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Industry Solution – Regional Implementation S. Gary Snodgrass, EVP, Exelon Corporation Chief Human Resources Officer.

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Presentation on theme: "Industry Solution – Regional Implementation S. Gary Snodgrass, EVP, Exelon Corporation Chief Human Resources Officer."— Presentation transcript:

1 Industry Solution – Regional Implementation S. Gary Snodgrass, EVP, Exelon Corporation Chief Human Resources Officer

2 “Future Forward” How do great companies attract, develop and retain key talent needed to transition to the future?

3 Employee’s Market Population Aged 65 and Over as % of total population Projected Growth in U.S. Workforce by age group, 2002-2012 External labor market data forecasts Jobs vs. employees Fewer jobs than people Employer’s Market transitio n More jobs than people Market-wide aging workforce challenges What are the critical workforce challenges facing the energy industry?

4 Trends to count on:  Aging  More women  More ethnic diversity  Increasing life-style/life-stage variety  Tightening labor markets  Shortage of skills and experience  Shortage of workers  Shortages of educated candidates  Pressure on training and development  Tension around HR policies and practices  Strain on organizational coherence SOURCE: Workforce Crisis, Dychtwald, Erickson and Morison; HBR Press, 2006 What are the critical workforce challenges facing the energy industry?

5 Utilities will continue to have to do more with less.  Increased regulatory scrutiny  Rate recovery pressure  More competition for available workforce Utilities and like industries are perceived as an archaic, dirty business, lacking the allure of a computer or biotechnology career.

6 What are the critical workforce challenges facing the energy industry? “The industry needs to change more than its image. It needs to change its reality.”

7 How do great companies attract and retain the next generation of talent? Create a bigger pool of available talent through education support Increase the pool of non-traditional applicants Increase channels for reaching candidates Manage their employer brand to raise industry appeal and capture new, quality talent Offer flexibility to keep older workers active and deferring retirement Create the environment and development opportunities that retain the Gen-X’s and intrigue the Gen-Y’s Re-hire retirees as consultants, trainers and mentors

8 What young workers expect from work:  Individual responsibility, freedom to make decisions  Sociable and enjoyable colleagues and workplace  Opportunities to learn and grow  Opportunities to contribute right away  Team-based work, collaborative decision making  Lots of feedback, frequent and constructive reviews  Accessible managers  Respect from older coworkers  Pay for performance  Flexible schedules and ample time off How do great companies attract and retain the next generation of talent? SOURCE: Workforce Crisis, Dychtwald, Erickson and Morison; HBR Press, 2006

9 Meet our commitments to customers, shareholders and the communities we serve Demonstrate a relentless commitment to acquiring and retaining key, diverse talent Successfully re-define the “new deal” Act as agents of change Instill pride in the work, the team and the organization The call to action for winning the emerging war for talent

10 Winning the emerging war for talent – pride builders Clarify what really matters – the “working visions” used by leaders that touch the hearts and minds of employees Develop and repeat your most compelling stories Tap into family, community and union events Build on successes – everyone wants to be on a winning team Recognize the value of contributions and relate the work to organizational values Reward development, growth and initiative Source: Why Pride Matters More Than Money, Jon Katzenbach

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