Winning the war for digital talent
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By 2017, 25% of organisations around the world will lose market position because of their failure to incorporate digital capabilities into their business or to respond to what employees want from their employers in a digital environment (Gartner). ORC International has taken on the challenge and defined ways for your organisation to win the war for digital talent.
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Winning the war for digital talent
- 1. #EEwhatsnext Learning to attract, motivate and retain digital talent HOW TO LOSE THE WAR FOR DIGITAL TALENT
- 2. TALENT TRENDS Winning the War for Digital Talent | 2016 By McVal Osborne, Head of Strategy UK & Sally Winston, Head of Employee Research
- 3. Over 20 market research surveys Hundreds of articles and blogs Nearly 30 industry experts THIS MONTH’S REPORT…
- 4. FIRST… WHAT DO WE MEAN WHEN WE SAY DIGITAL TALENT?
- 5. DIGITAL TALENT IS THE ABILITY FOR EMPLOYEES AND BUSINESSES TO USE DIGITAL EQUIPMENT AND TO ACCESS, CREATE OR SHARE DIGITAL INFORMATION VIA THE INTERNET AND THEREBY BENEFIT FROM OPPORTUNITIES IN THE MODERN ECONOMY
- 7. 4,400,000 IT jobs have been created to support Big Data WORLDWIDE IT SPENDING WILL REACH $3.8 TRILLION BY 2020 THE IT SECTOR IS GROWING RAPIDLY AND DEMAND FOR TALENT IS OUTPACING SUPPLY…
- 8. LACK OF DIGITAL TALENT WITHIN ORGANISATIONS IS A MAJOR AREA OF CONCERN… and 90% OF COMPANIES SAY THEY LACK DIGITAL SKILLS IN THEIR WORKFORCE.
- 9. WHAT DOES IT TAKE TO WIN? 01. ATTRACT THE RIGHT PEOPLE AT THE RIGHT TIME 02. MOTIVATE THEM BY FOCUSING ON THE BIGGER PICTURE 03. RETAIN THEM BY INVESTING IN LEARNING AND GROWTH
- 11. / Kris Duggan, CEO of BetterWorks / Digital workers are more connectedto the world aroundthem, by thenature of their expertise. “ ”
- 12. 1. FIGURE OUT WHAT MATTERS. Foosball tables only go so far. Companiesthatoveremphasise perks are missing the point. Candidateswant to be challengedand told what theirimpactwill beon the business. “ ” / Leela Srinivasan, former LinkedIn employee and current CMO of Lever /
- 13. 2. KNOW WHERE TALENT LOOKS.
- 14. 3. USE THE RIGHT TOOLS.
- 15. 4. ASK THE RIGHT QUESTIONS. What isyour current digital footprint? What do candidates see when they search for your company online? What do candidates experience when they interact with your brand and your team online?
- 16. CONDUCTING INTERVIEWS INAN OPEN AND TRANSPARENT WAY REDUCES CHURN AND RAISES RETENTION 5. ADAPT YOUR PROCESSES. COMPANIES FALL DOWN DURING THE INTERVIEW PROCESS INTERVIEWERS SHOULD ALL BE ON THE SAME PAGE
- 17. MOTIVATION 02.
- 18. / David Barrett, CEO of Expensify / Really good people are always incredibly in demand. Anyone that is truly amazing only has to look for a job once. “ ”
- 19. TIMES ARE CHANGING. DIGITAL TRANSFORMATION SIGNALS A NEW WAY OF LOOKING AT TALENT. SHIFTS NEEDED TO CREATE A “DIGITALLY-READY” CULTURE From To Internally competitive Collaborative Results focused Purpose focused Afraid to fail Celebrate testing and learning Inward focused Outward focused Employees imposed on Employees empowered
- 20. TO MOTIVATE DIGITAL TALENT, CONSIDER WHAT MOTIVATES EVERYONE. BELONGING ESTEEM SELF-ACTUALISATION
- 21. LEARNING FROM FACEBOOK. FIVE KEYS TO ENGAGING DIGITAL TALENT. 1. Fulfilment. Members of the new digital talent force want to do more meaningful work 2. Aptitude & Expertise. Employees with digital talent play to their strengths 3. Authenticity. Employees should be encouraged to be authentic at home and work 4. Learning. Provide opportunities to learn new skills 5. Initiative. Employees with digital talent are hackers and experimenters
- 22. RETENTION 03.
- 23. / Jonas Prising, Chairman and CEO Manpower / More than ever, individualswillpursuecareers with multiple employersrather than ajobfor life. “ ”
- 24. Nearly half of employees see moving jobs every few years as the best way to advance their careers of millennials expect to have a new job by 2020 IT IS BECOMING HARDER TO RETAIN TOP DIGITAL TALENT. JOB HOPPING HAS BECOME THE NORM, ESPECIALLY FOR MILLENNIALS. 2/3
- 25. 1. BUILD A DIGITAL TALENT POWERHOUSE Hire early Be selective Invest in talent Start with the right people
- 26. 2. MAKE CONNECTIONS BETWEEN WORK & BUSINESS IMPACT 65% RETENTION Nearly two thirds of employees feel more loyal towards businesses with Purpose Link Employee & Company Objectives Find Your Purpose
- 27. 3. COLLABORATE, INVEST AND BE FAIR Increase information sharing Improve retention Drive transparency
- 28. CONCLUSION THE STARTING POINT. Find the right people at the right time GOING FORWARD. Invest in learning and growth Winning the war for digital talent means finding the best people early on, motivating them by focusing on job impact and retaining them through investment in learning and advancement. THE NEXT STEP. Focus on the bigger picture
- 29. TIME FOR DISCUSSION… What does digital talent mean to you? 1. Is it hardest to attract, motivate or retain talent? 2. Are you winning the war for digital talent? 3.
- 30. AUTHORS Sally Winston Global Head of Employee Research Sally.Winston@orcinternational.com McVal Osborne UK Head of Strategy Mcval.Osborne@orcinternational.com Want to learn more about digital talent trends? Click here to get the “Winning the War for Digital Talent” infographic!
- 31. BRINGING IT ALL TOGETHER We hope this report gives you some really interesting food for thought on the issue of digital talent. If you need more help we’d love to provide it! Here are just a couple of ways we can help 1. If digital talent is a key issue for your business, our employee research team can bring this report to life in a workshop setting – helping your team create a plan of action tailored specifically to your organisation. 2. Beyond digital talent, our strategy team can provide competitive insights and future trend forecasting on any issue you have. If you have a burning question you’d like us to answer we can do this for you in as little as 48 hours. Click here to find out more!
- 32. YOU HAVE A VISION. WE CAN HELP YOU GET THERE. Find out more
- 33. Thank you!
Hinweis der Redaktion
- ORC Talent Trends is a quarterly report on current research, news and expert opinions taken from thought leaders, multinational organisations and start-ups around the world. Each report focuses on an issue that is likely to affect your business in the months and years ahead and how you create the right experience to attract, inspire, enable and retain talent. For the first quarter we decided to make the theme of our report ‘Winning the War for Digital Talent’.
- Recent conversations with our clients and industry experts suggest that this issue is weighing heavily on the heads of talent acquisition, engagement and retention teams in organisations around the world. Whether you are a high-tech start-up or a 100-year old corporation, advances in technology are changing the way that every industry functions. You must embrace digital trends in order to survive. Ultimately, your ability to attract, motivate and retain digital talent will determine your ability to succeed in the marketplace. Over the last several months, we compiled research from numerous reports, articles and blogs on the topic of digital talent (and the widening digital talent gap). We also spoke with industry experts and stakeholders from both digital-focused and more traditional companies to uncover the driving forces affecting how companies attract, motivate and retain digital talent. We consolidated the key findings from over 20 market research surveys and management consulting reports and analysed hundreds of articles and blogs relating to trends in employee attraction, engagement and retention in the digital world. We also spoke with over 30 industry experts (ranging from the CEO of a multinational steam cleaner company to founders from some of the fastest growing technology start-ups in the Silicon Valley) about the challenges associated with attracting and retaining talent in the digital age.
- Over the next several slides, we will be talking about the growing need for digital talent in the workplace… and the barriers to finding that talent. We will also be outlining high-level findings on best practices on how to attract, motivate and retain digital talent. But first… we need to define what we mean by digital talent. “For the purposes of this report, we will define digital skills as the attributes that allow employees and businesses both to use digital equipment and to access, create or share digital information via the internet and thereby benefit from opportunities in the modern economy.”
- THE DEMAND FOR DIGITAL TALENT WILL INCREASE The rapid growth of digital platforms and technologies like Virtual Reality (VR) and the Internet of Things (IoT) has shown us that the future is anything but certain. Businesses that have been open for 100 years have been forced to close their doors due to changing macroeconomic environments, while tech giants founded 10 years ago have received valuations well over £1 billion and have expanded into every sector of the economy. It is clear that digital transformation is reshaping how businesses function on the whole. Those that underestimate the influence of this global shift towards digital will feel the effect on their bottom line. Worldwide IT spending is forecast to grow 1.5% in 2016, up from $3.4 trillion in 2015. By 2020, spending is forecast to approach $3.8 trillion in current dollars. (Gartner) There have been over 4.4 million IT jobs created around Big Data, but only a third of those jobs have currently been filled. (Cap Gemini) 25% of organisations will lose market share because they can’t incorporate what their customers or employees expect in a digital environment. (Gartner)
- COMPANIES AREN’T PREPARED 90% of companies lack digital skills in their workforce. (CapGemini) Less than half of companies are investing in developing digital skills. Only 46% of companies are investing in developing digital skills. (CapGemini) 4% are aligning their training efforts with their digital strategy. (CapGemini) 9 out of 10 executives said their companies had a pressing need for digital talent. (McKinsey)
- To win the war for digital talent, you must first get the right people in the door. The best talent is often happily employed, but candidates are open to talking to recruiters about an opportunity if the time is right. According to LinkedIn, one third of currently employed workers are actively looking for a job, while 90% are willing to have a conversation with recruiters. The digital workers of today are extremely talented and highly motivated, and they will be attracted to organisations that can challenge them to reach new heights and to learn new skills. I’d like to read a response I received from Kris Duggan, the CEO of BetterWorks, via an email, when we spoke about the challenges to attracting the right digital talent: “Digital workers are more connected to the world around them, by the nature of their expertise. They can read your Glassdoor reviews. They can find someone on LinkedIn who works for your company and ask them questions about your company culture. They can also find out if you’re paying average salaries, or above or below the market rate. All this information about your company exists, which is great for the employee but also creates a greater hiring challenge, as you have to find employees that truly are an excellent fit for your culture.”
- The secret to motivating and engaging digital talent in the workplace is not really a secret at all. In fact, after having spent an exhaustive amount of time reviewing published reports and speaking with the CEOs and heads of HR at companies around the world, it is clear that that many of the best practices for engaging with and motivating talent in the general workforce are also integral for motivating digital talent. Think back to Abraham Maslow’s famous 1943 paper titled "A Theory of Human Motivation" which appeared in The Psychological Review. In it, Maslow described five different factors of motivation that humans generally relate to: physiological, safety, love & belonging, esteem and self-actualisation. He later published a critic of his own work in 1969 that spoke of a sixth motivating factor, self-transcendence, to describe the motivation to give oneself to a higher goal, in altruism or spirituality. Belonging. Make sure your company’s digital talent feels that they are part of the broader group. Employers can do this by creating more opportunities for collaboration and teamwork across various departments. Esteem. Digital talent should be given opportunities to share their expertise with others. This may come in the form of encouraging digital team members to build their own personal brand by blogging about trends, or by having each digital worker train up other members of the organisation on a new platform. Self-actualisation. Give your digital-centric employees the opportunity to discuss their career path. Make sure that your digital talent has access to a mentor or is offered some type of career counselling. The path to self-actualisation is long, but by providing opportunities for your employees to communicate their hopes and dreams to someone within the company, they will grow closer to that goal, all while continuing to work for your organisation.
- LEARNING FROM FACEBOOK. FIVE KEYS TO ENGAGING DIGITAL TALENT. Fulfilment. Members of the new digital talent force want to do more meaningful work, and they strive to be part of something that will have a positive impact on the world. Aptitude & Expertise. Employees with digital talent tend to play to their strengths, looking for opportunities to optimise their productivity by achieving what the renowned psychologist Mihaly Csikszentmihalyi calls a “flow state”. Authenticity, creativity and transparency. Employees should be encouraged to be authentic and express themselves openly at home and at work. Learning. Employees should be given opportunities to learn new skills and expand their knowledge through real-time feedback, regular coaching and stretch development opportunities. Initiative. By their very nature, employees with a degree of digital talent are hackers and experimenters. They like to tinker, and are often looking for ways to make things better.
- “More than ever, individuals will pursue careers with multiple employers rather than a job for life. The Haves, with sought after talent, are in a better bargaining position and able to manage their own careers. The Have Nots, those without in-demand skills, feel increasingly disposable and marginalized. Employers will have to work harder to drive engagement and productivity especially among the Rest of Us. Employers will need to shift mind-sets and provide more tools, support and opportunities so workers choose them as the workplace to upskill and stay relevant.” / Jonas Prising, Chairman and CEO Manpower /
- IT IS BECOMING HARDER TO RETAIN TOP DIGITAL TALENT. JOB HOPPING HAS BECOME THE NORM, ESPECIALLY FOR MILLENNIALS. The next wave of digital talent will be made up mostly of millennials, and many of the behaviours associated with this generation will hold true for the digital talent currently entering the workforce. Millennials are more likely than most to hop between jobs after only a year or two at a company. The same holds true for digital talent. In fact, the incentive for digitally-talented employees to job hop is even greater, as they are highly sought after by recruiters and head hunters. This trend is hardly unique to the millennial demographic. According to ORC’s 2016 What Makes a Winning Workplace report, 42% of employees said they would rather move employment every few years in order to get the best career opportunities than stay with their current employer and work their way up the ranks. According to Deloitte’s global 2016 Millennial Survey, two-thirds of millennials expect to have a new job by 2020, with 25% planning on leaving their job in a year. 71% of those likely to leave in the next two years said they were unhappy with how their leadership skills were being developed — 17% higher than among those intending to stay beyond 2020.
- EMBRACE OPPORTUNITIES FOR COLLABORATION. INVEST IN MENTORSHIP AND TRANSPARENCY. Collaboration: Though digital talent is sometimes considered separate from the rest of an organisation, business innovation and collaboration rarely occurs in a vacuum. By building connections and sharing information with other parts of the company, employees can get a better picture of the organisational structure of the broader business and come up with better solutions to business problems. STRENGTHEN networks and connections within the organisation with mentorship programmes, training courses and social events Investments: Employees in the new digital talent economy are hungry for knowledge. Free information has never been more readily available, yet companies provide surprisingly few opportunities for personal development and career advice to employees looking for guidance. Companies that provide advisory services related to career development can increases employees’ intent to stay by 37% Be Fair: Fairness and transparency go a long way in helping to retain and motivate members of the new digital talent pool. Digitally-adept employees want to be treated fairly by their employers both in terms of compensation and advancement opportunities. They want to be rewarded for their hard work and productivity, and they want those that don’t pull their weight to be punished. Consider merit-based compensation, promotion and advancement structures
- Helping our clients see the bigger picture, predict the future and gain a competitive advantage.