THE FUTURE OF WORK
part two
YOUR CHALLENGES
and how you can develop a winning formula
How people dynamics present new headcount planning, recruitment, onboarding, people development and retention present new challenges.
SEVEN INITIATIVES
do something versus nothing
If you're in scale-up mode or a small business, then you probably don't have the talent management frameworks that bigger companies have.
Creating them could be time-consuming.
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Your best approach? One based on the minimal viable product concept. Start by focusing on what matters most, creating basic, practical concepts, applying, testing and adjusting them as you go along.
GET STARTED
with seven critical actions
WHERE AND HOW TO START
test, adjust and optimise important initiatives
Instead of trying to build a joined-up people management framework and one that's a final product... Approach this in a modular format, tackling the most important initiatives first, and for each create the smallest product possible. Then try them, test them, see what's working well, what's not working well and make adjustments accordingly.
Planning and organising
Consider a modular approach, sequentially covering headcount planning, job specs, recruitment, onboarding, development, and retention. Choose a record-keeping platform like OneDrive, OneNote, Keep, or Notes. As a business owner or leader, create the headcount plan yourself, always prioritising simplicity.
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Bring them in on it
Prioritise tasks and involve your team in an agile minimal viable product approach. Break down actions into manageable tasks, test ideas, and learn from failures. This strategy accelerates progress and success. As a business owner or leader, create the headcount plan while keeping it simple for efficiency.
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Individual development plans
Empower individuals to create personal development plans, manage records, and track progress. Include job specs, responsibilities, skills (in order of importance), and performance expectations. Evaluate current skill and performance levels, identifying areas for growth and improvement. Encourage career aspirations and outline steps for advancement.
FACTS AND EVIDENCE
key stats
96%
Percentage employed. Highest since 1971.
21+
The number of parameters employers take into consideration
25%
Of the working population is America, African, Asian, Continental European...
70%
Of employees are not properly engaged with work
HIGH EMPLOYMENT.
LOW EMPLOYMENT.
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Retired population increase of 7.5% in the last 10 years (#1).
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Current employment rate is 96.2% (#2).
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Just 3.8% is unemployed,the lowest since 1971.
A similar dynamic applies in the USA... since 1969 (#3)
Source: #1 UK Census 2021 #2 House of Commons Library #3 US Bureau of Labor Statistics
GREAT EXPECTATIONS
why are hiring cycles so long?
As illustrated, it's not unusual for hiring managers to consider as many as 16+ parameters when sizing up candidates.
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These are aspects that we're discussing with hundreds of clients since 2020. When they're outlining hiring requirements and giving feedback on prospective candidates.
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In 2010, the number of parameters was typically 12+.
Every year expectations of people sitting in a hiring seat rise, and this probably applies to you too. Consequently, finding the right people with such specific skill sets takes longer.
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Location
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Working style i.e. hybrid, remote first or office
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Seniority level, scope and dimensions
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Functional area expertise (1)
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Functional area expertise (2) sometimes an additional definition
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Industry sector familiarity (1)
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Industry sector familiarity (2) sometimes an additional definition
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Employer size
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Underlying competencies
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Likeability
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Track record
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Emotional intelligence
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Challenge-related qualities
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Cultural match
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Values
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Motivations
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Stability and agility
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Growth potential
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Salary parameters match
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Availability to start within an acceptable timeframe
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Does the candidate want to take up this job?is job
COSTLY HIRING CYCLES
HIRING CYCLES TO RECRUIT SENIOR/SPECIALISTS
typical stages and timelines
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Not only are expectations of candidates higher - which means it takes longer to source them, but also recruitment processes are increasingly becoming longer.
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Hiring cycles are not only painfully long but they're costly too.
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They carry an opportunity cost of having the position vacant.
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There's the time involved of those people involved in the interviewing process.
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For the most senior people investors, business owners and CXOs, they incredibly distracting and dilute operational effectiveness.
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The number of interview stages has gradually increased, translating into painfully long and costly hiring cycles, often 3-6 months for senior and specialist hires. Whilst hiring expectations are rising, the availability of talent is reducing. Most companies are already operating with headcount gaps. And it's going to get worse. There is an ageing population. You can expect a reduced availability of talent. Complicating matters further employees are more independent and less loyal.
Onboarding to effectiveness - another 3-6 months
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Logistics, getting them on the payroll, setting up email addresses and apps
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Familiarising them with systems and process
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Plugging the skill and knowledge gaps
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Doing the work that needs to get done
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Relationship building, networking and integration.
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Developing workstreams, projects, implementing work that leads to the person becoming effective, productive and making a contribution.
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Raising performance through levels from satisfactory, to good, very good and first rate
WHY THEY STAY. WHY THEY LEAVE.
According to Gallup, just 20% of employees are engaged in their work.
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70% of employees say the issue of feedback is ignored. Seventy per cent of employees have either no feedback system or a failure to act on it when provided. Source: Qualtrics.
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Average turnover rate is 20%. Source: Department of Labor Statistics, US
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Average turnover rate in sales jobs is 31%. Source Xpert HR
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Employees who are "engaged and thriving" are 59% less likely to look for a job. Source: Gallup.
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Three out of four employees leave voluntarily. Source: AON 2020.
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Over half of employees who quit jobs do so because they have a bad manager. Source: Udemy
Trust and culture feature in over 90% of the conversations that we are having with candidates about their criteria, and expectations of an opportunity.
DIVERSITY
London is the most ethnically diverse region of the UK, with 46.2% of residents identified with Asian, black, mixed or ‘other’ ethnic groups.
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​Females represent 52.7% of the workforce. There are 2 million more women working in the UK today since 2010.
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​Women in professional jobs up 40% since 2010.
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​Source: UK Census 2021 and ONS 2023
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​The UK working population is 30 million, of which 2.25M are non-British EU Nationals i.e. from the EU.
Source: #1 UK Census 2021 #2 House of Commons Library #3 US Bureau of Labor Statistics
AGE DISTRIBUTION
You're managing different types of people.
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Across four generations.
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Each with different attitudes to work.
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And different expectations.
Employed in IT & Comms
Employed in Sales & Customer Service
​Source: Publication 2023 UK House of Commons, Library
