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Future of Work
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The future is already here
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3
Of the middle school students will hold jobs
yet to be invented
65%
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Is the Fear and Hype True?
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of today’s jobs will be gone in 10 years
47%
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Is the Fear and Hype True?
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5
US workforce participates in
crowd/gig economy
41%
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Is the Fear and Hype True?
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retraining workers to work side by side with
machines
50%
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Is the Fear and Hype True?
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Disruption lies ahead…
We take a different view…
Copyright © 2017 Deloitte Development LLC. All rights reserved. 8Future of Work | Foundational Lab 1.0 | Updated October 2017
The Future of Work
We are living in a new era that has significantly changed how we think about work and talent
Technology advancements and demographic shifts are changing the nature of work
Explosion in contingent workers
and rise of automation are impacting how and
who delivers work
Operating and business models are
changing to keep pace with the rapidly
changing environment
With the new realities of the Future of Work, how will you respond?
9
Shifting Nature of Work
7. Explosion in contingent work
1. Technology is everywhere
2. Massive growth of AI, cognitive,
robotics
3. Jobs & tasks are vulnerable to
automation
4. Tsunami of data
6. Diversity, demographic, and
generational change
5. Change in nature of careers
1.
2.
3.
5.
4.
Technology learns faster than we do
Work to learn, not learn to work
Everything is on the table
The new workforce is highly diverse
Public policy needs to catch up
7 Drivers 5 New Realities
The future brings new realities which significantly change how we think about work
Future of Work | Foundational Lab 1.0 | Updated October 2017
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Navigating the Future of Work
The new realities of the Future of Work raise important questions for organizations
What will my workforce look
like and how will I automate?
How do I become more
digital?
What will my talent modeland programs
look like?
Where will work happen in
the future?
How does my workforce
change jobs, skills and work?
How will I operate?
How do I prepare for the Future of Work?
Future of Work | Foundational Lab 1.0 | Updated October 2017
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Reimagine all dimensions of the Future of Work
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The type of work will do in the future
The structure and practices to enable people to create value in the future.
The portfolio of workforces, people and machines, on balance sheet and contingent workers and crowds.
Workplace
Workforce
Work
The workforce of the future will be very different than it is today
Workforce(Augmented)
Open Talent
Employees
Joint Ventures
Contractors
Freelancers
Crowd
Robots
D I S R U P T E D
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There is a Continuum of Labor Options
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New talent approaches are being embraced by organizations to meet the needs of the business and increased expectations from workers
Internal Employees
Contingent Workers
Statement of WorkSuppliers
Freelancers
Staff Augmentation
Outsourcing
Suppliers
Non-Billable Workers
Crowdsourcing
Full Time Employee
s
Part Time Employee
s
Seasonal Employees
Hourly Employees
Research shows that between 30-50% of a company’s total workforce is comprised of contingent workers, but few companies are actively managing the bulk of their contingent
workforce suppliers, workers or engagements.
14
Five generations at work
US Civilian labor force participation rate by age
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15
Careers and learning
Real time, all the time
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The 100 Year Life (And 70 Year Career)
“Since 1840 there has been an increase in life expectancy of three months for every year.”
Gratton, Lynda; Scott, Andrew. The 100-Year Life
Today’s
Millennials have
a 50% chance of
living to 100+
Increase in Life Expectancy Over Timehttp://www.mortality.org/
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17
“You can’t stop the
waves, but you can
learn to surf.”
Pick a great
beach which is
safe and pleasant
Paddle out
patiently and find
a good spot
Ride the wave
until it slows and
comes to shore
Peak the wave
when its at its
crest
Enjoy the ride and
accelerate at the
top
21st Century Careers: Surfing the Wave
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50% of Millennials will live to age of 100, expect 10-12 jobs by age of 38
Half-life of technical skills is approximately 2 years
37% of working people believe they will change careers within 5 years
Change in the nature of a Career
Only 29% of companies believe careers in their company are 10 years+, 44% say less than five years
83% of companies believe they will have “open careers” within 3 years, only 19% have structured careers
Life expectancy of Fortune 1000 firm is less than 15 years, S&P 500 firm is five years
Source: Deloitte Human Capital Trends 2017, GitHub, World Economic Forum, Bersin Career Research © 2018. For information, contact Deloitte Touche Tohmatsu Limited.
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Rethinking combinations of talent, technology and workplace
Current work options
Future work options
Physical Proximity
Talent CategoryAutomation Level
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20
The Future of Work
Reframing the way humans and machineswork together to create impact
21
Copyright © 2017 Deloitte Development LLC. All rights reserved.
Jobs are notgoing away.
They are just changing.
NEW JOBS
Increased Need for Social, Integrative, and Hybrid Skills
Talent for survival Essential skills for humans working in the machine age, Deloitte UK, 2016
Skills map, David Deming, Harvard University, 1980-2012, “Catch the Wave,” Deloitte University Press, Josh Bersin, 2017
Job Capabilities For the Future
• Empathy
• Communication
• Close vision
• Speaking
• Interpreting data
• Judgement
• Social skills
• Integrated thinking
• Design
• Hybrid jobs
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23
Focus on the employee experience
“Our candidates today are not looking for a career…
They’re looking for an experience.”
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24
Millennial Expectations Have Changed Work
80% want to give
performance appraisals to
the boss
60% think 7 months of tenure
means they’re “loyal”
2/3 want to be “creative”
at work in their job
Their “team mates” are the most important people at
work
Expect feedback
weekly and progression
annually
Deloitte Millennial Survey, n=70,000, Spring 2016
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25Copyright © 2016 Deloitte Development LLC. All rights reserved.
How does HR
SUSTAIN value
in this ever-
evolving world to
take the lead?
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© 2018. For information, contact Deloitte Touche Tohmatsu Limited.