transformation of talent management

8/14/2019 transformation of talent management

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Transformation of TalentTransformation of Talent

ManagementManagement

Abbas - Zeeshan - Imran


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Think Recession!Think Recession!

Companies around the globe working to Get by with less.Short Sizing / Right Sizing

Pay cuts

No incentives

No more War for Talent.


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Survey Global Talent CompetitionSurvey Global Talent Competition

Hidden Brain Drain 50 Multinational companies.

Booz Allen Hamilton, Ernst & Young, Time Warner, UBS.

3278, employed college graduates (June 2008) 1046, out of original sample (January 2009)

Baby Boomers 1946 1964 Generation X 1965 1977

Generation Y 1978 1994

Work aspiration of high-echelon talent across age groups and sectors.


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Generation Y and boomers require similar

mix of rewards in the workplace.Flexible work arrangement.

Opportunity to give back to society

Reward remix is both challenging and

liberating for Talent Managers.

Survey Global Talent CompetitionSurvey Global Talent Competition


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Portrait of Gen YPortrait of Gen YFive Facets of their inner workingFive Facets of their inner working

84%: profess to be very Ambitious.

45%: expect to workfor their current employer for

the entire life. 78%: are comfortable working in intercultural

environment.

86%: its important that theirworkmake apositiveimpact on the world.

48%:Networking is important.


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Portrait of Baby BoomersPortrait of Baby BoomersFive Facets of their inner workingFive Facets of their inner working

42%: Project continuing afterage 65.

47%: being middle of their careers

55%: members ofexternal volunteernetwork

87%: working flexible is important

71%: have elder care responsibilities


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All About a Wider PurposePeople like to give back to the world.

Fresh Graduates like to work with NGOs before

starting full time work.

Leading companies respects their employees and

give them a free hand to develop themselves.Proving that companies respect educated workers

desires for flexibility, personal growth, &

connectivity.

Generation Y and boomers Best

Practices for Tomorrow.


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Practices for Tomorrow. Like Boomers, Like Y

Odyssey: More Time out.Both generations see breaks as time for personal

fulfillment.

Shared Vision and ValuesBetter care of the planet and society.

Flexible and Remote workingFlexible work hours is important

Work/Life balance is important

Wish to work remotely


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Like Boomers, Like YMentoring and Generation jumping

Boomers delight in taking Ys under their wing

Ys look to boomers for advise and guidance

TRUST THOSE OVER 50

Kippers & Velcro relationship Boomers supporting their adult children.




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New Workplace Imperatives

Companies compete on the caliber of their people.Modularity: Boomers work for key assignment even

after retirement.

Flexibility: Companies let people work the way they

want yet keep the high productivity.Opportunities to give back: Companies support

employees causes to support the society.




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New Workplace Imperatives

Progressive Policies:Sustainable Development

Open space working for idea generation & fostering

collaboration

Intergenerational Mentoring:

Such examples can be found in all leading companiesBetter information between Ys and Boomers

Boomers are sharing know how and business contacts




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Open Season:Gen Xs take over of high post in coming years

will need to tackle Ys.

Gen Xs need to manage Ys to in future to

manage thriving organization.




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ConclusionConclusion

Two large surveys of college graduates reveal remarkablesimilarities in workplace preferences between Baby Boomersand Generation Ythe oldest and youngest groups in the

emerging workforce. Both Boomers and Gen Ys want to contribute to society

through their labor; seek flexible working arrangements;value social connections at work and loyalty to a company;and prize other rewards of employment over monetary

compensation. Given the large size of these generational cohortsrelative

to Generation X, which lies between themtheir workplacedemands have significant practical implications for howemployers should design work environments to attract andkeep talent.

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transformation of talent management