Future of Work is getting bigger in the rearview mirror

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4 Future of Work is getting bigger in the rearview mirror The Open Talent Economy Deloitte Review 2013 Machines As Talent Global Human Capital Trends 2015 The Gig Economy: Disruption or Distraction? Global Human Capital Trends 2016 The Future of Work: The Augmented Workforce Global Human Capital Trends 2017 COMING UP NEXT Navigati ng the Future of Work Navigating the Future of Work Deloitte Review July 2017 Future of Work 4

5 We live in times of unprecedented change and opportunity. Technology is everywhere 2.6 billion+ smartphones in the world AI, Cognitive Computing, Robotics $500,000 in 2008 $22,000 today Tsunami of data 9x more in last 2 years 7 Disruptors Jobs vulnerable to automation 35% UK 47% US 77% China Diversity and generational change Millennials 50% 25% global pop in Africa by 2050 Longevity Dividend 50 year careers Change in nature of a career years: Half-life of skills 4.5 years: Average tenure in a job Explosion in contingent work US Contingent workers 40% by 2020 Future of Work 5

6 The world right now five new realities Technology learns faster than we can Work to learn, not learn to work Everything is on the table The new workforce is highly diverse Public policy needs to catch up Future of Work 6

7 In the new era, there are new rules to live by 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 Future of Work 7

8 The augmented workforce of tomorrow will be very different from today s Source: Deloitte, 2017 Future of Work 8

9 Rethinking combinations of talent, technology and workplace 3 Physical proximity Current work options Future work options 1 2 Automation level Talent category Future of Work 9

10 Reimagine all dimensions of the Future of Work Workplace The structure and practices to enable people to create value in the Future. Work The type of work people will do in the Future. Workforce The portfolio of workforces, people and machines, on balance sheet and contingent workers and crowds Source: Deloitte, 2017 Future of Work 10

11 Now we have some questions for you To participate: Code: Future of Work 11

12 Disruption lies ahead. Here are some questions to consider. 1 How well prepared are you for the future of work? 1: What is the Future of Work? 2: Unprepared 3: Prepared 4: Well prepared 5: Very well prepared To participate: Code: Future of Work 12

13 Disruption lies ahead. Here are some questions to consider. 2 What are the top challenges your organization will encounter along this journey? Leadership preparedness? Employee skills? Job displacement? Timing? Talent unprepared? Willingness to change? To participate: Code: Future of Work 13

14 Disruption lies ahead. Here are some questions to consider. 3 most impact from the upcoming changes? What part of your organization will feel the Choose Two: Leadership Managers Employees Customers Suppliers To participate: Code: Future of Work 14

15 Disruption lies ahead. Here are some questions to consider. 4 When do you think your organization will start to feel the impact of the future of work? Choose One: Now Next 6 months Next year Next 3 years Next 5 years To participate: Code: Future of Work 15

16 Disruption lies ahead. Here are some questions to consider. 5 workforce of tomorrow? What skills are most needed for the Choose Two: Creativity Problem Solving Entrepreneurship Empathy Communication Skills Analysis To participate: Code: Future of Work 16

17 Disruption lies ahead. Here are some questions to consider. 6 How well suited are your current career and learning programs for the future or work? 1: Haven t started 2: Unprepared 3: Prepared 4: Well prepared 5: Very well prepared To participate: Code: Future of Work 17

18 18 Future of Work 18

19 Let s Meet the Modern Learner The World has Changed Future of Work 19

20 The optimal Learner Experience The modern learner brings both new and higher expectations to business learning, presenting new challenges and opportunities LEARNING ORGANIZATION-LED LEARNER-LED Learning is an environment and an experience External learning is available from any digital content source Learning organizations focus more on frameworks and less on competency models Employees pull learning Learning organization plays a supporting role Future of Work 20

21 There is an emerging new normal for Learning FROM Traditional Training The status quo Static Catalogs Textbook trainings 2-3 day trainings Generic curriculum Fixed location Enabled by Learning Management Systems 1:1 trainings The New Learning Model Building Blocks Technology Social Mobile Analytics Cloud VR Organization Design Thinking TO Personal Learning The Innovative Model Smart technologies that proactively suggest just in time learning Immersive experiences supported by AR/VR Pulling content through online engagement Personal contextualized experiences that know learner and their needs Engaging videos, 2-3 minute quick lessons, social, mobile & on-demand Built on learning experience platforms supported by other learning technologies Many:Many learning Future of Work 21

22 Learning Technology Landscape Investment in Learning Technologies must be thoughtful and executed in phases including prioritization, scoping & sizing and plotting of initiatives over time. Investing rapidly in many technologies at the same time will be detrimental to adoption and ineffective. Virtual Reality Web based Key Success Factors Augmented Content (Gamification/Virtual Reality) Social Learning Mobile Content Server Organizational capability to support technologies Content and interactions that maximize the utilization of technology components Social Networking (Forums/Wikis/Blogs) Informal Learning Coaching/Mentoring Instructor Led LMS Learning Data Store Effective learning programs that leverage relevant technologies Collaborative Tools (Skype/Adobe Connect/SharePoint) On the Job Virtual Classroom Third Party Content (MOOC, vendor catalogs) Support from Business stakeholders to leverage relevant technologies for programs Learning Record Store Based on employee experience & enabling technology vision, identify the technology components that are relevant to your employee Prioritize the learning technology initiatives with an understanding of scope & size Prepare a roadmap that identifies the integration between these components and lists the journey with timeline. Future of Work 22

23 Crafting the Learning Technology Strategy & Roadmap Shifting the delivery of learning from curriculums and courses to the design of experiences that delight and engage employees Evolving from Traditional Course Approach focusing on delivering content Moving towards 1 2 Assess current state of Learning Technology 1. Understand the vision for L&D 2. Review current employee interactions & challenges 3. Identify current technologies used to support learning 4. Evaluate learning technology landscape 5. Decide where to focus Identify Moments that Matter to your employees 1. Select Employee Personas (i.e. Per-Hire, New Manager, Experienced Hire Sales, Customer Service) 2. Identify Key Learning Moments that matter for the employee (Starting my 1 st week, Applying for a Job, Making a sales call, 3. Craft learning experiences (mobile app; game based simulations, community learning portals) Customer-Centric Personalized Approach based on needs of learning customers 3 Define Learning Technology Roadmap 1. Identify technologies to support new employee experiences 2. Identify & recommend appropriate vendors 3. Craft technology strategy, architecture and roadmap 4. Create implementation plan with timelines Future of Work 23

24 Future of Work 24

25 Can we harness the tsunami to solve Talent challenges? Leveraging people analytics to solve business problems involves identifying the business issue followed by understanding and using data to uncover insights and create action plans Workforce Issues What are the workforce challenges at hand? Actions CRITICAL QUESTIONS Business Results Facts What workforce data is required and can be leveraged to understand the HR functions? What should we do based on the insights available? Understanding What is currently happening related to our workforce and why? Future of Work 25

26 78% HR leaders see analytics as an essential technology to support their ability to deliver strategic value 48% see predictive analytics would deliver ROI through anticipating trends such as employee retention 26

27 Reporting is NOT Analytics REPORTING ANALYTICS Descriptive Integrated Predictive Prescriptive Cognitive What happened? How do we compare? What is likely to happen? What should we do? What should we do next? Provides Information Provides what is Asked For Focus is on the Past High Degree of Standardization Broad Audience Is mostly Inflexible Provides Insights & Answers Provides what is Needed Focus is on the Future High Degree of Customization Targeted Audience Is extremely Flexible 86% of HR functions are stuck here* 14% of HR functions have progressed to here* *Source Bersin by Deloitte Future of Work 27

28 Predictive Descriptive Prescriptive Future of Work 28

29 Level Setting What do we mean by analytics? Not all issues require advanced analytics. We recommend that our clients use the least sophisticated approach to achieve their objectives Predictive Analytics: Scenario planning and risk mitigation Advanced Analytics: Segmentation, statistical analysis, and development of people models Advanced Reporting: Measurement for benchmarking and decision making Operational Reporting: Measurement for efficiency and compliance Measures that help transform the business and define the future Using models to identify potential future risks (e.g., shortages, skills gaps, performance gaps), creating workforce planning scenarios based on business and economic conditions, identifying current and future talent risks in detail Measures and tools that help dramatically improve the business Segmentation of the workforce into various performance and risk pools; understanding drivers of business performance and talent readiness with statistical rigor; and, building trusted people models that define the variables which drive outcomes, creating actionable dashboards and tools based on these models HR measures that tell how we compare and can improve HR, L&D and business operations Data that displays trends and can be used for analysis Business and derived HR measures, including revenue per employee, engagement, risk of loss, actual skills, mobility, HR spending per employee, L&D efficiency and trend data over time HR measures that explain how we are allocating resources, and the state of our workforce and HR programs Training hours, time to hire, cost to hire, depth of leadership pipeline, grievances, safety records, demographics, tenure, certification levels, Compa ratios, turnover, performance distribution, etc. Source: Bersin by Deloitte Future of Work 29

30 The typical process for People Analytics Leveraging people analytics to solve business problems involves identifying the business issue followed by understanding and using data to uncover insights and create action plans Business Strategy Workforce Issues What are the workforce challenges at hand? Actions CRITICAL QUESTIONS Business Results Facts What workforce data is required and can be leveraged to understand the HR functions? What should we do based on the insights available? Understanding What is currently happening related to our workforce and why? Enabled by Technology Future of Work 30

31 Business challenges that People Analytics can help solve 1 Quality of Hire 6 Accident Risk 2 Attrition in key job families 7 Absenteeism 3 Drivers of Sales Performance / Customer Satisfaction 8 Ageing workforce 4 Impact of engagement on business performance 9 Effective learning 5 Optimal pay & reward strategies 10 Productivity Future of Work 31

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33 If you re an employee: A continuum of talent Multiple careers, life long learning, working with smart machines 33 Future of Work 33

34 If you re a hr leader: Time for action and experimentation 34 Future of Work 34

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36 For more information For more information please contact Deloitte Human Capital Adrian Ole Cheryl Chow Director Deloitte Human Capital Deloitte Consulting Southeast Asia Director Deloitte Human Capital Deloitte Consulting Southeast Asia www2.deloitte.com/global/en/pages/human-capital/topics/future-of-work Future of Work 36