the future of work - cupa-hr chapter resources...future-proofing hr, global talent trends 2016, 2017...

H E A L T H W E A L T H C A R E E R

THE FUTURE OF WORK: HOW WILL HIGHER

EDUCATION BE

IMPACTED?

N Y C C U P A - H R C H A P T E R

M A Y 1 1 , 2 0 1 8

Regina A. Sherwood

Principal

Boston MA

[email protected]

617 747 9560

Dan Corr

Principal

New York, NY

[email protected]

212 345 5066

mailto:[email protected]



MERCER 2018

2017 – 2018

Chapter Sponsors Thank you

© MERCER 2018

AGENDA

2

TIME ACTIVITY PRESENTER

9:00 am Welcome / Introductions President-Elect Sujata Malhotra, CUNY

9:15 am Future of Work – Macro Trends Regina A. Sherwood Principal, Mercer

Career

9:40 am

What Does this Mean for You?

• Global Talent Trends

• Employer Strategies

• Creating a Compelling EVP

Regina A. Sherwood Principal, Mercer

Career

Dan Corr, Principal, Mercer Health

10:15 am Highlights from Mercer’s Higher

Education Talent Trends Survey


Career

Dan Corr, Principal, Mercer Health

10:30 am BREAK

10:45 am Breakout Sessions NYC CUPA Chapter Participants

11:30 am Bringing it Together – Implications

for HR


Career

11:45 am Wrap-up President-Elect Sujata Malhotra, CUNY

© MERCER 2018

WE HAVE BEEN ABLE TO DRAW UPON OUR

COMPREHENSIVE AND LEADING RESEARCH, SOME OF WHICH ARE

HIGHLIGHTED BELOW

3

When Women Thrive,

2014 and 2016, 2017

LGBT Benefits Around

the World

2017

Future of Jobs 2016;

Human Capital

Reports, 2013 and

2015

Generational Talent

Trends, 2016

Global gender research

undertaken by Mercer in

collaboration with Edge, as well

as global research on

identifying thriving

organizations

Research undertaken by

Mercer into benefits

provided to LGBT

employees

Building racially diverse

talent pipelines within the

financial services industry

Future-proofing HR,

Global Talent Trends

2016, 2017 and 2018

Global research undertaken

by Mercer identifying talent

management priorities

Research undertaken with the

World Economic Forum

investigating the most important

skill in demand for the future

workforce and the global talent

value chain

MERCER 2018 MERCER 2018

THE FUTURE OF WORK

MACRO TRENDS

© MERCER 2018

NEW JOBS ON THE HORIZON

5

65% of current primary

school children will end up in new

job types that don’t even exist as

yet

Source: Future of Jobs Report, World Economic Forum, 2016

© MERCER 2018

AI, Robotics and

technological advances

such as 3D printing are

disrupting industries and

redefining value chains

DISRUPTION IS STEALING THE HEADLINES

MERCER 2018

COULD ROBOTS REPLACE HR AND CEOS?

7

MERCER 2018

INNOVATIONS IN DISTRIBUTION – DISRUPTING LOGISTICS

8

https://www.youtube.com/watch?v=8gy5tYVR-28

© MERCER 2018

THE CHANGING EMPLOYMENT LANDSCAPE

9

Building awareness Getting organized Starting to accelerate

W H A T W E K N O W W H E R E W E A R E A T W H E R E W E A R E H E A D I N G

• Multi-generational Workforce

• Cloud Technology

• 3D Printing & Advanced

Manufacturing

• The Internet of Things

• Rise of the

Free Agent

• Automation, Robotics

• AI & Machine Learning

• Wearables

• Pay Equity

• Vocality of the

Female voice

Predictive Analytics

• AI adaptive systems that

anticipate needs

DISRUPTIVE TECHNOLOGY

INTERACTIVE DATA LAYER

INFLECTION POINT

AUGMENTED HUMANITY

• Longevity

• AI Board Directors

BIG DATA MANAGEMENT

• Rise of the

Individual

• Personas

• Blockchain

• Virtual

Assistants

© MERCER 2018 Source: 2018 Mercer Global Talent Trends

© MERCER 2018

Employment outlook across job families 2015 - 2020

WE KNOW DISRUPTION WILL IMPACT JOBS AND SKILLS

Source: Future of Jobs Report, World Economic Forum

Business and

Financial Operations Management

Computer and

Mathematical

Architecture

and Engineering Sales and Related Education

and Training

Office and

Administrative

Manufacturing

and Production

Construction

and Extraction

Arts, Design, Entertainment,

Sports and Media Legal Installation and

Maintenance

-4759 -1609 -497 -151 -109 -40

G R O W T H ( T h o u s a n d s )

+492 +416 +405 +339 +303 +66

© MERCER 2018

JOBS THROUGH THE GENDER LENS: DISLOCATION HAS THE GREATEST

IMPACT ON WOMEN

11 Source: Future of Jobs Report, World Economic Forum, 2016

© MERCER 2018

SEISMIC SOCIO-CULTURAL SHIFTS ARE UNDERWAY

The traditional family is fast becoming atypical

Rapid acceleration in longevity

Shifts in migration, racial and ethnic diversity

Changes in fertility and parenthood

The rise of the Free Agent

Importance of our digital identity 12

© MERCER 2018

—

E M P L O Y E E

—

—

H R

—

—

B U S I N E S S

L E A D E R S

—

THESE CHANGES ARE RAISING CRITICAL QUESTIONS

13

S T R AT E G Y

C A PA B I L IT IE S

L E A D E R S H IP & C U LT U R E

TA L E N T M A N AG E M E N T

E V P / TOTA L R E WA R D S

E N G AG E M E N T & E M P O W E R M E NT

C A R E E R A S P I R AT ION S

W O R K & L I F E D E M A N D S

S AV I N G S & R E T I R E M E N T

How can we

attract & retain

tomorrow’s

workforce?

How can we

build for an

unknown

future?

What does

career success

mean in

today’s world?

© MERCER 2018

© MERCER 2018

HIGHER EDUCATION HAS ADDITIONAL DISRUPTIONS

14

© MERCER 2018

INNOVATIONS DISRUPTING BUSINESS MODELS

15

WHAT DOES DISRUPTION MEAN TO YOU?

HOW IS HIGHER EDUCATION BEING

DISRUPTED?

WHAT WILL THE IMPACT BE ON FACULTY,

STAFF, AND SERVICING YOUR FUTURE

STUDENTS?


WHAT DOES THIS

MEAN FOR YOU?

GLOBAL TALENT TRENDS

© MERCER 2018

COMPETITION FOR TALENT

17

Globally, many countries are at or approaching a 10-year low in

unemployment rates

TIGHTENING LABOR

MARKETS

SKILL

MISMATCH

Current employees may not meet future needs due to technology

disruption changing the skills needed

COMPETIT ION FOR

TALENT

Employers must ensure they are poised to attract and retain

talent in a new era

© MERCER 2018

EMPLOYEES ARE LOOKING FOR MORE

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1 in 3 do not feel empowered in their careers

S T E E R I N G

M Y C AR E E R

53% want more focus on health

and wellness

H E ALT H AN D

W E L L N E S S

#1 way to positively impact me at work

C O M P E N S AT I O N I S

S T I L L K I N G

13 hours per month per employee spent worrying

at work

W O R RY I N G AB O U T

M O N E Y

M AK I N G W O R K

“ W O R K ”

56% want more flexible options and 77% would work on contract basis

Source: Mercer 2017 Global Talent Trends Report.

© MERCER 2018

C O M P E N S AT I O N • Internally focused

• Guaranteed increases

• Greater transparency

• Personalization

• Designing for outcomes

• Market driven

• Pay for performance

• Segmentation

and Differentiation

B E N E F I T S • Static

• Guaranteed/low cost

• Company responsibility

• Expanded offerings with

personalized decision support

• Focus on value-based care

• Higher cost

• Employee responsibility

W E L L - B E I N G

• Emphasis on well-being (physical,

financial, emotional)

• Focus on value on investment

• Emphasis on physical wellness

• Focus on return on investment

• Emphasis on whole person

(community, purpose)

• Focus on evidence-based outcomes

C AR E E R S • Staid and predictable career

options

• Stable, fixed and predictable work

schedules

• Employer-curated careers

• Rise of independent

contractors/free agents

• Employee-driven

career paths

• Flexible work arrangements

YESTERDAY TODAY TOMORROW

EMPLOYER OFFERINGS ARE SHIFTING

19

© MERCER 2018

I am paid fairly

My benefits are very good

I am very satisfied

with my job and career

I am very satisfied with

my organization

Globally, 1 in 3 employees say they are satisfied with their employers, but are still considering leaving

TRADITIONAL REWARD LEVERS AREN’T DRIVING RETENTION

20 Source: Mercer 2017 Global Talent Trends Report.

© MERCER 2018

PERMANENT FLEXIBILITY - THE EMPLOYEE EXPERIENCE

13% assess every job for its ability to be done

flexibly; most have ad-hoc arrangements

Only 3% of companies say they are Flex leaders 71% of thriving individuals say their

company offers them flexible work (compared

to 32% of non-thriving)

51% of all employees want more flexibility

BUT…

36% have had a request for flex

turned down

41% are concerned that flexibility will

impact promotional prospects

What's working?

• Managing on results, not hours (66%)

• Colleagues being positive (63%)

• Manager being supportive (59%)

• Ability to apply fairly to all employees

• Impact on teamwork and face-to-face collaboration

• Ability to measure and reward contribution

• Ability to manage career progression

• Impact on results/output

94% of HR have concerns

Source: Mercer 2018 Global Talent Trends Report. 21 © MERCER 2018

© MERCER 2018

TECHNOLOGY, BIG DATA AND ANALYTICS ARE TRANSFORMING THE

WORLD OF WORK

!

Algorithms are eradicating biases in job postings Social and chatbot data gives real time insights

Career management technology fueled by AI can make informed

development recommendations

VR is augmenting manager training – success seen in promoting

inclusion and highlighting work stress

22

© MERCER 2018

Do you have the

F U T U R E

WO RKFO RCE with

the skills you need?

Have you created

S TAY I N G P O W E R

with your employees?

Are you noticing

S Y M P TOM S of an

uninspiring experience?

Do you provide a

C O M P EL LI N G

E X P E RI E NCE for

your workforce?

Are you getting the best

R E T U R N O N

I NV E S TM E NT from

your rewards program?

ARE YOU READY?

23


CREATE A COMPELLING

EXPERIENC E FOR THE FUTURE

OF WORK

DEFINING A NEW EVP

© MERCER 2018

Define the employee experience that will make the right talent want to join, stay and deliver their best performance

C O M P E N S A T I O N B E N E F I T S

C A R E E R S W E L L - B E I N G

P U R P O S E

CONTRACTUAL

EXPERIENTIAL

EMOTIONAL

C U LT U R E

CREATE A COMPELLING EXPERIENCE TAKE A HOLISTIC APPROACH

25

97%

of employees want to be recognized and rewarded for a wider range of contributions

© MERCER 2018

GOAL Buy talent

WHAT DOES THIS MEAN FOR YOU? FRAMEWORK ADAPTS TO YOUR PEOPLE STRATEGY

GOAL Build Talent

GOAL Attract talent based

on mission

C O M P E N S A T I O N B E N E F I T S

C A R E E R S W E L L - B E I N G

P U R P O S E

26

© MERCER 2018

MAKING THE EMOTIONAL CONNECTION

27

Innovative brands communicate What’s unique about the work…

© MERCER 2018

ROTATIONAL

PROGRAMS

A WORKPLACE FOR ME: CAREER DEVELOPMENT

28

© MERCER 2018

A WORKPLACE FOR ME: MONEY MATTERS

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© MERCER 2018

A WORKPLACE FOR ME: HEALTH & WELLNESS

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© MERCER 2018

Promotional messaging, easy

access to information,

targeted alerts

H R O N

T H E G O

P U S H

N O T I F I C A T I O N S

O N B O A R D I N G

L I F E E V E N T S

A WORKPLACE FOR ME: PERSONALIZATION

31

© MERCER 2018

MULTI-PERSPECTIVE DATA-DRIVEN TARGETED ENGAGING

An effective strategy should consider the following:

CREATE A COMPELLING EXPERIENCE IT STARTS WITH A STRATEGY

32

© MERCER 2018

COST PERSPECTI VE

Are our programs affordable and sustainable?

M ARKET PERSPECTI VE

What are our competitors doing?

EM PLOYEE PERSPECTI VE

What do our employees value?

EM PLOYER PERSPECTIVE

What outcomes do we need?

CREATE A COMPELLING EXPERIENCE MULTI-PERSPECTIVE: VARYING DEGREES

33

© MERCER 2018

CREATE A COMPELLING EXPERIENCE DATA-DRIVEN: ANALYZE WORKFORCE BEHAVIORS

34

Human behavior is complex — we seek to “crack the code” for what will truly drive desired outcomes

Say What employees say, as measured through: Do How employees actually behave, as

measured through:

Leadership and HR

perspectives

Focus groups

Social media sites

Employee surveys

Exit surveys

Performance/

productivity

Engagement

Promotability

Turnover

Rewards program utilization

© MERCER 2018

CREATE A COMPELLING EXPERIENCE TARGETED: BASED ON UNIQUE NEEDS AND DESIRES

35

S T A R T E R S L O N G - T E R M

L O Y A L S

U R B A N

A M B I T I O N S S T R I V E R S

M A N A G E R I A L

C O R E

F R E E

A G E N T S

Provides multiple dynamic lenses to evaluate programs

Builds relevance into all programs to target

investments

Foundation for a personalized experience

Location

demographics Employee demographics Needs Interests Behaviors

Communication

preferences

Sample Personas

© MERCER 2018

CREATE A COMPELLING EXPERIENCE ENGAGING: CONNECT WITH ME AS AN INDIVIDUAL

36

“I’m confident”

I have what I need to understand where I am, and support to help

me take action

“I get it”

It’s simple. This experience feels as modern and familiar as the consumer sites I already

use

“I feel appreciated”

I can see the value of working here both now and

in the future

CONSUMER-GRADE

EXPERIENCE

DATA PRIVATE AND

SECURE

CAMPAIGNS THAT

DRIVE ACTION

CONTENT THAT IS

RELEVANT

E N A B L E D B Y A D I G I TA L P L AT F O R M

© MERCER 2018

CREATE A COMPELLING EXPERIENCE ENGAGING: AN EXAMPLE IN ACTION

37

Personalized and authenticated experience displays content relevant to the employee

Dashboards provide snapshots in three main topic areas (Wealth, Health, Career)

Quick links put access to the tools, resources and topics that employees use most frequently right on the homepage

Second-level dashboards provide additional personalized dashboards for employees


HIGHLIGHTS FROM MERCER’S

H IGHER EDUCATION TALENT

TRENDS PULSE SURVEY

© MERCER 2018

BOTH HIGHER EDUCATION & GENERAL INDUSTRY EXPECT INCREASING

COMPETITION FOR TALENT, BUT TO VARYING DEGREES

39

1%

28%

41%

31%

No increase in the competition fortalent

Some increase in the competition fortalent

Significant increase in the competitionfor talent

Variable changes, such as by job,level or job family

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Q: How do you expect the competitive landscape for talent to change in the next 1-3 years?

General industry: 92% expect an increase, both significantly and some

© MERCER 2018

BOTH HIGHER EDUCATION & INDUSTRY FOCUS ON DEVELOPING INTERNAL

RESOURCES, BUT INDUSTRY IS MORE LIKELY TO BUY/BORROW TALENT

40

64%

23%

2%

11%

Build talent with a stronger focus ondeveloping and promoting from within

Buy talent by recruiting from externallabor pools

Borrow talent by utilizing freelancers,contingent and/or contract workers

We do not plan to increase staff talentcapacity

0%

10%

20%

30%

40%

50%

60%

70%

Q: If you plan to increase staff capacity at your institution in the next 1-3 years, do you plan to*:

* Talent Trends survey allowed respondents to select more than one answer.

General Industry: Build 88% Buy 56% Borrow 38%

© MERCER 2018

NOTABLY, HIGHER EDUCATION’S TOP PRIORITY IS BUILDING A CULTURE

OF DIVERSITY AND INCLUSION

41

General industry:

1. Attracting top talent externally

2. Developing leaders for succession

3. Supporting employees’ career growth

4. Increasing employee engagement

5. Building skills across the workforce

59%

48%

47%

41%

39%

37%

36%

32%

27%

24%

20%

19%

16%

14%

14%

12%

9%

9%

6%

3%

Building a culture of diversity & inclusion

Improving the onboarding experience

Developing leaders for succession

Increasing employee engagement

Attracting top talent externally

Optimizing performance management

Ensuring equitable pay (gender/race/ethnicity, living wage)

Building skills across the workforce

Supporting employees’ career growth

Retaining culturally diverse talent at all levels

Ensuring rewards competitiveness

Ensuring employee health & wellbeing

Redesigning jobs (e.g., roles and responsibilities)

Moving towards greater pay transparency

Redesigning the organization (e.g., structure, reporting lines)

Strategically moving talent internally

Identifying high potentials

Increasing flexible work options

Retaining female talent at all levels

Attracting and retaining Millennials

Q: What will be your institution’s top talent management priorities in 2018? (Select 5)

© MERCER 2018

INSTITUTIONS EXPECT TO IMPLEMENT A VARIETY OF BENEFITS

PROGRAMS AND STRATEGIES IN THE NEAR FUTURE

42

10%

29%

44%

12%

51%

19%

14%

Concierge model wellbeingprograms

Consumer driven plans Voluntary benefits Onsite clinics Moving/enhancing onlinebenefits portal

We are not planning anychanges

Other (please specify)

0%

10%

20%

30%

40%

50%

60%

Q: What health and welfare programs/strategies do you anticipate implementing

in the next 1-3 years? (Please select all that apply.)


B R EA K O U T SESSI ON S – H OW A R E YOU

PR EPA R I N G ?

© MERCER 2018

BREAK-OUT SESSION #1

Discuss with your group the following topics/questions and be prepared to share it with the collective group

when we reconvene

BUILDING A NEW EMPLOYEE VALUE PROPOSITION

Mercer’s Point of View is that employers need to revisit their EVPs because they can no longer compete on

the contractual elements of compensation and benefits alone.

• What human resources’ initiatives have your organizations put in place or are working on to support the

pyramid components of compensation and benefits, well-being, careers, and mission?

• What would you like to put in place?

44

© MERCER 2018

BREAK-OUT SESSION #2


when we reconvene

BUILDING PERMANENT FLEXIBILITY FOR A NEW EMPLOYEE VALUE PROPOSITION (EVP)

Flexible working has been featured in every one of Mercer’s Global Talent Trends studies as a part of the

EVP, but this year’s findings of “Permanent Flexibility”, warranted a trend of its own.

• Do your organization’s have flexible work arrangements? Are there formal policies? Are they part of the

culture? Why or why not?

• How can we move beyond flexible working being CONTINGENT on individuals on life events, on people

putting their hands up, on managers saying yes?

We’ve continued to see the rise of the free agent – in Mercer’s 2018 Global Talent Trends Study, 78% of part-

time and full-time employees said they would consider working on a contingent basis.

• Does your organization embrace contract workers? Do you see this changing in the future? Do you have

the infrastructure to support varying work arrangements, while still developing a cohesive work

environment?

45

© MERCER 2018

BREAK-OUT SESSION: OPTIONAL


when we reconvene

BUILDING FOR AN UNKNOWN FUTURE AND CULTIVATING A THRIVING WORKFORCE

Mercer’s Higher Education Talent Trends Pulse Survey indicates that 59% of CHROs report that “building a

culture of diversity and inclusion” is one of the organization’s top talent management priorities in 2018

• Does your organization have mechanisms in place to hire diverse talent, build a wide range of skills and

leverage diverse perspectives across your campus communities? Discuss.

• Does your organization’s values and behaviors promote a climate of collaboration, inclusion and

contribution?

– What programs and/or infrastructure have been put in place to support this strategy?

– What would you like to implement at your organization to support diversity and inclusion efforts if

budgets, resources, and leadership consensus were all available to you?

46


B R I N GI N G I T TOGETH E R –

I M PL I C AT I O N S FOR H R

© MERCER 2018

BUILD DIVERSE

TALENT POOLS EMBRACE THE NEW

WORK EQUATION

ARCHITECT

COMPELLING

CAREERS

SIMPLIFY TALENT

PROCESSES

Expand the use of analytics to identify

talent flow opportunities and pinpoint key

drivers of change

Rethink talent acquisition through

innovative sourcing strategies, informed

skill matching, and new worker profiles

Build for tomorrow via experience-based

development interventions focusing on

diverse population pools and emerging

competencies

Recognize “one size fits one” and

build a growth culture that

supports flexibility, development and

autonomy

Create an environment where

employees feel valued and have

transparency around pay, feedback

and progression

Rethink how managers are

incentivized to identify, develop,

and export talent

Design career frameworks to

reconcile the organization’s succession

needs & individuals’ expectations of

career direction and velocity

Stimulate talent movement in

intentional and systemic ways by

making careers fun and focusing on

mobility & development programs

Enable managers to hold meaningful

career conversations with their

employees

Challenge existing talent

management processes and

technology to reduce duplication

– aim for short and intuitive

Align performance management

fundamentals with the

organization’s business model

and rewards philosophy

Reimagine employee

interactions to promote a positive

brand experience

Source: Mercer Talent Trends, 2016

HR PRIORITIES TO SUPPORT TALENT SUCCESS

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the future of work - cupa-hr chapter resources...future-proofing hr, global talent trends 2016, 2017...

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