Fast Company: The War For Talent Is Over, And Everyone Lost |

Two decades ago, McKinsey researchers saw a “war for talent” brewing. Looking at current trends, two experts see no victors.

This story reflects the views of these authors, but not necessarily the editorial position of Fast Company.

In 1998, after a year-long study on the subject, McKinsey researchers declared that a “war for talent” was underway. In the years ahead, they said, organizations’ future success would depend on how well they could attract, develop, and retain talented employees–an ever more valuable asset in ever higher demand.Instead of winning a war for talent, organizations appear to be waging a war on talent, repelling and alienating employees more successfully than harnessing their skills.Today, in a world full of many more Chief People and Chief Happiness Officers, that war nevertheless appears to have been lost on all sides. Of course, many workers excel in their jobs and make pivotal contributions to their organizations. But for every one employee who does, there are many more who are underemployed, underperforming, and just plain miserable at work.

What went wrong?

THE RISE OF PASSIVE JOBSEEKERS

More people than ever are dissatisfied with their current ones enough to consider other opportunities. Over the past few years, LinkedIn has estimated that figure at anywhere between 45% and 60% of its more than 400 million users. Some recruiters believe these so-called “passive jobseekers” now comprise up to 75% of the overall workforce. Just imagine if three out of four people in long-term relationships were still holding out for a better option to come along.

Read all: The War For Talent Is Over, And Everyone Lost | Fast Company

Advertisements

Twelve Forces That Will Radically Change How Organizations Work: The New New Way of Working

A tidal wave of change is coming that will soon make the way we work almost unrecognizable to today’s business leaders. In an age of rapidly evolving technologies, business models, demographics, and even workplace attitudes—all shifting concurrently—change is not only constant but also exponential in its pace and scope. Companies from startups and online businesses to incumbents in all industries will experience the effects in far-reaching and transformational ways.During a comprehensive, yearlong analysis of the global work landscape, The Boston Consulting Group identified 60 major trends propelling this tidal wave, which we’ve grouped into 12 primary forces. These forces, or megatrends, fall into four categories. The first two address changes in the demand for talent: technological and digital productivity and shifts in ways of generating business value. The second two address changes in the supply of talent: shifts in resource distribution and changing workforce cultures and values. (See Exhibit 1. For a list of all 60 trends, see the Appendix.)

Twelve-Forces_ex01_tcm-149292.jpg

Together, these forces will revolutionize the way that work gets done in companies and will compel leaders to rethink even the most basic assumptions about how their organizations function. They will need to discover new ways of organizing, performing, and leading, along with new approaches to recruiting, developing, and engaging employees. All this in organizations with limitless data, open boundaries, employees and machines working side by side, and rapidly evolving employee value propositions.BCG has assessed the impact of these megatrends on organizations. In this report, the first in the New New Way of Working series, we identify several companies that are leading the way. Yet most organizations still have far to go.CHANGES IN THE DEMAND FOR TALENTSix of the forces we identified are having a profound effect on the demand for talent. (See Exhibit 2.) We categorize them into two groups:Technological and digital productivity: automation, big data and advanced analytics, and access to information and ideasShifts in ways of generating business value: simplicity in complexity, agility and innovation, and new customer strategies Technological and Digital ProductivityThe three trends in the realm of technological and digital productivity are arguably creating the most significant

Twelve-Forces_ex02_tcm-149293.jpgchanges worldwide. Enabling advances deemed unlikely even a decade ago, they are transforming the world of work in unprecedented ways. Automation is replacing jobs; big data and advanced analytics are unlocking vast customer, operational, and employee insights; and increased access to information and ideas is blurring the boundaries of traditional institutions.

Read all: Twelve Forces That Will Radically Change How Organizations Work: The New New Way of Working

Twelve-Forces_ex03_tcm-149296.jpg

From interest to adoption of cognitive technology | Deloitte University Press

When it comes to adoption of cognitive technology, some of the leading companies are progressing rapidly from the pilot project phase to the production application phase. Those on the sidelines would do well to move from interest to adoption of this impressive group of technologies.

Introduction

While cognitive computing, often referred to as artificial intelligence (AI), is hardly new, the recent level of interest in it is astounding. The combination of vendor marketing, concerns about job losses, and even discussion of “robot overlords” have prompted massive interest in the media. There is also plenty of substance behind the hype. Cognitive technologies offer the possibility of increased productivity, better knowledge-based interactions with customers, and the ability to solve problems that are too complex for human brains.

Read : From interest to adoption of cognitive technology | Deloitte University Press

A widening digital divide

 

There’s a continuing digital disconnect in corporate marketing departments—and a widening digital divide as well.

CMOs and others with marketing responsibility should take note.

Many companies have refocused their marketing functions on a digital or an omnichannel approach. But too many appear to be spending more on digital without building up the capabilities that produce bang for the digital buck.

In late 2016, in collaboration with Google Digital Academy, BCG surveyed some 2,200 marketers at 141 advertisers, and 2,900 employees at 126 advertising agencies, on their organizations’ digital-marketing capabilities and learning and development efforts. below.)

The results were surprising—and not in a positive sense.