Global Workforce Demographics – Part 4 of 4: Global Workforce Recommendations

This is Part Four of a four part blog on Global Demographics.  Here is the link to:

Part One – Global Workforce Demographics

Part Two – Japan’s Workforce Demographics

Part Three – Russia’s Workforce Demographics

  Recommendations 

The long-term affects of these workforce risks in Japan and Russia are significant.  If the risks are not mitigated, we can expect to see in each country slower economic growth, higher prices and even rising unemployment.

In the past, when executives were confronted with resource constraints, they used skill or talent gap analysis in crafting a solution.  This time around, gap analysis is simply insufficient.  One of its weaknesses is that with the current Japanese and Russian talent shortages, the approach produces gaps in every nook and cranny of an organization.  If you want to “boil the ocean”, gap analysis will lead you down that path.

My recommendation is to quickly determine the most critical positions in a company so planning for those positions can begin, immediately.  For me, a critical position is one that is mission critical or business impacting.  These positions, if un-staffed, can result, lost revenue opportunities, higher costs, damaged brand, regulatory violations and fines. Gap analysis will eventually discover these positions, but wouldn’t you rather take a more direct route?  For further reading on critical positions, see Tom Casey’s blog.

Once you have the critical positions identified, planning can begin to mitigate the risks.  Here are some thoughts to consider for a Japanese and Russian plan.

  • Encourage aging workers to stay-on past retirement
  • Identify positions using similar skills as a critical positions and develop a transfer, training and development program.  Examine positions throughout the organization, including other departments and business units.
  • Create a Superior Performer database of potential candidates to “poach” from other organizations
  • Recruit Superior Performers for the Manager position using a personal-touch Talent Acquisition process that excites them about career opportunities
  • Capture detail records of voluntary turnover and mine for retention and development opportunities
  • Capture detail point of origin records, where and how an employee came to you, and mine for recruiting opportunities.

   

All data is courtesy of the International Labour Organization

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One Response

  1. Hey Eric,

    Very interesting info and I will be referencing it in my Millennial & Generation Relations seminars. I recently spoke about this in my Global Millennials Seminar for Cisco Systems, but most of that focus was on how the Millennials are impacting recruiting and retention efforts for organizations worldwide. Your info about the multi-generational aspects are also helpful so I’ll be diving deeper into your blog as a great resouce site for additional info.

    I’ll also be sure to add your blog to my Blog Roll as I know many of my readers will also find your information helpful.

    Great job!

    Lisa Orrell
    Millennial & Generation Relations Expert
    http://www.TheOrrellGroup.com
    http://blog.generationrelations.com/

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