THE FUTURE OF WORK: HOW WILL HIGHER EDUCATION BE IMPACTED? - CUPA-HR Chapter Resources
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HEALTH WEALTH CAREER THE FUTURE OF WORK: HOW WILL HIGHER EDUCATION BE IMPACTED? N Y C C U PA-H R C H AP TE R M AY 1 1 , 2 0 1 8 Regina A. Sherwood Principal Boston MA Regina.Sherwood@mercer.com 617 747 9560 Dan Corr Principal New York, NY Daniel.J.Corr@mercer.com 212 345 5066
2017 – 2018
Chapter Sponsors
Thank you
MERCER 2018
A G EN D A
TIME ACTIVITY PRESENTER
9:00 am Welcome / Introductions President-Elect Sujata Malhotra, CUNY
Regina A. Sherwood Principal, Mercer
9:15 am Future of Work – Macro Trends
Career
What Does this Mean for You?
Regina A. Sherwood Principal, Mercer
9:40 am • Global Talent Trends
Career
• Employer Strategies
Dan Corr, Principal, Mercer Health
• Creating a Compelling EVP
Regina A. Sherwood Principal, Mercer
Highlights from Mercer’s Higher
10:15 am Career
Education Talent Trends Survey
Dan Corr, Principal, Mercer Health
10:30 am BREAK
10:45 am Breakout Sessions NYC CUPA Chapter Participants
Regina A. Sherwood Principal, Mercer
Bringing it Together – Implications
11:30 am Career
for HR
11:45 am Wrap-up President-Elect Sujata Malhotra, CUNY
© MERCER 2018 2
W E H AVE B EEN A B L E TO D R AW U PO N O U R
C OMPR EH ENSIVE A N D LEA D IN G R ESEA R C H , SOME OF W H IC H A R E
H IG H L IGH T ED B EL O W
Future of Jobs 2016; When Women Thrive, Future-proofing HR, Generational Talent LGBT Benefits Around
Human Capital 2014 and 2016, 2017 Global Talent Trends Trends, 2016 the World
Reports, 2013 and 2016, 2017 and 2018 2017
2015
Research undertaken with the Global gender research
undertaken by Mercer in Global research undertaken Building racially diverse Research undertaken by
World Economic Forum
collaboration with Edge, as well by Mercer identifying talent talent pipelines within the Mercer into benefits
investigating the most important
as global research on management priorities financial services industry provided to LGBT
skill in demand for the future
identifying thriving employees
workforce and the global talent
value chain organizations
© MERCER 2018 3
THE FUTURE OF WORK
MACRO TRENDS
MERCER
MERCER2018
2018
N EW J O B S O N T H E H O R IZ ON
65% of current primary
school children will end up in new
job types that don’t even exist as
yet
© MERCER 2018 Source: Future of Jobs Report, World Economic Forum, 2016 5
D ISR U PT ION IS ST EA L IN G T H E H EA D L IN ES AI, Robotics and technological advances such as 3D printing are disrupting industries and redefining value chains © MERCER 2018
C O U L D R O B OT S R EPL A C E H R A N D C EO S? MERCER 2018 7
IN N O VAT ION S IN D IST R IB U T ION – D ISR U PT IN G L O G IST IC S MERCER 2018 8
T H E C H A N G IN G EM PL O YM EN T L A N D SC A PE
W H AT W E K N O W W H E R E W E A R E AT WHERE WE ARE HEADING
INFLECTION POINT
• Cloud Technology • Automation, Robotics • Blockchain
INTERACTIVE
• 3D Printing & Advanced • AI & Machine Learning • Virtual DATA LAYER
Manufacturing • Wearables Assistants
• The Internet of Things AUGMENTED
BIG DATA MANAGEMENT
HUMANITY
Predictive Analytics
• AI Board Directors
DISRUPTIVE TECHNOLOGY
• AI adaptive systems that
anticipate needs
• Rise of the
• Rise of the • Pay Equity Individual
Free Agent • Vocality of the
• Multi-generational • Personas
Workforce • Longevity Female voice
Building awareness Getting organized Starting to accelerate
©© MERCER
MERCER 2018
2018 Source: 2018 Mercer Global Talent Trends 9W E K N O W D ISR U PT ION W IL L IM PA C T J O B S A N D SK IL L S
Employment outlook across job families 2015 - 2020
Source: Future of Jobs Report, World Economic Forum
+492 +416 +405 +339 +303 +66
Business and Computer and Architecture Education
Management Sales and Related
Financial Operations Mathematical and Engineering and Training
GROWTH (Thousands)
-4759 -1609 -497 -151 -109 -40
Office and Manufacturing Construction Arts, Design, Entertainment, Legal Installation and
Administrative
© MERCER 2018 and Production and Extraction Sports and Media MaintenanceJ O B S T H R O U GH T H E G EN D ER L EN S: D ISL O C AT ION H A S T H E G R EAT EST IMPA C T O N W O MEN © MERCER 2018 Source: Future of Jobs Report, World Economic Forum, 2016 11
SEISMIC SO C IO -C ULTU RA L SH IF T S A R E U N D ERWAY
The traditional family is fast Rapid acceleration Shifts in migration,
becoming atypical in longevity racial and ethnic diversity
Changes in fertility The rise of the Importance of our
and
© MERCER 2018 parenthood Free Agent digital identity 12T H ESE C H A N G ES A R E R A ISIN G C R IT IC A L Q U EST IO NS
— — —
BUSINESS HR EMPLOYEE
LEADERS — —
—
How can we How can we What does
build for an attract & retain career success
unknown tomorrow’s mean in
future? workforce? today’s world?
S T R AT E G Y TA L E N T M A N A G E M E N T C A R E E R A S P I R AT I O N S
C A PA B I L I T I E S E V P / T O TA L R E W A R D S WORK & LIFE DEMANDS
L E A D E R S H I P & C U LT U R E ENGAGEMENT & EMPOWERMENT S AV I N G S & R E T I R E M E N T
©© MERCER
MERCER 2018
2018 13H IG H ER ED U C AT ION H A S A D D IT IONA L D ISR U PT ION S © MERCER 2018 14
IN N O VAT ION S D ISR U PT IN G B U SIN ESS M O D EL S
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?
© MERCER 2018 15W H AT D O E S T H I S
MEAN FOR YOU?
G L O B A L TA L E N T T R E N D S
MERCER
MERCER2018
2018C O M PET IT ION F O R TA L EN T
T I G H T E N I N G L AB O R SKILL COMPETITION FOR
M AR K E T S M I S M AT C H TAL E N T
Globally, many countries are at or Current employees may not meet Employers must ensure they are
approaching a 10-year low in future needs due to technology poised to attract and retain
unemployment rates disruption changing the skills talent in a new era
needed
© MERCER 2018 17EM PL O YEES A R E L O O KING F O R M O R E
C O M P E N S AT I O N I S H E A LT H A N D STEERING W OR RYIN G AB OU T MAKING WORK
STILL KING WELLNESS MY CAREER MONEY “WORK”
#1 way to positively 53% want more focus 1 in 3 do not feel 13 hours per month per 56% want more flexible
impact me at work on health empowered in employee spent worrying options and 77% would
and wellness their careers at work work on contract basis
© MERCER 2018 Source: Mercer 2017 Global Talent Trends Report. 18EM PL O YER O F F ER IN GS A R E SH IF T IN G
Y E S T E R D AY T O D AY TOMORROW
C O M P E N S AT I O N • Internally focused • Market driven • Greater transparency
• Guaranteed increases • Pay for performance • Personalization
• Segmentation • Designing for outcomes
and Differentiation
BENEFITS • Static • Higher cost • Expanded offerings with
• Guaranteed/low cost • Employee responsibility personalized decision support
• Company responsibility • Focus on value-based care
WELL-BEING • Emphasis on physical wellness • Emphasis on well-being (physical, • Emphasis on whole person
• Focus on return on investment financial, emotional) (community, purpose)
• Focus on value on investment • Focus on evidence-based outcomes
CAREERS • Staid and predictable career • Employee-driven • Employer-curated careers
options career paths • Rise of independent
• Stable, fixed and predictable work • Flexible work arrangements contractors/free agents
schedules
© MERCER 2018 19T R A D IT IONA L R EWA R D L EVER S A R EN ’T D R IVIN G R ET EN T IO N
I am very satisfied with
My benefits are very good
my organization
I am very satisfied
with my job and career I am paid fairly
Globally, 1 in 3 employees say they are satisfied with their employers, but are still considering leaving
© MERCER 2018 Source: Mercer 2017 Global Talent Trends Report. 20PER M A N EN T F L EXIB IL IT Y - T H E EM PL O YEE EXPER IEN C E
71% of thriving individuals say their Only 3% of companies say they are Flex leaders
company offers them flexible work (compared
to 32% of non-thriving)
13% assess every job for its ability to be done
flexibly; most have ad-hoc arrangements
51% of all employees want more flexibility
BUT…
36% have had a request for flex
turned down
94% of HR have concerns
41% are concerned that flexibility will
impact promotional prospects • Ability to apply fairly to all employees
• Impact on teamwork and face-to-face collaboration
What's working? • Ability to measure and reward contribution
• Managing on results, not hours (66%) • Ability to manage career progression
• Colleagues being positive (63%) • Impact on results/output
• Manager being supportive (59%)
© MERCER 2018 Source: Mercer 2018 Global Talent Trends Report. 21
© MERCER 2018T EC H N O L OGY, B IG D ATA A N D A N A LYT IC S A R E T R A N SF O R MIN G T H E
W OR LD O F W O R K
!
Algorithms are eradicating biases in job postings Social and chatbot data gives real time insights
Career management technology fueled by AI can make informed VR is augmenting manager training – success seen in promoting
development recommendations inclusion and highlighting work stress
© MERCER 2018 22A R E YO U R EA D Y?
Do you have the Do you provide a Are you getting the best
Are you noticing Have you created
FUTURE COMPELLING RETURN ON
S Y M P T O M S of an S TAY I N G P O W E R
W O R K F O R C E with E X P E R I E N C E for I N V E S T M E N T from
uninspiring experience? with your employees?
the skills you need? your workforce? your rewards program?
© MERCER 2018 23C R E AT E A C O M P E L L I N G
EXPERIENCE FOR THE FUTURE
OF WORK
DEFINING A NEW EVP
MERCER
MERCER2018
2018C R EAT E A C O MPEL L ING EXPER IEN C E
TAK E A H O L I S T I C AP P R O AC H
Define the employee experience that will make the
right talent want to join, stay and deliver their best performance
97 %
E M O T I O N AL
of employees want to
be recognized and PURPOSE
rewarded for
a wider range of E X P E R I E N T I AL
contributions CAREERS WELL-BEING
CONTRACTUAL
COM PENSATION BENEFITS
C U LT U R E
© MERCER 2018 25W H AT D O ES T H IS M EA N F O R YO U ?
F R AM E W O R K AD AP T S TO Y O U R P E O P L E S T R AT E G Y
GOAL
Build Talent
GOAL
GOAL Attract talent based
Buy talent on mission
CAREERS WELL-BEING
PURPOSE
COM PENSATION BENEFITS
© MERCER 2018 26MA K IN G T H E EMO T IO NA L C O N N EC T ION
Innovative brands communicate
What’s unique about the work…
© MERCER 2018 27A W O R K PL AC E F O R M E: C A R EER D EVEL O PM EN T
ROTATIONAL
PROGRAMS
© MERCER 2018 28A W O R K PL AC E F O R M E: M O N EY M AT T ER S © MERCER 2018 29
A W O R K PL AC E F O R M E: H EA LT H & W EL L N ESS © MERCER 2018 30
A W O R K PL AC E F O R M E: PER SO N A L IZ AT ION
HR ON
Promotional messaging, easy
THE GO access to information,
PUSH
targeted alerts
NOTIFICATIONS
ONBOARDING
LIFE EVENTS
© MERCER 2018 31C R EAT E A C O MPEL L ING EXPER IEN C E
I T S TAR T S W I T H A S T R AT E G Y
An effective strategy should consider the following:
MULTI-PERSPECTIVE
DATA-DRIVEN TARGETED ENGAGING
© MERCER 2018 32C R EAT E A C O MPEL L ING EXPER IEN C E
M U LT I - P E R S P E C T I V E : VARY I N G D E G R E E S
EMPLOYER PERSPECTIVE
What outcomes do we need?
EMPLOYEE PERSPECTIVE
What do our employees value?
M ARKET PERSPECTI VE
What are our competitors doing?
COST PERSPECTIVE
Are our programs affordable and sustainable?
© MERCER 2018 33C R EAT E A C O MPEL L ING EXPER IEN C E
D ATA- D R I V E N : AN ALY Z E W O R K F O R C E B E H AV I O R S
Say What employees say, as
measured through: Do How employees actually behave, as
measured through:
Leadership and HR Performance/
perspectives productivity
Focus groups Engagement
Employee surveys Turnover
Social media sites Promotability
Exit surveys Rewards program utilization
Human behavior is complex — we seek to “crack the code” for what will truly drive desired outcomes
© MERCER 2018 34C R EAT E A C O MPEL L ING EXPER IEN C E
TAR G E T E D : B AS E D O N U N I Q U E N E E D S AN D D E S I R E S
Provides multiple dynamic Builds relevance into all
programs to target Foundation for a personalized
lenses to evaluate programs
investments experience
Location Communication
Employee demographics Needs Interests Behaviors
demographics preferences
Sample Personas
LONG-TERM URBAN MANAGERIAL FREE
STARTERS STRIVERS
LOYALS AMBITIONS CORE AGENTS
© MERCER 2018 35C R EAT E A C O MPEL L ING EXPER IEN C E
E N G AG I N G : C O N N E C T W I T H M E AS AN I N D I V I D U AL
“I get it”
It’s simple. This experience feels as modern
and familiar as the consumer sites I already
use
“I’m confident” “I feel appreciated”
I have what I need to understand I can see the value of
where I am, and support to help working here both now and
me take action in the future
E N A B L E D B Y A D I G I T A L P L AT F O R M
CONSUMER-GRADE DATA PRIVATE AND CAMPAIGNS THAT CONTENT THAT IS
EXPERIENCE SECURE DRIVE ACTION RELEVANT
© MERCER 2018 36C R EAT E A C O MPEL L ING EXPER IEN C E
E N G AG I N G : AN E X AM P L E I N AC T I O N
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
© MERCER 2018 37HIGHLIGHTS FROM MERCER’S
H I G H E R E D U C AT I O N TA L E N T
TRENDS PULSE SURVEY
MERCER
MERCER2018
2018B O T H H IG H ER ED U C AT ION & G EN ER A L IN D U ST RY EXPEC T IN C R EA SIN G
C OMPET IT ION F O R TA LEN T, B U T TO VA RYIN G D EGR EES
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
45%
41%
40%
35%
31%
30% 28%
25%
20%
15%
10%
5%
1%
0%
No increase in the competition for Some increase in the competition for Significant increase in the competition Variable changes, such as by job,
talent talent for talent level or job family
© MERCER 2018 39B O T H H IG H ER ED U C AT ION & IN D U ST RY F O C U S O N D EVEL O PIN G IN T ER N A L
R ESOU R C ES, B U T IN D U STRY IS MOR E LIK ELY TO B U Y/B ORR OW TA LEN T
Q: If you plan to increase staff capacity at your institution in the next 1-3 years, do you plan to*:
General Industry: Build 88% Buy 56% Borrow 38%
70%
64%
60%
50%
40%
30%
23%
20%
11%
10%
2%
0%
Build talent with a stronger focus on Buy talent by recruiting from external Borrow talent by utilizing freelancers, We do not plan to increase staff talent
developing and promoting from within labor pools contingent and/or contract workers capacity
* Talent Trends survey allowed respondents to select more than one answer.
© MERCER 2018 40N O TA B LY, H IG H ER ED U C AT ION ’S TO P PR IO R IT Y IS B U IL D IN G A C U LT U R E
OF D IVER SIT Y A N D IN C LU SION
Q: What will be your institution’s top talent management priorities in 2018? (Select 5)
Building a culture of diversity & inclusion 59%
Improving the onboarding experience 48%
Developing leaders for succession 47%
Increasing employee engagement 41%
Attracting top talent externally 39%
Optimizing performance management 37%
Ensuring equitable pay (gender/race/ethnicity, living wage) 36%
Building skills across the workforce 32%
Supporting employees’ career growth 27%
Retaining culturally diverse talent at all levels 24%
Ensuring rewards competitiveness 20%
Ensuring employee health & wellbeing 19%
Redesigning jobs (e.g., roles and responsibilities) 16%
Moving towards greater pay transparency 14%
General industry:
Redesigning the organization (e.g., structure, reporting lines) 14% 1. Attracting top talent externally
Strategically moving talent internally 12% 2. Developing leaders for succession
Identifying high potentials 9%
3. Supporting employees’ career growth
Increasing flexible work options 9%
Retaining female talent at all levels 6% 4. Increasing employee engagement
Attracting and retaining Millennials 3% 5. Building skills across the workforce
© MERCER 2018 41IN ST IT U T IONS EXPEC T TO IM PL EM EN T A VA R IET Y O F B EN EF IT S
PR OGR AMS A N D STR ATEGIES IN TH E N EA R FU TU R E
Q: What health and welfare programs/strategies do you anticipate implementing
in the next 1-3 years? (Please select all that apply.)
60%
51%
50%
44%
40%
30% 29%
20% 19%
14%
12%
10%
10%
0%
Concierge model wellbeing Consumer driven plans Voluntary benefits Onsite clinics Moving/enhancing online We are not planning any Other (please specify)
programs benefits portal changes
© MERCER 2018 42BREAKOUT SESSIONS – HOW ARE YOU
P R E PA R I N G ?
MERCER
MERCER2018
2018B R EA K - OUT SESSIO N # 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? © MERCER 2018 44
B R EA K - OUT SESSIO N # 2 Discuss with your group the following topics/questions and be prepared to share it with the collective group 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? © MERCER 2018 45
B R EA K - OUT SESSIO N : O PT IO NA L
Discuss with your group the following topics/questions and be prepared to share it with the collective group
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?
© MERCER 2018 46BRINGING IT TOGETHER –
I M P L I C AT I O N S F O R H R
MERCER
MERCER2018
2018H R PR IO R IT IES TO SU PPO R T TA L EN T SU C C ESS
BUILD DIVERSE ARCHITECT
TALENT POOLS EMBRACE THE NEW COMPELLING SIMPLIFY TALENT
WORK EQUATION CAREERS PROCESSES
Expand the use of analytics to identify Recognize “one size fits one” and Design career frameworks to Challenge existing talent
talent flow opportunities and pinpoint key build a growth culture that reconcile the organization’s succession management processes and
drivers of change supports flexibility, development and needs & individuals’ expectations of technology to reduce duplication
Rethink talent acquisition through autonomy career direction and velocity – aim for short and intuitive
innovative sourcing strategies, informed Create an environment where Stimulate talent movement in Align performance management
skill matching, and new worker profiles employees feel valued and have intentional and systemic ways by fundamentals with the
Build for tomorrow via experience-based transparency around pay, feedback making careers fun and focusing on organization’s business model
development interventions focusing on and progression mobility & development programs and rewards philosophy
diverse population pools and emerging Rethink how managers are Enable managers to hold meaningful Reimagine employee
competencies incentivized to identify, develop, career conversations with their interactions to promote a positive
and export talent employees brand experience
© MERCER 2018 Source: Mercer Talent Trends, 2016 48G R A B B A G D ISC U SSIO N © MERCER 2018 49
© MERCER 2018
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