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Multigenerational and diverse talent management for a workforce of the future
Accelerate Cape Town 20 February 2017
Michele DoyleAssociate Director
PwC
Let’s discuss…
Global megatrends
Context from PwC’s CEO Survey, 2017
Multigenerational workforce
Talent Management for a future fit workforce
Transformed organisations: diversity and inclusion in the workplace
Q & A
2
PwC
A world underpinned by 5 megatrends
Demographic shiftsThe changing size, distribution and age profile of the world's population
Resource scarcity and climate changeDepleted fossil fuels, extreme weather, rising sea levels and water shortages
Shifts in global economic powerPower shifting between developed and developing countries
Rapid urbanisationSignificant increase in the world’s population moving to live in cities
PwC has identified 5 global megatrends that underpin the business landscape of today and will impact the future of work.
Technological breakthroughsRapid advances in technological innovation
3
PwC’s 20th CEO Survey, 2017
PwC
Organisations are waking up to technology and automation
24%
58%
6%
12%
How prepared is your organisation for the role technology/automationwill have in replacing knowledge workers (in addition to physical workers)?
We’re very prepared and ready to embrace technology
We need to prepare for this shift and consider our peoplestrategy
We’re not prepared as it won’t impact my organisation
We have not considered this issue
Source: PwC global survey of 479 HR Leaders, May 2015
5
PwC
10%
53%
37%
Where do people want to work? – Three worlds
Blue world
Green world
Orange world
An elite organisation that employs only the best
An organisation whose values match my own
Myself – enjoying the freedom and flexibility to choose
which organisations I work with, and under what conditions
My ideal employer is…
6
PwC
Context of work – HR perspective
• Impact of technology in the way we work
• Ageing workforce
• Leadership and succession requirements
• Coaching and mentoring
• Competent and capable officials – proactive and responsive
• Requirements for compliance
• Attracting and retaining best skills
• Managing performance – accountability
• Career paths & development of skills (technical & behavioural)
• HR audits and standards
• Changing the culture of organisations – client centric
HR has a key role to play to enable the transformation through building organisational capabilities that will empower business leaders and government officials to navigate the disruptive nature of transformation (political, social, economic, digital, etc.)
7
PwC
Converging trends have created today’s up-to-five-generation workforce:
• People are living longer;
• Older generations not in a financial position to retire;
• Older generations wanting to work until an older age; and
• Older generations financially supporting their “adult” Millennial children
5%
21%
29%
45%
South Africa's Generational Melting Pot (SA Workforce)
Gen Y
Traditionalists
Gen X
Baby Boomers
Source: Statistics South Africa, 2015.
8
PwC
Baby Boomers
Baby Boomers
Birth years 1946 - 1964
Current age 50s and 60s
Education A birth right
Value Success
Work Ethic Driven, workaholic
Preferred work
environment
Flat hierarchy, democratic, warm & friendly
Leadership style Participative, accessible
What they want from
work
A loyal employer, the chance to mentor others,
respect
How to motivate them Utilise their experience and suggestions,
leverage their optimism, offer opportunities for
collaboration
9
PwC
Generation X
Gen X
Birth years 1965 - 1979
Current age Late 30s to early 50s
Education A way to get there
Value Work/life balance
Work Ethic Balance – work smarter with greater output
Preferred work
environment
Functional, positive, efficient, fast-paced and
flexible
Leadership style Self-directed, hands-off, flexible
What they want from
work
A trustworthy employer, problem-solving
opportunities, competent colleagues,
autonomy
How to motivate
them
Give them credit for their work, assign them
meaningful tasks they can complete
individually
10
PwC
Generation Y
Gen Y/ Millennials
Birth years 1980 - 1994
Current age Early 20s to mid 30s
Education An incredible expense
Value Individuality, flexibility
Work Ethic Ambitious, entrepreneurial, done at 5pm.
Preferred work
environment
Collaborative, creative, diverse. Want to work
where and when they like.
Leadership style Cooperative, collaborative, inclusive
What they want from
work
An empathetic employer, meaningful work,
mentorship, flexibility
How to motivate
them
Match them up with inspiring leaders, provide
immediate feedback, especially
reinforcement, let them present their
successes
11
PwC
On a lighter note…
12
PwC
Where generations collide
• Organisations need to manage more diverse workforces as average population ages increase and ‘working age’ numbers decrease
• At 40 people may now have twice as many working years in front of them as behind them.
• Longer working lives require new thinking about skills and multiple careers.
13
PwC
Tips for navigating a multigenerational workplace
• It’s not what you say, but how you say it
• Understand the different generational motives
• Benefit from diverse opinions
• Choose mentors wisely
• Keep an open mind about attitudes
• Adapt your style to the realities of today’s workplace
14
PwC
Digital natives (12-33);
• Always on
• Globally connected
• Expect change
• Feel incomplete
without technology
• See new
technologies as
addictiveTraditional consumer
Digital converts
2000 2008 20122004 20242016 2020
100%
50%
Digital Native
Digital Natives are the business
owners and leaders of the future
Percentage of the workforce
34%70%
Customers and employees are increasingly digitally savvy
15
PwC
Challenges of a multigenerational workforce
Differences in the values, communication styles and work habits of each generation are becoming increasingly pronounced.
Challenge for leaders: integrating newer workers while still respecting the seniority and experience of older ones.
Communication
Generation Y sends
text messages, tweets
and instant messages.
Baby boomers and
older Gen Xers prefer
phone calls & emails.
01Negative stereotypes
Lazy”, “entitled”, “tech
obsessed”, “stuck in
their ways” – these are a
few generational
stereotypes.
02Work habits:
Changing
technologies and
mobile work trends, a
consequent shift in work
habits.
03
16
PwC
Multigenerational workforce
We sit at a unique multigenerational crossroads. Baby Boomers have long been the dominant generation in the workplace, but Millennials are fast taking over.
Source: PwC NextGen. (2013). A Global Generational Study.
Millennials
34%Generation X
29%Baby Boomers
2%Traditionalists
34%Millennials
Today’s generational melting pot (US workforce)
Source: PwC. (2015). Today’s multi-generational workforce.
17
PwC
Millennial Expectations
Creating a strong cohesive, team-orientated culture at work and providing opportunities for interesting work are important to their workplace happiness
Millennials have cited training and development —not cash bonuses — as the most important benefit
Don’t believe the excessive work demands are worth the sacrifice to their personal life
Millennials place a greater emphasis on being supported and appreciated
18
Source: PwC’s Talent Mobility 2020 report (2010).
PwC
Making the connection sticky
Environment and practices drive the emotional connection
1. Balance and workload• Work/life balance• Impact of the workload• Manageability of the workload2. Engaging work, development
and opportunities• Work that is interesting and
meaningful• Support for professional development• Knowledge and influence about
opportunities3. People and teams• The team• Mentors and supervisors• Friendship at work4. Competitive pay and job
opportunities• Perceived pay equity• Job opportunities at employer vs
elsewhere
• Thriving• Commitment to
employer• Job satisfaction
Emotional connection drives attraction and
retention
Attr
ac
tion
Re
ten
tion
19
PwC
Talent Management approach
PwC’s Talent Management framework
• Aligned to the strategic direction of the organisation;
• Provides guidance on what needs to be done to have the right people, with the right skills, in the right positions, at the right time;
• Encompasses the following key components:
o Identifying key positions that contribute to the organisation’s competitive advantage or service ethos;
o Developing a talent pool of high potential and/or high performing individuals to fill these positions; and
o Developing human resource processes and systems to facilitate the alignment of talented individuals, key positions and organisational strategy.
20
PwC
Catering for a multigenerational workforce – the value for organisations
Strategies for a
multigenworkforce
Create a flexible work
culture
Fully leverage technology
Increase transparency
around compensation,
rewards & career
decisions
Build a sense of community
Consider introducing or
accelerating opportunities for exposure
Invest time, resources &
energy to listen & stay connected with your
people
One size does not fit all 1
2
3
45
6
7
Source: PwC NextGen. (2013). A Global Generational Study.21
PwC
Key questions for Talent Management –data analytics
• How many are currently in the employ of the organisation? Demographic breakdown per level
• Where were they recruited from? How was this done?
• What are roles/jobs are they performing at the organisation?
• Are those truly the jobs they want to perform at the organisation? – Technical or administrative?
• How long do they stay (shortest, longest, mean) at the organisation?
• Where do they go when leaving the organisation?
• Retention: Are exit candidates more prevalent amongst males or females?
• Are succession plans in place?
• How long would the organization want/need them to stay in its employ?
• What unique selling points of the organisation appeal most to them?
• What unique selling points of the organization appeal least to them?
• How does the organization’s millennial attraction and retention compare to similar entities?
22
PwC
Diversity and inclusion – transforming our organisations
23
1. Leadership and tone form the top
2. Recruitment Processes
3. Learning and Development
4. Talent Identification
5. Promotions6. Flexibility in Workstyle
7. Reputation and Communication
PwC
Words are not enough…
24
Questions for your organisations
What are you doing to make your workforce more diverse and how are you utlising the benefits?
Do you have the talent structures in place to enable a more diverse workforce to thrive?
What is the representation of women and other groups in senior management positions?
How do you deliver visible diversity action and results?
What are you doing to engage new generations inshaping your diversity strategy?
What are you doing to develop objective talent, performance management and career progression systems and definitions?
What are you doing to identify and tackle unconscious bias?
How are you communicating the positive aspects of diversity within your organization and how can you ensure these stand up scrutiny?
How well placed is your organization to find, attract and retain tomorrow’s workforce?
PwC
ENGAGE YOUR LEADERS ON THE FOLLOWING BUSINESS QQ…
1. What forces are changing your business and its markets?
2. What implications do those changes have on your workforce strategy?
3. What skills do you need to achieve your business goals?
4. How can you develop a more data informed, forward-looking and strategically-aligned approach to workforce planning, capable of dealing with the demands of a fast shifting marketplace?
5. How can you broaden access to people with the most competitively prized skills and capabilities, including attracting people who are currently put off or haven’t considered a career in your industry?
25
6. What role will automation and AI play in delivering your objectives and what are the implications for your human workforce?
7. What role will contingent labour play in delivering your objectives and how can their contribution be managed in a more proactive and systematic way?
8. How can you manage the differing demands of an increasingly diverse workforce?
9. How can you maximise the operational agility and organisational cohesion of your workforce?
10. How can you ensure that rewards are sustainable and reflect real value creation?
PwC
Transformed organisations: Diversity and inclusion in the workplace
Ownership35% is black ownership in Media 24.Roughly 91 000 shareholders in Welkom Yizani – the biggest broad based BEE share offer in the South African print media industry.
Board50% of Media 24’s board is female.60% of Media 24’s board is black.
Executive Management55% of Media 24’s Management is black.64% of Media 24’s Management is female.
Training and DevelopmentInvested R53m on training in the past year of which 70% was for black employees.Invested R2.2 million in SETA accredited training for independent publishers from rural and semi-rural areas.
Corporate Social InvestmentWeCAN24 is a digital school news platform which aims to create a culture of citizen journalism at high schools.Via Afrika launched four Via Afrika Digital Education Centres (VADECs) in rural areas to equip teachers and learners with digital skills.
27
© 2016 PricewaterhouseCoopers LLP. All rights reserved. In this document, “PwC” refers to the UK member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see
www.pwc.com/structure for further details.
Thank you!
Michele DoyleAssociate DirectorMaster HR Practitioner(SABPP)
Telephone +27 (0) 21 529 2532Mobile +27 (0) 82 854 5344