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Entering the Age of Talentism 45 th Annual Forum Stephen Cryne President & CEO CERC.

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Presentation on theme: "Entering the Age of Talentism 45 th Annual Forum Stephen Cryne President & CEO CERC."— Presentation transcript:

1 Entering the Age of Talentism 45 th Annual Forum Stephen Cryne President & CEO CERC

2 Agenda Drivers of Talent Mobility From Tactical to Strategic Good Practices and Organizational Strategies Q & A

3 About CERC Established in 1982 Canadas leading authority on talent mobility – Research – Advocacy – Education – Knowledge Transfer Membership includes many of Canadas top FP100 companies

4 Drivers of Change Demographic changes Globalization of trade and human capital mobility Transformation to knowledge based economies 4

5 Drivers of Change The success of any national or business model for competitiveness in the future will be placed less on capital and much more on talent …the world is moving from capitalism to talentism Klaus Schwab, Founder and Executive Chairman World Economic Forum, 2012

6 Canadas Population Growth HRPA Talent Pipeline Conference April 19, 2012 Source: Urban Futures Institute

7 Population Aging Canadas aging population Source: Statistics Canada

8 Population Aging Courtesy Economist Magazine

9 The Shrinking Workforce *2025 total population Source: UN population prospects, 2008

10 Labour Force Growth Between , Canada created 3 million net new jobs – a 23% increase. Between 1991 – 2001, immigration accounted for 70 per cent of Canadas workforce growth Immigration will account for all workforce growth over the next decade 2.1 workers supporting 1 retiree

11 Employment Trends Canadian employers have created over 700,000 net new jobs since July 2009 Source Statistics Canada

12 Employment Trends Canadas Unemployment rate = 7.2 % HRPA Talent Pipeline Conference April 19, 2012 Source: Statistics Canada

13 Employment Trends HRPA Talent Pipeline Conference April 19, 2012

14 Talent Index HRPA Talent Pipeline Conference April 19, 2012 Heidrick Struggles Global Talent Index Report

15 US Employment Trends HRPA Talent Pipeline Conference April 19, % 8.4% 7.2% 4.2% 2012

16 Employment Forecasts 25 million new workers needed in the US by million job openings in B.C. by % will require secondary education 800,000 new Oil Sands jobs over next 20 years / $250 billion investment 25 million – new workers needed in EU by 2030 $1.8 trillion investment in Australias mining industry – 750,000 new jobs HRPA Talent Pipeline Conference April 19, 2012

17 Employment Forecasts HRPA Talent Pipeline Conference April 19, 2012 Human Resources and Skills Development Canada

18 Employment Forecasts HRPA Talent Pipeline Conference April 19, 2012

19 Talent Mobility is Key

20 Recommendations for Government Develop a talent mobility blueprint Lead cross-border collaboration with other governments Share access to labour market data / forecasts Develop a framework for a collaborative approach to talent mobility

21 Recommendations for Organizations The Talent Mobility function is often viewed as being transactional role Leading companies see Talent Mobility as a strategic opportunity to create a competitive advantage & grow new markets Talent Mobility is a strategic function that supports business objectives HRPA Talent Pipeline Conference April 19, 2012

22 Aligning Mobility and Business Strategies 88% of companies said it was important, or critically important to align their global talent mobility strategy with their business strategy But only 2% feel that current programs are aligned Only 35% of respondents believe senior executives understand the role of global mobility Deloitte, Strategic Moves January 2012 HRPA Talent Pipeline Conference April 19, 2012

23 From Tactical to Strategic Align the talent mobility programs with the organizations talent and strategic business objectives Talent Acquisition and Retention Talent Development (Individual & Strategic) Leadership Development Compensation Performance (Business and Individual) Return on Investment Finance/Budgeting Tax Planning/ Compliance/ Reporting (Corporate and Individual) Security, Travel Systems (HRIS) HRPA Talent Pipeline Conference April 19, 2012

24 Good Practices in Talent Mobility

25 Global Mobility Essentials Career Development Strategic Opportunity Volunteer Skill Need (management or technical) DEVELOPMENT VALUE BUSINESS VALUE

26 The Assignment Lifecycle Candidate selection Pre- Assignment On Assignment RepatriationRedeployment HRPA Talent Pipeline Conference April 19, 2012

27 Good Practices CERC 2011 Survey 90% track assignment costs 90% have formal relocation program 60% pre-qualify candidates 51% have specific International global mobility program CERC Employee Relocation Policy Survey, 2011

28 Repatriation Practices 82% track success of assignment 1/3 of companies have a formal repatriation program 50% of those include career planning 28

29 Tactical to Strategic 2011 CERC Employee Relocation Policy Survey 88% of companies have a formal mobility policy The (HR) management objectives that mobility policy supports – talent acquisition – talent development Greatest management challenge for international assignments - tax &immigration compliance

30 Tactical to Strategic Marriott International: centralized global mobility operations higher retention of its high performing GMs, improved organizational efficiencies Source WEF Report January 2012 HRPA Talent Pipeline Conference April 19, 2012

31 Tactical to Strategic COM DEV: Harmonized approach to mobility– better mobilization of staff Benefits to the Organization – Attracts first-choice candidates – Fosters talent retention – Enhances ROI Source WEF Report January 2012 HRPA Talent Pipeline Conference April 19, 2012

32 Tactical to Strategic ITT Corporation Mobility Principles Strategic Workforce Planning Compliance People Innovative Administration and Best Practices CERC annual conference 2010 HRPA Talent Pipeline Conference April 19, 2012

33 Managing Mobility Mobility TaxPayrollVendorsImmigrationAccountingHR HRPA Talent Pipeline Conference April 19, 2012

34 Purpose/objectives of assignment Type of assignment Employee level Budget and cost implications Repatriation considerations Assignment Policy Considerations HRPA Talent Pipeline Conference April 19, 2012

35 Key Policy Elements Pre-assignment assessment Immigration Compensation Pension and benefits Pre-visit, destination services, cultural training Allowances and incentives Housing Tax Moving Social Insurance/Security Payroll Home leave Language training Schooling Repatriation HRPA Talent Pipeline Conference April 19, 2012

36 International Assignment Cost Year 1Year 2Year 3 Departure expenses$ 56,000$ 0 Annual ongoing expenses$325,000 Repatriation expenses$ 0 $ 35,000 Total Expenses$ 381,000$ 239,000$ 360,000 Total assignment*$980,000 *Toronto – Beijing Excludes provisions for tax; includes salary $150,000 pa

37 HRPA Talent Pipeline Conference April 19, 2012 But Will They Go?

38 CERC Global Mobility Study TotalCanada Very Likely 27%20% Somewhat Likely 37% Not Very Likely 23%26% Not at all Likely 13%16% CERC Global Trends in Talent Mobility Feb Imagine if you had a full-time job opportunity in the near future that would mean relocating to another city for a minimum of two years with at least a 10% pay raise and all of your moving expenses covered. How likely would you be to take the job?

39 CERC Global Mobility Study Imagine if you had a full-time job available in another country for 2-3 years & 10% increase in your pay. How likely would you be to consider moving to this new job? CERC / IPSOS Research Global Mobility Study September 2011 TotalCanada Very Likely 19%10% Somewhat Likely 30%29% Not Very Likely 25% Not at all Likely 26%36%

40 Why Employees Decline International Assignments Spouses career Loss of dual income Elder care Safety and security concerns Childrens education/special needs Uncertainty of role/position upon return HRPA Talent Pipeline Conference April 19, 2012

41 Mobility Model Talent Strategy & Business Objectives Workforce Planning + Talent Management =Business Objectives Assignment VS Local Hire Policy design for employee levels & demographics Repatriation and succession planning Internal administration & ROI Management Centralized control – C Suite sponsor/ Authorizations, Compliance and risk mitigation Provider and service level management Service Delivery An outsourced or in-house mobility team global providers? Regional delivery/administration Standards for service level performance HRPA Talent Pipeline Conference April 19, 2012

42 Corporate Responsibilities / Obligations Senior management commitment to talent management Clearly define roles and responsibilities for mobility management Systems to ensure compliance with internal controls & statutory regulations Service provider agreements for global supply chain Communication HRPA Talent Pipeline Conference April 19, 2012

43 Communication The value of mobility to the enterprise The value of mobility to the employee and accompanying family Ownership and authorizations The risks consequences of non compliance HRPA Talent Pipeline Conference April 19, 2012

44 HR Strategy Use performance measures to track progress and identify leaders / expertise Ensure retention through effective repatriation programs Benchmark assignment policy HRPA Talent Pipeline Conference April 19, 2012

45 Conclusion Make workforce planning Job# 1 Design and promote talent mobility strategies internal to the organization Manage talent like other forms of capital Establish a direct link between mobility and talent development Embrace cultural diversity as a business strength HRPA Talent Pipeline Conference April 19, 2012

46 Conclusion Align business and mobility objectives Match business goals and assignee selection Set out the purpose and specific objectives to be met Adjust objectives and purpose to meet changing business realities HRPA Talent Pipeline Conference April 19, 2012

47 Questions Thank you


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