winning the war for talent - precast...
TRANSCRIPT
The Precast Show 2018
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WINNING THE WAR FOR TALENT
Steve Coughran, Coltivar Group LLC.
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The War on Talent: A Growing Concern
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With stagnant or decreasing productivity and an aging industry
workforce, companies must act to remain viable.
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Nearly three million job openings due to baby-boomer
retirement will be available by 2025.
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-0.2
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1.0
1.2
1.4
1.6
1.8
90-'94 95-'99 00-'04 05-'09 10-'14 15-'19 20-'24 25-'29
As the contribution to working age population growth slides, industries will struggle to replace workers
Natural Growth Net International Migration
Source: BLS, Moody Analytics
(5 Year
average)
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The labor shortage will evoke a war on talent.
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1.2 1.2 1.1 1.0 1.0 0.9 0.8
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50-'59 60-'69 70-'79 80-'89 90-'99 00-'09 10-'19 20-'29 30-'39 40-50
Annual population and labor force growth rates by decade
Labor force growth rate Population growth rate
Source: BLS
(Percent of growth)
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The victors of this war will be
innovative companies with a
strategy for attracting new talent.
The Precast Show 2018
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Source: Washington Post
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Millennials are the largest generation in the U.S. representing
roughly one-third of the total U.S. population.
1 5 9 13 17 21 25 29 33 37 41 45 49 53 57 61 65 69 73
U.S. Population Distribution by Age, 2013
Source: Census Bureau
Millions
Age
Homeland
Generation
(2005-Present)
Millennials
(1980-
2004)
Generation X
(1965-1980)Baby
Boomers
(1946-1964)
Silent
Generation
(1928-1945)
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As the workforce becomes more educated, job preferences will
continue to shift.
0%
10%
20%
30%
40%
50%
1992 1996 2000 2004 2008 2012 2016
People Ages 25 to 34 By Education Attainment
No Degree Degree
Percent
Source: Current Population Survey; CEA Calculations
The average millennial views manufacturing jobs
as “dreadful, dirty, and dangerous dead ends.”
FACT
Source: Article by Jeff Koeppel in MyStateman
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The future of manufacturing requires
unprecedented levels of tech savviness and
strategic thinking.
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Manufacturing can lure millennials through well-paid jobs where
skills are learned through apprenticeships, avoiding college debt
and allowing them to live outside expensive cities.
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Instill a Strategic Culture
Photo by Ant Rozetsky
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By designing and implementing a holistic strategy, companies
will deliver and capture greater value.
Vision and Mission
Statements“We want to change the world”
Company
Values“Innovation, collaboration, excellence”
Short Term
Objectives“Increase profits by 10% from last year”
Purpose
Statement“Be number 1 or 2 in every market in which
we compete, or get out”
Strategic StatementsLow More
High
Degree of Meaningfulness
Degree of
Measurability
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Conviction behind the cause is a powerful force that drives
purpose and enables mankind to accomplish the impossible.
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Employees need to feel connected to their jobs through an
inspiring purpose and a clear strategy.
Source: Monitoring the Future, 1976-2001; CEA calculations
0%
20%
40%
60%
80%
100%
Time for recreation Contribution to society Children better off Live close to friends andfamily
Find new ways toexperience things
Percent Reporting Life Goals as Being "Quite or Extremely Important"
Baby Boomers Generation X Millennials
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Invest in Employee Development
Photo by Ant Rozetsky
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The US is not the world leader on prioritizing employee training.
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Leadership Skills People Skills
Technical Skills Business Skills
03 04
01 02
Why training fails and what can we do about it?
Neocortex vs. Limbic System1
Applications based vs. principles based2
Challenging employees3
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Developing strategic, innovative employees will empower front
line decision makes and grow company values.
Litt
le “
r’s” B
ig “R’s”
Wal
ls o
f C
ult
ure
Walls o
f Cu
lture
UniqueProcesses &
PrioritiesTo Solve
Problems
Zone of Freedom
Leadership structures dictate the authority managers have to
engage in thinking activities to achieve results within agreed upon
boundaries
Interdependent
Dependent
Independent
Command and control
Individuals operate in siloes
Mutual inquiry and team
collaboration
Power and decision making is distributed
differently among leadership structures
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Build Apprenticeship Models
Photo by Ant Rozetsky
3
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In order to get people to stay, we need to understand why
people leave.
Why do people leave their jobs?
Career or Promotional Opportunties Pay/Benefits
Lack of Fit Management or Work Environment
Flexibility/Scheduling Job Security
75% of the reasons people leave are controllable
through management. Gallup Poll 2017
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If we succeed in the “5 million apprenticeship challenge,” we
would boost opportunities a hundredfold.
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To effectively implement these strategies, companies must retool the talent pool
Considerations
Culture: What is your current culture and how can you become strategic?
Employee Development: How does your company develop current and future employees?
Apprenticeship Models: What innovative programs do you have in place the will
develop strategic and technological capabilities?
Begin with Where You Are Now: What are you doing to lift others?
The Precast Show 2018
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Help others along the way
Ph
oto
by:
Ed
ewaa
Fost
er
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Want more?Related Coltivar Institute Resources:Related Coltivar Academy Classes:
Connect on LinkedIn
Steve CoughranColtivar GroupEmail: [email protected]
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