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Sustainable Growth in VUCA times

Shaping The New Talent Agenda

Sankalp Sharma

Change is everywhere

RecessionTechnology

Changing Environment

Innovation

Rising

Terrorism

Unstable

Governments

Consumer Demands

OnlineRetailSocial Media

Regulations

De-Regulations

Connectivity

Younger

Workforce

Emerging

EconomiesVirtual World

VUCA

Consumer is becoming more technology savvy resulting in rise of e-commerce industry

In 2013, mobile payments totaled 235.4 b$ worldwide Expected to increase by 38 % in 2014

89 % of customers said it is important for retailers to allow them to shop in the way that is most convenient for them

World Bank report estimates:

Of the 7,000 new large companies that are expected to develop by 2025, seven out of ten will be in emerging regions

More than 45% of the Fortune Global 500 could be based in emerging regions (up from 5% in 1990 and 17% in 2010)

Power is shifting to emerging markets esp China & India

IMF report estimates:

Maximum addition to workforce will happen in India followed by China over the next decade

Working age population in India will rise faster than China

The current generation in India entering the workforce is:• More independent• Aware of global opportunities• Focus on short-term goals • Seeks international roles early in career

New workforce is becoming more demanding and less equipped to meet business needs

Skill gapOnly 21% of MBAs in India are employable - Merit Trac 2012 report

Expectations CISCO Connected World Technology Report1. 60% of workers are globally mobile for

jobs2. Workers value workplace flexibility very

high (second only to salary)

24X7 connectedWorkers nowadays are connected 24X7 , mobile penetration & social networking has blurred the lines between professional & personal space

Ease of technologyNeed for instant access to information & need to be connected anytime anywhereNeed for convenience at fingertips

Despite rising workforce India’s top 500 companies will experience significant leadership shortfall

Source: Booz & Co.

88% of top Indian companies cited gaps in leadership as top challenge - Harvard

48% cos. have difficulty finding qualified candidates for senior positions – Manpower

By 2017, 18% of leadership positions will be unfilled – Booz & Co.

Leadership skills needed for future

Creating a compelling vision

for the organization

Driving engagement across levels

Translating customer insights

to business solutions

Identifying & developing talent

Leaders Adaptability & Agility to embrace the “New” will act as a key differentiator !

Leading Change

Ability to leverage technology will be a pre-requisite for any leader

In VUCA times, talent will be defined by

• Entrepreneurial spirit & mindset– Risk taking – Vision & foresight

• Ability to predict, manage and probably lead change – Ability to plan for different scenarios

• High learning agility– Ability to learn new skills quickly– Apply them on the job

• Great Collaborators & influencers

• High action bias

• Ability to perform under all circumstances

Decentralized & flatter organizations will drive growth

• Empowered teams at the ground for quick decisions & faster turn around

• Top Management more connected to the ground realities & customer needs

• Top Management more aware & connected to front line employees

• Less vertical & more horizontal moves to develop T-shaped careers

• Cross functional knowledge & teams will speed up response to change

Organizations need to be lean & agile to master change

These VUCA times will need the HR function to change

From To

• Process & Operational Expert

• Survivor of change

• Focus on Cost reduction

• Training

• Engaging through careers

• Adopter of Technology

• Emotional decision making

• Talent Consultant & Advisor

• Catalyst for change

• Retention and engagement

• Continuous learning

• Engaging through experiences

• Pioneer of Technology

• Use data & analytics for decision making & forecasting talent needs

And redefine the Talent game

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Talent Acquisition

- Leverage technology -Break the conventional boundaries - Build global networks for sourcing talent - Hire agile & adaptable talent

Leadership Development

- Early identification - Horizontal Learning- Global Leaders for local markets - Early exposure to big roles

Virtual Talent Collaboration

-Digitized world-Global Connect-Cross Cultural exposure

Build agile and adaptable workplaces that thrive in times of change

Talent development & Career Planning will be driven through

Providing Critical Experiences early on through: 1. Action Learning Projects2. Stretch Assignment3. Cross functional moves 4. Manager as career coaches

Building skills to be better prepared for change & globally connected world:

1. Scenario Planning 2. Predictive Analysis 3. Cross Cultural awareness

Focus on programs that foster

1. Employee creativity and innovation2. Collaboration and communication3. Change Management

Career planning should focus on

1. Developing breadth of skills 2. Horizontal career moves 3. Providing critical experiences early on 4. Peer Learning

HR needs to leverage the SMAC opportunity & use gamification to engage & develop talent

As per AberdeenOrganizations with gamification in place improve engagement by 48% and improve turnover by 36%

As per Gartner by 2015More than 50 percent of organizations will gamify innovation processesMore than 70 percent of Global 2000 organizations will have at least one gamified application

HR can leverage the power of gamification in

Talent Acquisition & Onboarding

Engagement Rewards & Recognition

Training & Development

• Knack gauges cognitive skills such as pattern recognition, risk aversion, EI (emotional intelligence)

• Hays deploys them to hire recruiters

• Marriott Hotels uses it for hiring decisions & on-boarding

• Use online contests & games for health & well being, health walking competitions, weight loss competition, etc

• Give employees ease of use through mobile platforms for anywhere anytime useage

• SAP uses games to educate its employees on sustainability

• Unilever applies them to training

• Deloitte Leadership Academy (which has trained 10K+ executives from 150+ countries) delivers learning gamification through Badgeville

• Reward top recruiters through gamification

• Referrer of the year• Reward for cross functional

collaboration

Organizations are adapting to new realities of technology savvy & diverse workforce needs

Microsoft • Defines strategy as “Mobile First Cloud

First”• Yammer – internal social platform for

employee connect & virtual collaboration

BYOD (Bring Your Own Device) Companies promoting BYOD policy see an increase in employee productivity

American Express Its Blue Work Program on workplace flexibility boosted employee productivity & saved real estate cost upto 15m$ annually

Aetna Its workforce flexibility program led to increased productivity & annual real estate savings of 75m$

Goldman Sachs Launched Cultural Dojo program in 2009 focused on cross cultural training of its employees to increase global collaboration

Tata MotorsThey have flexible Employee Value Proposition for their different employee groups in different markets it operates in

Starwood Hotels Moved its Headquarters to China for a month to be closer to growth markets, making top management more aware of opportunities & challenges in growth markets

Causecast It provides technological solutions to organization to connect companies and their employees with the social causes they care about

It is not the strongest or the most intelligent who will survive but those who can best manage change. --Charles Darwin