HRO Today November 2016 - 8

Upside
NEWS FROM THE WORLD OF WORK
organization is as productive as possible. To counter
this, many have looked to workers with special skills-
and many consider them more productive than regular
employees.
Other findings from the report include:
* Nearly every company in the study (96 percent) uses
contract labor;
* Contract workers represent between 21 and 40
percent of the workforce;
* Eighty three percent of business leaders believe
contract workers are more or equally as productive
as full-timers;
* Only 25 percent of businesses plan to increase the
size of their contracted workforce over the next
three years; and
* Seventy-eight percent believe it is possible that
Fortune 2000 company will have only full-time
employees exclusively in the C-suite, with the rest as
part-time or contractor workers.
Forty-eight percent of company leaders reported that
they think contract workers are more productive than
full-time employees. Within that 48 percent, nearly
three in four believe that contractors are more skilled
as well, while half of this group said contractors' lower
costs makes them more valuable.
Seventy-six percent of business leaders surveyed
agreed that productivity is a high priority for their
business, while almost all (92 percent) agreed that
productivity needs to be closely supervised in order for
companies to be successful.
IT Workforce Planning Currently Short-term and
Unformalized, Leading to Negative Outcomes
The survey of more than 300 IT leaders found that
IT workforce planning programs lack formalization.
Seven out of 10 IT leaders say hiring IT talent is more
challenging today than five years ago due to this issue.
Fifty-three percent of organizations say that while
they have a formal workforce planning strategy in
place, it is not seen as an organizational-level strategic
priority. It's difficult to find qualified candidates as
workforce planning is conducted by those not within
the IT department. Six out of 10 surveyed report they
have suffered from negative business outcomes due to
lack of planning.
With technology constantly evolving, planning is done
quicker than ever. According to the study, workforce
planning has taken a " quarter-by-quarter " approach.
Seventy three percent of respondents say they start
workforce planning at or less than 90 days out, leading
to 62 percent of reporting negative business outcomes
as a result.
When asked what outcomes their organization has
experienced due to a lack of available, qualified IT
professionals because of workforce planning gaps,
58 percent of respondents answered they have
had bandwidth issues; 55 percent reported missed
deadlines; and 51 percent said they encountered
productivity issues.
Benefits Drive Retention of Millennials
MetLife's 2016 Millennial Report indicates that the
majority of Millennials demonstrate loyalty at work,
are committed to their jobs, and have multiple
benefits-related requirements in order to remain with
their current company.
Three-fourths (75 percent) of older Millennials age 2534
and two-thirds (64 percent) of younger Millennials
age 21-24 say that they anticipate they will remain at
the same company for at least a year from now.
The majority of IT workforce planning efforts are not
long-term; they are mainly focused quarter-to-quarter
and are dependent on quick turnaround, finds a recent
TEKsystems report.
[8]
HRO TODAY MAGAZINE
| NOVEMBER 2016
According to the survey, Millennials are also looking
for benefits customization. For example, older
Millennials desire prescription benefits, which are
more important as the population ages. Only 48
percent of younger Millennials, compared to 64
percent of older Millennials, say they require it.
Companies with Millennials compromising 25 to 50
percent of their staff are the most accommodating

HRO Today November 2016

Table of Contents for the Digital Edition of HRO Today November 2016

HRO Today November 2016 - 1
HRO Today November 2016 - 2
HRO Today November 2016 - 3
HRO Today November 2016 - 4
HRO Today November 2016 - 5
HRO Today November 2016 - 6
HRO Today November 2016 - 7
HRO Today November 2016 - 8
HRO Today November 2016 - 9
HRO Today November 2016 - 10
HRO Today November 2016 - 11
HRO Today November 2016 - 12
HRO Today November 2016 - 13
HRO Today November 2016 - 14
HRO Today November 2016 - 15
HRO Today November 2016 - 16
HRO Today November 2016 - 17
HRO Today November 2016 - 18
HRO Today November 2016 - 19
HRO Today November 2016 - 20
HRO Today November 2016 - 21
HRO Today November 2016 - 22
HRO Today November 2016 - 23
HRO Today November 2016 - 24
HRO Today November 2016 - 25
HRO Today November 2016 - 26
HRO Today November 2016 - 27
HRO Today November 2016 - 28
HRO Today November 2016 - 29
HRO Today November 2016 - 30
HRO Today November 2016 - 31
HRO Today November 2016 - 32
HRO Today November 2016 - 33
HRO Today November 2016 - 34
HRO Today November 2016 - 35
HRO Today November 2016 - 36
HRO Today November 2016 - 37
HRO Today November 2016 - 38
HRO Today November 2016 - 39
HRO Today November 2016 - 40
HRO Today November 2016 - 41
HRO Today November 2016 - 42
HRO Today November 2016 - 43
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