AGENDA • Do you know who We Are? • Presentation Guidelines • Qualifying Teams • Key Deadlines • What does the Theme Mean? • Panel of Judges • How to Get Started? • Prizes • Case Study • Contact Persons • Judging Criteria • Q&A
ABOUT SHRI Singapore Human Resources Institute. The Catalyst for Change. It strives to be vital catalyst to the growth and development of the HR industry and businesses and to: • Catapult HR to New Heights • Leverage on HR to drive Business Excellence • Accelerate Professional Development SHRI Academy Pte Ltd a wholly-owned subsidiary of SHRI, is a training institution that caters to the learning and developmental needs of adult trainees and learners, students, both local and international. SHRI Corporation Pte Ltd (SHRI Corp) is the enterprise arm of the Singapore Human Resources Institute (SHRI) focusing on enabling knowledge acquisition and skills development at both corporate and individual levels.
ABOUT SHRI • Established since 1965 as a not-for-profit professional HR organisation • Represents some 3,500 human resource professionals • 1,200 students (working adults) graduate from SHRI Academy each year • More than 4000 working adults attend our programmes each year • Promotes & maintains high standards of professionalism in human resource management & development
OUR VISION “To be the leading HR authority in Singapore to champion human capital excellence” OUR MISSION “We commit to advocate HR best practices, connect a community of HR professionals and enhance the HR profession.”
SHRI TRADEMARKS/RECOGNITION EVENTS Organiser of The Singapore HR Awards in leading HR practices (Since 1996, re-launched in 2005) Secretariat for Singapore HR Accreditation Framework (Ongoing since 2005) SHRI Flagship Publication: Human Capital SHRI Flagship Journal: Research and Practice in HRM
SHRI TRADEMARKS/RECOGNITION EVENTS Organiser of 11th World HR Congress in 2006 Organiser of Singapore HR Congress and Business- Connect Exposition (Annually, since 2007) Organiser of Singapore HR Challenge (Annually, since 2008)
CONGRATULATIONS! You have qualified for the 1st round of the Challenge! CATEGORIES: • ITE CATEGORY • POLYTECHNIC CATEGORY
THEME OF SINGAPORE HR CHALLENGE 2017 Preparing for the Millennial Workforce: Are Organisations Ready?
Preparing for the Millennial Workforce: Are Organisations Ready? This year’s Singapore HR Challenge explores the theme, “Preparing for the Millennial Workforce: Are Organisations Ready?” in an aim to allow participants to study, analyse and propose how organisations can adapt and refine their corporate culture to appeal to the Millennial Workforce for continued success.
Preparing for the Millennial Workforce: Are Organisations Ready? The millennial generation, born between 1980 and 2000 will make up over a third of the global workforce by 2020. In Singapore, they make up the largest generation of our workforce. Today, there are an estimated 1.2 million millennials, making up 22 percent of the resident population. Although Millennials will soon outnumber their Generation X (people born between the mid 1960’s and the early 1980’s) predecessors, they remain in short supply. It is clear that millennials will be a valuable generation of workers and that those with the right skills will be in high demand.
Preparing for the Millennial Workforce: Are Organisations Ready? Attracting, engaging and retaining the best of these millennial workers are critical to the success of any business. Their career aspirations, attitudes about work, and knowledge of new technologies will shape and define the culture of the future workplace. However, they may also represent one of the biggest challenges that many organisations will face. In fact, CEOs have reported that attracting and keeping younger workers is one of their biggest talent challenges.
Preparing for the Millennial Workforce: Are Organisations Ready? Managers are still uncertain about what Millennials can bring to the table, or whether they can even manage them successfully at all. It’s important to inform and educate employers on how to maximize the Millennial workforce — and how they can leverage them in a way that not only yields results, but catapults an organization into bigger and brighter things in the years to come.
Preparing for the Millennial Workforce: Are Organisations Ready? The theme of this year’s HR Challenge takes reference to Gallup’s Big Six functional changes which organisations and leadership must address when it comes to Managing Millennials, the largest single demographic group in today’s workforce: • Millennials don’t just work for a paycheck — they want a purpose. • Millennials are not pursuing job satisfaction — they are pursuing development. • Millennials don’t want bosses — they want coaches. • Millennials don’t want annual reviews — they want ongoing conversations. • Millennials don’t want to fix their weaknesses — they want to develop their strengths. It’s not just my job — it’s my life.
Preparing for the Millennial Workforce: Are Organisations Ready? In addition to the Big Six functional changes, there are also 3 Millennial Talent Management issues worth exploring: Issue #1: Too often, a disengaged generation • Often, Millennials are characterized as entitled job-hoppers, but the reality is that 55 percent of this group is not engaged at work. • Many Millennials likely don’t want to switch jobs, but their companies are not giving them compelling reasons to stay. When they see what appears to be a better opportunity, they have every incentive to take it. • While Millennials can come across as wanting more and more, the reality is that they just want a job that feels worthwhile — and they will keep looking until they find it.
Preparing for the Millennial Workforce: Are Organisations Ready? Issue #2: Millennial turnover costs a whopping $30.5 billion annually • Gallup's data reveals that, "21 percent of Millennials report changing jobs within the last year, which is more than three times the number of non- Millennials who report the same”. • Gallup estimates that Millennial turnover costs the U.S. economy $30.5 billion annually. Millennials also show less willingness to stay in their current jobs. Half of Millennials — compared with 60 percent of non-Millennials - strongly agree that they plan to be working at their company one year from now. For businesses, this suggests that half of their Millennial workforce doesn’t see a future with them.
Preparing for the Millennial Workforce: Are Organisations Ready? Issue #3: Frequent and consistent feedback is essential • When it comes to managing Millennials, feedback is essential. • Gallup is very clear about this: "Millennial workers are more engaged when their managers provide frequent and consistent communication and feedback”. • Some 44 percent of Millennials who report that their manager holds regular meetings with them are engaged, while only 20 percent of Millennials who do not meet regularly with their manager are engaged. This is similar to older generations; 43% of non-Millennials who report their manager has regular meetings with them are engaged.
Preparing for the Millennial Workforce: Are Organisations Ready? With reference to Gallup’s Big Six Functional Changes and its 3 Millennial Talent Management Issues, participants are required to conduct interviews with suitable representatives from 1 organisation from an industry sector to understand their existing policies, programmes and practices in the following areas: 1. How is an organisation able to update some of its policies to promote greater work-life flexibility, and offer employees more options when it comes to getting the job done? 2. How is an organisation able to accelerate the integration of technology into the workplace to enable workers to embrace technology in ways that give them more flexibility and increase efficiency?
Preparing for the Millennial Workforce: Are Organisations Ready? With reference to Gallup’s Big Six Functional Changes and its 3 Millennial Talent Management Issues, participants are required to conduct interviews with suitable representatives from 1 organisation from an industry sector to understand their existing policies, programmes and practices in the following areas: 3. How is an organisation able to encourage more real-time appreciation, feedback and development across the firm, and focusing on having more face-to-face coaching conversations rather than filling out performance feedback forms? 4. How can an organisation reinvigorate its efforts to create a strong, cohesive, team-oriented culture at work?
Preparing for the Millennial Workforce: Are Organisations Ready? With reference to Gallup’s Big Six Functional Changes and its 3 Millennial Talent Management Issues, participants are required to conduct interviews with suitable representatives from 1 organisation from an industry sector to understand their existing policies, programmes and practices in the following areas: 5. Millennials tend to look for an employer whose corporate responsibility values match their own. What programmes can an organisation implement to increase its corporate social responsibility activity? 6. How can an organisation provide opportunities to the development of a Millennial individual working abroad, and help create future leaders with a more global mindset?
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