workforce 2020...prepare, plan, optimize and win
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The Workforce 2020Giancarlo DavilaStrategic Advisor, HR Line of Business
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Global 27-country twin surveys5,400 People; 2,700 executives and 2,700 employeesconducted by Oxford Economics
Oxford Economics, The 2020 Workforce, 2014
SuccessFactors An SAP Company
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Five research finding themes
The new face of work
A Millennial misunderstanding
What matters most
The leadership cliff
The learning mandate
1
2
3
4
5SuccessFactors An SAP Company
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The new face of work
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83%
Executives say they are increasingly using contingent, intermittent, or consultant employees, which will require them to:
Change compensation plans
Conduct more training
Invest more in HR technology
The 2020 workforce will be increasingly flexible
SuccessFactors An SAP Company
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Difficulty recruiting specialized employees
Increasing number of consultant employees
Changing work models (e.g., telecommuting, flex time)
Aging workforce
Employee expectations are changing
Increasing number of contingent employees*
Increasing number of intermittent/seasonal employees
Difficulty recruiting employees with base-level skills
Millennials entering the workforce
Globalization of labor supply
32%
39%
40%
41%
41%
42%
43%
48%
51%
51%
Labor shifts executives are most concerned about
Globalization of labor supply
Millennials entering the workforce
Difficulty recruiting employees with base-level skills
Increasing number of intermittent/seasonal employees
Increasing number of contingent employees*
Employee expectations are changing
Aging workforce
Changing work models(e.g., telecommuting, flex time)
Increasing number of consultant employees
Difficulty recruiting specialized employees
SuccessFactors An SAP Company
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The top impediments to making progress are:
1. Lack of employee longevity/loyalty
2. Lack of adequate leadership
3. Lack of adequate technology
4. Lack of skilled talent
34%
Good
Companies are not making progress toward meeting workforce goals
47%
Moderate
19%
Slight
SuccessFactors An SAP Company
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Have ample data to understand strengths and potential vulnerabilities
Use quantifiable metrics and benchmarking as part of workforce development strategy
39% 38%
Know how to extract meaningful insights from the data available to them
42%
A lack of metrics and tools holds HR back
SuccessFactors An SAP Company
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A millennial misunderstanding
SuccessFactors An SAP Company
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Millennials are not as different as we think
Almost everyone wants training and
development
Compensationis the most
important factorEven
retirement plans are onlyslightly more important to
non-Millennials
Their top priorities
are the same as non-
Millennials
SuccessFactors An SAP Company
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Millennials care more about making a positive difference in the world
Importance to job satisfactionMyth or truth?
21% 20%
Millennials
29% 31%
Millennials
32% 10%
Income
Learning & growing is more important to Millennials than meeting income goals
Achieving work/life balance is more important to Millennials
Non
Non
Learning
01
03
02
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Millennials want feedback
50% more often than non-Millennials
Millennials do need to be managed differently in terms of feedback and development
SuccessFactors An SAP Company
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What matters most at work
SuccessFactors An SAP Company
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When it comes to satisfied employees, compensation matters – a lot
Education
Flexible schedule
Benefit plans
Vacation time
Flexible work location
Supplemental training
Retirement plans
Bonuses/merit pay
Competitive compensation
0% 10% 20% 30% 40% 50% 60% 70%
Employees who wantEmployers who offer
SuccessFactors An SAP Company
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Executives value loyalty more than job performance
1. High level of education2. Loyalty & long-term commitment3. Ability to learn4. Diverse background5. Interest in the wider business6. Self-directed learner7. Willingness to let others lead8. Substantial field experience9. Leadership ability
10. Job performance & results
What executivesvalue as top
employee attributes
123456789
10
What employees think employers
want
4216789
108
3
SuccessFactors An SAP Company
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The leadership cliff
SuccessFactors An SAP Company
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Gaps in leadership capabilities spell trouble for future growth
Have the skills to manage talent
Executives cite a lack of adequate leadership as the number two impediment to building a workforce to meet future business objectives.
52%
Are prepared to lead a global workforce
Know how to inspire employees
Can lead a diverse workforce
Are able to drive change
51%
47%
44%
34%SuccessFactors An SAP Company
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Most companies are not cultivating leadership within their organizations
40%
Employees who say it is easy for them to collaborate
37%
Employees who agree their company is committed to diversity
19% 31%
Executives who picked leadership as a top 3 attribute
Employees who expect more feedback than they get now
SuccessFactors An SAP Company
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The development mandate
SuccessFactors An SAP Company
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For employees, obsolescence is a bigger concern than layoffs
Layoffs
Economic uncertainty
Technology changes
Wage stagnation
Inadequate staffing
Not enough advancement opportunities
Position changing or becoming obsolete
18%
19%
19%
27%
31%
35%
40%Position changing or becoming obsolete
Not enough advancement opportunities
Inadequate staffing
Wage stagnation
Technology changes
Economic uncertainty
Layoffs
SuccessFactors An SAP Company
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Employees aren’t prepared for the future
50% 34%
The skills they have now will be what’s needed in 3 years
Their company is able to give them the training they need
SuccessFactors An SAP Company
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Organizations struggle to develop a learning culture
51%
Has a culture of continuous learning
47% Is capable of retaining and sharing institutional knowledge
52%
47%
41%
52%
43%
45%
Has a formal mentoring program
Offers incentives for pursuing further education
Employees say their company…
Executives say their company…
SuccessFactors An SAP Company
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Companies need to provide employees with a path and develop skills for the future
23
51%We are more
merit-driven than tenure-driven 43%
When a senior person leaves we tend to fill the role
from within the organization
37%Long-term loyalty
and retention is an important partof our talent
strategy
31%We plan for
succession andcontinuity in
key roles
SuccessFactors An SAP Company
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01
03
02
Development of employees and leaders will become the new employer differentiator
• Learning• Succession planning• Feedback
It may be time to rethink our compensation strategies
HR should continue to push toward boardroom strategy setting
We must prepare for a more diverse, flexible, and contingent workforce
Key Takeaways
04SuccessFactors An SAP Company
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For more information, go towww.successfactors/workforce2020.com
Questions?Giancarlo [email protected]