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

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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.)

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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

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What’s Your Digital ROI?

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The age of digital disruption is here, and no company is immune.

Leaders who believe their companies can afford to be cautious in their digitization overhaul should think again. While they may be moving slowly and carefully, competitors are moving at great speed. Still, companies can’t afford to hastily throw resources into strategies that won’t work.

So what’s a company to do?

That’s where the digital ROI framework comes in.

Digital ROI allows companies to gauge how well investments are paying off throughout a firm’s entire ecosystem during a digital transformation.

It reveals whether companies should pause and reset if necessary or push harder for strategies that are working.

The digital ROI framework balances digital investments in several focus areas.

Each focus area is then associated with specific performance indicators. In this way, the framework can provide the holistic view companies need to ensure an organized and effective digital transformation while adhering to broader strategic goals.

Key to the framework is taking frequent measurements of what is working and what isn’t, how much time those actions are taking, and whether they are boosting revenues and cutting costs.

This allows companies to track and calculate the impact of their digital initiatives more accurately, retool when necessary, and make teams accountable for their roles. The exhibit below shows how a company’s digital ROI framework might look.

For most companies, regardless of size, industry or geography, digital investment can be broken down into six strategic focus areas:

customers,

employees,

operations,

safety and soundness,

infrastructure,

and disruption and innovation.

Each focus area is assigned a goal (or goals) that works toward the desired digital transformation, and each goal is given specific performance indicators and a timeframe to hit that mark.

Many of the metrics will be quantitative, but they should be balanced with softer, more qualitative judgments of progress. Both kinds of metrics must be appropriate to the company’s industry and geography and aligned to its overall strategy.

And they must be made a part of every employee’s individual performance objectives in order to drive the change required.

 

Read all at the source https://www.strategy-business.com/blog/Whats-Your-Digital-ROI?gko=93f7b

My point of view: It’s not only about organizations. It is also relevant for professions, professionals and persons to wonder what’s your digital ROI.

Still Looking Ahead? Glassdoor Economic Research: 5 #Jobs #Trends to Watch in 2017 #hr

America’s labor market in 2016 was one of the healthiest in a generation, with rising pay, record numbers of unfilled jobs and historically low unemployment.

However, it’s also a time of great uncertainty, with technology and automation changing the way we work forever.

At Glassdoor, our economic research group has a unique perspective on the labor market, with access to millions of real-time job listings, salaries and company reviews that help us keep a pulse on what’s happening today in hiring, pay and the broader labor market.

In this study, we highlight five big labor market trends our experts saw unfolding during 2016, and five big changes in the job market they predict will reshape work and hiring in 2017 and beyond, including:

  1. Why every employer is hiring tech roles.
  2. Pay gains finally showing up for America’s workers.
  3. Why employers are struggling to hire key roles.
  4. How HR is being transformed by data science.
  5. Automating and the changing workplace.
  6. Rethinking flashy perks and benefits.
  7. A growing push for pay transparency from the federal government.
  8. Finally making progress on America’s gender pay gap.
  9. Realizing the limits of the “gig economy.”

Read all: Looking Ahead: 5 Jobs Trends to Watch in 2017 – Glassdoor Economic Research

InSites Consulting: Millennials at Work

Millennials (born 1980-1996) are entering the workplace in increasing numbers.

Estimations say that four years from now, Millennials will make up 50% of the global workforce. Raised differently and in different times, Millennials are not like the previous generations, both in their attitude and in their approach towards work.

The Millennials at Work paper will show you how to optimally capitalize on the Millennials’ talents and maximize their impact on business performance.

Discover how & why Millennials are different and how companies can adapt their HR approach to become Millennial-proof.

Get your download of Millennials at Work paper via marketing@insites-consulting.com for a better understanding of Gen Y’s needs to build a future-proof HR strategy