Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services Michael Stephan Principal, Global

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1 Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services Michael Stephan Principal, Global & US HR Transformation Leader, Deloitte

2 Unprecedented change and opportunity Technology is everywhere 6.0 billion+ smartphones in the world by Tsunami of data 9x more in last 2 years 2 Major enabler of machine learning 7 Disruptors AI, Cognitive Computing, Robotics $500,000 in 2008 $22,000 today 5 Jobs vulnerable to automation 35% UK 47% US 77% China 6 Diversity and generational change Millennials 50% 3 25% global pop in Africa by Longevity Dividend 50 year careers Annual Global Millennial Study, Change in nature of a career years: Half-life of skills 4.5 years: Average tenure in a job 8 Explosion in contingent work US Contingent workers 40% by Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 1 7 Intuit 2020 Report: Twenty Trends that will Shape the next Decade 8

3 Rate of change What appears to be happening Mobile, sensors, AI, cognitive computing, data. Access to technology by consumers globally. Technology infiltrates home and political life. Technology change Gap in business performance potential Business productivity Time Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 2

4 What is really happening? Technology Individuals Businesses Public policy 1970s 1980s 1990s 2000s 2010s Today Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 3

5 Reimagining all dimensions of work Work The type of work people will do in the future Workforce The portfolio of workforces, people and machines, full time and contingent workers and crowds Workplace The structure and practices to enable people to create value in the future Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 4

6 The convergence of technology and talent models has opened new opportunities for workforce planning and the composition of work 2 Talent Category 2 Workforce Who can do the work? Technological advancements enabling new models for interaction between companies, employees, and customers 1 Work What work can be automated? 3 Workplace Where is the work done? Increasing automation over the next years Automation Level 1 Physical Proximity 3 Rethinking combinations of talent, technology and workplace 1 Current work options Future work options Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 5

7 Yesterday TOMORROW The organization of the future requires a foundational shift in capability & mindset The table below highlights the key shifts that are occurring in the marketplace now The Future of Work Incremental technology changes Stakeholder involvement Customer satisfaction Seeking new markets Digital transformation Reputation management Customer engagement Dynamic globalization The Future of the Workforce Stable, long term jobs Process-centric Metrics and reporting Systems of record Open talent Employee-centric Workforce insights Systems of engagement The Future of the Workplace Command and control leadership Institutional inertia Traditional office Health and wellness Network of teams Nimble and innovative culture Distributed work spaces Employee well-being Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 6

8 WORK: Robotic & Cognitive Automation enable the future of work Self Service Human Assisted YESTERDAY S MODEL: Tiered Service Delivery Model TIER 0 Self Service Portals Call if unresolved TIER 1 Shared Services Client Interaction Center Escalate if unresolved TIER 2 Shared Services Functional Specialists Escalate if unresolved TIER 3 COE and Business Partners Opportunities to further leverage technology exist TOMORROW S MODEL: Robotic and Cognitive Assisted Self-Service Cognitive assisted services provide a personal and natural customer experience, educating customers, and enabling confident & informed decisions TIER 0 Self Service Portals Cognitive Agent asks and understands how to help clients Self Service with Cognitive Assisted Service Cognitive Agent is trained on policies and procedures to advise all clients on all subjects Cognitive Agent and RPA automatically execute business processes on behalf of clients Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 7 TIER 1 Cognitive- Enabled Inquiry Support TIER 2 RPA Enabled Support Escalate if unresolved... with escalation and warm handoff to humans, as needed Human TIER 3 COE and Business Partners Assisted by Cognitive Insights and AI

9 The workforce of tomorrow will likely be augmented by technology and talent models The talent landscape is evolving. It is a collaborative, transparent, technology-enabled, rapid-cycle way of doing business in which access to talent is more important than ownership of talent WORKFORCE OF YESTERDAY Highly Regimented and Hierarchical WORKFORCE OF TOMORROW New Talent Options and Team Configurations Employees Robots & Cognitive Automation OPEN TALENT Joint Ventures Contractors Freelancers Crowd Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 8

10 WORKPLACE: Robotic & Cognitive Automation change the need for physical workspace Today, most employees work onsite at locations that require considerable office investment. With Robotic & Cognitive Automation, work location becomes more virtual, enabling greater flexibility and collaboration TODAY Constrained Workforce TOMORROW Agile Workforce *Robotic & Cognitive Automation also allows organizations to extend their services to employees in smaller countries through virtual agents rather than requiring the set up of local service sites. Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 9

11 Robotics and cognitive automation are redefining service delivery Organizations are beginning to leverage robotic and cognitive technologies. These technologies can help fundamentally change how functions operate in the future Automate Operational Tasks Engage with Customers Deliver Meaningful Insights Automate manual, rules-based activities through Robotic Process Automation (RPA) Interact with customers to manage transactions, resolve inquiries, and triage requests to human HR professionals Mine and analyze data to uncover new relationships and insights For example, It is expected that the percent of HR departments leveraging RPA capabilities will triple in the next 24 months (HfS, The HR Power Tools 6-Pack for High-Impact Service Delivery, June 2017) Chat bots and now, more advanced cognitive agents, are supporting customer inquiries and basic transactions. Huge potential to redefine service delivery Organizations are hiring data scientists to uncover hidden patterns to identify new opportunities for innovation Overall, 87% of companies believe that AI and Cognitive technology will play a significant role in improving their products and services. Looking ahead, 89% see it playing a larger role in shaping company strategy. (Deloitte State of Cognitive Survey, August 2017) Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 10

12 This doesn t mean jobs are going away, in fact in an automated world demand for human skills will grow 30% of high-paying new jobs will likely be social and essentially human in nature Over the past four decades 60% Increase in highly cognitive, non-routine work What are human skills? Listening Oral expression Interpreting feelings Coordination Managing time Social perceptiveness 12% Decrease in repetitive work We should embrace robots, not fear them. - Andrew McAfee, MIT Initiative on the Digital Economy Sources: Deloitte Insights, Forces of Change: The Future of Work (2017); Financial Times Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 11

13 As human skills become more important, certain will be more enduring and essential COMMUNICATION COLLABORATION SELF DEVELOPMENT Listen, respond and express ideas effectively in different contexts, influencing others Service Orientation Cultural Fluency Emotional Judgement Effectively work with others, team with others, and lead others Teamwork Leading Teams Continuously evolve and upskill oneself Intellectual Curiosity Self-Management STRATEGIC PROBLEM SOLVING ANALYTICAL Exercise judgement and leadership to decide the way forward in complex environments Decision-Making Professional Ethics End to End / Big Picture Thinking Find creative solutions to difficult or complex issues Design Thinking Agile Thinking Innovative Thinking / Creativity Acquire new knowledge, process information and draw accurate conclusions Critical Thinking Data Fluency Digital Fluency Technical Fluency Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 12

14 Thus to attract the best talent, organizations will need to double down on creating an irresistible employee experience A NEW APPROACH FOR TODAY S WORKPLACE Bersin by Deloitte s Simply Irresistible Organization TM Model Meaningful Work Supportive Management Positive Work Environment Growth Opportunity Trust in Leadership Autonomy Clear and transparent goals Flexible work environment Training and support on the job Mission and purpose Select-to-fit Coaching Humanistic workplace Facilitated talent mobility Continuous investment in people Small, empowered teams Investment in development of managers Culture of recognition Self-directed, dynamic learning Transparency and honesty Unstructured time Agile performance management Fair, inclusive, diverse work environment High-impact learning culture Inspiration Cross-organization collaboration and communication Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 13

15 The Simply Irresistible Organization Model Explained The model examines the differentiating strategies needed today to improve employee engagement by breaking down the employee experience into elements that are both measurable and actionable, very much like our own Moments that Matter framework MEANINGFUL WORK SUPPORTIVE MANAGEMENT POSITIVE WORK ENVIRONMENT GROWTH OPPORTUNITY TRUST IN LEADERSHIP COLLABORATION AND COMMS Work aligns with employees strengths and gives them a sense of purpose and empowerment. They are enabled with the tools and autonomy they need to develop and succeed. Management guides and empowers employees by setting clear goals, coaching for high performance, developing future leaders and providing continuous feedback. Flexible, collaborative, humane, diverse, and inclusive work- place, with benefits and programs to allow work to fit within employees lives; an emphasis on a culture of recognition. Employees have ample opportunity for continuous learning, professional development, and career progression; leaders support and facilitate internal mobility for employees. Inspirational leadership invests in people, communicates honestly, and fulfills the organization s mission, vision, and purpose. Leaders set the narrative and inspire employees. Open culture that encourages cross-organizational collaboration and provides employees with the resources, time, and information necessary to do their jobs. Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 14

16 So, are you ready for the future of work and what it means? OLD RULES People as workers Homogenous workforce Significant permanent workforce Hierarchical, siloed Traditional office Slow to adapt Innovation department Command and control leadership Knowledge Profit driven Technology owns people THE CHANGING WORLD OF WORK NEW RULES People & intelligent machines co-working Diverse workforce Significant contingent workforce Networks of collaborative teams Frictionless, smart workspaces Nimble Innovation by everyone Inclusive leadership Emotional, creative and digital intelligence Purpose driven Technology works for people Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 15

17 What we need to do is always lean into the future; when the world changes around you and when it changes against you what used to be a tail wind is now a head wind you have to lean into that and figure out what to do Jeff Bezos Source: Copyright 2018 Deloitte Development LLC. All rights reserved. Deloitte Shared Services Conference 2018 Changing places: the future of work and what it means for shared services 16

18 About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ( DTTL ), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as Deloitte Global ) does not provide services to clients. Please see for a detailed description of DTTL and its member firms. Please see for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright 2018 Deloitte Development LLC. All rights reserved. 36 USC Member of Deloitte Touche Tohmatsu Limited