Future of Talent

Outputs

Leaders need a new model to think about talent and proactively implement change as the pace of new channels, technologies, generational shifts and global complexity accelerate.

Shift from Transactional to Market Model

Traditional approaches to recruiting, developing and retaining talent are organized around a transactional model that is no longer sustainable. By moving to a market-based model that involves individual choice and community engagement companies are seeing positive outcomes.

Identifying significant cycles of historical change that will put present workforce challenges in perspective and lead to wiser decisions.

Our successful futures forecasts about talent followed a rigorous process of identifying seemingly disparate events, technologies, and ideas, then juxtaposing them in interesting ways. But the juxtapositions were not random. This helped us identify 20- and 30-year cycles and major shifts in history. As a result, we were able to see today within a larger perspective. In other words, patterns emerge from seemingly disconnected current events when they are viewed from a historical perspective.

The futures forecast exercise at Future of Talent helps participants begin a process of examining the underlying shifts that together could create a phase change in how successful companies win, leverage and keep the best talent. But even if companies do not invest in experimental products and services, being aware of forecasts keeps leaders from being caught off guard and playing catch-up with ideas. All too often, a trendy technology or viral idea can entice companies into unnecessary anxiety and investment.

The Rise of You

Personalization, customization, service science, and all of the technologies that allow individuals to have it your way are part of the you trend that we find ourselves immersed within today. The implications for talent are that people expect their unique individualism to be respected and catered; managers are unlikely to change this but may need to shirt their perception. Behaviors that appear ill-mannered or self-centered to older generations are often just matter-of-factness on the part of what sometimes is called Generation Why.

Ubiquitous connectedness

Almost everyone is connected almost all the time, almost everywhere. As we saw in Jim Schuyler’s presentation World 2.0, people in some of the most remote regions in the world, places where there isn't even electricity, are contributing to YouTube and mySpace. It is taken for granted but there are growing numbers of young people who are intentionally disengaging and resisting the always on culture. The implication for talent is that recruiters can't depend on finding the best candidates on the Web, although the networks may lead recruiters to discover some of the people determined to spend more time in the real as opposed to virtual world.

Collaborative community/social network

As we've heard from Verna Allee during Future of talent in 2005 and 2006 retreats, network mapping tools are growing more sophisticated, organizations are figuring out how to leverage them for productivity, and as a result this trend will continue to grow and become a more significant part of everything we do. With the rise of You Power, individuals are not just being tracked and understood by the tools, but using, contributing to and developing these tools themselves.

Myths about the new generation are misleading

What do the real voices of Gen Y offer us?

This generation was raised with different assumptions than previous generations:

Work = Learning
Work = Opportunity for service and community outreach local and/or global

The jobs they have may have little to do with their schooling. Much of their learning will occur on the job, so they are attracted to jobs that provide the best possible experience to prepare them for the future. There’s a fear of getting “stuck” somewhere where no learning takes place. There is an expectation that further schooling will occur, advanced degrees, certifications, etc. but uncertainty about how that fits into work.

Forget the days when people went to college for a fill ‘er up with enough knowledge to power a lifetime career. These young people know they'll need to refuel often, and employers can profit by pumping out learning opportunities.

Beyond money and flexibility: What is the new currency for talent? Passion, trust, challenge, contribution have an impact, meaning, feedback.

Passion

How can work resonate with their passions? They care about their organization’s values and want alignment with their own in many cases, this means more than money.
Trust (Mission statement? You gotta mean it)
Young people are highly sensitive to any disconnect between what is offered and what the experience actually is. When mission statements are not reflected in daily experience, that is a negative that reverberates beyond the individual employee. Offline, some young people said they felt owners and top leadership of companies may believe in the mission but that line managers do not implement, and employees are left stuck in the gap.

Challenge

They don't want to be doing monotonous repetitive tasks. They want a chance to use their full intellectual capacity and skill set, and to have their intellectual capacity recognized, listened to, valued not just blown off.

Having an impact

The entrepreneurial path and being your own boss is attractive because of wanting to have an impact, make a difference, affecting the company’s success. If they do not feel the job depends on them, their contribution they lack a sense of pride.

Feedback

Being honest about expectations and assessment does more than help productivity it builds trust.
Meaning
Bond social life with work life. Makes going to work that much easier. Makes you feel refreshed. Productivity was higher because of that relationship. But another stressed the need for balance more me time outside of work. A definite turn-off is office politics and one complained abut having to think too much about social dynamics.

Web 2.0 is a vague and often misunderstood concept, and talent leaders need to sort through the hype to get some answers.