17-70 managing workforce age diversity
TRANSCRIPT
Workforce dynamics
Life expectancy increasing Pension age is increasing
YearRetirement
Age
1940 65
1960 67
1980 69
2000 70
2020 72
Workforce age is increasing
US 1994 2014 2024
Total 37.7 41.9 42.4
Men 37.7 41.8 42.0
Woman 37.7 42.0 42.8
Workforce trends• Millennials supplementing both Gen X and
baby boomers• Are becoming the largest active age
demographic in the workforce• BUT the average U.S employee is getting older • Creates complexity in managing the
workforce
Can we generalize the generations?Pr
e 19
45
• loyal, value logic, disciplined, likes stability 19
46-1
960
• idealistic, competitive,
• hard workers, • achievers,
questions authority
1961
-198
0
• work-life balance, self reliant, resilient, adaptable
1981
-199
5
• self confident, entitled, team oriented, work that has purpose
1996
-
• Tech natives, multitaskers, want to be heard,entrepreneurs
Maturists Boomers Gen X Millennials Gen Z
Many areas are equally important to all generations
Source: EY 2015
Ability to work flexibly
Flexibility doesn’t block promotion
Support for flexible work
Competitive pay and benefits
Their views differ on ‘how’ to ‘work’
Source: EY 2015
Able to telecommute
Shut off emails
Childcare provision
Reduced travel
Relocate for convenience
But how well do you know your people?
Can’t answer simple management questions regarding employees
Getting basic information is slow, painful, laborious and time consuming
Everyone has their own version of the truth
Reactive reporting on the past, not proactive planning for the future
Data in siloes across multiple sources and is inconsistent
40% people attrition in many companies
Your company Your people
GlobalMobile
Social
Multi-Gen
Digital
In Demand
Spreadsheet Hell
The people gap
Do you know your customers better than you know your people?
People analytics – it’s a thingGet smarter about your peopleKnow your people as well as you know your customers
Real-time informatio
n
Artificial intelligence
Cognitive computing
Peopleanalytics
77% of executives rate people
analytics as a key priority*
51% of companies are correlating
business impact to HR programs*
Predictive
analytics
*Deloitte University Press, Global Human Capital Trends 2016
Is your HR team struggling?
Do you have the right instruments ‘to fly’ successfully?Is your team qualified?
* Data: KPMG 2015
Technophobic?
Manual & fragmented processes?
Weak analytics capabilities?
Legacy systems & spreadsheets
Navigating ‘bad weather’ by flying on instruments
Improving Engagement
Economy
ReduceAttrition
Succession Planning
SkillsCrisis
Acquisition
What is flying on instruments?
Using data, dashboards and charts to be able to answer people related questions in real time, on demand
Deploying ‘people scientists’ to interrogate, question and explore data, spot trends and identify patterns that are not obvious
Working with analytics to understand, explain, predict and model different business scenarios and outcomes
Enabling CPOs to become more strategic, helping to chart and navigate the business when visibility is challenging
Enabling you to know as much about your people as you do your customers
Flying on instruments: your ‘flight path’
• People• Systems• Data
Flight School
• Centralized data• Single system• Integrated
Simulator
• Dashboards• Reports• Insights
Co-Pilot
• Analytics• Drill down• Cause and
effect
Captain
• Data driven• Proactive• Confident
Autopilot
You need the right technology to enable you to know your people
Fairsail HR and people management system• Global self-service
Accessible whenever, wherever, on any device
• Rapid implementationUp and running in weeks
• Executive dashboardsPeople info across the organization
• Fast innovationMulti-tenant cloud
• Most trusted enterprise cloudSecurity │ Availability │ Performance
#1 HR system on the Salesforce App CloudHR cloud module for Sage X3 and Sage Live
17-70: managing workforce age diversity
Find out how Fairsail can help you know more about your peoplewww.fairsail.com