- CEO’s Weekly Newsletter
- 12 Dec 2022
Our customers have embarked on a journey with us to plan for their skills in 2023! We are delighted they are joining the workshop to ensure they are ready and equipped for 2023 and beyond. As we look ahead, the Human Resources challenge will be to embrace Systems Thinking as part of a larger vision for success. Through this approach, organizations can maximize their potential by viewing each element within its interconnected environment — enabling them to make effective plans that ensure long-term growth. Systems Thinking is a concept that is widely used in Industrial Engineering to promote efficiency and optimality. The concept of “Systems Thinking” originated in 1956, when Professor Jay W. Forrester created the Systems Dynamic Group at the Sloan School of Management at MIT. Systems thinking explores how all aspects of a system are interconnected, creating an ever-evolving cycle. Change in one part causes ripples that impact the whole, which results in feedback loops where action returns to its origin with modifications. With each loop made up of uniquely interconnected parts, systems thinking is anything but linear!
At the AWS Re-Invent, Dr. Werner Vogels gave an interesting keynote comparing Systems Thinking to the fascinating behavior of birds in flight. He explained that from an outsider’s perspective it appears as a perfect synchronicity but is actually achieved by each bird setting two clear objectives: adjust speed if behind or ahead of their flock and avoid predators on route. This insightful comparison demonstrates how seemingly complicated issues can be solved with simple metrics and goals – encouraging us to consider this approach for Workforce Planning!
Asking the right questions can lead to meaningful and impactful metrics. When it comes to our labor force, we must consider how best to ensure employees have more growth opportunities, migrate into a skills-based model within existing systems, maximize the potential of machines like AI and other tools bought by us, as well as manage costs throughout this journey. We recently launched a Reskill Simulator, which is only one step in unlocking potential success!
Our recent data experiment aimed to take a unique approach and observe the trajectory of certain recruitment metrics. With over 30 interviews plus big data, we’ve put together an informative dashboard allowing us to better recognize areas where optimization may be necessary. In this pursuit for “Global Optima” – as outlined in Eliyahu Goldratt’s acclaimed book “The Goal” – it is important that we utilize these findings with careful consideration. (We have written a lot about this book in the past as well).
Our study featured an in-depth exploration of a wide range of metrics, giving us invaluable insight into the subject matter.
Here are some of the metrics and trends that we gathered about the metrics (table below). The study is an ongoing journey, so please treat the results from that perspective. A classic application of the Thinking Process led us to believe that the role of Digital Marketing in hiring is critical for Global Optima. If you view the Digital Marketing spend for hiring in isolation, you may cut the expense because of an anticipated slow down, but that may exactly be the wrong thing to do. HR Investments are key to understanding the complexities of our interconnected enterprise. Uncovering the interconnectivity between different metrics can give us a more profound insight.
Here are some macro labor trends across the world
- Japan’s Fujitsu is ushering in a new era of cyber security with the launch of an R&D center in Tel Aviv that will specialize in data protection technology.
- Tesla AI-powered battery facility opens in East Yorkshire, Europe’s largest
- Amazon Web Services launches second infrastructure region in India (Hyderabad)
- There are more concentrated efforts to transform Tampa bay – Florida- USA, into a technology hub
- The University of Canberra has opened a state-of-the-art laboratory, allowing students to develop their technical skills in IT and engineering.
- Deep Learning investments are expected to pick up in Europe across a range of use cases