Executive Insights: August Talent Report

Talent Report+THRIVE

Description: In this episode, we’ll explore the August edition of MRA's monthly Talent Report: Diversity, Equity, and Inclusion.

We’ll hear from Jim Morgan, Vice President of Workforce Strategies, on best practices, including:

• Attracting the next generation of customers and staff
• Employee engagement and experience
• Recruiting and the candidate experience
• AI platforms
• Implementing company-wide DEI initiatives

Uncover C-Suite priorities, top creative HR strategies, and more!

Resources:

August Talent Report

Talent Report+ Webinar Series

MRA Membership

About MRA

Let's Connect:

Guest Bio - Jim Morgan

Guest LinkedIn Profile - Jim Morgan

Host Bio - Sophie Boler

Host LinkedIn Profile - Sophie Boler

Transcript:

Transcripts are computer generated -- not 100% accurate word-for-word.

00:00:00:00 - 00:00:21:03
Unknown
Hello everybody and welcome to 30 minute Thrive, your go to podcast for anything and everything HR powered by MRA, the Management Association. Looking to stay on top of the ever changing world of HR? MRA has got you covered. We'll be the first to tell you what's hot and what's not. I'm your host, Sophie Boler, and we are so glad you're here.

00:00:21:05 - 00:00:41:24
Unknown
Now it's time to thrive. All right. Well, welcome, everybody, to this episode of 30 Minute Thrive. I'm excited to go over this month's talent report with Jim Morgan, MRA. Vice president of Workforce Strategies, as we go into what he's been seeing in the world of business in the month of August. So thanks for joining us again this month, Jim.

00:00:42:01 - 00:01:08:16
Unknown
Always a pleasure to come back. Well, for August, it looks like the special topic was on diversity, equity and inclusion, specifically working on efforts in organizations. So why did you choose this DEI topic for this month? Well, I think, you know, it's a topic that we could probably do just about any month, and we hadn't done it yet this year on the talent report, and that now would be a good time.

00:01:08:16 - 00:01:32:19
Unknown
And with the talent shortage and what we've talked about the last six or seven episodes, all of the issues around diversity, equity, inclusion also play into the talent pool as well. And we know what are companies doing in order to to figure that out. And so, Diana, what we brought in from our Ohio office talked about and we talked a little bit more a little bit later about the results.

00:01:32:19 - 00:02:15:13
Unknown
But, you know, she started by talking about, you know, why are we doing this in the first place? And we had just done a survey of our Chief Diversity Officers roundtable. And that's sort of what drove this month's topic. And she had brought to it. Well, you know, here's what they were saying were the reasons that they had a DEA program in their company to build stronger teams, to foster collaboration, to make employees feel valued, to enhance productivity, to create a welcoming environment, to build trust among employers, to attract top talent, to increase retention, to increase business development, and to ensure the production of new ideas.

00:02:15:15 - 00:02:38:24
Unknown
So that list of ten, I thought, well, okay, well, people aren't interested in those ten things and we're really in trouble. So that's kind of what we focused on, was sort of yea, the positives that come out of that, and especially in terms of engaging and retaining. And I can talk a little bit about our elite program here at Amara, but really it's it's just a strategy that I think almost every company is utilizing now.

00:02:39:00 - 00:03:06:15
Unknown
We're just trying to help them see some of the best practices that are out there. Yeah, that was a great list of benefits that you just talked about. And this episode will kind of be a good leeway in to our next week's episode. After this, we're talking about how belonging fits into the diversity, equity and inclusion mix. So understanding that one, yeah, let's kind of go into what's happening in recruiting and retention world.

00:03:06:15 - 00:03:36:18
Unknown
So Jim, what's what are you seeing here that's new? We were wrapping up our internal leadership program, of which you are a proud graduate and we were asking, you know, what are you doing in some of your wrap up things? And we got some really neat ideas from the coordinators around kind of their year end projects. And they shared with us that one of them had their interns look in their own department as to how do they attract the next generation of customers and employees.

00:03:36:20 - 00:03:59:14
Unknown
And so depending on what department they were in, they were providing their perspectives on how do we go out and engage 20, 21, 22 or 23 year olds. So that was one of their their projects. Another company had them look at the entire employee cycle of life and basically say, What is our candidate experience look like? What's our onboarding experience look like?

00:03:59:16 - 00:04:21:22
Unknown
Where does our experienced employee experience look like? And so they reported back on conversations that they had with employees at a variety of different places in that in that cycle, one of the groups developed a campus recruiting strategy for the company so that when they go out next year, they've kind of got the playbook and what it's going to take to go.

00:04:21:23 - 00:04:44:23
Unknown
We we recruit people. One put together a social media plan for, you know, how do we go out and recruit. And then most of them were presenting their material to the executive staff, which really I think was a real bonus for the kids that were the interns in the program. It gave them a chance, you know, to have some exposure in front of those people.

00:04:45:00 - 00:05:02:12
Unknown
And I think exempt were from everything that we got back. We're pretty excited about the fact that while these are, you know, some of the ideas might be out there a little bit but it's a fresh set of eyes looking at what does this mean for a 20, 21, 22 year old. So really kind of a cool wrap up to the season.

00:05:02:12 - 00:05:23:10
Unknown
And I think with a lot of the the interns that we had. Yeah, absolutely. And I just have to mention because I just saw this on LinkedIn, but was Emory's interim leadership program with our intern grads, we gave them a little interim leadership badge to put on their own personal LinkedIn accounts and they can post it as an accomplishment.

00:05:23:10 - 00:05:48:13
Unknown
And that also just kind of gets the word out and creates creates our own little intern program advocates and kind of in a fun way to. Yeah. So that was that was pretty exciting. On the intern side, we've also seen, you know, we're talking about salaries and things and the companies aren't in quite the same hiring mode that they were, but they're still looking for those critical positions.

00:05:48:19 - 00:06:14:11
Unknown
But the pressure on salaries remains there. People coming in asking for more money than some of the experienced people in that same position. So that continues to be an issue, I think, for employers trying to help people understand what the market actually is. And just because, you know, your cousin made this much out in California, doing something doesn't mean you're going to make that much in Green Bay doing the same thing.

00:06:14:13 - 00:06:41:07
Unknown
So they're continuing to try to educate, I think, their employees on on market value and things like that. The people wanting the remote worker mode remains a big deal. And we just keep hearing stories. This one came from an I.T. company that was just having a hard time finding computer technology folks because they were requiring them to come in and finally just said, we'll let them work fully remote.

00:06:41:07 - 00:07:16:08
Unknown
And we're surprised at the increase in number and quality of the people that they were starting to get in. And that doesn't apply to every job. But again, people that are in the I.T. business might have already had some experience working remote, and that seems to be something that they're they're very interested in. And then lastly, seeing more of a push right now and candidates asking for more leads, whether that's family leave or paid sick time or vacation, that, yes, everybody still wants more money, but the lead time is coming into play.

00:07:16:08 - 00:07:34:21
Unknown
And I think it's one it's a work life balance thing for a lot of people as they come in. But two, you've got folks now that are taking care of elderly parents. They're trying to figure out child care issues. You know, they're kind of stuck in the middle of taking care of both the the people that raise them and the people that they're raising.

00:07:34:23 - 00:07:58:15
Unknown
And so I think that's putting a little more pressure on employers as well. You know, anything else in the thinking section just kind of goes along with the recruiting and candidate process. But I know you talked about recruiters being more involved with their hiring managers and actually shadowing the position that they're recruiting for. Can you expand on that a little bit?

00:07:58:17 - 00:08:17:22
Unknown
Yeah, You know, I think the people in h.r. Have been pushing for this for quite some time because, one, i can't do it alone. And two, you're the hiring manager, you know, a little bit more about, you know, what's happening in the position. So I think you're seeing a lot more teamwork between the two. I think the hiring managers have begun to understand what the h.r.

00:08:17:22 - 00:08:38:20
Unknown
Folks are facing in terms of trying to find good candidates. I think they're buying into the process a little bit more and i think it takes a little bit of the pressure off the human resources people to, you know, basically do everything, but it also engages the hiring manager and the process to it rather than after you've gone through the entire process and said, here's your person.

00:08:38:20 - 00:08:59:17
Unknown
They're like, this isn't what I'm looking for. You can find that out a lot earlier, that this is not the skill set or the person will know it right away versus after having them interview and come in and and do the rest of it. So I think that partnership is really sort of helping, helping us find even better people and probably find them a little bit faster as well.

00:08:59:19 - 00:09:21:10
Unknown
We also, in connection with that paid time off, there was a Georgetown University survey that came out that said the flexible work schedule is right up there, along with paid time off as the two things that young adults are asking for more than anything else. I don't know that that's really different. You know, I'm guessing when I went in for my first job, I sure I said, how much does this pay?

00:09:21:10 - 00:09:41:00
Unknown
How many days off do I get and what's the work schedule? But I think it's just there's more of an openness now to bring it up and have that have that discussion. And like I said, the salary issue, you know, there's a lot of data out there and I think people can look up, Oh, I'm an electrical engineer, how much should I get paid?

00:09:41:02 - 00:10:07:17
Unknown
And depending on what sorts you get, all kinds of things come out. Second of all, you talk to your cousin and they say, Oh, I made this much. So you take that and your generation, more than mine, shares information on social media a lot more openly than people did 30 or 40 years ago. And I think we had just as human nature, we have a tendency to find the highest number that anyone shared and said that must be the starting salary.

00:10:07:19 - 00:10:31:17
Unknown
So employees and candidates, I think, are coming in with what they think is here's my data and it all says 80,000 and then meeting up with the employer that says, Well, here's our benchmark survey and it says 60,000. And so we're having some tough conversations, I think. But, you know, it is what it is. People have some information and at least gives you a place to start from and have the conversation for sure.

00:10:31:19 - 00:11:06:21
Unknown
But we always talk about employee engagement in our talent report conversations. And this month you stated that 31% of us employees are thriving at work or are very engaged where 52% are quite quitting or not engaged in. 17% are actually wild quitting or actively disengaged. So my question is, what do you do with these three different groups? Well, all of this data came from Gallup, and they are well known for their employee engagement surveys and do literally hundreds of thousands of individuals.

00:11:06:21 - 00:11:26:07
Unknown
So it's a pretty good database that they can pull from. But yeah, those were those were the results. And, you know, you look at that and you're like, holy smokes, you know, what do I do with this? And, you know, Gallup's advice out of all this was, okay, first of all, you've got more than half of them. They're quiet, quitting, not engaged category to them.

00:11:26:07 - 00:11:46:09
Unknown
That's the low hanging fruit. You know, these are people are still showing up. They're not disruptive. They're they're working. And they're probably the group that would be the easiest to sort of push into that engaged group if we figure out what it is. Well, you know, what's missing is it camaraderie? Is it you know, you're feeling like you're independent.

00:11:46:11 - 00:12:15:02
Unknown
Is it more social activities? Like, you know what? Why don't you feel engaged? And if we can find that, we can probably push that group, maybe some of that 52 into the 31, the people that are actually, you know, engaged and thriving at work. The second suggestion comes even from those people that are engaged, you know, are they really, you know, like you've got that group of people that you can send them out on the street to sell the organization no matter who it was to?

00:12:15:04 - 00:12:37:21
Unknown
And how do you maybe get some of that group that's already engaged, but to that really engaged group? And is there a little bit something special that these are our high performers. These are people that are getting the work done. Can we give them another nudge? And yeah, they'll still be in the same category, but they'll be even bigger zealots, I guess, you know, and advocates for your for your organization.

00:12:37:23 - 00:13:09:17
Unknown
And then a little bit of, you know, okay, if you've got people that are loud quitting, which was their term, which basically is now, you know, and not engaged, I'm telling people I'm not engaged and I'm posting things that say I'm not engaged. That's a group that can do some damage. And so with that group, it may be, okay, let's bring you in and find out, can we move you into someone that you know is satisfied with their job, at least not actively out there, you know, saying bad things about stuff?

00:13:09:19 - 00:13:31:19
Unknown
Or is it someone who just is a bad fit for the organization and we have to deal with it that way. So I think, you know, if you go from top to bottom, take those really good engaged people and make them even more engaged. Take the group that's not engaged but is just kind of on the fence and try to move them to those that are thriving and for those that are, you know, actively sabotaging.

00:13:31:19 - 00:14:06:04
Unknown
And almost we either got to get them under the tent or help them find a different tent in which to play under. And so there's work for all groups, basically across groups. Everybody can move up a notch. I think actually we're kind of moving into more of our tech talk. Last month we talked about how AI is just continuing to grow every second of the day, which means that companies are figuring out how to use it and how to incorporate that in AI into their work, in their day to day responsibilities.

00:14:06:06 - 00:14:35:07
Unknown
So any new updates this month on how AI platforms are being used in in work today? Yeah, I just got done doing a seminar with folks that were utilizing it and recruiting and it's fascinating. And all of this that I'm about to tell you came from the part of Chat GPT that you actually have to pay for, which you know, I knew there was the free part that I've used and then there's the paper and I thought, Well, I'm getting what I need from the free part.

00:14:35:13 - 00:14:56:05
Unknown
But now having seen the part that you can pay for, it does even a heck of a lot more. But they just gave examples of things that were real, I guess just time savers writing a job description. You know, you can feed in. This is what it is. This is what we're talking about and get an awful lot of information back.

00:14:56:07 - 00:15:15:03
Unknown
Give me 12 really good interview questions and they can come back with a whole bite, you know, save you the time of trying to figure out, you know, what are we going to ask this type of job? There was one sample where they took a very complicated job. It was some sort of engineer, and I wouldn't have understood what they did.

00:15:15:05 - 00:15:38:23
Unknown
And the question that they actually asked of Chad GPT was explain a whatever a nuclear engineer to me. Like I'm 12 years old and you know, the h.r. Person said he just gave me a better idea of. Okay, i understand now seeing all these big words over here, but now i know what they actually do. So in terms of writing it, I've got a much better idea of what it is I should be talking about.

00:15:39:00 - 00:15:59:04
Unknown
And then even, you know, saying, what are 12 good lunch and learn topics that we can share with all of our employees, you know, and you get a list back not only of the 12, but with some bullet points underneath that say you might want to touch on this and this and this and this. So it was really it was really interesting to see the things that could generate that were really time savers.

00:15:59:06 - 00:16:19:24
Unknown
All of this comes with a caveat that says don't just take it and put it out there, take it and read it because funky things can happen because this is, you know, this is machine learning. This is a language that is looking for, you know, and pulling out our chat. GB t it basically stop taking in new data in September of 2021.

00:16:20:01 - 00:16:44:20
Unknown
So if you're looking for something that's up to date, you're not going to get the latest and the greatest, at least from that platform. But when you're asking for questions like what are good topics, what are good questions, you know, missing out on the last two years probably doesn't make a whole lot of difference. And then I think the most interesting quote I heard during the whole webinar was, you know, people are afraid that AI is going to come and take their job.

00:16:44:22 - 00:17:08:12
Unknown
And the person's response was, A.I. is not going to take your job, but someone who knows I might and they're simply saying this is another tool. This is now you know how the Excel and PowerPoint and Word are basic skills. Now, PDFs are basic skills now, and knowing something about A.I. is going to become a basic skill is basically the point that she was making.

00:17:08:14 - 00:17:40:21
Unknown
And I've also heard that it's like we all know it's it's never going to go away. So the businesses that figure out how to incorporate it and use it successfully are going to be the businesses that come out successful all through A.I.. Yeah. So Diana Small, our executive director of Emory Emory's Ohio division, Like we said, she also made an appearance on this month's report talking about implementing DEI strategies and efforts into organizations.

00:17:40:23 - 00:18:03:09
Unknown
So you talked a little bit about the why, but do you have any other key points or takeaways that Diana mentioned that you want to highlight today? Yeah, When we got done, I just said, you know, and she walked through the beginner and intermediate advanced and everything that was was going on there and people can see the recording of that if they want to go look at the talent report.

00:18:03:11 - 00:18:23:04
Unknown
But I just said to her, you know, I said, you've done enough of this just at a gut level, what what has to be in place in order for someone to be successful in putting a DEI program in place? And she said really two things. You know, one, you've got to have a culture that's ready to accepted employees that are willing to engage and want to be a part of it.

00:18:23:06 - 00:18:47:10
Unknown
And two, you've got to have leadership buy in. And, you know, that sounds so simple, but, you know, you can just see how things will move faster if you're not trying to overcome your leadership team, but you're being driven by your leadership team that makes such a difference. And then if you find people that are really engaged in this and are passionate about it, that really changes the game too.

00:18:47:12 - 00:19:10:08
Unknown
And that, you know, I shared with her, you know, our employee resource group here is called I Lead at MRA and I'm a part of that and about 40 other people are. And it's really our place to go have these deep discussions. And I said to her, I said, That makes complete sense to me, because the people that come into those meetings are passionate about, you know, how do we make sure that we're diverse and equitable?

00:19:10:08 - 00:19:36:07
Unknown
I include people and there's a sense of belonging, and people really are very open and honest, sharing their own stories. Here's what they're seeing, here's what they're hearing. And then what do we as a group of employees do to reach out and engage even more of our employees? And so I thought, as simple as you, when you say culture and leadership, it, when you think about it, if those two things aren't in play, boy, then you really got your work cut out for.

00:19:36:07 - 00:19:51:13
Unknown
So I just thought you did a really nice job of breaking it down to that point and saying, you know, look, you got to you've got to set the place up to be ready for it and you've got to have the leaders that are willing to lead on it. So it was succinct and simple and but a big deal if you don't have it.

00:19:51:15 - 00:20:18:22
Unknown
Yeah, absolutely. I would just reiterate to make sure to tune in to next week's episode. If you do want to learn more about implementing DEI strategy in your organization and how belonging should send to mix. But just as we kind of wrap up here, we've got another chart question, and I know you included the chart at the end of the Taylor Report, and it shows the working age population annual growth rate.

00:20:18:24 - 00:20:43:18
Unknown
So what does this chart shows or anything that we should necessarily be scared of when we're looking at it? I think you're doing this to me on purpose, that you're trying to have me. Okay, let's see. And how many words can you describe this chart? So I'm just going to put it on the website. You can go look at it now if you want to see what the chart is, Is it the working age population annual growth rate?

00:20:43:20 - 00:21:21:04
Unknown
So how much is it growing each year? And it goes from 1960 predicted through 2050, and it's got ten different countries, continents, areas of the united of the world on there, North America, Africa, Russia, West Europe, Japan, China. So you're getting a look at basically the whole world and what exactly is going on there. And the simplest thing I can say is the chart from 1960 to 19 8085 looks like you're climbing up the ladder to a to go down the ski slope, I guess.

00:21:21:06 - 00:21:48:06
Unknown
And when you hit about 1980, 1985, you basically go down the slope and it's for every single country that's in the group, some more severe than others. But you have countries that are dropping below, you know, the 0%. I mean, they're actually getting smaller, which includes North America, it includes Russia, it includes Western Europe. You know, so this isn't just a United States problem.

00:21:48:06 - 00:22:11:19
Unknown
It's sort of an all over the place problem. But even the countries that are staying above and are the ones that you think of the fast growing like, you know, Africa, they're starting you know, by the time you get to 2030, you're starting to see a drop off there. So it's a universal thing. And the point we're trying to make with that is this is happening everywhere, maybe for different reasons in different places.

00:22:11:21 - 00:22:31:10
Unknown
But as people are thinking, oh, well, I'll just go to where the people are, they might be having the exact same problem that we're having in the United States. And so as people are trying to figure out, if I can't do it here, how do I outsource? Where do I go? It was just sort of take a look around the world because you can see that other people are going to be facing the same problem, too.

00:22:31:12 - 00:22:52:03
Unknown
So that chart is I know it's in the tail report that's on the tail report website and maybe we can put it up on the podcast site as well. Yeah, absolutely. Well, you did a good job of describing it. Thank you. Just think of the up and down. Yeah, well, as we wrap up here, can you give us a sneak peek on what September's talent report will be?

00:22:52:05 - 00:23:13:01
Unknown
Yeah, it's going to be about compensation and compensation trends. We've got our big comp trends event in September. And just as another plug, we've got our Big D conference coming up in October. So I would encourage everybody to go to the MRA website and take a look at both of those. But we're not going to share all the comp trends data because that's coming out a couple of weeks.

00:23:13:01 - 00:23:33:07
Unknown
We won't have the final information, but we are going to have some trends of what people we may not have the specific data for 2023, but we will be talking about some of the things that people are starting to look at and as the teaser, I guess for for for next month that we're sort of at this generational tipping point.

00:23:33:13 - 00:23:57:15
Unknown
We're at the point now where the workplace is about 50% millennials and Gen Zs and 50% Gen Xers and Baby boomers. And if you think about the Xers in the Boomers, and then you think about the Millennials and the Zs, they want different things. And so when you start talking about benefits, not just because they're in different age groups, which does drive a lot of it, but they are very different lifestyles too.

00:23:57:15 - 00:24:19:01
Unknown
And so now how are companies going to figure out their total compensation practice when these this group of people might be looking for things that isn't what we're offering right now, but we still have to offer them for this group until they retire. And I think it's going to it's going to be an interesting sort of tipping point as we go from one to the other.

00:24:19:03 - 00:24:47:23
Unknown
And we'll have some thoughts on that in September. Yeah, sounds like a great topic and a great leeway into the terms about. Yeah, but Jim, thank you for all your great information today and kind of recapping what you've been saying in business with an emphasis on talent for August. So to our listeners, if you liked our chat and topic today, I'd urge you to comment something new that you learned today or any current trends or topics that you've really been seeing in the h.r.

00:24:47:23 - 00:25:09:03
Unknown
World. Don't forget to share this episode and consider joining mra. If you aren't a member already. Like always, we have all the resources you need in the show notes below, including jim's resources on the talent report plus. Thank you so much for tuning in today. And we will see you next week. And that wraps up our content for this episode.

00:25:09:04 - 00:25:27:11
Unknown
Be sure to reference the show notes where you can sign them to connect for more podcast updates. Check out other MRA episodes on your favorite podcast platform. And as always, make sure to follow MRA’s 30 minutes Thrive so you don't miss out. Thanks for tuning in and we'll see you next Wednesday to carry on the conversation.