Global Trends and its Implication for Talent Strategy

The world is experiencing tremendous transformation. The convergence of macro global forces has served to create volatility, unprecedented speed of technology, acceleration of emerging markets, over demand for workers, undersupply of talent, and antiquated management practices and tools destined some organizations to failure. The trends as identified by Manpower Group as most significant are impacting and influencing organizations across the globe regardless of size. The trends are the following: Talent MisMatch, Technological Revolutions, Individual Choice, and Rising Customer Sophistication. In many places across the globe, talent has replaced capital as the largest constraint. And yet, most organizations put little rigor to the decisions regarding people.
The complexity of the talent challenge is reinforced by some compelling labor demographics, i.e., a shrinking working population globally, in the US by 2020, 1.5 million too few college graduates, 5.9 too few American’s with high school degrees. Additionally, there is little alingment of talent mobility (immigration), informational failures in education markers (what to study), lack of incentives to relocate, 70% of business leaders now spending sufficient time on talent.

Since we know there is no reset to what was, organizations must understand the constraints and driving forces to transforming their labor force. The demographic landscape has created a talent shortage. So while the risks to your business strategy are profound, there are things that can be done to get ahead of it.

•       Move from a workforce plan to a workforce strategy
• Identify levers to make changes quickly
•       Align your leaders around workforce needs and skills
•       Force choices in your organization- set real priorities
•       Understand where you need pivotal talent pools and where they are a nice to have – where are the gaps?
•       Identify internal and external risks (impact on business and risks of shortage)

You can begin immediately to mitigate the external factors adversely affecting your organization.

Leaders and managers responsible for transforming their organizations for success, and preparing a talent strategy to move their business forward.

• Global Trends impacting organizations across globe
• Levers to pull to begin executing different ways of thing and behaving
• Demographics of labor pool- top ten hardest jobs to fill
• Differences between a talent plan and a talent strategy
• How to identify a pivotal talent pool

"Human Age"- www.Manpower.com "Driving Large Scale Transformation"- Deloitte Consulting " Trends in Worker Requirements and Need for better Information" OECD 2007 "Recovering form a Crisis, A Global Jobs Pact," International Labour Conference, 98th session, Geneva, 2009 Pew Research Center

		Donna DiMenna DiMenna Consulting Group View Profile