Welcome to the January 2, 2008 issue of The Total View
Published by Success Performance Solutions, Written by Ira S. Wolfe
Visit our Human Resources Blog and Perfect Labor Storm Blog where we can post daily (and more often) human resource updates, news, and Perfect Labor Storm facts.
What's Inside this issue of The TotalView:
1. 8 Workforce Trends for 2008
2. Perfect Labor Storm Warnings
3. Assess Expert System for Management and Leadership
4. Test Drive JobClues - Unlimited 12-Month Use for as little as $1250!
5. Speaking Schedule
6. Quotes from the Hire Authorities
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Happy New Year !
On behalf of everyone at Success Performance Solutions, I wish you, your employees, and your families a very happy and prosperous, healthy New Year. We look forward to working with you in 2008.
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1. Eight Workforce Trends for 2008
Wow! It's 2008 and nearly 10 years since I first wrote about The Perfect Labor Storm. My emotions are torn between "that's hard to believe" and "where did the time go?"
At that time I made several references to 2008, none more monumental than this coming year would be the leading edge of the "impending" baby boomer retirements. While today we know there will not be a mass exodus, 2008, at the very least, is the year that the oldest baby boomers are eligible to collect Social Security. This year is a date that most politicians and bureaucrats believed would never come (See "Quotes from Hire Authorities" below).
Back in 1998, predictions of dire employee shortages dominated the media including my newsletter. But thanks to significant improvements in employee productivity, 10 million jobs are not going wanting for mere warm bodies to fill them.
That however doesn't mean these warnings were all hype, no substance. Just ask any employer who is finding the execution of his/her strategic plans falling short due to a lack of skilled workers, both in the field and in the board room.
During the past year, we experienced a dramatic increase in business. I can trace much of it to a single source: employers are struggling to find the right people to fill key positions in project management, operations, sales and leadership. For the first time they have experienced lost opportunities, delays in implementing business plans, and failed leadership and ownership succession due to hiring or grooming the wrong person - and they haven't been able to find replacements. In some cases, these replacements have been slow and difficult to find. In others, they just don't exist! (or at least it seems that way.)
That leads me to my #1 prediction for 2008. I predict this skilled worker shortage trend will not only continue throughout 2008 but that this coming year will merely be the first wave in a cascade of skilled worker shortages that will forever change the way employers do business.
Successful business leaders however are not just sitting idly by waiting for the Perfect Labor Storm to smack them down. As a result of this skilled worker shortage trend, I predict that these 7 additional management trends will continue to gain momentum in 2008.
- 2. More Selective Hiring and Promotion. Once (and sometimes twice and three times) burned, more employers are using Strategic Success Hiring. What's Strategic Success Hiring? It's a process to hire (and promote) employees who have the skills, abilities and potential to be innovative at a faster pace in a more complex and competitive business marketplace. Better selection means more organizations will improve their screening, interviewing and selection. In addition to improving behavioral interview techniques, more organizations will be using screening and selection assessments for every position from the low-wage hourly employee to CEO. A trend that began in 2007 with no end in sight in 2008 is that more managers are recognizing that tools like DISC are just not predictive enough with so much at stake to hire key people. Managers are demanding more accurate new-hire evaluations and competency-focused assessments. Powerful tools like ASSESS and Prevue are becoming commonplace in a manager's hiring toolbox.
- 3. More Aggressive Recruitment. Raising the bar in a scarce job market means traditional recruitment strategies are dead. Finding skilled employees who can do the job plus collaborate with multiple teams and fit in your culture will require aggressive and innovative recruitment solutions. A few of the solutions gaining acceptance (especially for small business) include online applicant processing systems and recruiting through social networking sites like MySpace, Facebook and Linkedin. Employers in 2008 will also experience more "poaching" of their employees from the competition - inside and outside their industry.
- 4. Performance Management Will Become The Competitive Edge. Employers are finally getting it - performance management is not just a buzz-word for annual performance review. Rewriting and re-formatting the dreaded annual review form is not improving performance management. Performance management is a strategic solution, driven by senior management (not HR), that helps ensure every employee is measured for his/her contributions toward achieving business goals and objectives. Several recent studies have demonstrated strong links between measuring managing employee performance and increased profitability, top-line growth, and reduced turnover. More businesses will begin to take performance management seriously in 2008. It's easier said than done and will take much of the year to implement. But watch out for these businesses in 2009 and beyond - they will dominate.
- 5. Leadership Gaps Will Grow. Like the problems I mentioned earlier with hiring for key management and sales positions, many executives and owners have learned the hard way that many of their successors have not lived up to their billing. And when they looked down their bench, they found their depth charts very weak. Like performance management, leadership development and executive coaching will finally be given credence as a strategic investment, not just an optional HR training exercise or remedial development for under-performing managers.
- 6. HR Will Be Measured Closely. Up until now, HR for many businesses is held no more accountable than a college kid living on Daddy's allowance and credit card advances. 2008 will see a change in how the efficacy and efficiency of HR is measured. Metrics such as recruiting efficiency and profit per employee and hiring satisfaction will replace ineffective measures such as turnover rates and cost to hire.
- 7. Gen Y Training a Wise Move. While many managers are still hung up on how to manage the independence and mobility of Gen X, here comes Generation Y. For the first time in history, four generations are working side-by-side and the recipe has all the makings of a firecracker with a short fuse. Recognizing that combining the knowledge of their older workers with the innovation and vibrancy of younger workers is a key competitive advantage, more and more organizations are attempting to capture the energy of such a diverse workforce and channel it into productive behavior. I expect to see a rising demand for generational training.
- 8. Salaries - Up, Up and Away. The scarce pool of talented workers has made this a seller's market. Skilled workers are demanding more pay and benefits and getting it. Like any situation where demand outstrips supply, higher salaries are only to be expected. But as the saying goes, "you get what you pay for." To ensure managers are actually getting what who the candidate says he is, pre-employment testing and background/reference checks are becoming the norm, not the exception.
There you have it - 8 trends for 2008. Will I be right? Can you afford to be wrong? Only time will tell but you can stay ahead of your competition by resolving to read updates in The Total View every week in 2008.
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2. Perfect Labor Storm Warnings 
Every day I receive dozens of stories highlighting
another shortage of workers. Each week I'll post
one or two of the more interesting ones. This week's
post is:
"More than half of our study participants indicate the inability to rapidly develop skills is a primary workforce challenge and more than one-third state their employees' skills are not aligned with their current organizational priorities."
Source: Unlocking the DNA of the Adaptable Workforce: The Global Human Capital Study 2008 (IBM)
Read more about other causes of skilled worker shortages in the NEW Perfect Labor Storm 2.0 (soft and hard cover versions)
Now on Sale! Perfect Labor Storm 2.0 (soft and hard cover versions)
Order today and save 25%.
NEW Chapters! Generational Conflicts in the Workplace, Managing the Future Workforce, Attracting Young Employees in a Seller's Job Market plus hundreds of new facts, trends and stats.
View Table of Contents
Save 25% off retail by ordering now.
Hard Cover: $29.99 Soft Cover: $19.99
Your Price: $22.49 Your Price: $14.99
To order Perfect Labor Storm 2.0, call 800.803.4303. Discounts for orders of 10 or more. Specify hard or soft cover.
3.
Assess Expert System for Management and Leadership
Assess Expert System is a premier psychometic employee evaluation tool that will take the guesswork out of hiring and promoting key employees. A state of the art web-based system, ASSESS produces job specific reports linking key personality traits to managerial and executives competencies. Every selection report comes with a customized behavioral interview guide and every development report
includes performance improvements tools and tips customized to the employee, based on his/her responses.
ASSESS Expert System assists management in the selection of outside candidates and in the promotion, placement or development of internal managers, supervisors and professionals. The assessments provided are industry-standard, and each item has been carefully validated and documented.
Click here for more information about ASSESS.
4. Test Drive JobClues - Unlimited 12-Month Use for as little as $1250!
Try JobClues ... a state-of-the-art, fast, affordable assessment tool guaranteed to help you make smarter, more informed hiring decisions.
Take the test yourself ... you'll be amazed at the accuracy of the assessment results ... and you'll immediately see how this tool will give you keen insights into a candidate's abilities and "fit" for the job you want to fill.
For a FREE JobClues report, click here or call toll-free at 800-803-4303 about our special unlimited use pricing.
5. Speaking Schedule: Ira S Wolfe
2008:
January 21 - Institute of Management Consultants (Dallas, TX) - Workforce
Trends That Change The Way You Will Do Business
January 22 - Optimance (Dallas, TX) - Workforce Trends That Change The Way
You Will Do Business
March 4 - Hiring Right is Not Kid's Play: Fitting the Right Pegs in the Right Holes
Business Solutions "On the Road" Harrisburg Regional Chamber.
Location TBA
October 2008 - American Staffing Association Annual Meeting - Workforce
Trends That Change The Way You Will Do Business
Call 717.291.4640 to schedule Ira for your next meeting or conference.
6. Quotes from Hire Authorities
" I think Social Security is off the table for the foreseeable future. We have so many other, more pressing and more immediate problems, and we ought to focus on the ones that are immediate, not the ones that are 20 years out."
Newt Gingrich, upon becoming Speaker of the U.S. House of Representatives in 1994.
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Ira S. Wolfe Copyright 2007 - All Rights Reserved. Reprints and other distribution by permission |