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2022

Talent

Lifecycle

Management

Unlockingtheskillsandpotentialoftheglobalworkforce

Private&Confidential-DoNotShare©BeameryInc.Allrightsreserved

2

TalentLifecycleManagement

Foreword

g“rapseid

Ontopofanincrediblytightjobmarketand

changingcandidateandemployeeexpectations,

we’relookingatworkershortages,international

politicalinstability,ahugeeconomicboom,and

apotentialincominginflationarycycle.

Havingtherighttalentinplacetoweatherthese

challengesismissioncriticalforeverybusiness

leaderthisyear.Itisabsolutelytimeforcompanies

totakeatrulytalent-firstapproach–toattractand

retainemployeesandoptimisetheworkplaceof

todayandtomorrow.”

AbakarSaidov

Co-founderandCEOofBeamery

TalentLifecycleManagement

53%ofemployeesareconsideringleavingtheir

currentrolewithinthenext12months.

Talentacquisitionandmanagementchangedmassivelyinthewake

ofthepandemic.The“greatresignation”hasseenamassexodus

oftalent.InApril2021alone,the

USLaborDepartment

confirmeda

recordspikeoffourmillionpeoplequittingtheirjobs,andmorethan

half(53%)ofemployeesareconsideringleavingtheircurrentrole

withinthenext12months,accordingtothesecondeditionofthe

BeameryTalentIndex

,with23%alreadyactivelylookingforanewjob.

Employees,havinghadtimeforsomesoulsearchingandreflecting

onwhattheyreallywantfromtheircareer,nowexpectmorefrom

theiremployers:moreflexibleworking,mentalhealthsupport,career

development,andtransparencyandtrustaroundcompanyvalues,to

mentiononlythemostmajorshifts.

Butit’saboutmorethanjustsolvingthetacticalissuescreatedbythe

pandemic.Inthecurrentmarketconditions,short-termtacticscan

quicklybackfire.Asatalentleader,youwillneedtodevelopstrategies

formanagingtalentacrossitswholelifecycle–fromattracting

potentialcandidatesatthetopofthefunnelthroughtodevelopment,

promotionandbeyond.Youneedanapproachthatallowsyouto

manageyourcandidatesandemployeesholistically,byconsidering

boththeircurrentandfutureskills,andunderstandingthedriversof

theirambitionsandprofessionalgoals.Inotherwords,youneedTalent

LifecycleManagement.

Thinkingstrategicallyandtakingatalent-firstapproach–andaskills-

basedapproachtohiring–putsmorepowerinyourhandsasatalent

team.Yougetamoregranularviewoftalent,givingyouaricherdata

sourcetomakesmarterdecisions:youcanstarttoforecastyourskill

needsandcreatemoretailoredtalentdevelopmentjourneys.And

itdrivesrealvalueforyourbusiness,wideningyourtalentpool,and

enablingbetterinternaltalentmobility,retentionandperformance.

3

4

TalentLifecycleManagement

READTHISEBOOKTOFINDOUT:

Whatnew,andlasting,challengesthe

pandemichascreatedfortalentteams.

Whatthepainpointsofthecurrenttalent

marketare,andhowtoaddressthem.

Howtoseetalentinanew,holisticway.

Howtolearnfromthechallenges,

andattractandretainthebesttalent.

Tableofcontents

Foreword2

Tableofcontents4

1.Whatthepandemicrevealed5

2.Thenewhiringparadigm7

3.Anewlensfortalent10

4.Howtoattractandretaingreattalenttoday14

Conclusion&keytakeaways–Anewmodelforthenewnormal17

TalentLifecycleManagement5

01

Whatthepandemicrevealed

Thepandemicacceleratedandamplifiedanalreadychallenging,competitivetalentmarket.Theworldwentdigitalalmostovernight,andremoteandhybridworkinghasbecomethenewnormal.Ithaspresentednewchallenges–andopportunities–foremployersandemployeesalike.

Feelingremote:Manyworkersenjoyed,andcontinuetoenjoy,theflexibilitythatremoteworkingallowed,withmorethanathird(37%)oftherespondentstoourlatest

TalentIndex

reportingthattheirwork-lifebalancewasbetterduringtheworstofthepandemic.Butnoteveryonefeltthebenefitsofthenewwaysofworking.

Youngerworkersinparticularhavebeennegativelyaffected.Alargeproportion(41%)of18-24yearsoldssharedwithusthattheirworklifebalancewasbetterbeforethepandemic,whentheycouldsocialisemorethroughtheoffice.What’smore,athirdofemployeesreportedthattheircompany’sapproachtoworking

fromhomehasleftthemfeelingbothisolatedandundervalued,and38%voicedconcernsabouttheirpersonaldevelopmentandcareerprogressionasaresult.

Thisgoessomewaytoexplainingthewideninggapbetweenemployeeoptimismabouttheiremployers’post-pandemicworkplacepolicies,andtheretentionissuesplaguingemployersasthegreatresignationoftheglobalworkforcecontinues.While

74%arehappywiththeir

companies’return-to-workpolicies

,morethanhalf(53%)areconsideringleavingtheircurrentrolewithinthenext12months,with23%alreadyactivelylookingforanewjob.

newjoiners,feelaboutremoteandhybridworkingandyourreturn-to-workpolicies.Youneedtoensureadequateprovisionforfacetimeopportunities,careerprogressiondiscussions,training,personalconnectionsandimprovedmentalhealthsupportastheyfocusongettingtheircareersbackontrackandwhattheywanttheirfuturetolooklike–insideoroutsideyourbusiness.

Opportunitiesforinternalmobility:Ithasalsoputthepressureontalentteamsinotherways.Ascompaniesadapttoeverchangingconditions,andfeeltheirwaythroughthelastingeffectsofthepandemic,it’shardertoforecasttalentneedsforthefuture.Accordingtosomerecent

researchfromIBM

,85%ofcompanieshavehad,andwillcontinuetohaveforthenexttwoyears,difficultyinforecastingtalentacquisitionrequirements.

However,thisispresentingtalentteamswiththeopportunitytomakethemostofthetalenttheyalreadyhave.While

halfofcompaniesexpect

theirrecruitingbudgettodecreasethisyear

,66%anticipatetheirlearninganddevelopmentbudgettoincreaseorstaythesameastheyseektoupskillandredeploytheirexistingworkforce,withinternalmobilityalreadyup20%sincetheonsetofCovid-19.

SowhilethelabourmarketisintheprocessofreboundingfromCovid-19aftertherolloutofvaccinesandboosterprograms,2022

mightstillseesomenewrestrictionsinplaceandincreasedcontagionriskswithnewcovidvariantsdetectedacrosstheworld.Thereisgoodreasontoexpectthetalentmarketwillstayjustascompetitiveforquitesometimeyet.

Soit’scrucialthatyouconsiderhowyour

employees,particularlyyoungerworkersand

TalentLifecycleManagement6

TalentLifecycleManagement

Summaryofchallenges

EXISTINGTALENTCHALLENGES

POST-PANDEMICCHANGESTO

TALENTMARKET

Siloedapproachtotalent.

Talentacquisition,internaldevelopmentstrategyandDE&Ieffortsaremanagedseparately,meaningthereisnocoherenttalentstrategytothewholelifecycleoftalent.Anditisdivorcedfromwiderbusinessgoals.

Afocusonroles,notskills.

Mostcompaniesarestillrelyingonoutdatedandoverlyrestrictivejobdescriptionsthatkeepvaluabletalentoutoftherunning.Byfocusingontheexistingdefinitionoftheroletheyarehiringfor,insteadofthinkingabouttheskillstheyactuallyneed,yourrecruitersmightbemissingoutonunderservedcandidatecommunitiesthatwouldbeagreatfitforyourbusiness.

Theskillsgap.

Evenbeforethepandemic,businesseswerestrugglingtofindtherighttalentinacompetitivemarket,particularlyintech.

Biastowardshiring,notdeveloping.

Mostbusinessesemphasisehiringnewtalent,ratherthandevelopingandredeployingexistingtalent.

Thegreatresignation.

Peoplearenowmoreacutelyawareofwhattheywantfromtheirjobandlife,andtheyexpectmorefromemployers.

Thenewnormal.

Workersnowexpecthybridorremoteworkingasthenorm.Andtheworkingstylediffersbyageandstageincareer.Younger/lessexperiencedemployeeswantthesocialaspectoftheofficeandface-to-facedevelopment.Butthisisnotsuchaconcernforolder/moreexperiencedemployees.

Amorecompetitivemarket.

Thepandemicmadeanalreadytrickymarketeventrickier.Remoteworkinghasopenedupglobalopportunities,andworkersaremoredemanding.

Skillgapwidened.

Thepandemicmadetheskillsgapevenwider.Whilethepandemicopeneduptheworldwithremoteworking,italsomaderelocationmoredifficult.

Risingbusinessunpredictability.

Theconstantlychangingenvironmentandprioritiesmadeithardtoforecastskillneeds.

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02

Thenewhiringparadigm

Candidatesarereadytomoveon!

74%arehappywiththeircompanies’return-to-workpolicies,BUT...

53%areconsideringleavingtheircurrentrolewithinthenext12months

23%are

alreadyactivelylookingforanewjob

72%are

confidentin

theirabilityto

findanewjob

Thepandemicslowedthingsdown

51%

ofemployeesfeeldoubtabouttheirworksituation.They’reworriedaboutthestateoftheirwell-beingduringthepandemic,andthelackoffacetimehinderingtheirchancesofpromotion

66%ofGenZworkerssayremoteworkhasslowedtheirprogression

26%arealsochangingcareerpathsandgoals

81%madethedecisiontolookforanewroleduringthepandemic

Careerprogressionisapriority

Mosteffectivewaytoclosetheskillgapinthenext5years:

Skillbuilding50%

Hiring31%

69%

46%

ofrespondentssaythattheirorganizationsdomoreskillbuildingnowthantheydidbeforetheCOVID-19crisis.

ofrespondentsreportanincreaseinredeployingtalentattheirorganizations,whichmakesitthesecondmostcriticalactivityforclosingskillgaps

SOURCES

BeameryTalentIndexSecondEdition

InsightsfromtheMcKinseyGlobalSurvey1

InsightsfromtheMcKinseyGlobalSurvey2

TalentLifecycleManagement8

Theskillsgapexistedbeforethepandemic,butbusinesseshaveonlyfeltitmorekeenlysincethen.Demandfortechjobsalonewas

42%higher

inJune2021thanatthesametimein2019

,butthesupplyisnotkeepingup.

Morethanthree

quarters(77%)oforganisationsintheUKare

reportingtalentshortages

–thehighestinoveradecade,andclimbingeachyear–and

investment

inHRandtalenttechisatanalltimehigh

ascompaniessearchforthebeststrategiesandtoolstobridgethegapandkeepthecandidatesflowingin.

Employees’market:Partoftheissueisthatemployeesarenowbeingpresentedwithagreaternumberofexternalopportunities.HalfofallemployersintheUKplantoincreasetheirheadcountbytheendofthisyear,accordingtothelatest

ManpowerGroupEmploymentOutlook

Survey

,andremoteworkinghasopenedupglobalopportunities.Employeesnowhavemorechoice,and–nowexpectingmorefromemployers–canbemoreselectiveaboutwheretheychoosetowork.

Indeed,81%oftherespondentstoourlatestTalentIndexsaidthatthepandemicgavethemtimetomakethedecisiontolookforanewrole,withsomesoulsearchingalsoleadingmorethanaquarterofrespondents(26%)tochangetheircareerpathandgoals.Andthey’reoptimistic,too,withalmostthreequarters(72%)confidentintheirabilitytofindanewjobinthenextsixmonths.Theyfeelthattheyhavewhatittakestofindtheirnextjobandwillbemoredemandinginchoosingit.Ifemployeesdon’tfeelliketheirdevelopmentisbeingsupported,they’llmovetoacompanythatdoesitbetter.

Butwhatexactlyhasinspiredthisdesiretomove?Whilewefoundthat51%saidthat

theiremployershadbeensupportiveandhadprioritisedtheirwellbeingduringthepandemic,seedsofdoubthadcreptinasalmosthalf(49%)feltthelackoffacetimewiththeiremployersoverthelastyearhadhinderedtheirchancesofpromotiontosomedegree.Thiswasevenmore

pronouncedwith“GenerationZ”(peoplebornafterthemid-1990s)workers,withtwothirdsofthatgroup(66%)sayingremoteworkhadslowedtheircareerprogression.

Soeventhoughmanyhavefeltsupportedoverthepandemic,thetimetothinkhassharpenedtheirfocusonexactlywhattheywanttogetoutoflifeandtheircareer,andgiventhemahungertolearnnewthingsanddevelop.Talentteamshaveastarkchoice:youcaneitherchoosetohelpthemgetthere,orwatchthemwalkoutofthedoor.

Beyondhiring:Thismarketpresentsanopportunityforbusinesseswillingtotakeadvantageofit.Ifyoutakeaproactiveapproachtosupportinganddevelopingyouremployees,youcanhelpbothretainyourtalent,andhelpitdevelopintoareaswhereyouneeditinthebusiness.Thisalsoappliestoyouremployerbrandingapproach-bycommunicatingclearlyaroundyourinternalmobilityinitiatives,youareplacingyourselfaheadofthecompetitionintheeyesofthecandidates.

Employeesneedtohavetheroomtogrowandmovehorizontallyinyourbusiness–allthemoresowhentheyfeelthattheirdevelopmenthasbeenputonpausebythepandemic.

Thereisalsoalottogainbyrevampingyourapproachtointernalhiring.Ratherthanfocusingonexternalhiring,competitivetalentteamsarelookinginwardsandfocusingonreskillingtheirexistingworkforce.

Reskillingandinternalmobility,

nothiring,arenowseenbybusinessesasthe

mosteffectivewaystocloseskillgaps

overthenextfiveyears,with69%ofbusinessesdoingmoreskillbuildingnowthanbeforethepandemic,accordingtoa

recentMcKinseysurvey

,and46%increasingtheredeploymentoftalentintheirbusinessastheylooktocloseskillgaps.Yetwhilepluggingtheskillsgapisapriority,

onlyonethird

ofcompaniesareprepared

todoso.

TalentLifecycleManagement9

69%

Changesinactionsusedtocloseskillgaps,sincetheendof2019,%ofrespondents

BuildingSkillsRedeploymentHiringReleasingContracting

%PointDifference

*Respondentswhoanswered“nochange”or“don’tknow”arenotshown;n=700

Source:McKinseyGlobalSurvey

Buttalentteamsthatgetitrightstandtogainmuch.53%ofemployeesareconsideringleavingtheircurrentroleinthenextyear,and74%believethey’llbeabletomovetoanewrolewiththeircurrentemployer.

What’smore,employeeswhoseegoodopportunitiestolearnandgroware

2.9timesmorelikelytobe

engaged

atwork.Combiningthesefindingspromptsthequestion:withinthenextyear,areyoureadytoofferyouremployeestheirnextroleorareyouwillingtorisklosingthem?Inotherwords,doesyourtalenthaveafuturewithyou?

TalentLifecycleManagement

10

03

Anewlensfortalent

Toovercomethelastingchallengesofthepandemicandbridgetheskillsgap,youneedto

thinknotintermsofroles,butskills.Areyouthinkingaboutwhatskillsyouactuallyneed,or

areyoujusthiringmoreofwhatyoualreadyhave?

Skillisalensfortransparency.Itgivesyou,andyouremployeesandcandidates,greatervisibilityonwhereyouarenowandwhereyou’regoing.Focusingonskillsprovidesamorecompletepictureofeachindividualsoyoucanmanagetalentmoreeffectivelythroughthewholelifecycle–fromprospecttopromotionandbeyond.It’swhatwecallTalentLifecycleManagement.

Startingwithskills:Bybreakingdownthetalentmarketintoskills,ratherthanroles,yougetamoregranularunderstandingofbothinternalandexternaltalent,makinghiringanddevelopmentmoreeffective.Youcanseeinwhichskillsyourstrengthslieandwheretheweaknessesare,andsobetterpinpointandprioritisemission-criticalskillsandfigureouthowbesttoplugthegaps.Doyouneedtorecruitexternally,orcanyoudeveloptheskillsinternallywiththerighttraining?

Andareyouthinkingaboutwhatskillsyouactuallyneed,orareyoujusthiringmoreofwhatyoualreadyhave?

Itgoesbeyondjustthinkingaboutwhatskillsanindividualcurrentlyhas.Thefocushastraditionallybeendirectedtowardacandidate’syearsofexperienceandtechnicalskills,butthebestwaytowidenyourtalentpipelineistothinkintermsofpotential.Skillsyoucantrain,butit’shardertochangesomebody’sattitudesandbehaviours.Withaskills-basedapproachandaclearideaofhowyouremployeescangrowwithinyourorganisation,youcanstarttolookbeyondtheskillsthecandidatecurrentlyhas,andlookforwardtotheonesyoucanhelpthemdevelop.Youcanstarthiringforpotential,andtrainingforskills.

Sotakingaskills-basedapproachtotalentprovidesbothasnapshotintimeandamapoftrajectoryandpotential.Wherehavetheybeen,wherearetheygoingnext,andhowcanwehelpthemgetthere?

Andatatimewheneverycompanyiscompetingforthebestcandidatesinatrickymarket,evaluatingemployeesbyskillshelpsyourealisethetalentthatthey,andyou,alreadyhave.Itallowsyoutosourceanddevelopskillsinternallymoreeffectively,whichinturn

helpsto

retaintalent

.Youcanhelpyouremployeesseewhatskillstheyneedtolearntotakeonnewresponsibilitiesormoveintoanewrole,andofferabespokelearningplantohelpthemgetthere.

It’slikethejumpfrompapermapstoGoogleMaps.Ratherthantryingtomakeyouremployeesfigureoutwheretheyareandplottheirownroute,youcanassistthemontheirroutewiththerightdataandsupport,andshowthemtheskillstheyneedtojumpintoanadjacentrole.YoubecomeatalentGPS–arouteplanner.Youremployeeorcandidatescanchooseexactlyhowandwhentheywanttogetthere,butyoumakeitaseasyaspossibleforthemtofindtheway.

TalentLifecycleManagement11

TalentLifecycleManagement

Inaddition,evaluatingemployeesandnewhiresontheirskills,andpotentialtoupskill,insteadoftheirworkhistoryalsohelpsleveltheplayingfield–wideningyourtalentpoolsandachievingbetterdiversity,equityandinclusion(DE&I).Bystandardizingandassessingskillsobjectively,youcanfindthemostqualifiedcandidatesfortherole,notjustthosewhoaremostconfidentorbestatself-promotion.

Andtheskillsyouthoughtmostimportantforaparticularrolemightnotbe.Whenitcomestotechhires,forexample,theincreaseduseofAIandautomationmeansthat

employeesneed

morethanjusttechnicalskills

.Skillssuchascommunication,creativity,leadership,empathy,decision-makingandcriticalthinkingaremoreimportantthanever.These“softskills”havetraditionallybeenthoughtofassecondarytotechnicalfluency,buttheyarejustascriticalindeliveringlastingbusinessvalue.Indeed,theemployeeswhodobestinmanagerialandleadershippositionsareoftenthoseadeptatsuchskills.

Moreover,whenmorethan

40%ofworkersare

workinginalternative,non-permanentways,

focusingonskillsratherthanrolesgivesyoumoreflexibilityinfindingthebestwaytoclosethegaps–therearemoreopportunitiesforemployeesandmoreopportunitiesforemployerstofindtherighttalent.

Sotakingaskills-basedapproachhelpsunifyyourtalentefforts.Ratherthantalentacquisition,internaldevelopmentandDE&Ioperatinginsilos–focussingonskillsallowsyoutothinkaboutandmanagethewholelifecycleoftalent.Forinstance,youmighthitallyourDE&Irecruitingtargets,butfailtoactuallyincreasethediversityofyourworkforcebecauseyoudidn’tdoenoughtoretainthetalentyouhired.EveryaspectofyourtalentstrategyneedstobejoineduptosucceedandcatertothewholeTalentLifecycle.Onestrategytowardsonebusinessgoal:toattract,developandretainthebestpeople,inanwinclusiveway.

12

Thedatalens:Focusingonskillsismorethanjustawaytoquicklyplugskillgaps–it’sastepchange,whereaccesstonewdatamakesnewthingspossible.Bylookingatskills,ratherthanjustrolesandtitles,yougetamoregranularunderstandingofyourtalent,whichallowsyoutodesigntalentstrategieswithapowerfullensintotheabilityofyourbusinesstodeliveronthosegoals.

Itprovidesanewwayofthinkingaboutandreportingontalent.Youcanmovebeyondthetraditionalmetricsoftime-to-interviewandtime-to-hireandlooktothemorebusiness-alignedmetricsthatareallowedbyskills-basedandlifecyclemanagementdata–whatpercentageoftheworkforcehavewedeveloped?Wherearethegaps,therisks,theopportunities?HowlikelyarewetomeetourDE&Itargets?Areweontracktohiretoplan?

Bymappingskills–andthenewdatatowhichitgivesyouaccess–toyourcompany’sgoals,itmakesyourtalenteffortsmorestrategic,moremeasurableandmorealignedwithyourbusiness’sgrowth.

Data,then,isthefoundationforTalentLifecycleManagementandaskills-basedapproachtotalent.Withtherightdatayoucanpresentacompletepictureoftheskillsyourorganisationhasandtheskillsitneeds,givingyouabetterideaofwhatskillsyoucandevelopinternallyandwhichyouneedtohirefor.

Buttobeuseful,yourdataneedstofeedintoandintegratewiththerestofyourtalenttechstack,ideallybyfeeding

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