Elearning! Magazine: Building Smarter Companies via Learning & Workplace Technologies.
Issue link: https://gelmezine.epubxp.com/i/48384
researchhr&talenttrends; dents whose companies are undergoing mergers and acquisitions and introducing new products and services. Demographic trends are also having a major impact on learn- ing and HR. According to the U.S. Department of Labor, the workforce in 2018 will look much different from today. (See Fig. 1, Workforce Demographics 2018). The 2018 workforce will be older and more diverse. We'll see fewer highly-skilled young professionals, gaps in emerging leadership and management, and the inevitable retirement of baby boomers. The percentage of Hispanics in the workforce is projected to increase by 33 per- cent and Asians by 27 percent. Additionally, today's college graduates are under-prepared for work. According to a study from ASTD and The Conference Board, U.S. college graduates need additional skills in order to perform their jobs. Employers report that 22 percent of gradu- ates are not ready to perform or to learn quickly on the job. All of these changes are driv- FIGURE 1: Workforce Demographics 2018 Older, More Diverse Competition for the Talent Pipeline Gap in Emerging Leadership The Inevitable Exodus +33% Hispanic +27% Asian +7.5% Black -4% Caucasian +11% Women Under-skilled in U.S. 22% of college grads need additional skills to start work 25-34 35-44 more than 250 applicants for every job opening in its stores. It takes resources (no matter how good your applicant tracking system is) for employ- ers to review applications. The solution is to reduce the number of candidates and get 45-54 shared its values of simplicity and efficiency. The company saw a tremendous increase in the quality of its recruiting. Successful recruiting now requires a focus on quality not quantity. Companies should con- sider creating an authentic In the years ahead, companies need to focus on new competencies for success: global awareness, innovation, collaboration, change and disruption. ing learning and HR in new directions. We have identified seven areas of focus to consid- er as you develop strategies and plans for the future. RECRUITING TUNNELS Companies need to rethink their talent acquisition strate- gies. Seven-11 told us it receives more than 180 appli- cants for every job opening at its headquarters. IKEA gets 28 Annual 2010 the right ones to apply. For example, the biopharmaceuti- cal company Regeneron needed to hire several hundred doctor- al scientists. It took a hard look at its culture and built a new branding campaign to reflect its deeply specialized "culture of sages." The result was a 10- fold increase in the quality of candidates. IKEA devised a similar approach, making it clear it wanted candidates who employment brand and replacing traditional approaches with social media tools. NEW LEADERSHIP MODELS In the years ahead, companies need to focus on new compe- tencies for success. These include global awareness, 55-64 65+ innovation, collaboration, change and disruption. Leadership development pro- grams should also include Elearning!