Banking’s Reputation is the number one challenge for their HR Dept.

‘Engaging their workforce as a customer could be the solution:

Reputation challenges in engagement with local communities are very real concerns for Human Resources in Banking, with recent events in the USA and India banking reputation is at an increasing low: As the ‘sub-prime crisis’ of 2007 transitioned to the ‘credit crunch’, then eventually the full-blown ‘Global Financial Crisis’ (GFC) of late-2008 (1), every aspect and detail of the financial services industry was called into question. It is clear, eight years later, that the banking sector is still recovering and managing the fallout from the GFC. Unsurprisingly, this is impacting the way that banks go to market, the strategies enacted to rebuild their brand, and the perception of these endeavors in the wider community.

  “The most effective HR Leaders in the Financial Services Industry will construct workplaces with superb leaders, who in turn create an internal culture of engagement and inclusion that produces performance and innovation, while enabling meaningful external engagement with their broader community in which they operate”

says John F Hansen, Oracle’s Vice President for Human Capital Management in JAPAC.

Sourcing the talent to reinforce and enrich your corporate brand

As is increasingly the case across all industries & sectors, people are at the heart of corporate endeavors that look to establish an explicit, transparent & easily relatable corporate brand to the community. An organizations workforce, managers and leaders are the public face, and primary mechanism, for building (and sometimes re-building) the values and brand of their employer. This means that, in the Financial Services industry, HR executives, and the broader HR function in each organization, will need to play a lead role in the re-establishment of banking institutions as responsible, non-discriminatory, trustworthy and valued contributors to our society.

“Banking is an industry which runs on trust and reputation. For customers to have confidence in this industry, banks need sound HR practices aligned with their business strategy, and staff who are both highly-skilled and display impeccable ethics and integrity”

says Balaji Kalyanasundaram, Global Client Advisor for Oracle’s Financial Services customers India

A key responsibility is therefore the attraction of talent into the financial services industry that will display these skills, ethics and integrity traits. So what channels will be most effective for showcasing your corporate brand, and identifying and attracting this talent pool?  Traditionally, the corporate website may have been a primary indicator/communicator of an organizations’ brand, but research by CEB (2) indicates only 20% of candidates base their decision to apply for a role on this source.

“Today’s high achievers routinely bypass company websites” notes Bertrand Dussert from Oracle’s HR Transformation practice, and have turned to new and more contemporary sources of brand intelligence such as “the insights of current and former employees available via professional and personal social networks” (3).

Engaging with your current workforce and or community using digital social channels is a must, so upgrading the HR skill set, to understand how to engage, utilizing digital marketing with talent is key for the future success.

 Modern HR should apply the same principles as Modern Marketers in understanding the digital body language of talent they’d like to recruit and engage accordingly”

recommended Wendy Hogan, Marketing Transformation & Strategy Director, Oracle Customer Experience APAC.

Given that Social Sourcing and Employee Referrals are regarded as the most effective sourcing method for new talent, Oracle has developed five strategies for sourcing the talent needed to bring your corporate brand to life:

  • Treat Employees like your Customer, because the talent war today is for mind-share, heart-share and loyalty.
  • Create Brand Ambassadors within your own workforce, and leverage their network connections and influence so you deliver Person 2 Person Marketing.
  • Consistently Brand and show all your stakeholders, not just customers or employees a service of integrity.
  • Identify Communities (social networks) to target for your social sourcing activities.
  • Collaborate with Marketing for help with communications, they are working on community engagement and branding consistency as well!

 Your leadership need to reflect your community for sincere engagement.

Diversity is a key driver in HR community engagement strategy; in particular this is prevalent for the recruiting of talent by advanced innovative Financial Services firms:

 ‘ Engaging with the external community you do business with is a key aspect of banking. So having a diverse workforce, with similar diversity in its leadership ranks & that reflects the community it serves, continues to be a driver in the Australian banking sector, and must form part of any workforce strategy’

says Liam Murray, Key Account Director for Financial Services in Oracle.

Ensure the right engagement messaging reflects your changing audience

The Financial services talent pool have many choices for the future, from Fin-tech to crowd companies, to even the way they are employed; indeed the Gig Economy is increasingly attractive for self motivated, highly skilled & innovative individuals who want to be involved in exciting projects; with freedom for flexibility & avoid the treadmill of the corporate ladder cited as some of the key reasons for being a freelancer; this highly selective, highly capable talent make decisions based on your companies engagement and reputation. This is a workforce that HR need to consider in these demanding times of talent short markets, where commercial agility is a must and where long term exposure to full time employees is being questioned.

 “The U.S. freelance workforce grew by 2 million since 2014 and I believe it will continue to grow.” As the millennial generation becomes a larger share of our workforce their higher tendencies towards freelancing and entrepreneurial-ism will redefine our workforce and how companies have to engage.”

Stephane Kasriel, CEO of world leading Upwork.com (freelance community site)

Before, during and after the employment of talent from the extended community, it is increasingly apparent, that the engagement practices of particularly the banking sector are critically being focused on more than fiscal reward; it is about creating a ‘joyful experience’, an engagement experience owned by HR custodians, who manage the ‘Human Risk’ for their firms.

‘Creating a joyful experience is a driver for some of our award winning innovative Financial Services Customers’, says Matt Tesseyman Key account Director Oracle Financial Services, ‘Indeed Employee engagement is considered a Key Performance Indicator of success in one of my pioneering customers’

At Oracle, we believe this continuous practice of engagement with both internal and external communities requires significant investment of HR’s time and analysis. We are partnering with our Financial Services customers across the globe to leverage Oracle HCM Cloud to support the transformation of their Human Resources strategy, and as a platform to drive engagement, collaboration, innovation for high-performance workforce’s’.

This article is co-authored by Mark Wadsley a senior director, HCM Transformation, and John F Hansen the vice president, HCM Product Management; Japan and Asia Pacific, Oracle.

 If you would like to have an advisory consultation or attend our next HR Financial Services Event in APAC please contact Mark Wadsley.

1. Gittins, Ross  “The Global Financial Crisis and Its Effect on Australia” March 19, 2009 http://www.rossgittins.com/2009/03/global-financial-crisis-and-its-effect.html

2. Harding, Emily “Introducing the 2014 Employment Branding Effectiveness Survey” November 11, 2013 CEB Global https://www.cebglobal.com/blogs/introducing-the-2014-employment-branding-effectiveness-survey/

3. Dussert, Bertrand “The Big Reveal: HR In The Age Of Transparency” March 18, 2015 https://blogs.oracle.com/oraclehcm/the-big-reveal:-hr-in-the-age-of-transparency

4. Oracle Voice “5 Ways HR Leaders Can Win Talent Through Branding” October 2, 2015 https://blogs.oracle.com/oraclehcm/5-ways-hr-leaders-can-win-talent-through-branding

5. FINTECH WEEKLY “Fintech Definition”, 2016 https://www.fintechweekly.com/fintech-definition

candidate-is-customercandidate-is-customer


What HR can learn from the people challenges in the Mining Industry

Tackling mining sector challenges with innovative HR strategies

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Throughout the world, mining companies are battling a range of forces that are reshaping the sector and require a new approach to management. Some are similar to all industries some have unique characteristics.

In an environment of change; Fluctuating demand and commodity prices, heightened stakeholder expectations, and the ongoing need to maximize productivity and profitability mean companies are faced with some difficult decisions similar to many industries.People strategies figure heavily in this landscape, as work-forces become increasingly specialized and feel the pressures of global human capital trends.

As a result, there is a heavy responsibility on HR professionals. They are tasked with developing strategies that ensure companies retain the talent they require while also recognizing the realities of shifting market conditions.

 “The most effective HR leaders in the mining Industry are those who balance the need for labor force specialization and elasticity with the constant drive toward increased productivity and innovation,”

says John F Hansen, Oracle’s Vice President for Human Capital Management in JAPAC.

It’s clear that the HR strategy for a mining company must reflect the future landscape of the industry, and an increasingly important factor is automation. During the next few years, increasingly intelligent machines will redefine the need for human intervention. This trend is seen as both a blessing and a curse. It’s a blessing for those who focus on the potential improvement it will offer when it comes to the mental and physical health status of the workforce.

  • It will allow labor to shift from dull, dangerous and dirty tasks to supervising such machines and processes from an office.
  • On the other hand it is seen as a curse for those who now contemplate an uncertain career where men and women are replaced by the machines.

 “[Mining automation] is far more than advancement of the enabling technologies or availability of automation solutions in the marketplace,” says Mehran Motamed, Chief Executive Officer of RIGID ROBOTICS. “For mining companies, it is an organisational change with people at its core.”

 Selling an uncertain career

The overall contraction of the mining industry has been reducing employment demand for some years.  Employment contracted by 7 per cent in 2014-15 (4)and this decline was observed across most functions of the sector.

“Motivating graduates to undertake geoscience degrees in an industry where long-term employment is becoming questionable may be a hard challenge for a mining HR manager to face,” says Eric Anderson, Oracle HCM Mining Solutions Perth

.
Certainly the challenge is on for talent acquisition leaders in the mining and exploration industries who may have to look to the gig economy for solutions on contracting talent,

 Tackling mental health issues

Another issue for HR professionals is staff mental health. The Australian mining industry provides employment for more than 170,000 people1 and, while the industry presents attractive financial incentives, the work is most often carried out in remote locations, and is both time-intensive and physically challenging.  This environment has led to a particularly high prevalence of mental health issues.

 “More than one in five Australian mining industry workers has experienced mental health conditions such as depression or anxiety in the past 12 months,” says beyondblue Chairman Jeff Kennett. “But sadly, too many workplaces still do not realise the importance of their employees’ mental health.”2

According to research undertaken by PWC in conjunction with beyondblue, these mental health conditions may manifest themselves as absenteeism, reduced productivity and compensation claims.3

 A strategy

Of the various strategies that can be adopted to address both these issues, there are a range of actions that can be supported by the latest generation of HRM technology.   Examples include the introduction of worksite physical activity programs, and coaching and mentoring programs used to create a deeper connection between workers. This, in turn, can help to address the effects of isolation, stress, long hours and the general impacts of a Fly-in Fly-out (FiFo) work structure.

To support this process, Oracle has introduced a new class of HR solutions. Called Work/Life Applications, they provide tools to manage physical and mental wellbeing, as well as the social connections and activities of the workforce.

 “These solutions can be used to help employees manage the intersection of their work and personal lives,” says Oracle’s John F Hansen.

The good news is that investments in workplace mental health programs will not only produce a more engaged, productive workforce (the foundations of innovation), but the return on investment for these programs in the mining industry is the highest across all industries. Research suggests an average return of $5.70 for every $1 invested 3.

 

Endsmining-wiht-hands

 

 

  1. Australian Bureau of Statistics, 8415.0 – Mining Operations, Australia, 2014-15, http://www.abs.gov.au/ausstats/abs@.nsf/mf/8415.0
  2. Heads up, “The challenge of mental health in the mining industry”, 13 October 2014, https://www.headsup.org.au/news/2014/10/13/the-challenge-of-mental-health-in-the-mining-industry
  3. PricewaterhouseCoopers, “Creating a mentally healthy workplace: Return on investment analysis”, 2014 https://www.headsup.org.au/docs/default-source/resources/beyondblue_workplaceroi_finalreport_may-2014.pdf?sfvrsn=6

4.Australian Bureau of statisticshttp://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/8155.0

Hiring Talent By Design Part 1

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5 thoughts on why we fail to hire the right people by design.

Job Description

Most job adverts, by unintentional design, read like job descriptions, which is not a surprise as these are the usual cut and paste master documents, which Is a tragedy, because maybe the hiring manager meant I am interested in people from other industries, maybe they meant I value passion and learning over direct experience , but the predictable advert just said 10 years experience in Financial services.

 Policy

 The HR policy by design said ” include a minimum of one lady in the interview shortlist”, but never looked at the metrics analysis to see why the intended hiring outcomes failed.. See… Harvard’s great Business review:

https://hbr.org/video/4984622531001/why-so-few-diversity-candidates-are-hired

Search Algorithms

 Recruiters searches by design are typically based, on yes you guessed it, the job description; So you receive a list of people who live within one hour, of your office from your competitor, who probably attend the same conferences as you and not surprisingly  have the same thinking.

 Diversity Hiring

 Ask HR what this means and the majority of the time they will talk about the Gender issue, which is important, however,seldom do you hear them discuss diversity of culture, diversity of thinking, diversity of geographies, so maybe a tick in the gender box for policy adherence is the outcome, but you don’t often see transferable skills, cross border geography hiring and different thinking to the ” corporate culture”.

Correspondence Bias

 Typically by design large amount of resource and time is spent on HR professionals, in particular recruiters, to ensure they understand how to interview without personal bias and in a consistent fashion to deliver consistent (same) results,  in contrast seldom do you ever see this extended into the hiring manager community, and or a change of thinking in the Questions at interview for more interesting hiring results.

Summary

 So maybe consider this: have some curiosity about the outcomes of your, adverts for great talent, policy compliance, interviewing capability, in the metrics of your  attrition rate and how this correlates to the lack of revenue growth, then consider are these the  “metric outcomes” your company achieved by design.

 

 

 

10 HR Marketing Tips to attract talent

Digital Marketing

1, Job Descriptions Fail!

Do not post a job description; at best it is a dull document that won’t attract the right people, at worst it shows how little your company cares about people engagement. Instead write an Opportunity Advert:

For example:

Management accounting role for competent user of Oracle financials, who can bring creative questioning for a discovery culture:

Smashes:

  • Ten years of experience in management accounting
  • Five years of Oracle Financials
  • Strong communication and presentation skills

2, Remove Your Bias

Be aware of your bias, just because you love a particular aspect of your company, role or environment does not mean that this will appeal to the prospect, write in more broad brush terms and be aware of your bias.

For example:

Flexible rewards in a hi-tech work environment

Smashes:

  • High Salary and Commission
  • Free Catering
  • Modern open plan workspace

3,  Authentic Messaging

Realistically portray your company’s culture, the functions culture perhaps most importantly the hiring managers & teams persona. So consider sharing the managers and a team members personal view, in video form (creating intimacy), about their work environment and why they like it, then add something personal (get to know them) like ‘What makes them laugh’ balanced with ‘What makes them irritated’ these can be light hearted examples as they offer insight in to the People style which the prospect can relate to more.

For example:

If the reality is your culture presents a high pressured environment with a disciplined boss who is demanding and abrupt because time is money, where attrition is 30% and you sink or swim. If that were the work environment you could share a video from a team member as a link to the Opportunity Advert:

this environment challenges my capabilities so I am learning about my full potential, it’s not for the faint of heart but if you want to know how good you can be then this is the right place to be stretched.. I smile when my cat greets me, I frown when I forget to buy milk for my cereal.

3, Social Media Immersion

Utilize the full capability Social engagement; sharing and learning.

For example

  • Sharing: As mentioned in 3,create YouTube Clips of the hiring manager, environment and team.
    • You will find, typically, the quantity of applicants is less than normal however the quality of applicants improve!!
  • Learning: Have a yes no poll at the end of a video that leads to a survey,
    • Will you apply for the role, if not please choose from this (drop down) response;  I didn’t like the manager, the team, the office location, the benefits. This will mean your company can learn how to change the outcomes.

5, Conversational Engagement

Asking the person what interests them and sharing how your company may fit their expectations is a better strategy than sending a job description or reading  a scripted list of enticements. BECAUSE, people have choice and you need to understand what they want so create an engagement like:

Let me get you a coffee, how do you like it; please pull up a chair and tell me what interests you and lets see if we have something that suits.

 

6, Marketing Data Learning

Capturing Data on the response rates (see Four) and all interactions will help you develop a better strategy of engagement by enabling continuous learning, HR typically fail to do this!

For the last 4 tips send me a message on LinkedIn.

 

 

 

 

10 HR Marketing tips to Hire Talent

Me Marketing

Candidate engagement has changed, your candidate is more informed, more referenced than ever before; consumers understand how marketing works, they are brand savvy, so in the surplus economy of jobs how we sell person to person is key as a differentiator.

A brand is a personality, it is about trust & relationship, this is why your ‘people brand’ is key, because people buy from people. Corporate canned job adverts are failing, in particular if they read like job descriptions.

People branding is the new currency of company marketing because of the force multiplier of Social Media. Brand building through communities will: drive  loyalty, enable you to maintain dialogue and increase opportunities with talent.

The art of marketing is the art of brand building, if you are not a brand you are a commodity then price is everything and the low cost producer is the only winner. Philip Kotler

We are all brand executives  solving a marketing problem of differentiating our organizations away from being a commodity workshop environment, into something more; building a progressive social media solution  as a hiring executive, in a world where Executive Brand Management (EBM), is as important as a company’s branding, is critical to attract and engage with talent.

As a critical face for your company, so it is essential that you grow your personal brand; doing so will mean you become able to attract talent, furthermore you will become considered as an industry expert in the eyes of your talent and professional community. Growing your brand is easier said than done. It takes time to achieve a valuable following. Today, digital online is the way to build and sustain your community relationships.

“Be yourself everyone else is taken” Oscar Wilde

Sharing and selling “you” expertise as part of your personal brand will improve how you attract talent.

10  simple execution points to manage your personal brand:

1. Have a Blog as a repository for your articles and curated news

2. Curate articles are of interest that extend beyond your point of view

3. Create Webinar Engagement to build dialogue

4. Use metrics to manage your brand and a cadence of regular broadcasts

5. Understand how to use event handlers and technology to automate your marketing.

6. -10 Connect and send me a request for me to share these tips.

 

Organisational Design for 2016 is the solution for 2020 business

Freelance & Intrapreneurs mThe company pyramid is collapsing, middle management is going, and the freelance labor force is growing, are you ready?

Because:

Unpredictable volatile markets are continuous:

‘China slows growth, India is the growth market, the UK possibly leaves the EU’

Talent demands are now demanded:

‘A, Work life balance is key, B, CSR matters,  C, invest in my skills  D, I want to be heard

Answer…All of the above 

The Technology enabled workforce is virtually anywhere:

Virtual Reality courtesy of Oculus Rift, Samsung etc. will mean Social workspace collaboration as you know it will change, you will live inside your communicating world from anywhere.

Agile, Scalable, Creative are the KPis for organizational design  because a fixed cost structure does not enable you to mobilize your investments and shape your organization  according market demand, a market that is now very demanding.

So not surprising that the pyramid structure is struggling to cope with this volatile change indeed maybe that is why 45% of companies are considering how to change their organizational design.

Huckleberry partners… http://huckleberrypartners.com/Huckleberry Partners Image.pngare a great example of how freelance communities are some of the solution to new organizational design.

Lizzie (https://uk.linkedin.com/in/lizziepenny) says

                            “ Our Associates can work whenever and wherever they choose and are judged on the quality of their work rather than sitting in a fixed office five days a week 9-5.

                          We put teams together based on their complementary talents, and being a perfect fit for the client, rather than because of their location.”

                            “we are increasingly tasked with organizational engagement by our clients and seen as a solution to risk mitigate their talent needs”

                                So maybe the future shape of companies is entrepreneurial pods, funded by crowd sourced events, that incorporate and dissolve within 2 years; However,   I am sure the new shape  is many shapes  because over processed  management is going and the agile freelance community is already, well a reality!!!

                                    

‘Virtual Media replaces social media’ 2016

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are you  ready to peekin, vizms, facevid, snapin, and snacon.

Global collaboration just got a whole lot more, well real again! maybe 🙂

No more online we will be inline:

Sony:

Be with your friends in person in VR reality.

https://www.playstation.com/en-au/explore/ps4/features/playstation-vr/

360 degree cameras:

Be in your moments again and again…

http://gizmodo.com/heres-what-you-can-expect-to-get-from-360-cameras-for-1755798348

Samsung:

http://www.theverge.com/2016/2/22/11087890/mark-zuckerberg-mwc-picture-future-samsung

Whatever way we Inline, 2016 is the year we changed the way we collaborate, globally in my view ( i bought a samsung).