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Maintaining Training Maintaining Training During Economic ConstraintsDuring Economic Constraints

Presented by Mike Peters

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Fact or Fiction ?

Training is not important to the organization’s strategy in hard times

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FICTION! Facts are:

Training can ease the pain when the going gets tough

Younger employees want to rise in the organization at a faster pace

Organizations that have effectively aligned all of their talent development functions can more readily assess performance gaps

CII RS 200-1

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Fact or Fiction ?

Developing talent is beneficial to the bottom line

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FACT! Benefits of Talent Development:

EBITDA Net Profit Margin Return on Equity

Peer Group

Top Performers

+ 11%

+ 31%

+ 48%

Source: The Hackett Group 2008

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Fact or Fiction ?

My key talent won’t desert me because they have nowhere to go

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FICTION! Facts are:

60% will change companies at least three times to advance their careers

Your most skilled employees might be the first to leave

High performers thrive on development opportunities

Never take your talent for granted

CII RS 200-1

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Fact or Fiction ?

Those entering the workforce are not adequately prepared

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FACT!

Source: Softscape – Results from past three “State of the Global Talent Nation” surveys of HR professionals

2006

64%

NOT adequately prepared

2007

86%

NOT adequately prepared

2008

94%

NOT adequately prepared

Organizations struggle to prepare workforce to meet growth demands

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Fact or Fiction ?

Career and development plans should take a back seat

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FICTION! Facts are:

These are the plans that jumpstart progress

Training provides employees with renewed career focus

Training helps morale of an organization

Training shows employees you are willing to invest in them regardless of the economics

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What Business Environment Changes Impact OUR Workforce?

Skill Shortage 41%

Business Growth 21%

Hiring Needs 13%

Changing Processes 5%

Staff Demographics 8%

Other 12%

CII 2007 Survey Results

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Global trends fuel the need for Training

• Tightening Labor Market:

9% fewer workers starting careers thanthose leaving the workforce through 2011

• Globalization:

Blending of diverse skill sets

• Changing Demographics:

Addressing needs of different age groups

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Are you hitting the Generational Training target?

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Generational Training PuzzleDemographic Clash Point Methods of

EngagingMethods of Training

Traditionalist/

Silent Gen.

(before 1946)

I learned the hard way; let’s see if they’ll rise to the top

Lessons learned Sharpen their skills, instructor-led training

Baby Boomer

(1946-1964)

Train, but don’t over train, because they’ll leave

Views training as a perk or way to move ahead

Instructor-led, class room based training, scenarios

Gen Xer

(1965-1980)

The more I learn, the more I’ll stay

Need to continue to add new skills to their tool belt

Technology-based formats for flexibility: i.e. mobile phone, PDA’s

Wants continuous access to training, quick and on demand.

Gen Y/ Millennial

(1981-1999)

Opportunities for continuous learning is a way of life

Collaborative learner centered environment, hands on, interactive & fun

Use wikis, pod casts to learn & network with others

Enjoy being mentored by Traditionalists & Baby Boomers

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Workplace Strategies

Managing Actions Valued by Group Examples of BehaviorWorking with TraditionalistsBorn before 1946

Honor the chain of command Respect for authority and want it in return

Offer job security Value the legacy they’ve built

Honor my dedication Appreciate that for some the Lab has been their only employer

Value my experience Respect the insights gained over the years Ask them to mentor others

Working with Baby Boomers1946-1964

Flexibility to accommodate multiple life demands

“Workaholics” Sandwich generation Looking to find balance in their lives Burned out

Believes teamwork & relationship building is important

Sense of who they are is connected to their career

Demonstrated hard work and loyalty to the institution is one way to get ahead (60-hr work week)

Descriptions provided below are common to American culture and could vary among different cultures outside the United States. It is important to remember that not all traits apply to all generations. These are general themes and not rigid stereotypes.

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Workplace Strategies (cont.)

Managing Actions Valued by Group

Examples of Behavior

Working with Gen Xers1965-1980

Open communication regardless of position, title or tenure

View the organizational charts as flat Wants and gives an open-door policy Respects production over tenure

Loyalty to a person or project Look for a person to whom they can invest loyalty, not an organization

Build tools for the tool belt See no problem changing jobs to advance professionally

Fun at work is a good thing Fun is a natural part of collaboration

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Workplace Strategies (cont.)

Managing Actions Valued by Group

Examples of Behavior

Working with Millennials

1981-1999

Challenge me Confident & High self esteem

Desire to work on projects that really matter Their work is making a difference Offer more responsibilities as a reward for accomplishments Adjust level of expectations by keeping lines of communication open

Give me something to learn Affinity and great respect for Traditionalists Mentor Training and development

Provide feedback Use and expect instantaneous, worthwhile feedback Accelerate development opportunities

Honesty is the best policy Lay out the specifics on hours, pay and job conditions Show the working conditions before the offer

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Managing Actions Valued by Group

Examples of Behavior

Working with Millennials

1981-1999

High expectations of self and employer

Aim to work faster and better than other employeesSeek fair and direct managers who are highly engaged in their professional development

On going learning Seek out creative challenges and view colleagues as vast resources from whom to gain knowledge and build social networks

Immediate responsibility Make a difference day 1

Goal-oriented Desire small goals with tight deadlines to build ownership of tasks

Workplace Strategies (cont.)

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Think about your development..

Sources for training

Chance to “stretch” with in your organization

Short term assignments

http://www.pmi.org/CareerDevelopment

provides links to training websites offerings

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