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Alternate Universes: Possible Roles for HR in the Decade Ahead

Steve Miranda, SPHR, GPHR Chief Human Resource and Content Integration Officer, SHRM “HR Tomorrow” Conference – Minnesota, April 15, 2011. Alternate Universes: Possible Roles for HR in the Decade Ahead. Wit or Wisdom?. “It’s tough to make predictions. Especially About the future ”.

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Alternate Universes: Possible Roles for HR in the Decade Ahead

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  1. Steve Miranda, SPHR, GPHR Chief Human Resource and Content Integration Officer, SHRM “HR Tomorrow” Conference – Minnesota, April 15, 2011 Alternate Universes:Possible Roles for HR in the Decade Ahead

  2. Wit or Wisdom? “It’s tough to make predictions. Especially About the future” “The future ain’t what it used to be.” • “You can observe a lot just by watching.” • -Yogi Berra

  3. So… Exactly What ARE HR Professionals Saying Nowadays?

  4. Top 5 Workplace Trends 2003-2011 Source: Society for Human Resource Management. (2011). SHRM Workplace Forecast.

  5. Top 5 Workplace Trends 2003-2011 Source: Society for Human Resource Management. (2011). SHRM Workplace Forecast.

  6. Top 5 Workplace Trends 2003-2011 Source: Society for Human Resource Management. (2011). SHRM Workplace Forecast.

  7. Most common overall actions HR professionals say their organizations have taken in response to trends Source: Society for Human Resource Management. (2011). SHRM Workplace Forecast.

  8. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS? Note: Table represents “very likely” responses. In fall 2008, respondents indicated changes occurring in the next 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; no data point for 2008 indicates that this particular question was not asked in fall 2008.

  9. Assuming the current financial challenges to the U.S. and global economy continue, what is the likelihood of each of the following to occur at your organization in the NEXT SIX MONTHS? Note: Table represents “very likely” responses. In fall 2008, respondents indicated changes occurring in the next 12 months. Where possible, fall 2010 data are compared with spring 2010, fall 2009, spring 2009 and fall 2008 data; no data point for 2008 indicates that this particular question was not asked in fall 2008.

  10. Top demographic and social trends Huh?! Source: Society for Human Resource Management. (2011). SHRM Workplace Forecast.

  11. Workplace Flexibility: The New “Coin of the Realm”

  12. Workplace Flexibility: The New “Coin of the Realm”

  13. “Crises” Danger Opportunity Whether we like it or not, HR is in the “risk management” business

  14. Alternative UniverseNumber One… The HR Professional as “Behavioral Economist” Definition: Behavioral Economics and Behavioral Finance are closely related fields making up a separate branch of economic and financial analysis using social, cognitive and emotional factors in understanding the economic decisions of consumers, borrowers and investors, and their effects on market prices. Whew! But what in the heck does this mean???

  15. Why Everything is Relative – Even When It Shouldn’t Be Scenario One Scenario Two Web subscription to Economist.com US $59.00 One-year subscription to Economist.com Includes online access to all articles from The Economist since 1997 Web subscription to Economist.com US $59.00 One-year subscription to Economist.com Includes online access to all articles from The Economist since 1997 Print subscription to Economist US $125.00 One-year subscription to the print edition Of The Economist Print subscription to Economist US $125.00 One-year subscription to the print edition Of The Economist Print and Web subscription US $125.00 One-year subscription to the print edition Of The Economist and online access to all Articles from The Economist since 1997

  16. Read These Books!!!

  17. Alternative UniverseNumber Two… The HR Professional as “Choice Architect” Definition: A Choice Architect is someone who has the responsibility for organizing the context in which people make decisions. Examples: Person who designs the ballot voters use to choose candidates A doctor who must describe the alternative treatments available to a patient An HR professional who designs the form new employees complete to enroll in the company health care plan

  18. “Humans” vs. “Economists” A Few Thoughts to Keep in Mind… Never under-estimate the power of inertia “One Size Fits All” vs. “Just Maximize Choices” “Intuitive / Automatic” vs. “Reflective / Rational” Thinking

  19. Read This Book!!!

  20. Alternative UniverseNumber Three… The HR Professional as “Quant” Definition: A Quant is someone who is an expert in the use of mathematics and related subjects, Often investment management and stock trading.

  21. Math: A Key Requirement for Business Respect SOME BASIC MATH A Simple Question from a Simple Forecast… Statement: There is a 50% chance of rain on Saturday or Sunday Question: What’s the probability of rain on the weekend? 21

  22. Math: A Key Requirement for Business Respect A Simple Question… Sunday Rain (0.5) No Rain (0.5) .25 .25 Rain (0.5) Saturday .25 .25 No Rain (0.5) Prob (Rain) = .25+.25+.25 = .75 = 75% 22

  23. Math: A Key Requirement for Business Respect A Second Simple Question… • You are analyzing the annual returns for mutual funds to possibly add to your company’s 401(k) plan. • One fund has returned an average of 25% annually over the past two years. • If your staff had invested in this fund, would they have made money? Year One Starting Balance $1000 Return -50% Ending Balance $500 Year Two Starting Balance $500 Return 100% Ending Balance $1000 Average Return: 25% Effective Return: 0%

  24. Math: A Key Requirement for Business Respect A Tale of Two Employment Strategies -Wayne Cascio, “The Economic Impact of Employee Behavior on Organizational Performance.” 24

  25. Read These Books!!!

  26. And While All of This is Important… At the “End of the Day” It’s All About Context How Does the Following Statement Make You Feel? a woman without her man is useless

  27. And While All of This is Important… At the “End of the Day” It’s All About Context How Does the Following Statement Make You Feel? a woman - without her - man is useless

  28. And While All of This is Important… At the “End of the Day” It’s All About Context The “Pros” Have Always Known This… “How Old Cary Grant?” “Old Cary Grant fine. How you?”

  29. Alternate Universes:Possible Roles for HR in the Decade Ahead Steve Miranda, SPHR, GPHR Chief Human Resource and Content Integration Officer, SHRM “HR Tomorrow” Conference – Minnesota, April 15, 2011

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