A CMO perspective: 2019 Global Human Capital Trends report Bookmark has been added
A CMO perspective: 2019 Global Human Capital Trends report
Strategic solutions for CMOs
Deloitte’s 2019 Global Human Capital Trends report provides insights for marketing leaders as they manage talent in today’s work environment.
Notable insights for CMOs
One notable insight in Deloitte’s 2019 Human Capital Trends report is the need for organizations to go deeper than their mission statements—and reinvent themselves around a human focus. The global report analyzes the role of the organization as a social enterprise—combining revenue growth with the need to respect and manage stakeholders. Increasingly, those groups are demanding more from organizations. Changing customer expectations are often driving companies to create a distinctly human experience beyond the product or the brand. To make matters even more complex, it’s getting harder to find people to carry out the mission: Record-low unemployment and skills shortages are plaguing many industries, as employment brands do battle to secure qualified talent.
Marketing leaders, who engage with internal interests on executive teams and external groups such as prospective hires, face these challenges every day. As the Human Capital trends report suggests, a key question for marketers is how to use their expertise and experience to ensure that the talent brand relates to the corporate brand.
Human Capital Trends ReportView the report
A number of findings within this year’s Human Capital report—based on a survey of nearly 10,000 respondents in 119 countries—offer ways to help CMOs on that journey.
There’s overwhelming evidence that talent models and sources are evolving, so CMOs should be strategic partners in order to navigate those changes. Consider, for instance, how the “alternative workforce” is set to become a mainstream part of talent teams. Fifteen percent of respondents report extensively using alternative arrangements for the marketing function, while 8 percent have established processes to manage and develop the alternative workforce. Tasks are also getting carried out dramatically differently: 62 percent of respondents are using automation to eliminate transactional work and replace repetitive tasks.
Marketers can play a role by helping their organizations better understand this talent ecosystem—and engage with it to meet needs and objectives. That means not only seeking out talent and capabilities through methods such as crowdsourcing, but also taking action to build partnerships to take advantage of the diversity of talent sources that exist today. The idea is to seek partnerships that make technology work for you, not the other way around.
In almost any function, making new technology work means acquiring new skills. In this year’s survey, 86 percent of respondents say they believe they need to reinvent their ability to learn. More than half of all employees will require significant reskilling and upskilling in just three years. Furthermore, many employers believe that new graduates are lacking in areas such as complex thinking, collaboration, teamwork, and communication.
As a foundational principle within the function, marketing leaders can help close these gaps by focusing on these competencies in their recruitment efforts. When CMOs are building their teams they should also be on the lookout for people who want to keep learning and reinventing themselves. CMOs should also be data-driven, but not at the expense of culture. That can require some balancing: Making learning a team skill, and promoting your organization as one that uses data to tell stories, while driving targeted growth.
Focus on meaning
An enterprise with a human focus typically places emphasis on meaningful experiences. Marketers spend lots of time and resources on the consumer journey, but meaningful experiences can also be necessary in the workplace. In this year’s survey, 42 percent of workers say they are satisfied or very satisfied with day-to-day work practices, 38 percent are satisfied with work-related tools and technology, while 38 percent believe they have enough autonomy to make good decisions.
Some additional promising results: 53 percent of respondents feel their organizations are effective or very effective at creating meaningful work. Meanwhile, 43 percent believe their employers are effective or very effective at providing the right opportunities for growth.
The threat of uncertainty at work can make growth seem elusive. With the rise in automation, there’s a need to put meaning back into those tasks. Marketers can help by using their engagement skills to offer some assurance, to create stronger connections, create engaging experiences, and encourage them to help solve problems together. By doing so, marketers in fact are doing double duty—creating meaning while helping people developing the future-ready skillsets that foster agility, collaboration, and resilience through change.
Jobs of the future will likely be defined by the problems we solve, the relationships we engage, the tools and technology we use, and the learning we experience. Marketers can use their unique expertise to break through the constant ambiguity—and help lead organizations with a human focus.