Apt Solutions

Downturn Triggered Employment Trends -
Are you Ready?

“Sometimes not ready just means we’re not ready but other times it’s an alibi for we have no idea what to do” shares a corporate Human Resources leader who’d prefer to remain anonymous. Whether you are prepping for a corporate planning session with the Board or creating a personal Career Map, understanding the trends and defining a plan will help you to succeed in the years ahead.

Adding Years to Careers:Depleted pensions funds, shrunken retirement accounts, and underwater home values signal delayed retirement for the Baby-boomers, and perhaps, a shorter life-span. The implications extend well beyond tenure; as workers seek to extend their productive years and gain flexibility, employers will be able to construct fundamentally different and new approaches to employment and compensation.

Board Room: Analyze current workforce demographics. Assess the impact of delayed retirement or part time job sharing- will greater availability of experience support your business strategy? Deconstruct teams and roles- What tasks rely on experience vs. skill, cycle, volume? Can you cross train across ranks or re-structure to enhance impact and lower cost?

Career Map: Analyze your market value and flexibility. Are your skills transferable across industry and role? Do you have specialized expertise or experience that remains in short supply? Diversify your employment portfolio – what other lines of work interest you? Take advantage of company sponsored training courses and tuition assistance.A

Plethora of Personnel:Will the “War for Talent” be replaced by the ‘Campaign for Capability’? As the EU votes to protect mandatory retirement, there is recognition that the prophesied 2010 labor crisis is a “no show”. The downturn has triggered entitlement cuts and performance ranking, but the processes by which companies manage performance, incent loyalty and support career development are predicated on scarcity, and will require sweeping change.

Board Room: Evaluate short, middle and long term total rewards strategy. Can you be more creative in aligning pay with performance? What opportunities does the new skills market open for you? What obstacles to change and flexibility are embedded in your current operations? How will increased tenure impact processes and cycles for succession and progression?

Career Map: What skills and experience are important to continued growth in your career? What training, education and experience resources can you leverage to build your skills? What sets you apart from the rest? How can you do to increase your value in a plentiful talent market?

YUFE’s- Young Unemployed Forlorn & Educated:While Emily, Satish and Hemut were investing in an education, the jobs dried up. How will the young and educated manage and what happens when a generation feels gypped? Employers may enjoy the shift away from the “free agent” demands of the millennial worker, but will be challenged to incent innovation. Expect razor-sharp employer branding.

Board Room: What is your employer brand (not just its name)? Are you using up-to-the-minute technology, social networking or philanthropy? Just how transparent is your strategic agenda? Apply creativity to trigger an emotional connection. Communicate!

Career Map: Define your personal brand. What are you looking for in a job - pay, security, time-off? How can you build your skills? Aggressively volunteer. What employer is a “fit” for you? Hit the career office and alumni associations and network. Relocate for the right opportunity. Be passionate.

The Multi-Local: Business with Borders:Today’s business offers a “global footprint”, with cost-effective service support and an integrated supply chain. Technology speed, management focus and labor arbitrage supports the continued spread of outsourcing and globalization. But as expats are called home and travel reduced to save cost and carbon, companies and their leaders will be challenged to connect communication and vision. Expect the emergence of new approaches to leader development.

Board Room: Evaluate supply chain for quality and cost. Mandate efficiency, set measures and anticipate the implications. How will you provide leadership visibility and relevance across the organization? What mechanisms can be leveraged or developed to enhance communication and unify purpose?

Career Map: Expand your universe-identify what’s happening outside of your local market. Consider your “personal brand”. Define and develop your perspective as well as your skills. Open yourself to new opportunities. Travel.

The Moral Capitalist:Austerity may reduce Corporate Social Responsibility (CSR) spending, and slow employers’ efforts to “go green”, but don’t expect these programs to die completely. A new ‘moral order’ is emerging, and this wholesale shift in values places greater emphasis on long-term sustainability. Both stylistic and substantive change to corporate tracking, reporting, communication and investment will accompany a shift away from “quarter-to-quarter” management, and with it, a change to the accepted criteria for individual success.

Board Room: Evaluate your culture. Does your culture embrace a long term vision of success or only celebrate periodic wins? What tools and patterns should be altered to support sustained growth? Are you doing enough for the community? What does ‘Go Green’ mean at your organization?

Career Map: How are you impacting your business, society, family and community? How long is your view / narrow is your focus? Broaden your perspective by considering your career impact, even across multiple organizations. Extend your reach- volunteer, network, teach, read. Get involved.