB strategy
- 21. Steps towards becoming a Factualist THRIVING IN AN UNCERTAIN WORLD – BECOME A FACTUALIST EMPLOYER UNDERSTAND THE CURRENT STATE DEVELOP A TALENT STRATEGY THAT TIES IN WITH THE OVERALL BUSINESS STRATEGY, A SIGNIFICANT PART OF WHICH IS THE EMPLOYER BRAND STRATEGY DEVELOP AN OPERATIONAL EMPLOYER VALUE PROPOSITION DEVELOP AN UNDERSTANDING OF WHICH TECHNOLOGICAL ASPECTS COULD IMPROVE YOUR WORK WITH TALENT FIND WAYS OF INVOLVING LINE MANAGERS MORE IN TALENT MANAGEMENT, WITH THE ULTIMATE GOAL OF THEM MANAGING TALENT THEMSELVES 1 2 3 4 5
- 22. Thank you!
Notas do Editor
- According to Manpower’s Talent Shortage Survey 2013 an astounding 35% of 38,000 surveyed worldwide employers reported that they are experiencing difficulty filling jobs due to lack of available talent – which is the highest proportion since 2007.
- Fatalists: Do not take the threat seriously – thinking that “what has worked before will work now, too” Unwilling to question rigid internal processes and profiles that they are committed to Gut feeling Business-as-usual Will be lagging further and further behind as market forces pull the Factualists and Fatalists apart
- What are the top traits of Factualist employers? They make Talent a top priority, with senior management making it clear that attracting the best is the responsibility of the entire company, not just the HR department They view Talent as a strategic driver of business success and forge clear links between the business plan, the workforce plan and the Talent strategy They take Talent very seriously in the sense that they commit significant resources to Talent Attraction and base their hiring decisions on numbers to the extent possible They excel at segmenting and profiling key target groups They have an detailed understanding of their identity as an employer and what they have to offer prospective candidates, all encapsulated in the Employer Value Proposition They understand that anything less than clear differentiation to competitors dilutes the effectiveness of their employer branding efforts They have spent much effort on crystallizing their purpose to make sure that it is attractive and engaging
- PASSION In a less centralized environment the organization must rely on employees’ own drive This means recruiting for intrinsic motivation rather than candidates focused on money rewards PhDs rather than MBAs / “Acqui”-hiring INTELLECTUAL AGILITY The ability to adapt and change according to new circumstances becomes paramount Employers look for diversity in experiences Monsanto even has Agility as one of their core values CREATIVITY Lateral thinking and creative rethinking of the status quo is another valuable trait US vs. China – true innovation vs. copying
- WOMEN Women make up an increasing share of the educated talent pool Fortune 500 companies with more women at the top show significantly higher returns (Catalyst) Women are aligned with Millennials in their preference for flexibility and less hierarchy MINORITIES Companies with ‘inclusive cultures’ do better than others on many counts – higher customer satisfaction, productivity, profitability etc. (Gallup) Heterogeneous groups get better results than homogeneous ones (Kellogg) OLDER WORKERS Many older workers make up a depository of experience within the organization With the looming talent crisis becoming ever more pronounced all employers are going to have to figure out how to get them to stay longer IBM allows experienced managers to stay on part-time SES – Senioren-Experten-Service is a temp agency for retired experts who perform projects around the world DISABILITIES SAP hires people with autism in a special program and has seen tremendous success using autistic employees as software testers in India the program will now be introduced globally plan to hire hundreds of autistic people up to 2020 ultimately they intend for them to make up 1% of its 64,000 workforce Freddie Mac started offering internships to autistic people and have now begun expanding these efforts
- Facebook investor Peter Thiel offers 20 young people USD 100K in order not to go to college but instead work on an own project One of the recipients of the Thiel Fellowship, Dale Stephens, founded Uncollege, which enables people to pursue a USD 14K “gap year” instead of going to college The program consists of four phases – residency in SF, then a stint abroad outside your comfort zone, then an internship and then your own project that someone pays for
- EMPLOYEE REFERRALS/BOOMERANG HIRES With a stronger focus on hiring the right people the step towards focusing more on employee referrals is intuitive New holistic HR systems with dedicated skills inventories and integrated social capabilities mean referrals are given a new lease on life Referrals are the channel of choice for many start-ups Facebook has “ninja hunts” where they get employees together and brainstorm for friends or acquaintances that could be potential hires INTERNSHIPS / FREELANCERS Internships are a good way of seeing a candidate’s performance up close Few of educational provider 2U’s 550 employees have used a resume to come onboard – rather they have started as interns Another way of seeing a candidate’s work up close is to first hire them for a project using Odesk/Elance/Freelancer SIMULATIONS As technology opens up new paths to hiring many employers are using simulations to get a better grasp of not just a candidate’s skills but also her values and personality Simulations are cheap to conduct and scale well KPMG uses 1-hour work life simulations for candidates since many new hires were disappointed with the real life work TalentSIM lets candidates to analyze videos of execs in different situations (used by Citi, SocGen and Genentech)
- HIGHER EDUCATION DOES A POOR JOB OF PREPARING STUDENTS FOR THE WORK PLACE While 72% of universities believe that graduates are well prepared, only 42% of employers agree (Bersin by Deloitte) Universities still focus on instructor-led training whereas companies are allocating less and less resources to this and focusing more on video, games, simulations, etc. Infosys ‘Campus Connect’ has trained more than 100,000 students in India, ensuring they are ready for work from day 1 Petrobras started its own university IN THE WESTERN WORLD, MANY GRADUATES HAVE THE WRONG SKILL SETS, IN ASIA THE PROBLEM IS MORE A QUESTION OF QUALITY In the BRIC countries, only 15 to 30% of graduates are immediately employable (BCG)
- THE BEST EMPLOYERS ARE ALREADY TALENT BUILDERS AND THEIR COMPETITIVE EDGE WILL ONLY INCREASE Corporate universities have been around for decades and many are well known: GE, Charles Schwab, Motorola, Toyota, etc. The number of corporate universities in the US doubled in the 10 years to 2007 and globally there is an estimated 4,000 companies with formal corporate universities (BCG) There is significant variation in the resources committed to training between companies and industries per annum spending levels per employee vary from USD200 to over 3,000 (Bersin by Deloitte) with professional services organizations spending the most ‘People companies’ with strong talent development capabilities display up to 3.5x revenue growth and 2.1x profit margins (BCG) Unilever has an internal passport system that allows each of the 120,000 employees to register for and track their relevant training
- TECHNOLOGY IS RADICALLY RESHAPING CORPORATE TRAINING Employees expect their training to include video, games and to be integrated into other workplace tools, such as the CRM platform for sales people The use of MOOCs (Massively Open Online Courses is exploding AT&T is delivering an online master in computer science with GeorgiaTech and udacity Google’s engineering team is now on edx BofA and SAP have their own MOOCs
- THE TOOLS AT HR’S DISPOSAL ARE CHANGING We are currently in the early phase of a massive replacement of HR software For the first time Enterprise Resource Planning software providers like Oracle and SAP can offer full end-to-end solutions, promising a more intuitive user experience Many of these solutions will be running in the cloud This will open up avenues for employees themselves to handle many HR issues Also, new technological gadgets are entering the space When Bank of America wanted to find out whether face time mattered for productivity, it gave badges with meters that capture a number of parameters to 90 call center staff the measures taken afterwards increased productivity by 10% Many employers are looking into “smart buildings”, wired with technologies that show their employees’ location in real time and suggest meetings with colleagues nearby it’s about “engineered serendipity” Google Glass is now being adapted for recruitment purposes and will open up new ways of interviewing BIG DATA / DATA ANALYSIS IS STILL VIRGIN TERRITORY FOR MANY BUT HOLDS IMMENSE PROMISE Many employers collect reams of data but few know what to do with it More than 60% of US employers are increasing investment in the area of Talent Analytics and employers who excel at this have improved their recruiting by 2x and their leadership pipeline by 3x (Bersin by Deloitte) Xerox used big data to cut its attrition by 20% Microsoft used data analysis to find out which employees were likely to look for a new job Google stands out as the most proficient player in the space
- HR WILL HAVE TO RESKILL IN ORDER TO RISE TO THE CHALLENGE 43% of CEOs, CFOs and HR directors believed poor human capital management had kept their companies from reaching key financial targets in the previous 18 months (CGMA) The need to “reskill HR” was rated one of the top five challenges in every geography (Human Capital Trends Survey, Bersin by Deloitte) HR WILL NEED TO TAKE ON BOARD MANY NEW COMPETENCIES – AND LOSE SOME OLD ONES People skilled in analytics and IT will be needed as HR transitions to its new role As many tasks within the scope of compensation, benefits and payrolls are increasingly automated there will be an ongoing shift towards more strategic roles within HR AS THE REST OF THE ORGANIZATION STRUGGLES TO GAIN IN AGILITY, HR WILL HAVE TO GO THE SAME ROUTE In order to become more agile, HR will have to get out of the way The biggest contributor to HR agility is the freedom to focus on strategic HR issues Only 9% of major companies use sophisticated workforce planning (BCG) Line managers’ ability to manage their talent is the single biggest contributor to an agile HR group – a contribution four times larger than the next contributor on the list (Bersin by Deloitte)
- IN ORDER TO INCREASE INNOVATION THE ORGANIZATION NEEDS TO BECOME MORE AGILE Nearly 90% of executives surveyed by the Economist Intelligence Unit in 2009 believe that organizational agility is crucial for business success Research also suggests that agile firms grow revenue 37% faster and generate 30% higher profits than non-agile companies (MIT) Facebook’s motto is “move fast and break things”
- COMPANIES ARE USING MORE EMERGENT AND LESS DELIBERATE STRATEGY Deliberate strategy (leaders set goals and develop plans and strategies to achieve them) vs. Emergent strategy (emerges as the environment changes and the organization shifts and adapts to apply its strengths to a changing reality) – Mintzberg Deliberate strategy asks “What do we want to achieve?” whereas Emergent strategy is all about “What is possible, with the means we have at our disposal?” Emergent strategy dictates that companies focus on always having a large number of bets Larger companies have an advantage as they have the resources to fund more experiments GE, Google, Amazon all subscribe to this view Facebook’s motto is “move fast and break things”
- AS ORGANIZATIONAL SPEED AND AGILITY BECOME MORE IMPORTANT EMPLOYERS NEED TO EMPOWER EMPLOYEES TO MAKE DECISIONS In the age of social media and shortening product life cycles, ‘leading by committee’ hampers speed The only way to successfully devolve responsibility is to focus instead on enforcing common values and rules CONTAINER VS. SUBSTANCE When the ground shakes, the structure of the organization must be flexible CORPORATE IDENTITY AND VALUES TAKE CENTER STAGE A strong and clear culture that is credibly enforced throughout the organization acts as a guiding light for employees Standard Chartered operates in some markets with turnover of up to 90% to cope, it focuses on the long term (“Here for good”) and aims to be a force for good employees have three paid days per year for doing work in the community Again, many of the best employers in Silicon Valley are incredibly strong on this aspect Facebook allows their employees to take as many sick days as they need (but they count on team morale to keep them at a minimum) Google even has a word for the quality they are looking for – ‘googliness’ LEADERSHIP IN AN AGILE ORGANIZATION IS DIFFERENT Leaders will focus less on micro-managing and more on enforcing common values They will be more concerned with securing collaboration between teams and individuals than protecting their own department or silo Knowing that innovation is essential they will try to keep all factors surrounding the actual work flexible in order to allow employees to focus
- 1. UNDERSTANDING THE STATUS QUO Aggregating the information from internal sources such as employee engagement surveys, external brand surveys as well as the goals from the business plans allows you to get an overview of where you stand Benchmark yourself to your peers in your industry as well as top employers in adjacent industries and relevant geographies What is their standing in external rankings, on Glassdoor, etc.? How important is Talent Attraction to your senior management and your corporate strategy? 2. DEVELOP AN OPERATIONAL EMPLOYER VALUE PROPOSITION Before setting goals or thinking about where you want to go as an employer it is essential to be clear about where you stand and what you believe you can offer prospective employees 3. DEVELOP A TALENT STRATEGY THAT TIES IN WITH THE OVERALL BUSINESS STRATEGY, A SIGNIFICANT PART OF WHICH IS THE EMPLOYER BRAND STRATEGY A clear driver of success is the shared responsibility of different stakeholders/departments within the organization for the attractiveness of your company as an employer 4. DEVELOP AN UNDERSTANDING OF WHICH TECHNOLOGICAL ASPECTS COULD IMPROVE YOUR WORK WITH TALENT Start looking into how you can leverage data analytics more within your current situation Investigate whether it would make sense for you to invest in new, cloud-based HR systems 5. FIND WAYS OF INVOLVING LINE MANAGERS MORE IN TALENT MANAGEMENT, WITH THE ULTIMATE GOAL OF THEM MANAGING TALENT THEMSELVES