People@ trends 2017
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This document provides an overview of key talent trends for 2017, including important insights around skills, leadership, workplace culture, and talent management strategies. Some of the main points covered are the rising demand for skills in areas like data analysis, coding, and collaboration; the need for companies to attract and retain new talent to stay competitive; the types of skills CEOs need to lead organizations effectively; and how tools like crowdsourcing platforms and HR software can help companies develop their workforce. The document presents data and perspectives from a variety of sources on evolving workforce and organizational issues.
People@ trends 2017
- 1. TALENT TRENDS 2017 19 people insights plus relevant data that can tighten your talent strategy in a connected world March 2017
- 2. – Lawrence Bossidy, GE “The only vital value an enterprise has is the experience, skills, – Leif Edvinssson, Consultant and Professor at the University of Lund “If you run a business, put your employees on top, then your customers and then your shareholders” – Richard Branson, Founder Virgin Group – Steve Faktor, Workplace innovation expert “Great vision without great people is irrelevant” – Jim Collins, Good To Great “I am convinced that nothing we do is more important than hiring and developing people. At the end of the day you bet on people, not on strategies” “Businesses don’t create value, people do!” – Dominic Bauton, Managing Director of McKinsey & Co. “Company culture is the single biggest reason a person succeeds in one company and fails in another” innovation and its people’s insights”
- 3. Skills demand global outlook Ongoing learning Top employee perks Six critical job positions to secure Productivity tools and HR KPIs Millennials and GenX workforce C-level compensation Leadership to drive productivity The new corporate DNA Workspace layout Internal talent development Crowdsourcing platforms HR SaaS Drivers of change on employee skills CEO’s enhanced skills Skills of the future Employees work reconfiguration TALENT TRENDS 2017 Skills shortage by country People and strategy
- 4. Source: KPCB, 2015. 1 Performance Culture + morale ExecutionVision Planning Dreaming Budgeting People are for...Strategy is for... Quality assurance People are the most important drivers of successful strategy executions 1
- 5. Source: Aaron Sachs & Anupam Kundu, “The Unfinished Business of Organizational Transformation”, November 2015. 2 2 Most companies are adapting their DNA to foster collaboration and engage their people From... To... Transparency Privacy Empowerment ControlHierarchies NetworksNetworks Profit and purpose and purpose Experimentation Planning
- 6. Companies must attract and retain new talents to stay competitive Source: World Economic Forum, “The Future of Jobs”, January 2016. 3 3 Technological 34% 26% 22% 44% 23% 23% 16% 13% 12% 14% 12% 9% Mobile internet, cloud technology Processing power, Big Data Internet of things Sharing economy, crowdsourcing AI, robotics, autonomous transport Changing nature of work, flexibility Middle class in emerging markets Climate change, natural resources Consumer ethics, privacy issues Young demogrphics in emerging markets Women´s economic power, aspirations Demographic and socio-economic Employee Skills: Top Change Drivers into 2025 (% of respondents) New energy sources
- 7. Source: Jacob Morgan, “The Future of Work: Attract New Talent, Build Better Leaders, and Create a Competitive Organization”, August 2014. 4 4 Work anytime Work anywhere Use any device Rely on collaboration technologies Focus on adaptative learning FUTURE Technology and connectivity adoption has changed how employees work PAST Work 9-5 Work in a corporate office Use company equipment Rely on email Focus on knowledge
- 8. Source: World Economic Forum, “The Future of Jobs”, January 2016. 5 5 Business, finance, computer science, engineering and math are increasingly sought-after skills Global Employment Skills Demand, 2015-2020 (job changes, 000) Decline Growth -4,759 -1,609 -497 -151 -109 -40 +66 +303 +339 +405 +416 +492 Office and administrative Manufacturing and production Construction and extraction Arts, design, entertainment, sports and media Legal Education and training Sales and related Architecture and engineering Computer and mathematical Management Business and financial operations Installation and maintenance
- 9. Security/compliance/ governance 26% Database administration 25% Web development 26% Help desk/ tech support 35% Mobile applications and device management 21% Programming / application development 35% Business intelligence/ analytics 26% Cloud/SaaS 26% Big Data 25% Project management 25% Source: The Economist, “Lifelong Learning”, January 14, 2017 Edition. Thomas Friedman, “Thank you for Being Late”, 2016. Forbes, “Computerworld’s 10 Hottest Tech Skills for 2017”, December 27, 2016. 6 6 New skill-sets become critical in the job market Top 10 hot skills 2017 (% of respondents that plan to hire in the next 12 months) Must-have skills for everyone Most demanded skills in 2016 Data analysis +372% in 5 years Data visualization +2,574% in 5 years Coding In the US, 50% of the highest-paid job listings require coding skills People skills (even for the geeks!) Empathy Creativity Problem solving Communication Quick learning curve Strong fundamentals in writing, reading, coding and math Critical thinking Virtual collaboration (work productively with virtual teams / collaborate with technology) Entrepreneurship and improvisation Lifelong learning habits
- 10. Top10 Countries Facing the Skills Shortage, 2014 of core skills will change between 2015 and 2020 of jobs will require some type of technical training by 2020 Source: World Economic Forum, “The Future of Jobs”, July 2016. The Economist, “Lifelong Learning”, January 14, 2017 Edition. 7 7 Many countries are feeling a workforce squeeze 35% 75% Brazil 63% Australia 40% Greece 41% India 64% Italy 34% Japan 81% Mexico 44% Turkey 63% United States 40% Germany 40%
- 11. Source: People@ analysis, 2017. 8 8 Six critical positions need to be filled to better prepare companies for the future Head of Technology and Information Strategy | Recruitment | Training | Compensation Workspaces | Internal Communication Best Place to Work Standards Product Design | Profitability | Digital Social | Mobile | Loyalty Governing Protocols | Structure Design M+A | Modeling | Project Management Database Management | Predictive Analytics Data Gathering + Visualization | Tools (Tableau…) Zero-Based Budgeting | eProcurement Full IT Back-Office | CRM Traffic | Data Analytics Hardware | Software | Data Warehousing - DBA Security | Mobile Technology | Cloud Computing Head of Talent Product Development and Performance Marketing Strategy + New Business Development Business Intelligence Data-Driven Finance Manager
- 12. Source: PwC, “20th CEO Survey”, 2017. Thomas Friedman, “Thank you for Being Late”, 2016. 9 9 CEOs need enhanced skills to attract, lead, motivate and monitor talent while accelerating value creation of CEOs worry skills shortages could impair their companies’ growth The role of a leader is to help people face reality and mobilize them to change as their environment transforms −to ensure the security and prosperity of their community Tomorrow’s business leaders will need to collaborate widely and embrace decentralized decision-making 77% Data-driven decision-making agility Forward and innovational thinker Inspirational with clarity Adaptability / open to change Tech-savvy Risk taker Capacity to attract and retain top talent
- 13. Source: World Economic Forum, November, 2016. www.entrepreneur.com - “The Difference Between a Leader and a Boss”, December, 2016. 10 10 Good leadership drives emplyee motivation and productivity BOSS LEADER VS. “People leave managers, not companies” 70% of an employee’s motivation is influenced by his manager Motivated employees are 31% more productive Drives employees Depends on authority Inspires fear Places blame for breakdown Knows how it’s done Takes credit Creates followers Says “Go!” Coaches employees Depends on goodwill Generates enthusiasm Fixes the breakdown Shows how it’s done Gives credit Creates leaders Says “Let’s go!”
- 14. Outsource tools and creativity for speed, freshness and savings Business expert solutions bidding platform • Over 25K business experts • Top talent from MBA professionals • 99% avg. satisfaction rate Translations by native speakers worldwide • 20K native speakers in 140+ countries • Translated 130M words across 35+ languages • 95% of orders are started within 120 minutes and completed on avg. in 1 hour 11 11Source: People@ research on each platform, 2017. Crowdsourcing platform for computer programming • Community of 1M+ design and technology experts • 7K+ crowdsourcing challenges per year • $80M annually to the community Global freelancing marketplace • 12M registered freelancers • 3M jobs posted annually, generating $1B+ USD • 5M+ registered clients Community of creators solving brands’ challenges • 374K creative individuals from 174 countries • 117K ideas submitted in 1,097 contests • $7M Euros awarded in prizes Graphic design hub (logo, web) • Submit a project, then designers compete to work on it • Community of 1.1M+ designers • 365K customers Largest freelancer marketplace • 23M registered users • 11M total jobs posted
- 15. Increase C-level share of performance-based compensation 2015 Annual bonus Stock awards Stock options Other 2010 30.7% 18.6% 31.4% 11.6% 35.0% 21.6% 20.9% 12.8% 7.7%9.7% 12 12Source: The Conference Board, “CEO and Executive Compensation Practices”, 2016 Edition, May 2016. Note: Based on Russell 3000. Performance Based Base salary
- 16. Source: Glassdoor, “Q3 2015 US Employment Confidence Survey”, 2015. 13 Perks drive employee engagement and productivity Healthcare insurance 40% Tuition reimbursement Employee development programs Vacation / Paid time off 37% Performance bonus 35% 32% 31% Paid sick days Employee discounts 19% 19% 18% 17% Flexible schedule Office perks (i.e., free lunch, casual dress) 30% Retirement Plan/ Pension 13 Perks Employees Prefer over Pay-Raises (% of respondents) of employees would trade a salary increase for certain perks56%
- 17. Source: Upwork, “The 2015 Millennial Majority Workforce Report”, USA, October 2014. HR, “6 Millennial Retention Strategies to Adopt in 2015”, January 2015. 14 14 expect to stay in a job fewer than 3 years Narcissistic I only think of myself Open to change Creative Millennials Millennials... (16-34) Confident Team player Money driven would rather spend money on an event than a purchase will choose workplace flexibility over pay 27% 46% 80% 72% 66% 65% 91% 78% 45% Generation X (35-55) 20% 28% 34% 35% 73% 54% 54% have already started their own business or want to start one Younger generations have new ways of working and a different set of expectations and motivations
- 18. Source: The Economist, “Lifelong Learning”, January 14, 2017 Edition. 15 15 Ongoing training and learning is key to marketplace relevance Online Courses and Registered Users (in millions of users) Cumulative number of courses Courses by Subject (2011-2017) 1 3 10 18 36 57 1,300 1,200 700 650 650 620 450 450 500 250 Business and management Computer science and programming Science Social sciences Humanities Education and teaching Health and medicine Art and design Engineering Math 2011 2012 2013 2014 2015 2016 6.8K
- 19. Source: Cornerstone onDemand, “The ROI of Talent Management”, 2013. 16 16 HR SaaS adoption supports life-cycle management Onboarding Specialized Recruiting Tools Succession Permanent Learning Compensation Performance Database Communication (bi-directional)
- 20. Source: Kronos, “Top Workforce Trends for 2017”, January 2017. 17 17 Business analytics are a must when it comes to turnover, engagement, customer satisfaction and productivity Typical HR KPIsProductivity Tools Info Sharing Communication Project Management Customer Relationship Management (CRM) Social Media Turnover rate Reasons for leaving the company Happiness/ satisfaction index Cost per hire Employee engagement rate Salaries benchmark vs. competitors Productivity rate Performance (% of employees below standards) Training cost per employee Onboarding time/cost First-year voluntary termination rate Avg. time to fill job vacancy
- 21. Pay Source: Wharton, People Analytics online course in 2016. Cornerstone onDemand, 2016. 18 18 New hires...Employee Turnover Predictors (inverse correlation) Are more likely to perform worse than internally promoted employees 270% more likely to get lowest rating Supervisor relationship Job satisfaction / Role conflict Promotion opportunities Co-worker satisfaction / Stress Require three years to reach internally-promoted-employee performance levels Receive 18% more compensation over those promoted internally (7 years required to close pay gap) correlation+ correlation- 6 months’ salary for low-train positions / 12 months for high-train positions! HIRING COST COST OF TURNOVER TRAINING OPPORTUNITY COST= + + 0.25 0.22 0.16 0.13 0.11 Internal talent development –instead of new-hires– provides greater corporate value
- 22. Plants and greenery Natural light Temperature and air quality Private spaces (to support focused work) Bright colors Lounge areas for causal interaction Outside views Source: PSFK, “The Future of Work”, 2013. Forbes - Entrepreneurs, 2013. Photo WeWork. 19 19 Office layout supports different work styles and boosts productivity 9 out of 10 people believe their workspace quality affects attitudes and increases productivity Open spaces (to promote teamwork and communication)
- 23. ABOUT : we build your future skills People@ is a leading consulting firm specialized in human capital development within a connected world and a ever-shifting marketplace. With 15+ years of proven experience, our skills include robust strategic planning and executive search backgrounds. We focus mostly on industries such as: legal, media, technology, energy, hospitality, financial and services. Our mission is to become the #1 human capital partner for our clients, while helping them aggregate and nurture the right structure and skills. 20 EXECUTIVE SEARCH MANAGEMENT ASSESSMENT OUTPLACEMENT Candidate profiling and optimal job design Key personnel industry mapping Search, filtering, reference checking and assessments Inbound process and training Structure assessment, design and recommendations Talent skills and human capital process assessment HR systems and mapping reports Outplacement strategy Outbound office services Individual coaching
- 24. Contact +52 (55) 5280 3300 [email protected] Julio Verne # 89-303, Polanco Reforma, C.P. 11550 Miguel Hidalgo, Mexico City www.peopleat.net