Issues in HRM

WEEK 1

Moving Boldly Ahead

ㅡ ● Many things have changed in last few years such as work-life priorities, job
Introduction structures

ㅡ
3 Areas of focus to
move boldly ahed

Economic Confidence ● Employees want stability

● Employers should respond to concerns with care and communicate
frequently
● Employees are concerned about their financial well being
● 13% of workforce demonstrates basic financial knowledge

- Why does it matter? ● Declining mental health

○ 72% of employees are stressed about their finances
● Lost productivity
○ Employees lose 11 hours of productivity a week due to financial
stress

- How to help ● Conduct a total compensation review

○ Understand employee preferences and needs for compensation
packages
○ Ensure employer remains competitive
● Offer financial education to employees
○ Foster a culture of continuous learning
○ Give employees access to data driven learning management tools to
improve financial literacy

Inspiring Talent ● employers can contribute to increasing employee engagement by effectively

managing and meeting employee expectations

- Why does it matter? ● Different generations have different expectations

○ Gen z and millennials want flexibility while gen x is driven by work
life balance and customizable career paths
● Communication preferences can vary

- How to help ● Establish a governance system

○ allows employees to solve the problems they directly touch,
increasing their engagement and sense of ownership
● Design career paths
○ Employers can outline advancement opportunities that help
motivate employees to progress through the organization
○ Offer opportunities for strong performers
● Listen to your employees
 ○ Use surveys to assess employees feelings and how they respond to
communication about change
○ Allow employees to see results of survey

Advancing Wellbeing ● Align employee needs with organization expectations

● Support employees through the transition of reimagined workplace

- Why does it matter? ● Employees are burnt out

○ Working more hours and spending more time in front of screen,
work-life boundaries are diminishing
● Psychological safety is a high priority
○ Employee recognition is important
○ When employees feel valued, they trust leadership and have
confidence in companies future
● Employees are experiencing change fatigue
○ Communicate change will help employees move on from present to
desired future state

- How to help ● Empower your leaders

● Do a compensation review
○ Is it fair and competitive? Do they speak to how you value your
employees?
● Develop a change management approach
○ Gain leadership support for change, involve employees early
through an employee-led committee, support the committee in
driving initiatives, remove barriers, celebrate small victories, and
ensure a sustainable pace for lasting change in the organizational
culture

Deloitte Insights:

ㅡ
New Fundamentals for ● Traditional boundaries are diminishing due to disruption and discontinuity,
a boundaryless world making need to adapt and relying on new principles to navigate in
boundaryless world
Deloitte 2023 Global ● Work is no longer defined by traditional jobs
Human Capital Trends

Framing the challenge: ● Navigating the end of jobs: skills replace jobs
Think like a researcher ● Powering human impact with technology: technology contributes to
making work better for humans and making humans better at work
● Activating the future of workplace: the workplace evolves to be an input to
the work itself

Charting a new path: ● Negotiating worker data: Organizations and workers vie for control of
Co-create the worker data when they should focus on mutual benefits
relationship ● Harnessing worker agency: Organizations drive value and strengthen their
relationship with workers by embracing rising worker influence
● Unlocking the workforce ecosystem: Removing traditional employment
distinctions unlocks access to a true workforce ecosystem—and with it,
critical skills and worker potential

Designing for human ● Taking bold action for equitable outcomes: Removing traditional
impact: Prioritize employment distinctions unlocks access to a true workforce ecosystem—
human outcomes and with it, critical skills and worker potential
● Advancing the human element of sustainability: Human sustainability rises
to the fore of organizations’ sustainability strategies
● Elevating the focus on human risk: Opening the aperture and changing the
lens on risks to focus on the human element

Leading in a ● Leadership in the future requires a focus on how and where leaders engage.
boundaryless world It emphasizes a mindset that values experimentation, learning, and
accelerating value.
● Building close relationships with workers through co-creation and
considering the human agenda in decision-making is crucial.

Generative AI and
HRM

ㅡ
What does ChatGPT ● Important to first understand the tool and experiment with it
mean for HR? ○ Articulate these findings to senior leadership as they need to
Game Changing tool understand the importance

Benefits ●
WEEK 3
Indeed & Glassdoors
Hiring and Workplace
Trends

● US, Canada, the UK, France, Germany, and Japan will experience an ongoing
shortage of workers as their populations are aging.
● COVID made workers realize that they have leverage to demand change in
the workplace
● five trends of the modern workplace that will reshape the labor market in
the long-term

Trends 1. Tight labor supply will continue to impact hiring

○ Hiring difficulties won't go away as COVID diminishes
○ Deep-seated and long-term supply dynamics contribute to persistent
hiring challenges
○ Gap between employer demand for new hires and the supply of
candidates will continue
○ Gives workers more power to demand changes
○ Reduced immigration can create challenges
○ WHAT CAN BE DONE?
■ Immigration
● Attracting workers from abroad can promote hiring
● National policies that allow immigrants quick access
to employment widen avenues for recruitment
■ Overlooked pools of workers:
● Employers in the US and other countries are looking
to include overlooked groups, like those with
criminal records.
● Anti-discrimination laws protect disabled
individuals, but there's room for improvement
through flexible work policies.
● Flexibility in work scheduling is essential for
attracting and retaining older demographics and
women managing job and childcare responsibilities.
■ Investing in productivity-enhancing technology
● Can boost productivity
● can help address gaps in the labor supply rather
than necessarily leading to widespread job loss.
2. Remote work is here to stay
○ Only third of occupations are suitable for remote work (food)
○ Employers may find it difficult to fill in person jobs
■ Responding by offering signing bonuses
○ Trends
■ Software development job postings lead in advertising
remote work across markets.
■ 30% of marketing job postings in canada mention remote
work
● Increase from 5.9% before the pandemic
■ banking and finance job postings continue to advertise
remote work
● In canada, 23% mention remote work
 3. As workers seek higher pay, benefits can set employers apart
○ Higher pay is most selected reason searched for new job
○ three major benefit categories— healthcare, retirement, and paid
time off —has climbed across the US labor market.
○ Free lunches are on the rise
4. Happiness and wellbeing matter
○ Demanding increased levels of happiness, satisfaction, purpose, and
manageable stress
○ Stress is leading to turnover
○ Young workers focus on social justice
5. The changing workforce is pushing diversity, equity and inclusion to the
forefront
○ Survey shows that age and generation—more so than gender,
race/ethnicity, geography, sexual orientation, or parental
status—determine whether someone believes DEI is important in
the workplace.
○ May leave company, turn down job offer if DEI initiatives were not
supported
○ DEI program - benefits such as employee resource groups, diversity
training, and mentoring programs

The New Collar ● Urges companies to use skills first approach rather than relying on 4 year
Workforce degrees
● this change is necessary to unlock a vast and diverse talent pool, improve
efficiency, and address issues related to racial and economic inequality.
● Hiring managers use a degree as a proxy for skills but evidence lacks in
supporting effectiveness of degree requirements
● IBM
○ Used this approach
○ Building a New Skills Taxonomy:
■ Reevaluated job descriptions to identify necessary skills.
■ Emphasized specific abilities over general credentials in job
postings.
■ Collaborated on crafting job descriptions with input from
HR, hiring managers, and experienced supervisors.
○ Broadening the Talent Pool:
■ Implemented on-ramps like apprenticeships, internships,
and training programs.
○ Reimagining Existing Relationships:
■ Companies should assess and transform relationships with
educational institutions and talent developers.
○ Retraining Managers:
■ Hiring managers are crucial; traditional proxies for capability
(degrees, prior work experience) must be avoided.
■ Provide tools, job-relevant evaluation rubrics, and training to
recognize biases.
○ Scaling Appropriately:
■ Avoid a tentative approach; a robust cohort experience is
critical for both nontraditional hires and their colleagues.
■ Leaders should update corporate norms and practices to
embed skills-first thinking throughout talent management.
● Benefits
 ○ Better matching between job candidates and positions.
○ Dramatic expansion of talent pools.
○ Improved internal mobility and employee commitment.
○ Incentives for HR departments to stay aware of job requirements.
○ Potential to mitigate economic and racial inequalities.
● goal is to create a more inclusive, diverse, and talent-rich workforce,
benefiting both individuals and society as a whole.

How to Design an ● ITMs aim to align company needs with employee preferences, allowing
Internal Talent employees to choose their roles and assignments within the organization.
Marketplace ● 4 benefits of ITMs
○ Reduced Replacement Costs: ITMs contribute to higher retention
rates by providing growth opportunities and career paths for
employees.
○ Better Placement within a Large Workforce: The U.S. Department of
Defense's success with ITMs is attributed to the network effects of
larger markets, providing more job options and increasing the
benefits of participation. Even smaller companies can benefit from
ITMs.
○ More Opportunities for Generalists: Companies with a tendency to
hire generalists benefit from ITMs, as these employees can select
tasks they enjoy without fear of failure.
○ Better Aggregation of Insights: ITMs facilitate the collection of
valuable information from employees, improving knowledge flow
within the organization.
○ can enhance motivation and engagement, resulting in higher
retention rates and lower replacement costs.
● Guidelines to build ITM
○ Choose the Right Platform: Decide between creating a custom ITM
or licensing software from third-party vendors
○ Prepare Your Organization: Address employee concerns about career
options and how the ITM will be used for promotion and
development. Clarify how the ITM aids transitions and headcount
coordination.
○ Launch Support Programs: Implement complementary programs,
such as career-coaching, to assist employees in creating profiles,
setting goals, and pursuing opportunities. Managers can optimize
job postings for maximum reach.
○ Consider Company Culture: Be mindful of company norms regarding
internal mobility and potential sensitivities. Communicate openly,
dispel taboos, and use rollout periods to prepare employees with
informational videos, FAQ documents, and live Q&As.
○ Leverage ITM Data: Use insights from the ITM to identify gaps
between employee preferences and company needs. Understand
whether employees prioritize projects or career growth and adjust
communication strategies accordingly.
● risks/challenges
○ Some may opt for less challenging roles or select assignments to
develop skills they lack.
○ Mismatches may occur due to overconfidence or the concentration
of talent in certain teams, leaving others talent-starved.
● Preventing Misalignment Techniques:
 ○ Nudges: Offer tips or nudges within the ITM interface to guide
employees toward company-preferred matches, reducing choice
overload and focusing on qualified roles.
○ Incentives: Provide incentives, such as bonuses or recognition, to
encourage employees to choose roles aligned with the company's
priorities, addressing high-priority vacancies.
○ Executive and HR Oversight: Implement oversight by executives and
HR to ensure that employee choices align with the organization's
overarching goals. Direct supervisors may not guarantee alignment
as they may have conflicting agendas.

ITM
● generate valuable data but may loosen managerial control over assignments.
● improve engagement and retention, but they can create conflict between
workers' and companies' objectives.
Conclusion
● THE PROBLEM
○ Companies with traditional hiring and promotion processes struggle
to retain high-achieving workers.
● WHY IT HAPPENS
○ Employees prefer to work for companies that allow them to choose
their own roles and assignments.
● THE SOLUTION
○ Internal talent marketplaces give employees and managers some
measure of control over whom they work with and what they work
on, increasing satisfaction for both.