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4 Ways to Use Software Effectively For Logistics Recruitment

recruitment

4 Ways to Use Software Effectively For Logistics Recruitment

HR managers in the logistics sector have a lot of challenges to overcome. One of the most significant is the lack of a sufficient talent pool. There is a rise in demand for logistical services. 

Many attribute this to the Covid-19 pandemic. More people now resort to online shopping and companies must work hard to satisfy the demand for supply chain logistics. Yet, there are not enough people to fill the job positions. This is mainly due to a widening skills gap. Older workers are opting for retirement while younger demographics are not lining up for jobs within the logistics sector. There is a significant lack of skills, experience, and qualifications. 

And, with such high demand for talent, HR must improve efficiency to attract the right candidates. The right software can provide the most effective solutions. We will explore how to use them in our article.  

Better Quality Candidates with Recruitment Solutions 

HR managers have for a long time depended on legacy systems to fill job positions. These include advertising open positions where they then go through the applications and narrow down on the best candidate. Then comes the interview process, final selection, and onboarding. 

Manual processes can take a lot of time and money. But now, with technological advances, there are recruitment solutions available. They increase efficiency by automating some of the tasks.  

The HR department gets access to:

-Powerful applicant tracking Systems (ATS) to create and manage databases. 

-Better quality job posting and distribution services.

-Advanced search capabilities for the right candidate.

-Data analytics that yields tons of insights for better decision-making.

-Intuitive onboarding for recruits.

-Third-party integrations such as CRM for nurturing relationships.

-Account and customer service management. 

HR recruitment software saves time that would go into manual processes. Automation leads to higher efficiency and streamlined workflows. It frees up the team to concentrate on other tasks.  

The Role of Candidate Relationship Management Systems 

With such a demand for talent within the logistics sector, it is easy to lose employees to competitors. HR has a critical role to play in retaining the existing workforce. That means constant engagement and finding ways to boost employee experiences.  

Investing in candidate relationship management systems can assist with this. The software helps in nurturing and managing candidates, right from the recruitment stage. Here is how it works. 

The company uses applicant tracking systems to develop a repository of potential candidates. And the recruitment CRM provides additional information on the candidate.  

HR can use the data to personalize their communication and engagement with recruits. And that’s not all. The CRM helps send out personalized emails, screening, interview scheduling, and running background checks.  

HR also gets data that can provide insights on the effectiveness of the recruitment strategies. 

Talent Sourcing and Matching Recruitment Solutions 

As stated, it can take a lot of time to go through each application to find the best talent. Recruitment software automates the process, thus increasing speed and efficiency.  

And, online recruitment software can search more platforms for the right talent. They scour job posts, social media platforms, and other online sites to get qualified candidates. 

The algorithms focus on factors like experience level, education, and industry knowledge to narrow down suitable candidates. It helps avoid bias, which is a big problem in recruitment.  

Talent matching software ensures the right person fills the job position. It focuses on the skill in relation to the job. It is expensive to hire someone only to later find out they are not suitable for the job.  

Better Candidate Experience with Recruitment Solutions 

With so much competition for talent in the logistics sector, employers must work hard to improve the candidate experience. Let’s take the example of lengthy recruiting processes. Candidates may view the long wait for feedback as a lack of interest and could move on to the competitors without a second thought. 

That means you lose out on the limited talent due to in-house inefficiencies. Automation can help increase efficiency, thus faster response to potential recruits.  

We have looked at the important role of candidate relationship management systems. Ongoing communication shows the recruits that they are top of mind. HR can keep the candidates up-to-date with what is going on. 

Such a simple step can help build positive brand perception. A good word from such candidates about how well you manage them will make the organization more attractive to others. 

Do you know that up to 69% of employees will share a negative candidate experience? 55% will not pursue a position in your company if they read a bad review. How the organization manages candidates is, therefore, a critical recruiting factor.  

Recruitment solutions with technologies like chatbots can improve the candidate experience. The bots provide quick responses to queries. The candidate does not have to wait a long time for information. Such tools are also fantastic for onboarding.  

HR simply uploads the information they would want to share with new employees. The latter can then, at their convenience, log in to access the information.  

Recruitment software can uncover hidden talent within the organization. It will go through the database to match potential candidates to open positions.  

That means there are chances for existing employees to move into jobs that are more suited to their qualifications. That forklift operator might be a fantastic salesperson. 

Further, the promotion can be a fantastic motivational factor. Finally, it will save the company money and time by not having to go through talent sourcing in the wider market.  

Final Thoughts 

The logistics sector is facing a tough time when it comes to recruitment. There are job opportunities available. But, companies are facing a challenge finding the right talent to fill the positions. That means, there is high competition for the limited pool of candidates. 

Companies that invest in smart recruitment solutions can have an edge over the competition. Applicant tracking systems, for example, help in the creation of databases. It helps save time which would go into placing job postings across various platforms.

Candidate relationship management systems increase engagement. They provide an excellent way to nurture relationships with industry talent. 

The use of recruitment software also enhances the candidate experience. HR keeps up with engagement and provides ongoing feedback. Finally, tools like chatbots provide prompt feedback to queries and can help with onboarding. 

retention

8 Small Policy Changes That Can Significantly Strengthen Retention

Worker shortages are plaguing the warehousing and logistics industry. While many companies are looking for new ways to attract workers to remediate the situation, retention is just as, if not more, important.

Without strong retention, recruitment will do little good. Replacing a salaried employee also costs six to nine months’ salary on average, so retention is far more affordable. Thankfully, even small policy changes can strengthen employee retention. Here are eight examples.

1. Tighten the Recruitment Process

Retention starts with hiring. Employers can prevent many turnover cases by hiring workers who are more likely to stay in the first place. The first step to achieve that is to ensure that job postings are accurate and transparent.

One study found that nearly half of all workers have left a job because it didn’t meet their expectations. Instead of relying on vague language and buzzwords, job descriptions should offer specific details about the position. That way, any applicants understand the roles they’re taking on, preventing disillusionment down the line.

Job seekers will also appreciate honesty. Being transparent in the recruitment process may give new hires a better starting impression of the workplace.

2. Create Upward Mobility Opportunities

One of the most crucial policy changes for better retention is to enable upward mobility. In 2019, 20% of workers who left a job did so because of career development-related reasons. In fact, career development has been the number one reason employees leave for 10 straight years.

This issue has a relatively straightforward fix, too. When a new position opens up, instead of looking for outside hires, companies should promote from within. Businesses should also look to create plenty of opportunities for advancement to give workers a career growth goal.

Career development opportunities can be more than raises and promotions, too. Courses to teach employees new skills or fund their education will help increase retention, too.

3. Accept Anonymous Feedback

Another simple yet effective policy change to make is to have a system for anonymous feedback. Workers may have suggestions for improving the workplace but may fear retribution if management can trace their comments back to them. Anonymous feedback forms let employees speak up confidently.

It’s important to respond to this feedback, too. Making changes that workers want can help ensure the workplace fosters a positive environment. Employees will also feel empowered if they see how their actions impact the workplace, and empowered workers are 33% more likely to stay for three years.

It can help to encourage workers to use these systems, too. That encouragement will promote an air of trust and transparency and empower them further.

4. Support Worker Health

Lifestyle-related benefits are easy to overlook but can be an effective policy change to retain employees. Healthy workers are likely to feel happier and more satisfied, and employers can help them be healthy. By offering perks that support healthy worker lifestyles, businesses can show their employees that they care about their well-being.

Providing nutritious food options in company cafeterias is an easy change to make. Foods high in nutrients like vitamin C can boost workers’ immune systems, helping them feel stronger and healthier. Providing exercise programs or occasional on-site massage therapy can help too.

5. Communicate With Employees Often

Along similar lines, it’s important to maintain communication with employees. Studies show that nearly half of Americans feel lonelier than usual, so feeling seen and valued in the workplace can make a significant difference. Talking with workers will help them feel valued and bring any issues they have to light.

Remember that this communication goes both ways. In addition to listening to employees, management should inform them of any upcoming opportunities and changes often. If workers don’t understand what’s going on at the company, they’ll feel underutilized and unimportant, leading to turnover. In contrast, feeling involved can convince them to stay.

6. Maintain Competitive Compensation

Most employers already understand that higher pay and more competitive benefits will help convince workers to stay. This issue goes beyond bumping up a starting salary once or offering new perks, though. Businesses should have a policy to review industry compensation rates periodically to see how theirs compares.

Workers quitting because of pay and benefits-related reasons have increased by more than 26% since 2010. This trend also coincides with the growing movement of more businesses offering new perks and adjusting pay rates. What constitutes competitive compensation is changing and changes regularly, so a one-time fix is insufficient.

Periodically reviewing industry trends can reveal whether an employer offers sufficient compensation or if they need to adjust. This prevents underpaying compared to competitors as well as unnecessarily raising rates.

7. Recognize and Reward Commendable Behavior

According to one survey, 79% of employees who quit their jobs cite a lack of appreciation as a major factor. Thankfully, employers can address that with relatively straightforward policy changes.

Workplaces should have a policy of recognizing and rewarding positive behavior in their workers. Regular awards given to the highest-performing employees or praising workers’ actions and achievements in company newsletters can help workers feel valued. These rewards, though seemingly small, can go a long way in employee retention.

Workers don’t often expect much in return for good service. Typically, recognition of a job well done is sufficient. While monetary incentives don’t hurt, taking the time to praise commendable behavior can make a significant difference.

8. Encourage Employees to Take Advantage of Perks

Another seemingly small but significant change for employee retention is letting workers know it’s okay to use their benefits. Poor experiences with other employers may leave workers feeling like they shouldn’t use their time off or other perks. Encouraging them to do so can assuage those concerns, making them feel more welcome.

When workers take advantage of their benefits, they’ll likely feel more relaxed and fulfilled. When management doesn’t just allow but encourages it, they’ll feel appreciated, too. If employees feel like their employers care for their work-life balance, they’ll be less likely to leave.

Small Changes Can Have a Big Impact

Workplace changes don’t need to be disruptive to have a substantial impact on employee retention. It’s often an amalgamation of multiple “little” things that convince workers to leave a job. In the same way, making several little changes can convince workers to stay with their current employer.

These eight changes represent some of the most effective yet straightforward improvements to strengthen retention. By implementing these fixes, businesses can reduce turnover and related costs and foster a more motivated, positive workforce.

employee

It’s an Employee’s Market, Here’s How to Keep Them

Have employees ever had this much leverage?

Employers are struggling to fill jobs in the wake of “The Great Resignation.” There were a record number of U.S. job openings in June – over 10 million – as nearly four million Americans quit in that month alone, reflecting confidence they can find better positions and places to work.

Many employers are having to compete for workers by offering attractive signing bonuses, higher pay, better benefits, and remote work flexibility. But company leaders, whether they are trying to recruit top talent or retain it, must be cognizant that doing either successfully depends on much more than an attractive compensation package and big raises, says Kathleen Quinn Votaw, the author of DARE to CARE IN THE WORKPLACE: A Guide to the New Way We Work.

“The role of leaders in recruitment and retention has been changing,” says Quinn Votaw, CEO of TalenTrust, a strategic recruiting and human capital consulting firm. “People want different things from you now. A paycheck is not enough on any level.

“It comes down to work culture, and leaders set the tone for that. Leaders who hold onto outdated management styles like top-down control or distrust of anyone working from home will lose some of their best employees. Today, you can count on the fact that top talent is evaluating your values, leadership style, and your level of commitment to putting people first. These are the things that determine whether people stay with you or go.”

The global pandemic, Quinn Votaw says, has increased the importance employees place on work-life balance, more flexibility, and stronger connection with leadership. Deloitte’s 2021 Human Capital Trends report shows that many executives believe workers will gain greater independence and influence relative to their employers in the future.

“In this type of market, workers have a lot of leverage,” says Deloitte CEO Joe Ucuzoglu.

Quinn Votaw offers three ways for leaders to create a culture where workers want to stay and one that new talent wants to join.

-Emphasize communication and recognition. “When people feel underappreciated for their contributions, it’s impossible to have a positive employee experience,” Quinn Votaw says. Increasing recognition, along with prioritizing open and transparent communication, she says, “build the strong connections and trusting relationships that employees want most.”

-Nurture a healthy work-life balance. Putting a higher priority on productivity than the well-being of employees leads to disengagement, burnout, and turnover. Research by Robert Half finds that 70 percent of employees say they’ve been working on weekends and working more hours than they did before the pandemic, yet 51 percent of them worry that their manager doubts their productivity when working from home. “Who can blame them for looking for new opportunities in happier, healthier, more trusting work environments?” Quinn Votaw says. “Give employees manageable workloads and the flexibility to get the job done in a way that fits their life holistically.”

-Listen and take meaningful action. Quinn Votaw says turnover prevention boils down to understanding what your people need. “Employees have complained for decades that leaders are terrible at making needed changes in response to their feedback,” she says. “Today’s employees won’t put up with lip service. Act on their feedback quickly so they know you are listening and understand that they are valued.”

“People want leaders who listen to them, trust them, show patience and humility, and support and empower them,” Quinn Votaw says. “Retaining your talent means creating an amazing, positive, inclusive culture where everyone is paid fairly, appreciated, and able to grow.”

______________________________________________________________________

Kathleen Quinn Votaw (www.talentrust.com) is the CEO of TalenTrust, a strategic recruiting and human capital consulting firm. She is the author of DARE to CARE IN THE WORKPLACE: A Guide to the New Way We Work. Regarded as a key disruptor in her industry, Quinn Votaw has helped thousands of companies across multiple industries develop purpose-based, inclusive communities that inspire employees to come to work. Her company has been recognized in the Inc. 5000.

talent acquisition

What’s Next For You? How Knowledge Management is Transforming Talent Management in Global Markets

Knowledge management seeks to apply organizational knowledge in order to satisfy and exceed employee’s expectations. All executives need to be aware of how to better control knowledge management which coincides with talent management and to do this, they should understand the strong correlation between two important factors. The focus of this article is based upon the critical role of knowledge management which allows a rich basis for understanding the mechanisms by which talent management is influenced.

6 Key Practices to Integrate Talent Management and Knowledge Management

Since executives are constantly dealing with employee development, talent management is something they pay a great deal of attention to. Of course, this is not new but worth mentioning. A mistake in this area may be vital to the organizations and executives must choose their practices wisely. This article addresses these knowledge management practices in depth to set the record straight upon the importance of talent management.

1. Prioritize Candidate Experience

Knowledge is a collection of meaningful experiences. The key take-away for executives is that prioritizing candidate experience can enable organizations to solve problems and create value through improved performance and it is this point that will narrow the gaps of success and failure leading to more successful decision-making.

2. Tailor Talent Acquisition Strategy to Business Goals

Executives must determine their business goals for the next three years and develop a talent acquisition strategy that focuses on planning the work and technically supporting newly-hired employees to achieve the business goals. A talent acquisition strategy helps companies to achieve their business goals that reflect excellence and some kind of higher-order effectiveness. This is where executives can attempt to achieve business goals—stemming from a talent acquisition strategy across pivotal areas on the organization.

3. Educate the Hiring Manager

Hiring managers can become familiar with employee recruitment practices through education. Education is more active, broad, flexible, experimental, synthetic, and strategic compared to training. Why is this, you may ask? Because education is a process that leads to acquiring new insights and knowledge, and potentially to correct sub-optimal or ineffective actions and behaviors that cause companies to spiral out of control.

4. Enhance Training Efficiency

Executives must provide work-related training programs for newly-hired employees when beginning onboarding and must be aware of their training efficiency programs. As executive trainers, I agree with Jennifer Rowley who suggests training courses as an effective way to share knowledge. Most importantly, applying knowledge aimed at providing better decision-making and work-related practices and creating new knowledge through innovation. Knowledge has to be measured in some way, many trainers talk about return-on-investment of training which is hard to measure, training satisfaction measurement by participants and their desire to apply it to the workplace is an excellent barometer of learning new skills or building upon old ones. The key point in the training is the knowledge use coupled with testing and re-testing to ensure that the knowledge is actually helping the organization grow professionally for employees and profitably for all stakeholders.

 5. Write No Strict Job Descriptions

When newly-hired employees come on board, they are given job descriptions. But how can executives write no strict job descriptions? The answer to this question lies in an executive’s demonstration to motivate employees to approach organizational problems in a more novel approach. In doing this, executives can inspire employees to rethink problems and challenge their current personal attitudes and values. Most importantly, executives can transform organizations by attempting to change the basic values, beliefs, and attitudes of employees so that they are willing to perform beyond their previous or originally level specified by the organization in their job description.

6. Be More Flexible

Flexibility in the workplace may enable executives to improve departmental and managerial interactions and develop relationships among managers, business units, and departments. Through flexibility in the workplace, executives can also shift the power of decision-making to the lower levels and inspire newly-hired employees to create new ideas and implement them, which can in turn propel interdepartmental communications and improve knowledge exchange.

In Conclusion

This article can offer several implications for practice. First, this article highlights that there is a strong correlation between knowledge management and talent management within organizations. Importantly, this approach advances the current business literature on talent management by offering novel insights into how knowledge management affects talent identification, satisfaction and retention. This article suggests new insights to identify knowledge management as a primary driver of effective talent management for companies. Therefore, I suggest that executives embrace knowledge management. My primary focus is on one factor (talent management) but there are many more important components of the managerial function that can be enhanced when knowledge management is embraced. The key here is that there are positive effects of knowledge management on talent management.

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Rowley, J. (2001). Knowledge management in pursuit of learning: the learning with knowledge cycle. Journal of Information Science, Vol. 27, No. 4, pp. 227-237.

training

5 Ways To Improve Your Training and Achieve Measurable Business Results

U.S. companies spend billions of dollars a year on training, but how many of those businesses are seeing positive, measurable results from such a large investment in their employees?

Not enough of them, studies and experts say. One study on workplace training reported that 43 percent of employees found their training to be ineffective.

“I doubt that many employees would rate their training as engaging, rigorous, or highly effective,” says Dr. Jim Guilkey (http://www.jimguilkey.com), author of M-Pact Learning: The New Competitive Advantage — What All Executives Need To Know. “For most trainees and trainers alike, job-required education is viewed as a necessary evil.”

So how can companies train their employees better and from that training produce outcomes that grow the business? Dr. Guilkey says it comes down to employing effective instructional design methodologies rather than traditional models.

“Traditional training often doesn’t work for companies today in competitive marketplace environments where growth is essential to survival,” he says. “The training is usually developed and delivered by subject-matter experts who have little or no knowledge of instructional design. Assessments test rote memorization rather than the ability to apply specific knowledge in authentic situations.”

Dr. Guilkey suggests some new learning solutions and why he thinks they’re more effective than traditional training methods:

Problem-based. “Problem-based learning involves a strategic approach of structuring the learning process within authentic, challenging, and multidisciplinary problems the learner must address,” Guilkey says. “This results in higher levels of learning than content-based, traditional training, which teaches content with little or no application to authentic, real-world problems.”

Continuous learning. “As opposed to singular-event learning, continuous learning is an ongoing process that allows learners time in the field to assimilate and apply new knowledge before learning more advanced concepts,” Guilkey says.

Collaborative learning. A variety of interactions between peers, mentors, and facilitators fills in gaps, answers more questions, and reinforces the learning process. “This differs from the traditional method in which the learning is limited by focusing on the lecturer — a one-way transmission of content,” Guilkey says.

Multidisciplinary. The traditional approach focuses on singular concepts presented in a linear fashion, whereas the multidisciplinary approach “requires participants to combine and correlate learning across concepts and use real-life scenarios,” Guilkey says.

Testing for application of knowledge. Guilkey thinks assessment should be based on the performance of a strategic task, in which learners apply their skills and knowledge, rather than the traditional style of testing for rote memorization. “There’s a huge difference between being able to recall pieces of information and having a performance-based measurement to put all the pieces together,” Guilkey says.

“Many company leaders are unclear on the actual skills and knowledge of their employees and whether they are providing a competitive advantage,” Guilkey says. “You’ll never create a competitive advantage using traditional training methods.”

__________________________________________________________

Jim Guilkey, PhD (http://www.jimguilkey.com) is the author of M-Pact Learning: The New Competitive Advantage — What All Executives Need To Know. He is the president of S4 NetQuest and a nationally recognized expert in instructional design and learning strategy, with extensive experience in leading the design, development, and implementation of innovative, highly effective learning solutions. Under his leadership, S4 NetQuest has transformed the learning programs for numerous corporations, including Johnson & Johnson, McDonald’s, Merck, Nationwide, Chase Bank, BMW, Cardinal Health, Domino’s, GE Medical, Kaiser Permanente, Yum! Brands, and others. Guilkey is a frequent speaker at national conferences and corporate training meetings. Before co-founding S4 NetQuest, Guilkey served as the assistant director of flight education at The Ohio State University. He received a BS in aviation and an MA and PhD in instructional design and technology from Ohio State.

ATS

How an ATS Can Help Your Business Survive and Thrive in the Digital Era

It is very clear why you are looking for elusive talent in a niche where it is already lacking, trying to convince your top choice candidates to consider you and not your competitors and evaluating the right fit for a given position – all with a restricted recruitment budget and a deadline. Having an ATS at this point can turn the tables and give you a competitive edge. And you need it because it empowers you to significantly move the needle on improving the quantity and quality of hires.

You can either run a business that makes forward progress or you can deal with an overflowing email inbox, sort resumes, screen applicants, schedule interviews, make phone calls and interview them. Fortunately, you can leverage technology to do all the legwork and stay focused on getting the right people who can grow your business.

What is Applicant Tracking System and Why Use It

An applicant tracking system helps streamline and speed-up the sourcing process by automating manual aspects of recruitment so you can save time and stay focused on selecting the right fit. A feature-rich applicant tracking system includes:

-Automated job postings

-A branded careers site that is mobile-responsive

-Job board and social media integrations

-Smart filter intelligence

-Real-time dashboards

-Auto-generated recruitment reports

-Customizable recruitment workflows

-Personalized email templates and text messages

-A centralized candidate database

-Unlimited cloud storage

If all of these features sound terrific to you; imagine the enormous savings they will bring your business in terms of time, effort and money.

Time savings

Manual job postings take up a ton of your time. Promoting your open positions on different social media platforms can take up precious hours of your productive day leaving you little time to focus on your core business processes. If you thought this is it, now comes the actual task that will test your patience and your sanity – opening emails, downloading resumes in different formats, screening and sorting applications, and shortlisting candidates for interviews.

Using online recruitment software automates all of these mind-numbing activities in an instant, freeing up your valuable time for things that actually matter.

A Seamless and Superior Candidate Experience

Today’s tech-savvy job seeker expects you to deliver a positive candidate experience at every step of the sourcing process. Online recruitment software makes it easier to ensure a rich end-user experience with a mobile-responsive careers site, allows you to customize the application process to make it quick and easy for your busy candidates, keeps them involved at every stage with automated emails, sends them interview reminders to eliminate no-shows and gives you a competitive edge when it comes to candidate management. Also, with Google’s increasing emphasis on mobile-responsiveness, having an applicant tracking system can make or break your talent pool.

Improved Collaboration

Online recruitment software keeps the entire team in sync and updated with a centralized, easy-to-access framework. It ensures a collaborative recruitment environment where you can share candidate ratings and reviews in real-time, use @mentions to notify specific team members, set automated interview reminders, access recruiting data on-the-go with a mobile app, and keep candidates engaged in a timely and professional manner with personalized emails – all without the hassles of maintaining paperwork.

Actionable Insights

Using an applicant tracking system allows you to leverage real-time insights with intuitive reports that facilitate informed decision making. With more actionable data at hand, you can make better hiring decisions. You can also leverage these intelligent reports to get a clear snapshot of your recruitment operations and evaluate the performance of different job boards and social media platforms. This helps improve hiring efficiency by enabling you to focus your efforts on the right resources.

_______________________________________________________________

Kelly Barcelos is a progressive digital marketing manager specializing in HR and is responsible for leading Jobsoid’s content and social media team. When Kelly is not building campaigns, she is busy creating content preparing PR topics. She started with Jobsoid as a social media strategist and eventually took over the entire digital marketing team with her innovative approach and technical expertise.

2020

Survey: Business Leaders Start 2020 with Lingering Concerns About Talent Shortages & Recession Risk

A new survey reveals that the world’s chief executives view the risk of a recession as their biggest external concern in 2020. Attracting and retaining talent ranks as their top internal concern. They also feel unsettled by trade uncertainty, political instability, and more intense competition from disruptive technologies. However,
they plan to counter such forces by developing more innovative cultures and new business models.

Conducted annually since 1999 by The Conference Board, this year’s survey gauged nearly 750 CEOs and nearly 800 other C-Suite executives from mainly four regions: Europe, Latin America, Asia, and the United States. As part of the survey, participants weighed in on which external and internal issues warrant the most immediate attention in 2020.

External Concerns in 2020

Recession fears top the list

Global: For the 2nd year in a row, CEOs and other C-Suite executives globally rank a recession as their top external worry
in the year ahead.

US: For US CEOs, a recession rose from being their 3rd biggest concern in 2019 to their top one in 2020. The issue surpassed cybersecurity, their top concern in 2019.

Elsewhere: A recession also tops the list of concerns of Chinese and European CEOs, and is the runner-up for Latin American and Japanese CEOs.

Widespread concern over trade uncertainty

Global: CEOs globally rank uncertainty about global trade as their 2nd biggest external worry in 2020.

US: It ranks as the 4th biggest worry of US CEOs, tied with its affiliate issue: global political instability.

China: Chinese CEOs rank trade uncertainty as their top worry, tied with their fear of a recession.

Latin America and Europe: CEOs there rank it 1st and 3rd, respectively.

Chinese CEOs feeling the effects of economic sanctions

China: Chinese CEOs rank the effects of economic sanctions as their 5th biggest external worry, tied with the issue of more demanding customers. Their concern about sanctions is the highest-ranking by any country by a big margin.

What it reveals about US-China trade tensions: The role technology plays in this conflict is deep and enduring. Tariffs are likely to be temporary and easily subject to negotiation, but technology blockades, via economic sanctions, are not.

Competition intensifies

Global: For CEOs globally, fiercer competition rose from being their 4th top external worry in 2019 to their 3rd in 2020.

US: For two years in a row, US CEOs cite the issue as their 2nd top external worry.

China: For Chinese CEOs, concerns about fiercer competition rose from being their 7th in 2019 to their 3rd in 2020.

Cybersecurity budgets increase, but strategy remains elusive

Bigger budgets: More than 70% of responding CEOs globally plan to increase their cybersecurity budgets in 2020.

But unclear strategy: Almost 40% of responding CEOs globally say their organizations lack a clear strategy to deal with the financial and reputational impact of a cyber-attack or data breach.

Climate change heats up

Global: For 2020, CEOs globally ranked the impact of climate change on their business as 9th, up from 11th in 2019.

Driving the momentum: CEOs in Latin America (4th, up from 10th in 2019) and Europe (8th, up from 13th in 2019).

“The ongoing concerns about recession risk among business leaders reflect the slowing economy of the past year and the uncertainties about the outcome of the trade disputes and other policy concerns,” said Bart van Ark, Chief Economist at The Conference Board. “However, given a slightly better outlook for the global economy and an easing of trade tensions, we anticipate that a drumbeat of negative sentiment – which can become a self-fulling prophecy – can be avoided, and that we  will see more confidence about business prospects in 2020.”

Internal Concerns in 2020

The number-one priority: attracting and retaining top talent

-Widespread agreement: Regardless of a company’s location or size, attracting and retaining top talent ranks as the number-one internal stressor for CEOs and other C-Suite executives globally in 2020.

-What’s intensifying the talent battle? A tight labor market, among other issues. CEOs globally, for example, cite the tight labor market as their 5th biggest external worry in the year ahead.

Developing innovative products and cultures are a key focus

Create new business models because of disruptive technologies: CEOs and other C-suite executives globally rank it their 2nd top internal priority.

Create a more innovative culture: CEOs and other C-Suite executives globally rank it their 3rd top internal priority.

Widespread commitment to cultivating leaders for the future

Global: CEOs and other C-Suite executives globally rank developing “next-gen” leaders as their 4th top internal priority.

Japan: Japanese CEOs rank this issue as their number-one internal priority, ahead of all other internal issues.

Women C-Suite executives more concerned about equal pay for equal work

Women: Globally, implementing equal pay for equal work ranked as their 6th top internal priority.

Men: Globally, the issue ranked as their 15th top internal priority.

“The global challenge in acquiring and retaining talent requires companies to be more strategic – knowing not only what qualities and skills to recruit for, but also how to recruit more efficiently and effectively,” said Rebecca Lea Ray, Ph.D., Executive Vice President of Human Capital at The Conference Board. “To support such efforts, they can consider leveraging artificial intelligence, a valuable tool when used with the proper understanding and safeguards.”

Mature-Market CEOs vs Emerging-Market CEOs

The survey results reveal much agreement between CEOs in mature economies (436 respondents) and emerging markets (304 respondents). But, some stark differences exist when it comes to which issues they plan to prioritize in 2020.

3 External Differences

Tight labor market
-Mature-market CEOs rank the issue as their 3rd biggest external concern. Emerging-market CEOs rank it 10th.

Uncertainty about global trade
-Emerging-market CEOs rank the issue as their number-one external concern. Mature-market CEOs rank it 4th.

Declining trust in political and policy institutions
-Emerging-market CEOs rank the issue as their 5th top external concern. Mature-market CEOs rank it 8th.

3 Internal Differences

Create new business models because of disruptive technologies
-Emerging-market CEOs rank the issue as their 2nd top internal priority. Mature-market CEOs rank it 4th.

Manage mergers and acquisitions
-Mature-market CEOs rank the issue as their 7th top internal priority. Emerging-market CEOs rank it 12th.

Build a more inclusive culture
-Mature-market CEOs rank the issue as their 8th top internal priority. Emerging-market CEOs rank it 16th.

“When it comes to creating new business models because of disruptive technologies, there is more urgency among  emerging-market CEOs than those in more mature economies,” said Chuck Mitchell, Executive Director of Knowledge,  Content, and Quality at The Conference Board. “This should raise a warning flag about possible complacency considering the current speed of disruption. The truth is that, today, companies no longer enjoy the luxury of a decades-long lead time to adapt to the digital revolution.”

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Media can contact The Conference Board for a copy of the full survey results.

The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, they
are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conferenceboard.org

Republished with permission

younger generation

How To Entice The Younger Generation Into Utility Careers

Unfortunately, there is a serious age crisis within the energy and utility sector at the moment. Many companies recognized, in approximately the 1990s, that they were facing a severe problem with the age demographics of their workers: younger people didn’t want to work in these areas, due to a number of factors such as better access to alternative education and a lack of faith in the sustainability or career options within such career pathways. However, this has only really started affecting business now, since the older wave of workers are beginning to retire, leaving energy companies scarce of any manpower. So, in these dire times, we must look to the younger generation to fill the gaps and become the new driving forces in the energy and utility sectors, but how can you entice them into joining your company?

Changing Attitudes

Of course, not all of your older workers are going to disappear overnight, so you have to consider the effect and impact that focusing on the younger generation might have on them, due to many cultural and societal clashes which are common between the differing ages of workers. Older workers may see younger workers as finicky and addicted to their material possessions – think less antiques and hand-me-downs and more iced coffees and mobile phones – which may create friction within the workplace which could put off younger workers. Make sure that any pre-existing staff are educated on diversity and how to be welcoming to the younger generation, and inform them of the changes which you are trying to make to the workforce, and the reasons behind your doing so. Education is the best way to avoid this being a problem.

Think Local

“Often, the best talent – and the most willing to work in our areas – is found locally,” says Richard Ford, an HR at Thesis Writers and Big Assignments, “since we often find that implementing training with the surrounding education centres and informational days for students is the way to go. Many kids from the cities won’t know much about creating electricity or the jobs which are involved with energy, but if we reach out to the students living around our workplace and teach them how they can go far in our business, often the pull to stay near home and find a stable job leads them to join a career in our sector, since they can often stay near family and childhood friends, and work and live in a town which they are familiar with.”

In short, education – not only of your staff, but also your possible future staff – is the way to go. Make sure that you are taking advantage of every opportunity to reach out into the local schools and colleges and inform the students of the career options which they have, which are closer to home than frightening and unknown office jobs in big cities with long commutes.

Appealing To The Younger Generation

“The current workplace has been shaped by the older, “baby boomer” generation, who helped to make the culture and social atmosphere of workplaces everywhere appear how they are today,” explains Amanda Wills, an HR at Dissertation Writing Service and Essay Services.

However, in order to appeal to the younger generation, you may need to make a couple of changes, keeping in mind the differing social climate of today. Generally, younger people are more conscious of their social standing, in regards to giving back to communities, so making sure that your company does a lot of work in the community is vital. Younger workers may also want to have more of a say in how the company is managed, so letting them take part in important decisions and making sure that everyone feels like their voice is being heard is also a good idea.

“Although they’re not ‘snowflakes’, younger people do require a different working climate to the generation which we are used to, which may make appealing to them seem a little difficult at first,” Jade Coates, a journalist at UKWritings and Boomessays, states, “but once you have put the changes in place, you’ll find it easy to attract younger workers and revive the life in your workforce, or so to speak! Education is usually the best method, but making sure that you are open and honest is also important, and keeping all rules and regulations (including social guidelines for your working staff) regularly updated is also a good idea, to remove any chances for friction or problems before they can happen.”

Summary

The younger generation may seem difficult to attract to jobs in the utility and energy sectors, but it only takes a little bit of change to get them on board. Investing in education opportunities and keeping your current staff up-to-date and welcoming is always a plus, and developing your workplace for the modern era by keeping the community and social morals in mind can make your company appear more inviting and viable.

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Aimee Laurence writes professionally for Top Assignment Writing Services NSW and Research paper help services. She has a personal interest in the energy industry and enjoys spreading her knowledge on the creation of electricity and the workforce behind it. Also, Aimee is a tutor at Student Writing Services.