|A flex-able future: Integrating workplace flexibility at financial institutions
Workplace flexibility—alternating the time, place, and/or way of working—is one of many factors that can impact the ability of financial institutions to achieve their business objectives. In an era of talent shortages in which Millennials and others are seeking rewards beyond compensation alone, flexibility is at the core of a strong employee value proposition. By offering flexibility, financial institutions can differentiate their brands, boost productivity, reduce costs, and gain a competitive edge in the market for skilled employees.
|What is HR's role in your business strategy?
HR leaders are increasingly using technology to advance their organizations’ strategic talent goals.
|Cure for the common culture: How to build a healthy risk culture
What does it take to build a sustainable risk-resistant culture? We surveyed global banking leaders to find out.
|HR: Delivering more for less. What sets top performers apart?
People have become accustomed to the ease, speed and intuition of the on-line shopping experience. They now want this in other aspects of their daily lives, including their interactions with HR. Organisations also want HR to inform workforce plans with the same rich data and analytics used in customer profiling and other forms of business intelligence. The credibility HR needs to play a full part in strategic management depends on its ability to meet these demands.
At the beginning of 2014, we surveyed 150 organisations from around the world to find out whether their operational teams are equipped to meet these expectations. Our report looks at that factors that marks out the most effective HR operations and the developments needed to keep up with the constantly rising bar of business demands.
So what sets top performers apart?
|The future of work: A journey to 2022
Our report focuses on three possible future ‘worlds of work’ - Green, Blue and Orange - which provide a lens through which to examine the way organisations might operate in the future. We look at how the characteristics of these three worlds of work are likely to be shaped by the changes coming up over the next eight years. This includes setting out the recruitment, reward and employee engagement strategies that are likely to be most relevant as these worlds evolve, and what this means for businesses, workforces and HR.
|10Minutes on organizational DNA
Ever wonder why some companies consistently deliver while others disappoint? Faced with the same market, stocked with similar talent, one organization flourishes, while the other flounders. By understanding what makes your organization tick and where there might be breakdowns to address, you and your employees can truly deliver on your strategic intent.
|Equipped for the future: Re-inventing your organisation
Most financial services businesses are organised and run for a marketplace that is fast disappearing. How can you make sure your business is equipped to compete?
This report deep dives into the forces driving change and proposes five main building blocks for the new organizational paradigm drawing on the insights of PwC’s sector experts.
|The talent challenge: Adapting to growth
17th Annual Global CEO Survey
Businesses and their leaders face some pressing questions about their future talent pipelines and human capital strategy. Global megatrends are changing the talent landscape at the same time that the global economy regains its confidence and looks towards growth. This is an in-depth look into the talent challenge facing Global leaders today, as found in our 17th Annual Global CEO Survey.
|Building a bridge between today's talent and tomorrow's skills
Findings from 2014 US CEO Survey
Sixty-two percent of US CEOs plan to increase headcount this year, reflecting an expected pick-up in the US economy in 2014 and certainly contributing to the concerns over talent shortages. What does this mean to talent strategies and long-term workforce plans?
|Trends in workforce analytics - Capturing the latest results from US Human Capital Effectiveness Benchmarks, 2014
Market demand for workforce analytics is on the rise as business leaders increasingly recognize that the right talent is critical to bringing business strategies to life. Equally important is the ability to access and analyze the right information to support talent-related business decisions. For their part, many HR departments are beginning to recognize that delivering the right insights at the right time requires the creation of a new competency–one that incorporates the development of new workforce analytics deliverables, an organization that can produce them, the tools and technology to create them, and an approach to boost usage and adoption.
|Workforce of the Future: How strategic workforce planning can help financial institutions today, tomorrow and beyond
Top-performing teams don’t happen by accident; they’re built to support an organization’s strategy and culture. Do you have the people who can make your strategy happen?
|Adapt to Survive
The need for markets to adapt to change is nothing new. In countries where a workforce lacks the skills that are suddenly in demand we see a skills gap emerge. Our analysis has led us to create a Talent Adaptability Score – a benchmark that evaluates a country’s ability to match talent with opportunity. 'Adapt to Survive' sets a new benchmark for evaluating a country’s ability to match talent with opportunity and the movement of people between industries – the Talent Adaptability Score.
|The connected employee experience for Technology businesses
The workforce is changing for all industries, and employers are no longer in the driver's seat. Technology companies that build a unique connected experience for their employees will drive up innovation and productivity by increasing employee job satisfaction.
|Disruptive innovation in HR
Setting the stage: The state of HR technology today
HR technology is in a state of disruptive innovation. Multiple significant market forces are keeping HR technology departments on their toes; at the same time, these market shifts are providing great opportunities for HR departments to deliver more value. The question is: Will HR departments position themselves to take advantage?
|Putting the success in succession
Succession planning done right sets the growth course. It aligns with talent processes, mends gaps and develops future leaders for success. But too often, it doesn’t get the attention it deserves unless a crisis forces it on the agenda. True planning for the workforce of the future, for the success of the future—means addressing succession planning today.
|HR Innovation - Summer/Fall 2013
HR Innovation offers advanced thinking about the challenges that should be uppermost on the minds and agendas of organizations and their Human Resources (HR) leaders. In this issue of HR Innovation, we focus on the continually changing HR landscape and what organizations need to do to take control of today’s opportunities and tomorrow’s decisions.
|Talent Strategy: The missing link to the connected workforce
This snapshot from PwC’s Digital IQ survey looks into how C-Suite “digital conversations” should focus on talent strategies needed to harness new technologies—and include the CHRO, who is often missing from the C-suite conversation.
|Mending the gender gap: Advancing tomorrow's women leaders today
Women continue to dramatically lag behind their male counterparts in leadership roles. Women make up 35% of the global workforce across all industries -- but only 17% progress to leadership roles. More alarming, women hold only 12% of board seats and a mere 5% of CEO positions. What talent strategies can companies take to expand their pipeline of women leaders and help close the gender gap?
|PwC’s NextGen: A global generational study
Conducted by PwC, the University of Southern California and the London Business School, this study captures the various forces at play that are influencing the experience of Millennial employees.
|Seizing back the people agenda
Our vision of how to regain control of the people agenda and bring people strategies into line with the wider reshaping of your business, starts with two fundamental questions: What are the new objectives for the business? What people strategy components are needed to support and deliver them? Addressing these questions will make sure your business is more likely to have the right people, with the right skills and motivation to contend with the new market realities and take the business forward.
|Talent mobility: 2020 and beyond
The business world is in the midst of fundamental change and in the next decade the ability of organizations to manage their global talent efficiently will mark the difference between success and failure.
|10Minutes on talent priorities
Talent continues to top the list of executive concerns. And it’s no wonder, given its far-reaching impact on every aspect of corporate strategy and operations. But instead of thinking solely in terms of their people strategy, company leaders are zeroing in on where talent makes a fundamental difference in business strategy. They are focusing on how talent can help them achieve the following four strategic priorities: power growth, realize ROI, manage risk, and enable transformation.
|Are you getting the most from your talent? Understanding and overcoming the common pitfalls in performance management
Lack of organizational alignment around performance management programs often leads to employee dissatisfaction and disengagement with the program. For performance management to be effective, senior management must make clear choices regarding the objectives behind performance management and the level of effort spent on these programs. Without that clarity, organizations are likely wasting precious time and money. Program participation will be low, employees will be dissatisfied, and managers will be ill prepared to guide their teams. Once alignment is established and objectives communicated, however, organizations will be ready to build performance management programs that are fit for purpose.
|HR Innovation - Summer 2012
Talent is at a premium. Misalignment between available workers and needed skills, along with expanding timeframes for finding talent are limiting the ability of companies to fully pursue growth agendas. The days of cost cutting, hiring freezes, and hamstrung budgets have yielded to a pressing need for businesses to get back to growth and for HR to mobilize and manage the talent that can make it happen.
|Driving high-performing shared services and outsourcing
Organizations are increasingly leveraging shared services and outsourcing initiatives to reduce costs, increase efficiency, achieve greater agility and improve compliance. When companies leverage the power of their people to effectively manage change, positive things start to happen.
|Addressing the change constant: Successful change from the inside
How an organization develops its change management capability may vary, depending on the organization’s distinct culture, needs, characteristics, circumstances, and the skill levels of its staff. Three basic models for an internal change management capability.
|Human Resources Transformation: Is it driving business performance?
As companies embrace globalization, technology, and competitive pressures, local labor markets are rapidly evolving and changing—and the skill shortages are pushing human resources into the front lines of acquiring, developing, and retaining talent.
|New solutions to close the skills gap
Despite an 8.3% unemployment rate, employers across the US continue to have difficulty filling millions of available jobs. These jobs remain vacant because employers cannot find the qualified workers they need. It is important to note that the skills gap is not simply an American problem. In fact, according to PwC’s annual survey of global CEOs, an inability to find enough skilled talent is the number one concern of business executives around the world.
|Delivering results through talent: The HR challenge in a volatile world
In this PwC article over 1,200 CEOs talked about their global talent management issues - and how HR should react.
|Communicating change for M&A integration success
Cultural integration and communication issues are top factors that challenge M&A success. Successful organizations see the strategic value in communicating with employees before, during and after and organizational transition.
|Measuring ROI to maximize change effectiveness
While there is no single approach or framework to measure the ROI for change, there are three commonalities in the four common approaches: high-quality change management practices, a mature program management framework, and an agile organization. We call this synergy the "Change Trifecta", and when properly executed, your investment in change transforms from a mere costs to an enduring benefit.
|Change is happening: Is your workforce ready?
Many power and utility companies are aware that the aging workforce is a significant risk to their operations, but they struggle with how to best address industry changes within their organizations, according to respondents to a utilities industry survey conducted by PwC Saratoga in May 2011.
PwC’s survey looked into four areas in which successful, innovative and forward-thinking power and utility companies are effectively addressing change: developing and retaining leaders, effectively leveraging performance measurement and technology, realigning the organizational structure, and ensuring that the Human Resources (HR) team plays a significant role in overall business strategy.
|Why people integration continues to dominate M&A challenges
People issues are increasingly being recognized as strategic elements in M&A transactions, and HR professionals are being invited to the table more frequently and earlier in the deal process. These findings and more are discussed in this summary of a survey of senior management from a sampling of large capital and middle market US companies that had completed a merger or acquisition in the previous three years and the subsequent roundtable discussion.
|The power of the Net Generation: How to engage milliennials using workplace technology
The Net Generation will redefine the workplace of tomorrow: It will be social, collaborate, and fully digital. Learn how HR can lead workplace change, build awareness of this shift and develop strategy that uses technology to engage workers in ways that drive growth and innovation.
|10Minutes on updating flexibility strategies
Do your organization's flexibility policies acknowledge the diversity of today's employees, and the diversity they want? This edition of 10Minutes discusses why new approaches to flexibility that acknowledge the diversity of today's employees are needed to improve employee performance and foster loyalty and commitment. Offering just one or two flexibility options no longer suffices. New approaches being tried by innovative companies are thought-provoking and encouraging, but more works needs to be done.
|Change is certain. Are you? How to alter your organization’s views on change and strategy
Over the course of the past few tumultus years, one thing has not changed much. A majority - about 75% - of change initiatives fail. In these cases, change is more chronic than constant, as organizations let an important lifeline to future success and slip through their hands. A rigorous change process, in which challenging questions are addressed and no assumption goes unturned, can unveil crucial information about stakeholders’ perceptions of change-readiness and help breathe new life into an organization and its team.
|Cloud Computing and the Role of the CHRO
Today's HR leaders are expected to deftly make strategic or enterprise-wide hires, retain top talent, and create a superlative work environment. Many have adopted cloud computing to help meet these challenges.
|Cure for the Common Culture: Building Effective Risk Cultures at Financial Institutions
In its recently released final report, the National Commission on the Causes of the Financial and Economic Crisis concluded that the crisis of 2007-09 was caused partly by a failure of risk management, with ignored warnings, unasked questions, and mismanaged risk. In response to this failure, the Dodd-Frank Act and other legislative and regulatory initiatives imposed new risk management and oversight requirements.
|Harnessing the power of crowdsourcing: Does your company stand out in a crowd?
Crowdsourcing enables a company to broadcast an issue to a diverse audience — using a variety of social media and collaborative software solutions — and ask them to contribute ideas to solve the problem. Organizations that have tried this have experienced surprising solutions to internal problems and innovation needs.
|Workforce inclusion: maximizing business performance --- Is your top talent flying under the radar or soaring to its full potential?
The workforce taking shape today, while divergent in many ways, shares an undeniable and natural affinity for flexibility, fresh perspectives, individuality, mobility, and personal satisfaction.
|Point of view : HR Business process outsourcing
As the first wave of HR BPO contracts expire, HR leaders are being forced to decide whether to renegotiate- or retire- existing outsourcing agreements. Negotiating an outsourcing agreement, whether with an incumbent vendor or a new provider, represents a powerful opportunity to achieve new efficiencies in costs and processes. Yet it is fraught with potential missteps that can adversely impact the organization’s operations for years to come. The decision comes down to three options: Renew, revise or replace.
|Growth reimagined: The talent race is back on
As economic recovery takes hold, the developed world is set to grow at half the pace of emerging markets. Based on our 14th Annual Global CEO Survey, many CEOs fear they won't have the right talent to compete effectively, and recognize that their current strategies for managing talent no longer fit - 83% of CEOs plan to make a change. In this paper, we share our insights concerning innovative talent strategies for success in the next decade.
What's your workforce reduction IQ?
It is not a new concept that people represent a company's biggest source of competitive advantage. Yet, the current market conditions have made workforce reduction an unavoidable element of cost reduction efforts for many companies. So how can companies make reductions in force without losing their pivotal talent to drive the business forward? Read our new talent management publication, What's your workforce reduction IQ? Talent strategies for tough times, to find out how
How leadership must change to meet the future
Successful business leaders must shape their organizations to be more nimble and flexible, less hierarchical, and more networked—in short, better organized to deliver value. The focus should be on four key emerging business revolutions: agility, authenticity, talent, and sustainability. In this paper we address what leaders need to know about each of these revolutions and how they can be translated into success quotients to define a distinctive leadership framework—one that provides direction on what it will take to lead and shape organizations in the future.
Harvesting value while reducing costs: A rapid approach to organizational restructuring
Financial services executives view access to key talent as a crucial source of competitive advantage. As CFOs carry out cost-cutting initiatives, they cannot afford to risk cutting the wrong people. Using a staged approach to cost reduction enables companies to build on quick wins and gradually create a culture of cost management. Value-based organizational restructuring, which quickly generates cost reductions without sacrificing valuable talent, can help fund subsequent reduction efforts, including sourcing, process reengineering, and technology automation, while optimizing the long-term value of the organization and its talent.
How to ensure strong leadership for the future
This PwC point of view examines how companies can define a transparent road map for continuous development and ensure that senior leaders play a key role—not just in the formal development, but also in the mentorship of high-potential talent.
Insights and trends: Current program and project management practices
This document summarizes the results from a survey on the current state of project management maturity in organizations across the world. The survey's main objective was to identify current trends in project management and pinpoint the characteristics of project management that are applied on higher-performing projects.
Key trends in human capital: A global perspective
Saratoga presents an analysis of key human resource trends facing global businesses. The analysis encompasses data from over 15,000 organisations across a range of industries including banking, financial services, manufacturing, telecommunications, chemicals, Information Technology utilities and retail and a cross section of public service institutions. It reveals the important human capital issues facing global business, and measures the total value of human capital and return on investment.
Managing tomorrow's people: The future of work to 2020
This publication outlines a series of possible scenarios depicting how businesses would operate in tomorrow's world. We specifically focus on the people impact of new business models, and the ramifications for people management and the HR function. We identify three scenarios defined as blue, green and orange worlds which we believe will co-exist in 2020.
The people agenda: Optimizing performance at the front line
The people agenda identifies three major dimensions of managing people that are likely to determine how successful a CEO can be in realising their strategic objectives: Attracting and retaining the right talent; increasing the effectiveness of people in the business; and managing people through change. It offers some brief perspectives on each of these issues to help build a picture of the people management challenges facing organisations and how they might begin to address them.
Talent and risk: The strategic risks of neglecting talent
This flyer, examines talent management within the financial services industry. It looks at 7 key risks associated with talent (Failure to sustain growth: Failure to secure succession: Failure to attract emerging talent: Failure to retain top performers: Failure to provide board-level direction: Failure to provide effective support; and Failure to weed out poor performers) and suggests way of tackling them.
Technology executive connections: Successful strategies for talent management
PwC examines the ongoing challenge of talent management, so critical to growing a successful technology company in today's competitive market. The quantitative findings presented in this report are based on a survey conducted by the economist intelligence unit (EIU) in June 2006. The survey garnered 153 responses from senior executives based in five principal regions: 30% Asia, 41% Europe, 23% North America, 5% the Middle East and Africa and 1% Latin America.
US human capital effectiveness report 2008/2009
This executive summary provides analysis on trends PwC Saratoga has uncovered through it's annual human capital survey and is organized around the following key themes: Managing workforce productivity in a volatile economy, turnover trends, the talent acquisition crisis, and the role of HR in developing talent initiatives.