HR in BC: Weathering the Perfect Storm

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HR in BCWeathering the Perfect Storm

• Ashley Bennington, MBA, CHRP
• Adjunct Professor, Faculty of Business
  Administration, Simon Fraser University

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Baby Boomers

• 80 million Baby Boomers in North America
• Born 1946 1966
• Pig in a Python generation
• Built schools (SFU, 1965)
• Created consumer demand ? spurned industrial
  production

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The Old Economy1940s 1990s
Physical Capital and Financial Resources Create
Value
Dismissal Mentality
Economic Outputs Goods
Large Unskilled Labour Pool
Manufacturing/ Resources
1 Newspaper Classified, 4 Billion Applicants
Mentality
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The New Economy1990s ? onwards
Knowledge Economy
Small Skilled Labour Pool
Economic Outputs Goods Services
?
Dismissal Mentality
Large Unskilled Labour Pool
Industrial Economy
Economic Outputs Goods
1 Newspaper Classified, 4 Billion Applicants
Mentality
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BC Unemployment Rates
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What is coming?
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Silver Tsunami
1,000,000 People Age 35 - 49
870,000 People Aged 50 64 (20)
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Occupational Injuries, Disability, and Leaves of
Absence

• Injuries, illnesses, diseases, and disabilities
  among workers cost Canada BILLIONS of dollars per
  year
• Younger workers more prone to self-inflicted
  injuries
• Older worker more susceptible to long term
  disabilities
• Knowledge economy mental health issues

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Young and Old Not at Work
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Turnover

• Buried within traditional financial statements
• Actual financial losses
• Work coverage, overtime, burnout, leaves
• Cost of recruitment, marketing, selection,
  orientation, on-boarding, and the 3 year ROI
• 4 point game ? you lose, competitor gains!
• Hot economy higher turnover
• Globalization higher turnover

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Everyone is Replaceable

• Help wanted, requires 2 business degrees, 15
  years of experience, industry specific knowledge,
  and 100 travel required.

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The Storm, The Gap, The Reason Those Punk Kids
Will Be Rich

• Where does this leave BC?
• Migrations retirements leaves of absence
  growth needs HIGH people needs
• Younger generations will be leaders sooner than
  everyone
• Companies unable to practice HR effectively will
  fail
• More people need to go to school, or go back!

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HR Planning ModelGrowth Economy, Shortage
Scenario
y of People
Demand for Skilled People
Technological Impact Work Design
Chronic Vacancies
Staffing Gap
Restricted Economic Growth
Current Staffing Level
Retirements
External Labour Market
Turnover Losses
Leaves of Absence
X time
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Closing the Gap
Use of Technology, Job Organization, Automation,
Scopes of Duty, Occupational Mixes
Demand Strategies
Labour Market Gap
Recruitment, Immigration, New Graduates,
Retirees, Persons on Leave, Productivity,
Telecommuting, Flexible Hours, Training
Development
Supply Strategies
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Changing Macroeconomic Labels
Economic Booms
Economic Recessions
Economic Learning Time ? Provide New Skills to
Retool Economy
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RetirementA Changing Definition

• Old definition stop working, altogether
• New definition transitioning to new work, part
  time work, mentoring, projects, etc once one is
  financially secure
• Potentially LARGE recruitment pool!
• Retirement delay incentives expensive
• Pension structures
• Longevity bonuses

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Where do we find people?
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Recruiting for a New AgeMore Than Newspaper
Classifieds

• Put Marketing HR heads together
• Use more research HR analytics
• Turnover ? who are we losing?
• Demographics ? who works for us?
• Pick an HR strategy
• Chasing Baby Boomers
• McDonalds Grannies
• Video Game Companies ? Gen X/Y Males
• Creativity required Facebook, YouTube
• Demographics AND psychographics ?attracting the
  like minded using values
• Attractive, persuasive marketing, with good ROI!

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Reverse Engineering The New Hire

• I have to train somebody?
• Study your best employees (traits, interests)
• Then examine where they were when younger
• Go hire the younger clone of that person
• Provide them with training
• Give them a career path!

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Make the Job Flashy!

• Recruiter
• sit in office and screen resumes all day
• Career Agent
• spends 60 of time screening
• 20 time giving presentations networking
• 10 at school, learning marketing HR
• 10 on HR metrics and recruitment strategy

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Helping Mom Dad
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Fixing Health Care
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The New Office
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Old Leadership

• Whip Cracking, Screaming, Overseer
• Labour surplus
• Dismissal, recruitment, training ? few weeks
• How they were taught to be leaders from older
  generations (aristocratic, Euro-centric class
  society)

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New Leadership

• Coach, Mentor, Counselor, Supporter
• Look after well-being of all employees
• Dont tell them how to do anything, just what
  needs to be done
• Understands people are assets
• Understands theres a talent/skills/labour
  shortage
• Is self-aware and communicates well

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Thank you!

• Ashley Bennington, MBA, CHRP
• atb_at_sfu.ca
• 604.999.4420