Latest HR Trends: Talent Magnet and Factory, Human Centric-Skills, Talent Acquisition future role, Tenure of new hires, Full Return to office work
Nicolas BEHBAHANI
Global People Analytics & HR Data Leader - People & Culture | Strategical People Analytics Design
?? Hello Everyone and Happy Sunday !
?? Welcome back to the 69th edition of Weekly People Research! ??
?? A heartfelt thank you to all the contributors for making this complex collection of research understandable!
? Some of you have coffee while reading this newsletter, some have lunch,... in short, enjoy reading as always!
Last week, we engaged in a discussion on the following exciting HR topics:
?? In this latest edition, you will discover more about ??:
??Why are human-centric skills in such high demand, even as AI technology advances, with the need for these skills reportedly exceeding that for digital skills by up to 2.9 times? SkyHive by Cornerstone researchers found that by 2026, 40% of all employees will need to learn new skills because of advancements in AI and automation.
??How can the US address the projected deficit of approximately 6 million indispensable talents by 2032? Lightcast researchers noticed that the participation of working-age men in the labor force has been declining, and the alternatives to fill these vacancies are quite restricted.
??Why do 83% of global CEOs predict a full return to office work within the next three years, marking a 20% increase from the previous year’s forecast? KPMG researchers revealed that global CEOs indicated that they would invest in AI regardless of economic conditions in 2024.
??Why do organizations today need to aim to be both a Talent Magnet and a Talent Factory? 普华永道 researchers detected five workforce signals on radar that leaders should turn their attention toward.
??Why do organizations face a significant challenge with retention, with 41% of new hires leaving within the first 12 weeks? CIPD and Omni RMS researchers discovered that organizations are increasingly turning to internal training and development to meet their talent needs.
??Why is leveraging AI tools in recruitment saving recruiters an average of 2.39 hours per week, and how does this allow them to dedicate more time to strategic TA tasks? iCIMS researchers uncovered that a lot of of TA pros fear technology will make their role obsolete.
?? Now, let's do a recap of the week on published research:
?? Findings of researchers:
Having the right skills and visibility into current and future needed skills is a company’s most valuable asset.
?? With adequate investment in skill development, employees become 2.5 times more equipped to adapt to changes at work.
?? By 2026, 40% of all employees will need to learn new skills because of advancements in AI and automation.
? The urgency to persistently upskill and reskill is significant — globally, 87% of executives have already identified skill gaps in their workforce or anticipate them in the coming years.
The demand for human skills consistently tops the need for digital skills across all regions, according to a new interesting research published by Cornerstone OnDemand using data ?? from more than 40 TB of data covering more than 200 countries and territories, including job postings, resumes, government data, and other data points in 11 languages.
?? Recommendation of researchers:
?? Finally, researchers offer the following recommendations for organizations to remain at the forefront of the skills economy:
??Enhance skills visibility
??Prepare for technological advancements
??Adapt to demographic shifts
??Leverage global talent pools
??Address generational skills gaps
??My personal View:
This outstanding research underscores the critical need for human-centric skills amidst the advancements in AI and digital capabilities. This global trend requires that organizations establish a comprehensive upskilling program to enhance human skills such as responsibility, communication, collaboration, and problem-solving for their existing workforce. Organizations are keen to be early adopters of GenAI technology, acknowledging its potential to foster innovation, streamline operations, and improve customer experiences. Such swift adoption demands a workforce proficient in AI applications.
???? What were the HR expert opinions:
Dave Ulrich Thanks for sharing this fantastic research. Even in an era of dramatically increasing demand for digital (GenAI) skills, the human centric skills remain in highest demand worldwide: 1??Demonstrating Responsibility 2??Communication 3??Interpersonal Collaboration 4??Problem solving 5??Security 6?? Leadership demonstration. I have written about this as a talent advantage for those organizations that can source this talent. Hopefully, organizations will find innovative places to access and source new employees with these skills.
Arturo Aranda Marín As technology and AI continue to transform the work environment, organizations will have a growing need to continue evaluating and developing the human skills of their teams. Although AI can optimize processes and improve efficiency, intrinsically human capabilities or soft skills such as communication, leadership, empathy or emotional intelligence will continue to be fundamental for organizational success. Organizations that invest in programs to develop these human skills will be better prepared and able to adapt to these technological changes. Thanks for showing this research and greats ideas.
Alexandre Piotrowski Great insights. AI is definitely here to stay and expand everywhere, making it all more efficient, automated and digitally personalized…however the value humanity brings is only going to get more critical, particularly when it comes to making good judgements.
Sara Junio Communication skills seems like such a broad topic. However, the ability to apply the critical thinking skills to study, review, and interpret data into meaningful information for different audiences…now that’s a communication-type skill I see missing. Thanks for the research, as always
Celeste Sirin ???? Thanks for sharing these insightful stats. I still believe that human-centric skills will impact service delivery which in turn will provide you with your competitive edge. You cannot take always from the fact that your people will remain your differentiator.
Vicki Saunders I personally think the need for human skills will get greater in the age of AI and automation as people crave genuine human experiences and connections
?? Findings of researchers:
The US is experiencing a significant loss of irreplaceable talent. The retirement wave of Baby Boomers is expected to impact each region, industry, and occupation in distinct ways.
?? Of the five million individuals who have exited the labor force since 2020, 80% are over 55 years old, a phenomenon researchers have termed "The Silver Tsunami".
?? There is a surge of Generation Z in the U.S. labor market.
?? The participation of working-age men in the labor force has been declining, and the alternatives to fill these vacancies are quite restricted.
?? Without immigration, working-age people will start to disappear from the US labor force, according to a new interesting research published by Lightcast using data ?? from a survey of US Census Bureau Current Population.
?? Recommendation of researchers:
?? Researchers have addressed the question of whether AI and automation can compensate for the declining labor force participation. The concise answer is negative. Not in the foreseeable future, and certainly not in the sectors that are most desperate for workers. The necessary tools are not yet available, and the industries that urgently require more labor are the ones least likely to be supplanted by AI.
??My personal View:
This insightful research on the forecast of the US population indicates that after years of growth, labor force participation among older Americans is now declining, a phenomenon researchers have termed 'The Silver Tsunami'. This data is crucial for leaders to plan their hiring strategies for the coming years. It is also noteworthy that AI and automation are not expected to offset the decline in labor force participation in the short term. Meaningful assistance from automation is still some distance away, and the full impact of this trend has yet to be felt.
???? What were the HR expert opinions:
Dave Ulrich Very interesting macro labor market research. No one should be surprised by baby boomers (born 1946 to 1964) retiring. This bulge in the talent pipeline has been evident for some time. Hopefully, with more global talent pools labor will flow to countries where there are good jobs, and technology may mean more flexible ways to get work done. Also some have suggested the people may live to be 100 and work in more flexible jobs longer (Lynda Gratton).But, demographic trends will affect many countries, e.g., China because of 1 child policy for so long. Organizations might invest in succession planning as they look at the age of their executive teams and broader employee population. Thanks for this more macro view!
LynnAnn B. This is terrific information and timely. Stockholders, the board, and SLT should prepare and plan their culture for the future and not return to how things were before the pandemic. It's time to move forward. Remember that post-pandemic surge of talent movement and keep the momentum to sustain and further develop a culture for retention.
Ahlam Bakkal It’s a wake-up call for leaders to rethink hiring approaches. Understanding the limitations of AI in addressing labor shortages is crucial as we navigate these changes.
Ali Al Abbas Many thanks for always sharing insights Nicolas , I guess this wave is going to git other regions as well.
?? Findings of researchers:
This year, researchers have also examined the generational differences among CEOs and observed that the expectation for a return to the office increases with age and and a gender divide is apparent.
?? Over the past decade, researchers have noted a decline in CEOs' confidence in the global economy, mirroring the increasing complexities of their operational environment.
?? Nearly three-quarters (72%) of CEOs admit to feeling increased pressure to secure the long-term success of their businesses.
?? 64% of global CEOs indicated that they would invest in AI regardless of economic conditions in 2024,
?? CEOs also acknowledge that other talent-related issues could affect future growth and competitiveness. Nearly a third express concern over labor market shifts, particularly regarding the impending retirement of many employees and the scarcity of skilled workers to succeed them, according to a new interesting research published by à 毕马威 using data ?? from a survey 1,325 CEOs, leaders from 11 countries and 11 key industry sectors between 25 July and 29 August 2024.
?? Recommendation of researchers:
?? In examining the next three years more closely, CEOs have pinpointed key operational priorities, which include advancing digitization and connectivity throughout their businesses, comprehending and applying generative AI across their operations, upskilling their workforce, and executing ESG initiatives.
??My personal View:
This research, drawing on a decade of survey data, reveals evolving trends concerning Return to Office (RTO) mandates and the primary threats perceived by CEOs. The recent RTO mandate by Amazon suggests a growing belief among CEOs that a full return to the office may shape future trends. This year's findings indicate a gender disparity and age difference as factors influencing RTO decisions. CEOs continue to be preoccupied with threats to business growth and have identified crucial operational priorities.
???? What were the HR expert opinions:
Dave Ulrich The issue of where employees work continues to get attention. I worry about mandates that require standardization of employee work. While the cultural glue that holds a company together is more likely found in person, sometimes the job or person creates value for customer remotely. Where and how people work should come from balance multiple stakeholder goals: employee, executive, customer, investor, community citizen. CEO's have a very difficult challenge to respond to these competing stakeholder demands. I assume the most effective CEO's continue to learn and to navigate these paradoxes. Thanks for continuing to share good insights.
George Kemish LLM MCMI MIC MIoL Although not aware of the reason for Amazon to change their working model, I would suspect that this move has been made to support future needs (changes in the external and/or internal environments that are required to support future growth). Whilst hybrid work might be beneficial for some organizations it will not support the needs of others. The point being that, having experienced a reduction in human performance, this employer is unlikely to then move to remote/hybrid working where the structure results in individual silos. Great research - there are a number of factors that will have an effect on working models.
Sarah McLellan Wow - that's a big number! Thanks for sharing... I really hope this doesn't become the norm. I do believe hybrid work has the potential to be one of the best changes we make - for people and businesses. But right now, we're hitting the sticky part of change - when it takes greater effort to develop our skills and habits to fulfil the potential. The short-term investment, learning & adjustment is really worth the gain!
Prof. Dr. Nicolas T. Deuschel Interesting findings. The problem however is that in most talent surveys remote work is one of the key expectations for accepting a new job. In the end the market will decide. My prediction is that the ones who have the desired Human Capital will negotiate their own remote work conditions while the rest will be asked to return to the office. Over time this will create friction with balanced HR policies for hybrid work.
Marc Lawn It’ll be fascinating to see this ‘play out’. Office occupancy rates are little changed over the last few years & with an aging & declining working age population in most industrialized nations the competition for talent is just starting to become a factor, I feel.
Micheline El Housseini Timbrell To answer your question; I believe it depends on various factors, such as the industry of the organization, the country or region where people are operating, the size of the organization, and the profile of the employees (generation, needs, interests, engagement drivers, etc.).
Andrew Lang Thanks for the insights! It’s clear that CEOs are navigating a more complex and volatile environment, where the balancing act between immediate pressures and long-term sustainability is intensifying.
?? Findings of researchers:
?? Only 62% of employees agree that their organization is a talent factory, while only 64% agree that it’s a talent magnet.
?? Researchers detected five workforce signals on our radar that leaders should turn their attention toward if they’re to make navigable headway through continued change and transformation.
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?? Each signal can be acted upon using certain levers, behaviors that businesses can implement, prioritize, customize and expand.
?? A location strategy is about more than mandates, more than mere geography. It’s about what employees need to do their work and grow in their careers with you — collaboration, connectivity, communication and community.
?? Regardless of your organization's location, and whether your employees are on-site, remote, or hybrid, it is crucial to ensure that your location strategy aligns with your business strategy, according to a new interesting research published by 普华永道 using data from a survey of more than 18,000 employees, 2,600 business leaders and 1,300 HR leaders conducted in April 2024.
?? Recommendation of researchers:
?? Researchers ultimately emphasize focusing on these five actionable takeaways, which are essential for initiating, advancing, sustaining, or kick-starting your workforce transformation. If you prioritize nothing else, focus on these fundamental actions:
?? Empower your talent strategy to deliver on your business strategy
??Articulate your location strategy
??Make sure you’re getting the ROI on your technology
??Use your workforce balance sheet to analyze the total cost of your workforce
??Invest in your leaders
??My personal View:
This outstanding PWC research has unveiled groundbreaking insights on the three-year timeline required for a true organizational transformation. Leaders must grasp the five key signals to steer business outcomes effectively. Organizations should not attempt to be both a talent magnet and a talent factory simultaneously, but rather focus on what is necessary to succeed in the market. The researchers' five recommendations are crucial for embarking on this journey of transformation.
???? What were the HR expert opinions:
Dave Ulrich As expected PwC does good research. Gaining a talent advantage has many dimensions. I appreciate the insights from this research on talent magnet and factory, location, intelligent enterprise, leadership trust, and workforce analytics. We have added a few things that we think also give a talent advantage, but it is important to keep learning. Thanks again for sharing.
Ramesh Ranjan Interesting research. Thanks for sharing. Yes we should consider adopting Supply Chain & Manufacturing strategies in HR - Lean, Six Sigma, JIT, TQM, Demand Planning & Forecasting, etc. Talent Supply Chain is the key to success after all People are the greatest differentiator of competitive advantage.
Karen Stone Really interesting research. It certainly helps to understand the key drivers and which phase an organisation should be leaning into. I’d add 2 points- to build a workplace that people want to join and remain at requires work from everyone. From employees and the way they advocate for the organisation (they’re a powerful and credible recommendation source after all) to managers being equipped and having a talent spreader mindset. When you enable managers with the capabilities to coach for stretch and growth, employees feel invested in and valued and if the talent ecosystem then provides signposts and opportunities for new opportunities, it’s like suddenly there a ‘map’ with choices instead of a vast blank space!
Dr. Bhanukumar Parmar I feel it’s a wonderful research with excellent suggestions, liked 5 levers, Thanks for sharing. There are very few Corporates that are true Talent Factories, benefiting both themselves & others. By default they are also Talent Magnet. I feel that being a Talent Factory or a Talent Magnet are two sides of the same coin. Location strategy applies in all fields; otherwise in India, IKEA wouldn’t be selling samosas instead of meatballs, & Domino’s & McDonald’s wouldn’t have aloo tikki & tandoori burgers on their menus.
?? Findings of researchers:
?? 27% of organizations reported that candidates they selected frequently, often, or occasionally did not show up on their first day
?? Competition for well-qualified talent has increased over the last year and 84% of organizations had tried to fill some vacancies and 64% of these experienced difficulties attracting candidates.
?? Organizations are increasingly turning to internal training and development to meet their talent needs - over half (56%) said they developed more talent in-house over the last 12 months compared with the previous year.
?? Organizations struggling to recruit are increasingly offering better pay and benefits to address recruitment difficulties
?? Some 78% of organizations increased their use of technology in the recruitment and onboarding process over the last 12 months, according to a new interesting research published by CIPD in collaboration with Omni RMS using data ?? from a survey conducted online from 4–22 April 2024 by YouGov of 1,016 UK-based HR/people professionals.
?? Recommendation of researchers:
?? Finally researchers provide below recommendations:
??Take a strategic approach to workforce planning.
?? Proactively widen your talent pools.
??Engage candidates throughout the recruitment process to ensure they are committed to the role and your organisation and have realistic expectations.
??My personal View:
This fascinating research on recruitment trends, though based on UK data, offers insights relevant to organizations globally. Retaining key talent is increasingly becoming a top priority, and understanding why new recruits leave within the first 12 months can lead to significant cost savings. Additionally, the impact of new technologies, such as AI in recruiting, will shape the recruitment strategies of many organizations in the coming years.
???? What were the HR expert opinions:
Louise Shaw FCIPD Thanks for sharing the findings. You've put together a great summary. It really is a worrying trend re Ghosting and talent leaving so quickly - something we work so hard on at Omni to overcome.
Dave Ulrich Again, fascinating research. In acquiring talent, we have talk about five actions or steps (see figure): set standards, source, screen, secure, and orient. I had not considered how critical orientation is to make sure that the candidate has a positive first experience so that they stay. When candidates who are hired leave early, talent acquisition becomes a revolving door and very expensive in terms of time, energy, and money. I like the ideas proposed to retain those new hires by better orienting them with meaningful first assignments, team integration, peer mentors, personal coaches, positive logistics (technology, workspace), and other signals that they matter. Again, fascinating research and scary that 41% leave! Thanks again.
LynnAnn B. Great information. These data are highly concerning. Onboarding & Exit Surveys are critical as well to the strategy.
? Anita Thomas D A ? In one of my roles, the % of new hires leaving in the first 12 weeks was 25% and I thought that was way too high! We managed to reduce it to 5% thanks to various interventions. Thanks for sharing the research!
Jos van Snippenberg Very valuable research. Scary outcomes, still. It looks like that companies aren’t able to flip the situation of mis-hiring. The question that arises is “why”? In times of labor scarcity on-boarding might be preferred over the right fit. The consequence of this is huge; a lot of costs and wasted energy. I see that spending more time on DNA alignment (individual vs organisation) increases the retention rate.
Hilton Biswas Indeed very pragmatic findings! Many a time, management of companies do not care about the long term benefits that they can get from their existing employees.
Namita Gopinathan,MBA Great insights! The focus should shift from simply filling vacancies to creating a talent ecosystem centered around alignment, transparency, and personal growth. Organizations need to move beyond viewing candidates as transactional entries in a pipeline and instead build authentic, value-driven relationships from initial outreach through onboarding and beyond. With the rise in early resignations and ghosting, companies should invest in a ‘Pre-Boarding’ phase that begins right after offer acceptance and extends through the first 90 days.
Rishi A. Battja ?? Thanks for sharing these insightful - concerning - insights! BUT, should we be honestly surprised by the data showing that 27% of candidates do not show up on their first day and 41% resign within the first 12 weeks? This trend is consistent with other studies indicating that poor recruitment and onboarding practices are significant factors. Many organizations still struggle with aligning their recruitment processes with candidate expectations, leading to higher dropout rates. Ineffective onboarding, lack of engagement, and unrealistic job previews contribute to early resignations. Additionally, the competitive talent market exacerbates these issues, making it crucial for organizations to refine their strategies. Addressing these challenges requires a proactive approach to workforce planning, better engagement throughout the recruitment process, and ensuring that onboarding helps new hires integrate and perform effectively. Moreover, scientific evidence from 2024 highlights the importance of investing more time in preparing recruits.
?? Findings of researchers:
? On average, using AI saves TA pros 2.39 hours a week
?? Approximately 90% of talent acquisition leaders envision the recruiter’s role evolving into that of a strategic talent advisor for the business.
?? More than 50% of job seekers reported that a negative application or interview experience would alter their perception of a brand, and an equal number would be less inclined to become customers of that brand.
?? 87% of recruiters are concerned about candidates’ use of AI during the application and interview processes
44% of people only expect communication from a recruiter when there are tangible next steps in the interview process.
? A lot of of TA pros fear technology will make their role obsolete, according to a new interesting research published by iCIMS using data ?? from survey of on a survey of 1,000 US adults ages 18+ and 5.5M+ hires and 200M+ applications annually across the iCIMS platform.
?? Recommendation of researchers:
Researchers found that Leveraging the right AI tools can create efficiencies that give to recruiters time back to focus on strategic initiatives and listed some of them:
?? Help write job descriptions
?? Develop questions for an interview
?? Match skills to job openings
?? Match former candidates to open jobs
??My personal View:
This fascinating research unveiled valuable insights into the benefits of AI in recruiting, highlighting its role in transforming recruiters into strategic talent advisors for businesses. Additionally, the four AI applications cited by talent acquisition leaders in this study demonstrate significant potential to add value to organizations. Future research will likely continue to detail the various tasks that new AI tools can support.
???? What were the HR expert opinions:
Dave Ulrich Very helpful deep dive into how AI will evolve the talent acquisition process and role of talent manager. As discussed elsewhere, in very simple terms, GenAI is about providing information to make better decisions. At the foundation level (of four stages), GenAI assists in providing information that might otherwise take more human time. In this research on talent acquisition, GenAI assists by providing access to information about job requirements and job candidates. This save Talent Acquisition professionals time by doing this information sourcing. Their job is less information seeking, sourcing, or simplifying, but using information to make a better hiring decision. "Strategic talent guide" might be a more active term than "advisor" since TA pro's will turn GenAI information into action. Again, thanks for sharing. I assume there will be many many many more GenAI applications for HR work... As the effort is still moving up the s-curve towards impact and stakeholder value.
George Kemish LLM MCMI MIC MIoL Another interesting and thought-provoking post Nicolas - we are already seeing AI tools being used in the application process in recruitment and is also used, to an extent, in the setting of tasks in assessment centres. However, it is not capable of making decisions - only in providing data. Recruiters will still be required to assess the information and outcomes of assessment centers. Perhaps it is worth pointing out that candidates are likely to have different knowledge, skills and experience that will need to be assessed and they are also likely to have different personalities (are they the right fit for your organisation?). This comes down to looking at whether the candidate would fit into the team 'seamlessly'.
Zohaib Azhar The evolution of recruiters into strategic advisors appears to be a natural progression
Reema Purohit The potential of AI tools in recruitment is indeed promising, and I believe it will continue to shape the future of talent acquisition.
?Leaders looking for the next step in their career:
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Here are 10+ roles to check out:
?? ServiceNow VP, Learning Business Partners --> https://lnkd.in/ekjWZNck ?
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?? Intuitive : Senior Talent & Org Development Leader --> https://lnkd.in/edSQ8EEs
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Nicolas BEHBAHANI
Head of Talent Development
1 个月Thanks for the insights Nicolas BEHBAHANI! It’s crucial for organizations to adapt and invest in both talent development and innovative strategies to bridge the skills gap. I’m especially interested in the challenge of retention and how internal training can play a pivotal role.
Human Resource Professional | MBA | Coporate Recruiting Professional- ASA | Ex-Wirtgen Group,A John Deere Company
1 个月Thank you Nicolas BEHBAHANI for this outstanding post! The research presented in this edition highlights crucial trends, including the growing demand for human-centric skills, challenges in talent retention, and the evolving role of AI in recruitment. It provides a thorough overview that encourages HR leaders to rethink their strategies and stay ahead of the curve. I truly appreciate your efforts in making these insights accessible. A heartfelt thank you to all the contributors for helping to simplify and make these complex themes actionable!
Employer Branding | Recruitment Marketer & Talent Acquisition Specialist | I help Leaders build & market their employer brands to attract and retain top talent | I place people at the centre of your Brand
1 个月Thank for acknowledging my contribution to your good work you share Nicolas BEHBAHANI ?????? much appreciate it! ??
Leading Transformations and Positioning Organizations for Future Success | Transformation Executive and Strategic Leadership Coach | Best Selling Author
1 个月Thank you for the shout-out, Nicolas BEHBAHANI Let’s embrace the value that AI can bring and what we can bring to the new era of AI. (PS, love the graphs!)
Co-Founder & CEO, Author, Startup Mentor, Business Consultant, Executive Coach, Professor
1 个月Nicolas BEHBAHANI you have shared some very insightful research data on some of the most pressing challenges and trends shaping the future of work. As AI and automation continue to advance, it's clear that the need for human-centric skills remains more critical than ever. The projected talent gaps and shifts in workforce dynamics emphasize the importance of reskilling, internal development, and leveraging technology strategically. It's fascinating to see how organizations must balance AI-driven efficiencies with efforts to attract, retain, and nurture talent, ensuring they are both innovative and people-focused in their approach. The integration of AI into daily activities and professional sectors shows that AI is not a competitor to human intelligence but a valuable ally and augments human intelligence & capability. https://www.dhirubhai.net/pulse/ai-augments-human-intelligence-enhancing-rather-than-ramesh-ranjan-zpryc/? Thank you Nicolas for sharing every week some very insightful research data & analytics in Human Resources management.