Webinar - How will AI shape your workforce and talent pipeline.pdf

Join AI experts as they discuss the implications of AI on today’s workforce.

1. How will AI
shape your
workforce and
talent pipeline?

2. Today's Speakers
VP of AI and Data Science
Dr. Sara Hillenmeyer
Payscale KinderCare Learning Companies
Dr. Scott Mayott
Compensation Manager

3. ●How AI is reshaping the labor market and what it means for hiring and workforce planning
●Strategies for compensating AI-related skills and understanding pay premiums
●Ways to strengthen, future-proof, and optimize your talent pipeline
●Practical approaches to reskilling and upskilling employees for an AI-driven workplace
●Any Questions?
Agenda

4. How AI is reshaping
the labor market and
what it means for
hiring and workforce
planning

5. US Hiring of early career professionals is dropping in AI-exposed
jobs post-ChatGPT
Brynjolsson E., Chandar B., Chen R. Canaries in the Coal Mine? Six Facts about the Recent Employment Effects of Artificial Intelligence as
Published in the Wall Street Journal. https://digitaleconomy.stanford.edu/publications/canaries-in-the-coal-mine/
Nov 2022 ChatGPT
Released

6. But… less AI-exposed jobs are adding young workers faster than
older workers
Less AI Exposure More AI Exposure
Young worker hiring
outpacing older
worker hiring
Younger worker hiring
dropping
Older worker hiring
minimally impacted;
Nov 2022
ChatGPT
Released

7. Will AI eliminate jobs or just
augment them?

8. Poll #1: Do you think AI
will eliminate jobs or just
augment them?
A.Augment
B.Eliminate
C.Not sure

9. •Spreadsheets and models used to be a lot of entry leveljobs, so more free time
isopening up
•Identify the skillsyou need and how they pair with AI
•What roles mightbecome redundant? How can weuplevel these roles?
•Grow roles vsmaking them obsolete- the cost of a new hire is expensive
Workforce planning structures are
becoming outdated

10. How is AI impacting hiring?

11. Strategies for
compensating AI-
related skills and
understanding pay
premiums

12. Demand for AI skills is increasing rapidly across many industries
Source: US job posting data collected and tagged as “AI” by Lightcast; NAICS 3254
Share of US job postings requiring AI skills

All industry aggregate
Pharmaceutical and Medicine Manufacturing
Manufacturing
Finance and Insurance

13. AI skills are commanding a premium across many types of jobs
Source: US job posting data collected and tagged as “AI” by Lightcast; NAICS 3254
Difference between median posted pay for job with 1+ AI skill versus no AI Skills

14. Should AI skills be compensated?
Job postings mentioning
AIskills commanded
28%
higher salaries
25%
of organizations now factor
competitive skills like AI into
their compensation strategy
Source
Source

15. Some orgs are paying for AI
skills based on increased
efficiency
Having AI skills increases an
employee'sthroughput in their day-to-day
work

16. Example: A worker saves 5 hours per week by leveraging AI tools
Data Analyst Data Analyst + AI =
1.125x efficiency
2,080 hrs work / yr
$90,000 salary
2,340 hrs worth of work / yr
Worth $101,250 salary?

17. Some orgs are paying for AI
skills based on increased
efficiency
Having AI skills increases an
employee'sthroughput in their day-to-day
work
Advice: Consider 1-time payouts like hiring
bonuses, retention bonuses, etc. The
workforce will adapt to the demand, and these
skills will become “part of the job” over time.

18. In some technical AI roles,
"superstar economics" may
drive pay decisions
The key driver – large scale revenue
impact from a single person's
contributions/skill
Advice: If it is existential to your
business, pay whatever you mustto
sign Tom Brady

19. For other roles, orgs are
paying premiums to hire
change leaders
Betting that a few key hires can help
the company adopt more AI
Advice: Incentivize learning,
experimentation, and delivery of AI
projects across current incumbents,
not just new hires.

20. Ways to strengthen,
future-proof, and
optimize your talent
pipeline

21. Talent
PipelineDiversification
•Your best talent pipeline is your current
workforce.
•Define thespecific resultsAI will
deliver(e.g., faster product launch), then
train the people needed to
achievethatoutcome.

22. Shift from Role-Based to
Skills-Based Hiring
•Move to a skills-first approach. Use
tools to map an employee's existing
skills to emerging internal roles.
•Prioritize core human skills
likeadaptability, curiosity, and critical
judgmentin new hires, as these will
always be hard for AI to replace.

23. Four Categories for
AIReskilling
•AI Fluency (basic literacy/tools)
•Domain Experts (applying AI to their
specific function)
•Builders (data scientists/engineers)
•Leaders (setting strategy, ethics, and
governance).

24. Level Employees Up
•Mentorship
•Career Pathing – anyone in the company can do anything!
oEmpower employees in their growth and development!
oEmpower managers to keep an eye on strengths and where employees might be
a good fit!
•Give space to employ learnings and figure out the necessary skills
•Provide opportunities to use and present skills and ideas early in career

25. Leadership andCulture
•Encouraging a culture of
continuous learning
andadaptability
•Training leaders to manage AI-
augmented teams

26. Practical
approaches to
reskilling and
upskilling
employees for an
AI-driven workplace

27. Learning and
Development are key
areas of investment
Walmart recently announced a partnership with OpenAI
to develop a customized AI certification program for
frontline and office-based employees.

28. Use skills to your advantage
•The labor market is tight for employees with AI skills,and wemight pay a premium for them now, but in 5 years
it might not- leaving inflated jobs
•Team dynamics matter will always matter, soft skills are important
oSocial skills
oCollaboration/Teamwork
•Identify roles most impacted by AI and proactively train employees in complementary skills
oData literacy
oCritical thinking
oAI collaboration tools
•Comp is a lever to motivate employees to learn new skills

29. Payscale Verse delivers intelligent
compensation insights at the click
of a button.
AI +
Payscale
Access intelligent insights
at your fingertips.

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31. Questions?
Feel free to ask any questions in the
Q&A section of your dashboard!
Interested in a demo of
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management solutions or data?
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