Tag Archives: Demographics

Internet Trends and the USA’s Income Statement

Every year, I look forward to two reports:  The Deloitte Human Capital Trends report and the Kleiner Perkins Internet Trends report. I’ve written about the Deloitte report here and here; and the Internet Trends report here and here. The 2017 Internet Trends report was published last week and it’s a doozy!

Ever year Mary Meeker, from Kleiner Perkins, takes a vast look at what the Internet is doing to the world. How it is changing everything. While it’s never about HR, per se, HR is in most nooks and crannies of the data that are shared. And it really should be required reading for all business leaders. Including HR. This year, at 355 pages, the report is a blockbuster. And worthy of more than one Data Point Tuesday post.

This year’s report looks at these areas:

  • Global internet trends
  • Online advertising (and commerce)
  • Interactive games
  • Media
  • The cloud
  • China Internet
  • India Internet
  • Healthcare
  • Global public/private Internet companies
  • Some macro thoughts
  • Closing thoughts

To be honest, I always start with the macro thoughts section. This is where she drops the aha! moments. Well, at least for me. And this year was no different. Part of the macro thoughts are about USA, Inc. and she leads off with the USA’s income statement comparing F1986 through F2016. If you think of the USA as a business, this is eye popping.

What does this have to do with HR? Well, nothing and everything. Understanding income statements is a requirement for any business leader today. Including those in HR. Understanding how our businesses spend and make money is key to being able to successfully lead and invest in people.

Understanding our nation’s income statement should be a requirement for every citizen. Knowing how the taxes we pay are used, where our money is being invested, and the state of our debt are all important things for us to know. Be honest:  have you ever really thought about our nation’s finances from an income statement perspective? Even if you have, this ought to be under a magnet on your refrigerator door!

Knowing the state of our nation’s finances will put into perspective the state of your employer’s finances – and the choices that are being made nationally as well as at work. This is called perspective and it’s a valuable thing to have.

Next week, we’ll take a look at another aspect of the Internet Trends Report for 2017 that may have a more direct connection to the world of HR. In the meantime, you might take a look at it here. (And the 355 pages are PowerPoint pages, so they’re pretty easy to move through.)

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Filed under Analytics, Big Data and HR, China Gorman, Data Point Tuesday, Deloitte, Demographics, HR Trends, Internet Trends, KPCB, Mary Meeker

Are You Planning For Your Future Workforce?

Accenture’s strategy group has published an interesting look at the workforce of the future:  Harnessing Revolution, Creating the future workforce. At an easily consumable 28 pages, it focuses on three primary areas of emphasis for organizations wanting to get a competitive leg up in the hyper competitive talent markets:

  1. Accelerate reskilling people
  2. Redesign work to unlock human potential
  3. Strengthen the talent pipeline from its source

If you’re starting to discuss talent acquisition, development, and retention strategies with your C-Suite, you’re a little late – and this report will be helpful in scoping out the known and unknown challenges barreling down the pike.

The report is full of good news like data presented that show workers being optimistic about the impact that technology will bring to their work life:  “…instead of resenting technology, 84 percent report being excited about the changes it will bring. A full 87 percent are downright optimistic, projecting that it will actually improve their work experience in the next five years.” So that’s some good news we’ve haven’t seen before.

As an advocate for humans and humanity in the workplace, I was especially pleased to see an emphasis in the report on the value that human skills bring to the enterprise:  “our model shows fewer jobs will be lost to automation if people are able to reallocate their skills to tasks that require more ‘human skills’ such as complex analysis and social/emotional intelligence.” The following figure shows that perhaps the gross fears of automation and job eliminations may not be grounded in fact:

The challenge of job loss due to automation is clearly real. But as this report shares, reallocation of skills will significantly decrease job loss. Accenture’s research shows that investments in reskilling the workforce will “dramatically” reduce job loss: “Estimates for Europe show that a one percent increase in training days leads to a three percent increase in productivity, and that overall productivity growth attributable to training is around 16 percent.”

The section on focusing on reskilling people is short and sweet:

  1. Reskill at the top of the house
  2. Keep building on what you have
  3. Change the mindset to “learning as a way of life”
  4. Use digital to learn digital

While, paragraphs 2 – 4 are expected, paragraph 1 is not. Accenture’s research points to a lack of technology skill and experience in the boardroom. And from a leadership perspective, leading in horizontal rather than hierarchical ways will be foundational. Investing in additional skills at the top of the house could make or break your workforce planning outcomes.

There are lots of nuggets in this report. It’s a pretty quick read and the data sources include Accenture, of course, and the likes of the World Economic Forum, Manpower Group, ILO, OECD, Harvard Business Review, Pew Research Center, INSEAD and many others. Citing these sources is one of the reasons I really like the report. This isn’t the usual white paper.

If you’re really getting into the weeds of planning for your future workforce, this is a strong addition to your data sources. Not only is the report useful, but the list of source material could keep you going for weeks.

 

 

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Filed under Accenture, China Gorman, Data Point Tuesday, Demographics, Future of Work, Generations at work, Gig Economy, HR Data, HR Trends, Human Capital, Strategic Workforce Planning, Talent Management, Workforce Demographics, Workforce Planning

What The Heck Is Candidate Experience?

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Well, it’s that time of year. All kinds of new research reports are being published – the kinds of reports that we collect and never seem to have enough time to read. We’ve all got them on our hard drives. But here’s one you’ll download and read. Multiple times. The information is that useful!

Of course, I’m talking about the Candidate Experience 2016 report. It’s here! Talent Board, the non-profit organization behind the data collection, research, and report, has stepped up to the plate again. As background, Talent Board, was founded by Gerry Crispin, Elaine Orler, and Ed Newman, in 2010 to “recognize the candidate experience offered by companies throughout the entire recruitment cycle and to forever change the manner in which job candidates are treated.” Starting first with the North America market, it has since grown to include the United Kingdom, EMEA (Europe, the Middle East and Africa), as well as the Asia Pacific region. I’ll share information from the North America market, but know that there are layers of data and analysis that are truly global in their reach.

For 2016, data were collected from 183,000 candidates who applied to more than 240 organizations who wanted to know what their candidates thought about their experience as employment candidates.

Broken down into three major sections – Attract, Recruit, and Hire – the data collected are fascinating. Within these three sections are subsections that cover the complete candidate experience:  Employer Branding, Recruitment Marketing and Sourcing in the Attract section; Apply, Screen and Disposition, and Interview and Select in the Recruit section; and Offer, Onboarding and New Hire in the Hire section. Within each of these subsections the data and analysis (and case studies), are all organized with the following structure:

  • What It Is
  • What Candidates Want
  • What Employers Are Doing
  • Key Recommendations: What CandE Award Winners Do Better

This structure makes reading the analysis and report easy. Although 114 pages long, it’s easy to work through the material because of its organization. You won’t probably read this in one sitting, but its structure makes it easy to come back and continue reading.

Case studies include organizations like Capital One, CH2M, Delta Airlines, GE, Informatica, and several others. This is good stuff, folks. It shows how leading organizations are thinking about and executing on their need for talent in new and highly impactful ways. Charts abound and they are easy to read and understand, and easy to translate into new approaches and actions in your organization.

Perhaps the simplest graphs that create the case for attending to the candidate experience are these:

cande-report-2016

They create the critical business case for investing in the experience of your employment candidates – just as you would invest in the experience of your employees or customers. Pretty simple stuff. Simple, and hard to execute. The beauty of this report – and the attending webinars, awards, and activities – is that the data and analysis show clearly what strategies are working and what the impact of those strategies are in an increasingly critical market demographic:  your potential employees.

If you aren’t familiar with “candidate experience,” read this report. If you are familiar with “candidate experience,” get involved. The resources provided through Talent Board are extensive. Attending to the experience of your candidates could make the difference in your talent acquisition strategies and plans. And your ability to deliver the foundation for your organization’s growth:  the right people with the right skills at the right time.

 

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Filed under Candidate Experience, CareerXroads, China Gorman, Data Point Tuesday, Demographics, Ed Newman, Elaine Orler, Employer Branding, Gerry Crispin, HR Analytics, HR Data, HR Trends, Selection, Talent Acquisition

Zombie HR

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The Future of Work, a new report from the SHRM Foundation, is a quick study on, well, the future of work.

Everyone talks about the future of work like it’s the next scary thing coming for us after the zombies have left. And that may be true (well, not the zombie part), so this short report can help you frame what you should be concerned about.

Working with the Economist Intelligence Unit, the SHRM Foundation identified 5 trends that their research shows are impacting the world of work:

  1. Demographic shifts
  2. Loss of middle-skilled jobs
  3. Skills gap: disconnect between educational standards and organizational demand
  4. Eroding physical barriers and increased globalization
  5. New models of work: crowdsourcing

Taken individually, none of these trends are surprising, right? But taken together, they create a set of concerns that keep most C-suite leaders, as well as their HR colleagues, up at night.

I believe that the most impactful of the five trends is number 3:  the skills gap. The growing disconnect between employer skills needs and output from the global education system is already impacting small, medium, and large employers everywhere in the world. The other four trends just make things even more challenging.

Take a look at the report. It’s a quick read and will put the whole “future of work” discussion into a helpful context.

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Filed under China Gorman, Data Point Tuesday, Demographics, Economist Intelligence Unit, Future of Work, HR Trends, Randstad, SHRM Foundation

HR Is NOT a 47 Year Old White Woman!

This was originally published in October of 2012. I think it’s still relevant. And I’m on vacation.

Last year the folks at HRxAnalysts published a fascinating psychometric report about HR.  Who works in HR; what’s the education level of HR professionals; do they get certifications; do they go to industry trade shows; what industry publications do they read; do they like to be wined and dined. It is a fascinating read. The title of the report is What HR Thinks and Feels: The 2011 HRxAnalysts Psychographic Survey of HR Professionals; The Demographics, Behaviors, Attitudes and Beliefs of HR Professionals

Without being overly simplistic, the bottoms line is that the average HR professional is a 47 year old white woman with a college degree, two kids, pretty middle-of-the-road politically who isn’t into team sports and likes music.

It’s good and useful information – especially if you want to sell stuff to HR.

However, based on a new survey published in Human Resource Executive, the title really should have been HR is a 47 Year Old White Woman – Unless They’re the CHRO of a Major Employer.

In the September 16, 2012 edition of the magazine, on line here, the editors published the yearly list of HR’s Elite:  the 50 highest paid HR executives “culled from a universe of about 227 former and current HR executives at Russell 3000 companies who were among the five most highly compensated officers in their companies and were, therefore, included in those organizations’ filings.”

Ten of the 50 top compensated CHROs were women.  Ten.  That’s 20%.  And that’s down from 43% in 2011.  Now I’m not assuming that only 20% of all large employers have female CHROs – HRE says its 43% of the nation’s 100 largest employers – but that’s not as high as the 67% as the HRxAnalyst research highlights. Not even close.  And I’m pretty sure that the reason more female CHROs don’t show up in the top 50 highest paid HR executives is the still prevalent truth that in general men still make more than women.

The concern to me is that if it is true, as HRxAnalysts published, that 67% of all HR professionals are women, then why aren’t more of them moving into the top job? The hard question is that if 55% of HR Managers are female, and 64% of HR Directors are female, and 69% of HR Vice Presidents are female, then why, practically speaking, are we not seeing those percentages hold true in the top HR jobs?

I get it:  HR is a 47 year old white woman.  Unless we’re talking the CHRO job.  Then, HR is a guy.  Interesting, huh?

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Filed under China Gorman, Connecting Dots, Demographics, HR, HR Executive Magazine, HRxAnalysts

Skills?

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I’m traveling this week and am sharing one of my most popular posts from 2013. Might be worth a re-visit!

Skills shortages in 2020 will rise to an entirely new level. And I’m not talking about STEM skills, although they’re critical. Or the ability to speak multiple parched earthlanguages, which needs to be more common in the U.S. Or even the readiness of college graduates to take a place in the economy, which a majority of employers report is lacking.

I’m talking about the skills that the globally-connected, superstructured, computationally focused, smart-machine powered organizations of the future staffed by longer living and working, new media using employees will require.

We’re all thinking about that right? We’re re-writing job descriptions and re-wording job postings to incorporate the emerging skills we know we’ll need. Aren’t we? Well, maybe not. We know the names of the skills we can’t get today – those STEM, analytical thinking, communication and personal responsibility/accountability skills we’re sure our young people don’t have.

But really. What about the skills for the future?  I’m not sure what we’ll call those skills. I’m not even sure they’re skills, to be honest, but here’s what I do know:

  • People are living longer and will want/need to have longer careers
  • Smart machines are taking over the most routine workplace tasks
  • Data – big, medium and small – are changing the way decisions are being made at every organizational level
  • Text isn’t the only way we communicate any more
  • Organization structures and behaviors are changing due to social technologies
  • We say “Global” but what that really mean is that innovation and growth will be primarily driven through the integration of differing cultural norms and diversity

IFTF LogoThe Institute for the Future’s Future Work Skills 2020 highlights recent research that predicts the kinds of skills for which we’ll be recruiting in 2020 (which is only 6 and-a-half years away). Trust me when I write that the majority of HR/recruiting professionals are not ready for this. ATSs aren’t ready for this. LinkedIn, Facebook and Twitter aren’t ready for this. And clearly, our education infrastructure isn’t ready for this. And yet, here we are.

The IFTF identifies and defines ten skills that we need to begin to teach now so we can deploy them in six-and-a-half-years.  They are:

  1. Sense-making:  the ability to determine the deeper meaning or significance of what is being expressed
  2. Social Intelligence:  the ability to connect to others in a deep and direct way, to sense and stimulate reactions and desired interactions
  3. Novel & Adaptive Thinking:  proficiency at thinking and coming up with solutions and responses beyond that which is rote or rule-based
  4. Cross-cultural Competency:  ability to operate in different cultural settings
  5. Computational Thinking:  the ability to translate vast amounts of data into abstract concepts and to understand data-based reasoning
  6. New-media Literacy:  the ability to critically assess and develop content that uses new media forms, and to leverage these media for persuasive communication
  7. Transdisciplinarity:  literacy in and ability to understand concepts across multiple disciplines
  8. Design Mindset:  the ability to represent and develop tasks and work processes for desired outcomes
  9. Cognitive Load Management:  the ability to discriminate and filter information for importance, and to understand how to maximize cognitive functioning using a variety of tools and techniques
  10. 10.   Virtual Collaboration:  the ability to work productively, drive engagement, and demonstrate presence as a member of a virtual teaSocial intelligence (we call it EQ today, I think) and Cross-cultural Competency are certainly emerging in more sophisticated and global organizations currently. Perhaps we have a leg up with these two.

But have you ever seen a job description requiring Transdisciplinarity and a Design Mindset?

What kind of behavioral interview questions would you use to determine if a candidate has Cognitive Load Management and Novel/Adaptive Thinking Skills?

How would you Tweet those jobs? How would your careers page change?

And once onboard, how would you manage the performance of employees’ Virtual Collaboration and Sense-making?

And speaking of job descriptions and performance management, how will New-media Literacy and Social Intelligence change the very nature of these processes?

Whew! We think the current skills shortage is frustrating and scary. It could be that the future skills shortage will upend everything!

 

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Filed under China Gorman, Data Point Tuesday, Demographics, Institute for the Future, Skills Shortage

From the Archives: We can’t succeed without Millennials

This was a very popular post from April, 2012. The data is pretty much the same. And it bears repeating.

Managers and supervisors (especially in the Baby Boomer cohort) in almost every type and size of business have been known to lament the lack of loyalty and so-called business savvy in the Millennial generation.

  • “They want to be promoted too fast!”
  • “They don’t want to pay their dues!”
  • “They don’t understand how things work!”
  • “They want too much flexibility!”
  • “When things don’t go their way they quit!”
  • “Why won’t they stay?”

The bottom line is that organizations are finding it challenging to keep Millennials engaged and on the payroll.  In fact, with the average employment tenure of workers in the 20-24 year -old age group at 1.5 years (per the BLS), it’s challenging to keep all our employees engaged and the on the payroll.  (See my previous post on the Quits vs. Layoffs gap.  It might not be what you think!)

Achievers and Experience Inc. fielded their annual survey of graduating college students in January.  The data are eye opening.

Despite what we think we know about them, the vast majority of these about-to-enter-the-workforce Milllennials would really like to stay with their next (in most cases, first) employer for 5 years or longer!  Wait.  What?  Look at the chart below:

47% of the 8,000 college graduating respondents in the Achievers/Experience Inc. survey indicated that they expected to stay with their next employer five years or longer.  Note the language:  expect to stay not would like to stay!  That means when they join our organizations they have every expectation of making a career with us.  They’re not just accepting a job.  They’ve evaluated our EVP (Employer Value Proposition) as a match for the meaning they want to create in their lives through their work.  (Interesting to note that the biggest percentage of respondents expect to stay with their employer for 10+ years!)

So, OK.  This has got to be their youthful exuberance and relative inexperience speaking, right?  Well, I wonder if that really matters.

Employers need these Millennials.  Employers need these Millennials now.  Employers will need these Millennials more every day.  (See my recent post here.)

And employers need them to stay a whole lot longer than 1.5 years!

So what happens between “I expect to stay with my employer for 10 or more years…” and “…after one year with the organization I’m leaving for a better opportunity”?  I think we all know that answer to that question.

We don’t live up to the EVP we sold them.  We don’t engage Millennials the way they tell us they want to be engaged.  Instead, we…

  • make sure they fit into our existing career paths and job descriptions
  • focus on making sure they “pay their dues” – the way we did
  • keep our processes and rules rigid and unbending – and only pretend to listen when they offer up “different” ways of working
  • resist the notion that work can be done with excellence anywhere but in a cubicle
  • make it difficult for Millennials to interact with senior leaders
  • make it difficult for Millennials to collaborate with colleagues
  • designate social responsibility activities a perk instead of a foundational value
  • try to “lure” them to stay with tenure-based plaques and timepieces

These data are a wake-up call for employers.  It’s a message from our talent pipeline that they really do want to engage with us; they believe our employer brand marketing messages; they want to learn and grow with us.

It’s time to listen harder and make sure our employer brand messages aren’t experienced as bait and switch tactics.

I don’t know about you, but I’d hate for the Millennials to have such negative employment experiences at the beginning of their careers that they opt out of organizational life altogether before they’re 30.  We’d really be in a pickle then!

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Filed under Achievers, Baby Boomers, Bureau of Labor Statistics, Business Success, China Gorman, Demographics, Employment Data, Engagement, Millennials, Rewards & Recognition, Student Job Search, Talent pipeline, U.S. Department of Labor