At this point in time, based on the research we’ve done, I believe we work in an environment where technology is ahead of our ability to adapt. As we talked about in last year’s trends, economic productivity has not kept up with economic growth, and this is a funny paradox when you consider how many successful technology providers there are. As a professional in my early 60s, who grew up in companies that had no voicemail, no email, and no electronic communications at all, I am particularly sensitive to this trend. Today, whether we like it or not, we are all “over-instrumented” and “overloaded” by messages, communication tools, and more intelligent systems telling us what to do. The leading practices for well-being at work are all being invented now, as our organizations become more “real-time” and demanding by the day. I think you should read this trend as a wakeup call and think hard about whether you are putting the right level of focus and energy into this topic.
Which means that in order with regard to the economy to develop, we are heading to need even more people – therefore the economic motivation for people to operate longer is right here. With this trend all of us highlight how rapidly companies have awakened to this pattern and how nicely they understand the particular topic. What they do not really yet know will be how to upgrade jobs, how in order to redesign work, plus how to build the new skills that are needed.
And in the realm of HR, AI and cognitive tools are radically changing the landscape. This topic, which was rated important by 77% of companies around the world, is the one where companies feel the most behind (51% feel unready to deal with this issue). One of the larger payroll providers told me in the last few months that they see a trend toward “instant pay” – people getting paid every day for the work they did that day. Bersin recently started providing services for “conjoint analysis” of various pay and benefits programs, and found that different segments of employees have vastly different desires for how they want to be rewarded. Our latest L&D research found that employees have only 24 minutes a week to “learn” on the job, so a new breed of micro-learning tools are emerging to help us time-slice our development.
For me personally this work is always among the most exciting things I do at Deloitte, and this year’s report speaks to the need to find mission, trust, and value in our lives. We are living in a world of tremendous economic growth, technology revolution, yet also one of income inequality, contentious debate about nationalism, and lots of concerns about diversity, inclusion, fairness, and equity at work. I think our research shows that all these topics are now coming together, and business leaders must address them in an integrated and strategic way. Interestingly, the biggest challenge we found in this research is that C-suite executives are not operating or organized effectively to deal with this new world. If you think about the trends we highlight in the study, each cannot be addressed without an enterprise-wide, cross-functional approach. So the idea of having a C-Suite executive who owns various functional areas alone simply does not work.
I think this topic also crosses the boundary into citizenship and responsibility – if you are not building an organization that helps people stay healthy and happy you are not fulfilling your responsibility as an employer, and that impacts your customer brand. I’ve done many presentations on the Future of Work in the last 18 months, and in every case I find people astounded about the way new jobs are being created at a faster rate than we have seen in decades. Today the jobs of “machine learning engineer” (which didn’t exist three years ago), “social media curator, ” or “robotic system trainer” are growing at astounding rates, while all our traditional roles in sales, marketing, finance, and HR are changing as well. As I discussed above, the most urgent trend we identified was the need for C-Suite executives to operate in a more integrated way (we call that “Symphonic”). Today it’s as if each C-suite exec (CEO, COO, CFO, CMO, CHRO, CTO, etc. ) is leading their own set of instruments, playing the music they think will contribute best to the overall orchestral performance. Of course in the symphony this would be a disaster, and the analogy plays out well in business as well.
First is the horizontal axis – moving from an organization which operates as a functional hierarchy to one that operates as a “network of teams. ” I’ve written about this extensively before and this trend has accelerated. This year I’ve met with banks, manufacturers, insurance companies, and healthcare providers who are all moving toward a “networked organization” model.
This is particularly important so that the underperformance of one particular project doesn’t reflect negatively on the overarching efforts of IT. It also builds tolerance for the necessary risks that must be undertaken to achieve real digital transformation. “When determining how well digital transformation investments are performing, it’s best to take a portfolio view and not a project level view, ” says Cecilia Edwards, partner with digital transformation consultancy and research firmEverest Group. Just as a mutual fund manager or venture capital firm would look at overall performance to determine how well things are going, digital transformation leaders must take a holistic view of digital change efforts. A project such as revamping a mobile application may have a short-term payoff but other projects are chasing longer-term business value.
The particular last trend, yet by no indicates an unimportant 1, may be the recognition that will the “workforce” associated with today is not really some full-time, salaried people. We reside in a global exactly where contingent, gig, plus crowd-based workers create up a substantial percentage of the particular workforce that “alternative work arrangements” are usually now the quickest growing segment. Once we discuss in the particular report, there are usually some innovative applications and ideas available, but generally talking most corporate skill models do not really understand or include this “seasoned workforce” well. I will not try to resolve the issue in this particular article, but allow me to simply leave a person using the thought that will this will turn out to be an increasingly immediate problem and the particular sooner you consider this the better.