Careers in the 21st Century (Webinar by Fuel50 and Bersin by Deloitte)
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The document discusses the evolving framework for career management in response to modern workforce dynamics, highlighting the impact of digital disruption and changing employee expectations. It emphasizes the importance of skills, career development, and a collaborative approach among workers, managers, and organizations for successful career progression. The need for flexible and varied career paths reflects the shifts in organizational structures and employee aspirations in the 21st century.
Careers in the 21st Century (Webinar by Fuel50 and Bersin by Deloitte)
- 1. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 1 fuel50.com Careers in the 21st Century This is not your parents’ career management BERSIN BY DELOITTE WEBINAR Hosted by Fuel50 home.bersin.com
- 2. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 2 Josh Bersin Trends in Human Capital & Career Dani Johnson Career Management Framework Michael Martin Careers at Ingersoll Rand
- 3. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 3 Human Capital Trends Josh Bersin
- 4. HR 2017—Bersin by Deloitte predictions for the year aheadCopyright © 2016 Deloitte Development LLC. All rights reserved. 4 Demographic and political upheaval: Millennials make up more than half the workforce. Boomers working into their 70s and 80s, and a new wave of nationalism. Digital technology infiltrates our lives: Technology is disrupting business models and radically changing the workplace and how work is done. Need to increase speed and employee experience: Engagement is flat, people are distracted, hierarchical structures are going away, yet speed is increasing. Career and social contract with employees changed: Employees now demand rapid career growth, compelling and flexible workplace, purpose, and increased earnings.e of purpose at work. Forces disrupting organizations today Source: MIT Deloitte Research, 6/2015 “Aligning the Organization for its Digital Future”
- 5. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 5 Digital Disruption A New Industrial Revolution 90% of organizations surveyed by MIT and Deloitte anticipate their industries will be totally disrupted by digital trends. Source: MIT Deloitte Research, 6/2015 “Aligning the Organization for its Digital Future”
- 6. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 6 Siri Cortana Watson Alexa Viv The Future of Work Robotics, AI, sensors are here
- 7. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 7 Robots Average cost below $25,000. China purchasing 150,000 in 2016 to deal with shrinking workforce In 1900 41% of US jobs were in agriculture. It’s around 2% today. There is no fundamental economic law that guarantees every adult will be able to earn a living solely on the basis of sound mind and good character. - Daniel Akst, “What we can learn from anxiety about automation”
- 8. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 8 Impact of Robotics and AI on Work Jobs Shift to Skills Which Are Essentially Human Source: Talent for survival Essential skills for humans working in the machine age, Deloitte UK 2016
- 9. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 9 12% 17% 19% 21% 22% 22% 27% 29% 31% 37% 60% 88% 83% 81% 79% 78% 78% 73% 71% 69% 63% 40% Not/somewhat important Important/very important Deloitte Human Capital Trends Ranking of 2017 trends by importance Note: Ratings for “The augmented workforce” and “Robotics, cognitive computing, and AI” both relate to the broader trends on “The future of work” discussed in this report. Percentage of total responses Organization of the future Careers and learning Talent acquisition Employee experience Performance management Leadership Digital HR People analytics Diversity and inclusion The augmented workforce Robotics, cognitive computing, and AI Organization of the future Careers and learning Talent acquisition Employee experience Performance management Leadership Digital HR People analytics Diversity and inclusion The augmented workforce Robotics, cognitive computing, and AI Source: Human Capital Trends 2017, Deloitte Consulting, LLP
- 10. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 10 Why skills matter so much Source: U.S. Bureau of Labor Statistics
- 11. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 11 Shift Toward Social Skills and Hybrid Jobs For data For data science and analytics positions: • 9% require “creative skills” • 29% require “teamwork skills” • 22% require “problem solving” • 27% require “writing skills” • 29% require “research skills” Source: Bersin by Deloitte research with Burning-Glass Technologies
- 12. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 12 50% of Millennials will live to age of 100, expect 10-12 jobs by age of 38 Half-life of technical skills is approximately 2 years 37% of working people believe they will change careers within 5 years Change in the nature of a Career Only 29% of companies believe careers in their company are 10 years+, 44% say less than five years 83% of companies believe they will have “open careers” within 3 years, only 19% have structured careers Life expectancy of Fortune 1000 firm is less than 15 years
- 13. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 13 “Over 300 years of economic history, the principal and most enduring mechanism for distribution of wealth and reduction in inequality is the diffusion of skills and knowledge.” And this has become an issue with engagement and brand The learning curve is the earning curve
- 14. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 14 Career development is key to retention Millennials rate development the #1 job benefit 6% 6% 8% 14% 19% 22% 0% 5% 10% 15% 20% 25% Greater vacation allowance Retirement funding Free private healthcare Cash bonuses Flexible working hours Training and development Millennials in the workforce For Millennials, “Training and development” is the most coveted job benefit Percent indicating job benefit in first place Source: Human Capital Trends 2017, Deloitte Consulting, LLP
- 15. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 15 Research Highlights Dani Johnson
- 16. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 16 Shared responsibility: • Worker – drives the process • Manager – supports and guides • Organization – sets expectations, builds infrastructure from worker owned to worker owned, org supported Responsibility for career:
- 17. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 17 from career paths to career progression Movement around the organization: • More movement in general • More emphasis on development, and development is not always UP • “Experience collecting” and “attribute building”
- 18. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 18 from full-time balance sheet workers to diverse sources Expanded workforces: Traditional: • Full time balance sheet employees • Part time / seasonal workers • Contractors • Consultants Non-traditional: • Higher ed partnerships • Retired workforce • Contingent workers (the gig economy) • Externships/internships/apprenticeships • Open innovation competitions / crowdsourcing
- 19. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 19 From coaching to more visibility and guidance Visibility & communication: • More aligned internal & external messaging • Worker awareness of opportunities and development • Multiple channels of communication about career management
- 20. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 21 from focus on actions to focus on alignment Alignment: • Several elements to successful career management • Alignment rather than individual actions • More than one way to do career management
- 21. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 22 The Framework Elements & approaches
- 22. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 23 The 7 elements of career management What are organizations are paying attention to? Paths PeopleEnablersProgression Preferences Sources Leadership Messaging Infrastructure Development
- 23. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 24 4 approaches to career management Structured Flexible Open Transitory Focused on preparing & moving workers through well-defined career paths designed to follow the organizational structure. Focused on moving workers through fairly well- defined levels of an organization, while providing flexibility in career paths and job descriptions to accommodate development & organizational needs Focused on facilitating the work by assembling the most appropriate talent. Movement based on worker interest and organization need. Often used in team environments. Focused on facilitating the work by finding and utilizing the best talent sources – either external or internal
- 24. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 25 The Career Management Framework
- 25. Ingersoll Rand – Career Progress Michael Martin
- 26. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 27 Key Facts: Ingersoll Rand Company Headquarters • Incorporated in Swords, Ireland. • North American Headquarters and Corporate Center is located in Davidson, North Carolina. New York Stock Exchange • Been listed continuously on the New York Stock Exchange since October 11, 1906. • 16th oldest company and the 12th oldest continuously listed company on the NYSE. • Stock ticker is IR. Company History • 147 years old. The company was founded when Simon Ingersoll patented the steam-powered rock drill in 1871. • First incorporated on June 1, 1905.
- 27. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 28 Industrial Brands Climate Brands Ingersoll Rand Brands
- 28. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 29 Career Development: an existing need Employees want more focus on career development: Employee engagement survey results consistently tell us we have opportunity to improve important growth and development areas, including: I can achieve my career goals at this company. The company has effective processes for developing people. I am supported in taking advantage of available career opportunities.
- 29. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 30 What is Career Progress? • Greater visibility to possible career development moves and experiences • Online tools and resources to enhance career development • A common framework to organize jobs consistently across the company • Manager tools to facilitate better career discussions and guidance • A foundation for succession planning and building stronger talent pipelines GROWING OUR PEOPLE TO GROW OUR BUSINESS CAREER FRAMEWORK Standard job architecture Rewards methodology CAREER MANAGEMENT Success Profiles including key experiences and common career moves My Career Navigator
- 30. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 31 My Career Navigator
- 31. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 32 Explore Paths
- 32. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 33 Success Profiles Success Profiles for roles include the key experiences to be gained, competencies and level of skill needed, common career moves in and common next moves
- 33. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 34 • Implemented My Career Navigator for 20,000+ salaried employees in March 2016 • Career Framework rollout completed in October 2016 including career pathing functionality in My Career Navigator • Translating content into 6 additional languages in 2017 • 60%+ of salaried employees to date have utilized My Career Navigator • Focused on integrating and ingraining new resources into our existing processes • Feedback has been positive, will be monitoring specific development and career items on our 2017 Employee Engagement survey Implementation
- 34. A Framework for Career ManagementCopyright © 2016 Deloitte Development LLC. All rights reserved. 35 fuel50.com Careers in the 21st Century This is not your parents’ career management WEBINAR BY FUEL50 & BERSIN BY DELOITTE Join us for our next webinar in the series on the 20th April with IBM’s Gordon Ritchie - Disrupting the Career Ladder home.bersin.com Get your copy at fuel50.com/ book