your talent strategy still effective in 2030?€¦ · indian profiles 2.4 million people in surplus...

YOUR TALENT STRATEGY STILL EFFECTIVE IN 2030?

by Korn Ferry in partnership with CEFIC

Géraldine van den Brande

Frederika Tielenius Kruythoff

Thursday, October 25th 2018

The Chemical sector in Europe

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3,2 million jobs

in more than

60,000

companies

Increased

sales

The largest

sector

amongst the

industrial

companies

2/3 of the entire

manufacturing

trade surplus

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The sector faces major challenges

Automation up to digitization

Increased market volatility

Dwindling resources

New entrants from emerging markets

50% of executives believe highly-skilled labour isavailable in Europe

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The sector faces a talent crunch of

highly skilled labor in Europe by 2030

There is not enough talent in Europe

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Change of

required

competencies

Poor reputation

of sector

Demographic

swift in Europe

Labor deficit as a % of workforce

Unrealized output due to labor shortage

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2020

3% 6% 11%

2025 2030

Unrealized output due to labor shortage

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The Netherlands France UK Germany

78billion $

17,5 billion $

9.8billion $3.6

billion $

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How do we secure highly-skilled talent?

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1. Define the competency profile

2. Attract the whole talent pool

3. Work on the sense of purpose

4. Integrate data analytics

5. Improve retention

How to secure highly-skilled talent?

Dual capabilities :

chemistry with digital

chemistry with MBA

bio-chemistry with physics

…

Talent Strategy

1. Define the competency profile

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42%

say their workforce lacks technical talent

Soft skills: top 5 competencies

Customer focus

Building effective teams

Result driven

Cultivating innovation

Communicating effectively

Talent Strategy

1. Define the competency profile

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36%

say their workforce lack leadership skills

How to develop the right skill-set ?

Indian profiles

2.4 million people in surplus in India by 2030

5 generations

From Baby boomers to Generation Z, all will be needed.

Women

No real increase of women in the chemical industry

Over 40% female CEO’s STEM educated

Talent Strategy

2. Attract the whole talent pool

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12%of female CEO’s knew

they wanted to be a CEO

How to integrate and attract the whole talent pool?

Attract the whole talent pool: Women

Korn Ferry 4 Dimensions (KF4D) – Women CEO’s Survey

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Drive for results Managing

complexity Inspirational Managing

diversity Team Building

5 years longer to become CEO vs male CEO

> 40% STEM

> humility < confidence > credibility > openness to

differences

PURPOSE Create Positive

culture Challenge Independent Work life balance

Korn Ferry Study 57 Female (former) CEO’s of Fortune 1000 companies. 6% of the Fortune 1000 company’s have female CEO’s

Experience

Drivers

Competencies

Traits

75% of our respondents note that the industry has a poor image amongst young employees

49% agree their company is well positioned as employer of choice

Talent Strategy

3. Work on the sense of purpose

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75%

How to become an employer of choice ?

49%

Talent Strategy

4. Integrate data analytics

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34%

How to design an efficient recruitment flow?

34% of interviewees believe they had an effective online strategy for recruiting

Talent Strategy

5. Improve retention

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75%

How to keep personnel eager to stay?

75% of respondents have intentions to stay over 5 years

1. How to develop the right skill-set?

2. How to attract and integrate the “whole talent pool”?

3. How to become an employer of choice?

4. How to design an efficient recruitment flow?

5. How to keep personnel eager to stay?

Discussion

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19© 2018 Korn Ferry. All rights reserved

Next steps

Chemical firms should review their talent strategies now!

Create / review your talent strategy

Create sense of urgency with your

stakeholders

Design a roadmap

Thank you

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Géraldine van den Brande

Chemical and Agri Sector leader EMEA,

Professional Search

Korn Ferry

Brussels, Belgium

Phone: +32 499 57 23 17

Email: geraldine.vandenbrande@kornferry.com

Frederika Tielenius Kruythoff

Chemical and Agri Sector leader EMEA,

Executive Search

Korn Ferry

Amsterdam, The Netherlands

Phone: +31 6 42026244

Email: Frederika.kruythoff@kornferry.com

Thank you