WEBVTT 1 00:00:00.120 --> 00:00:03.000 If you work in HR, you are probably tired 2 00:00:03.000 --> 00:00:04.950 of hearing the statement, 3 00:00:04.950 --> 00:00:07.290 "You need to be more strategic." Still, 4 00:00:07.290 --> 00:00:09.900 let me talk a little bit about what I think that means 5 00:00:09.900 --> 00:00:12.870 and how can HR leaders reach the point of being seen 6 00:00:12.870 --> 00:00:14.160 as strategic partners. 7 00:00:14.160 --> 00:00:16.800 First of all, why is this increasingly important? 8 00:00:16.800 --> 00:00:20.010 Because we are facing a disruption of the talent market 9 00:00:20.010 --> 00:00:21.750 that we have not seen before. 10 00:00:21.750 --> 00:00:23.820 And this is coming from three directions. 11 00:00:23.820 --> 00:00:26.130 One, we are running out of people, 12 00:00:26.130 --> 00:00:27.900 especially in the developed world. 13 00:00:27.900 --> 00:00:31.350 We'll be missing over 300 million working-age 14 00:00:31.350 --> 00:00:32.910 talent due to aging. 15 00:00:32.910 --> 00:00:35.190 And immigration may not have saved this 16 00:00:35.190 --> 00:00:37.770 as not all countries are really focusing on a 17 00:00:37.770 --> 00:00:39.210 global talent footprint. 18 00:00:39.210 --> 00:00:41.880 Second, even if we don't find the people, 19 00:00:41.880 --> 00:00:43.290 they won't have the right skills. 20 00:00:43.290 --> 00:00:45.720 Think we've all heard statistics of billions 21 00:00:45.720 --> 00:00:48.660 of people needing to up-skill, jobs being replaced. 22 00:00:48.660 --> 00:00:51.180 Yet, I think we still underestimate how big 23 00:00:51.180 --> 00:00:53.220 of a disruption this is going to be. 24 00:00:53.220 --> 00:00:54.870 All workers will need to change 25 00:00:54.870 --> 00:00:56.520 to multiple entirely different 26 00:00:56.520 --> 00:00:57.780 careers throughout their life. 27 00:00:57.780 --> 00:01:00.090 And our current skilling ecosystems are not 28 00:01:00.090 --> 00:01:01.410 set up to support them. 29 00:01:01.410 --> 00:01:04.380 And third, even if we find the people with the right skills, 30 00:01:04.380 --> 00:01:06.000 they may not want to work for you. 31 00:01:06.000 --> 00:01:08.760 What we've seen through different studies is the preferences 32 00:01:08.760 --> 00:01:12.030 of especially younger workers changing quite drastically. 33 00:01:12.030 --> 00:01:14.370 People don't live to work anymore. 34 00:01:14.370 --> 00:01:15.840 They rather work to live, 35 00:01:15.840 --> 00:01:18.960 and their expectations on climbing a career ladder are not 36 00:01:18.960 --> 00:01:20.280 what it was before. 37 00:01:20.280 --> 00:01:23.190 So in this situation where we don't have enough talent, 38 00:01:23.190 --> 00:01:24.420 they don't have the right skills, 39 00:01:24.420 --> 00:01:28.260 and they are even getting pickier, it comes to HR to be able 40 00:01:28.260 --> 00:01:30.720 to provide answers to these questions. 41 00:01:30.720 --> 00:01:32.970 And these questions are not HR questions. 42 00:01:32.970 --> 00:01:35.400 They are questions that may fundamentally disrupt 43 00:01:35.400 --> 00:01:38.790 how the organization works, such as location strategy, 44 00:01:38.790 --> 00:01:40.890 which countries should we be presenting? 45 00:01:40.890 --> 00:01:43.350 Skill management, how do we hire people 46 00:01:43.350 --> 00:01:45.330 and move people based on their potential 47 00:01:45.330 --> 00:01:46.980 and not based on their degrees? 48 00:01:46.980 --> 00:01:49.920 Organizational design, how do we organize 49 00:01:49.920 --> 00:01:51.840 and how do we work to be receptive 50 00:01:51.840 --> 00:01:55.020 and be able to adopt to disruptions? On workforce planning, 51 00:01:55.020 --> 00:01:58.020 what do we need from a people perspective-and not tomorrow, 52 00:01:58.020 --> 00:01:59.790 but in 5, 10 years to be able 53 00:01:59.790 --> 00:02:01.350 to deliver our business strategy? 54 00:02:01.350 --> 00:02:03.660 HR leaders who have answers 55 00:02:03.660 --> 00:02:07.140 to these questions will hopefully have cracked what it means 56 00:02:07.140 --> 00:02:08.580 to be a strategic partner.