Only 17% of respondents are making significant investments in reskilling to support their AI strategy with only 12% using AI primarily to replace workers; At a time when workforce shifts are happening at warp speed, only 1 in 10 respondents are producing workforce insights in real time; Just 27% of respondents have clear policies and practices to manage the ethical challenges resulting from the future of work despite 85% of respondents saying the future of work raises ethical challenges; Three-quarters of leaders are expecting to source new skills and capabilities through reskilling, but only 45% are rewarding workers for the development of new skills; and, Only 45% of respondents are prepared or very prepared to take advantage of the alternative workforce to access key capabilities despite gig workers being likely to comprise 43% of the U.S. workforce this year according to the. Deloitte Global With the “half-life” of technical skills decreasing, the use of forward-looking workforce metrics is critical for boards and investors to gain insights into the reskilling of workers. +1 617 585 5886, Steve Dutton The presentation will provide insights into Deloitte's 2020 Global Human Capital Trends report. Beyond reskilling and investing in resilience Dan Berner is the North Texas managing partner of Deloitte. Certain services may not be available to attest clients under the rules and regulations of public accounting. Human Capital Trends; Designing work for wellbeing. How can organizations remain distinctly human in a technology-driven world? Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. After the pandemic, 61% of executives surveyed in Deloitte’s 2021 Global Human Capital Trends report said they plan to focus on reimagining work, compared to just 29% the previous year. Discover Deloitte and learn more about our people and culture. —Erica Volini, principal and global human capital leader, Deloitte Consulting LLP. The webinar was presented by Vicky Yeo and Yvette Keys from Deloitte New Zealand. The “2020 Global Human Capital Trends” report explores how leaders can work to combine the power of technology and people to embed purpose, potential, and perspective into the … The 2020 Global Human Capital Trends report is the 10th edition of our annual Global Human Capital Trends report, which has offered readers an opportunity to understand each moment in history, … If organizations don’t figure out how to capitalize on humans’ ability at work, they will not only sub-optimize the potential that technology creates, but hamper the reinvention required to thrive in the context of this pandemic and beyond. In this role, she is focused on helping leaders solve their most complex and pressing human capital i... More, Jeff is a senior consulting partner and is a recognized global advisor and thought leader in the future of work. COVID-19 has created a clarifying moment for work and the workforce. While technology provides a tremendous platform for reinvention, organizations need to realize that reinventing work is about building a culture where humans can thrive by creating meaning in work, as well as developing a new level of resilience and adaptability to handle disruptive events. Deloitte Services LP In its 10th annual 2020 Global Human Capital Trends report, “The social enterprise at work: Paradox as a path forward,” Deloitte examines ways to create that level of sustainability by … © 2020. VIEWS. Deloitte, together with Workday, addresses differentiators for the 2020 Human Capital Trends, and showcases the potential of an HCM cloud enterprise enabled by Workday When asked how creating a sense of belonging supports organizational performance, 63% answered that it does so by enhancing alignment between individual and organizational objectives. In just a few short years, the concept of the social enterprise has evolved from an intriguing new concept into a concrete business reality. This extraordinary time is when organizations should identify and invest in workers’ capabilities, develop new team structures, and evaluate how to best leverage the alternative workforce. How can organizations remain distinctly human in a technology-driven world? Leaders must initiate and lead the dialogue around tech-related ethical concerns and the alternative workforce by Talenttalks. Deloitte Study: When Resilience Can Determine Organizational Survival, Only 16% of Business Leaders Expect to Significantly Increase Investment in the Continual Reinvention of the Workforce Over the Next Three Years has been saved, Deloitte Study: When Resilience Can Determine Organizational Survival, Only 16% of Business Leaders Expect to Significantly Increase Investment in the Continual Reinvention of the Workforce Over the Next Three Years has been removed, An Article Titled Deloitte Study: When Resilience Can Determine Organizational Survival, Only 16% of Business Leaders Expect to Significantly Increase Investment in the Continual Reinvention of the Workforce Over the Next Three Years already exists in Saved items. The 2020 Deloitte Global Human Capital Trends report. DTTL (also referred to as "Deloitte Global") does not provide services to clients. November 11, 2020 Public Relations Having surveyed approximately 55,000 business leaders over 10 years, this is the largest longitudinal study of its kind. Organizations are emerging from the pandemic to more fully become social enterprises, promising workers greater belonging without compromising individuality, job security through reinvention, and new opportunities from uncertainty.. Drenched in a paradox that combines technology with the human experience, these were three major findings from the 2020 Deloitte Global Human Capital Trends … In its 10 th annual 2020 Global Human Capital Trends report, “The social enterprise at work: Paradox as a path forward,” Deloitte examines ways to create that level of sustainability by finding the intersection … In fact, almost half of this year’s respondents categorized their organization’s purpose as broadening extensively to include all stakeholders, including the communities they serve and society at large. See Terms of Use for more information. To thrive in an environment that can shift from moment to moment, organizations must become distinctly human at the core. to receive more business insights, analysis, and perspectives from Deloitte Insights, Telecommunications, Media & Entertainment. Methodology While all of this year’s Human Capital Trends are TMT-relevant, four main trends stood out. This year’s Global Human Capital Trends … Expanding on the evolution of the relationship between technology and people, superteams offers an approach for how humans and technology can work ‘together’ in groups to create more value and stronger workplaces for the future. Power, Utilities & Renewables Human Capital Leader, Telecommunications, Media & Entertainment, The social enterprise at work: Paradox as a path forward. Completed by nearly 9,000 respondents in 119 countries, Deloitte’s 10th annual Global Human Capital Trends report is the largest longitudinal survey of its kind and marks a decade of investigating and understanding how humans can continue to find meaning in work. According to Deloitte… One of the highlights for me from a learning perspective every year is reading the annual Deloitte Human Capital Trends … Certain services may not be available to attest clients under the rules and regulations of public accounting. Thriving: Embracing an enterprise mindset that prioritizes re-architecting work to capitalize on unique human strengths. This article, … Human Capital Trends 2020 and the implications for HR Shared Services 2020 Deloitte Shared Services Virtual Conference | 18 June 2020 Twenty-six percent of respondents are not confident in HR’s ability to step-up and lead effectively, providing HR with the opportunity to demonstrate their strength to help organizations navigate the new normal created by the COVID-19 crisis. Now organizations should be thinking about how to sustain these actions by embedding them into their organizational culture and DNA. Well-being extends beyond physical health to employees feeling a sense of purpose and belonging. A wide majority (85%) of respondents believe there are ethical concerns related to the future of work, including the maintenance of privacy, control of workers’ data, and the treatment of alternative workers. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Deloitte’s 2020 Global Human Capital Trends report calls upon organizations to embrace three attributes—purpose, potential, and perspective—that characterize what it means to fuse people … The sixth Human Capital Trend, 'Designing work for wellbeing: Living and performing at your best', was presented virtually on 15th June. Why it matters to business leaders Infographic: 2020 Deloitte Global Human Capital Trends. Posted on 20/05/2020 20/05/2020 by Elize. Finding potential through the convergence of humans and technology Since 2010, Human Capital Trends tracks the thinking and actions of leading organizations, representing some of North America’s largest and most influential organizations. +1 202 734 3207, Erica Volini, a principal with Deloitte Consulting LLP, is Deloitte’s Global Human Capital leader. With the onset of COVID-19, organizations have had to take immediate actions in reaction to the pandemic, such as the shift to remote and virtual work, the implementation of new ways of working and redirecting the workforce on critical activities. Based on our research, the three characteristics that need to be embedded into a social enterprise’s DNA to help them prepare for the future are: purpose (deepening the mission and values connection amongst teams, individuals and the work itself), potential (tapping into workers’ capability to contribute in new ways) and perspective (making bold decisions at a time of persistent change). Each requires significant shifts in workforce strategies and programs, but offers a clear path that organizations can follow to enable them to recover and thrive. In its 10th annual 2020 Global Human Capital Trends report, “The social enterprise at work: Paradox as a path forward,” Deloitte examines ways to create that level of sustainability by finding the intersection between humans and technology and defining the core attributes that need to be embedded in the organization to create and sustain that integration. Twenty-eight percent of respondents said that feeling aligned to the organization’s purpose, mission and values, and being valued for their individual contributions, are the most impactful ways to help ensure a sense of belonging. This integration will enable lasting value and provide workers with an increased sense of belonging and well-being. Last year, we introduced the idea of superjobs, which combine work and responsibilities from multiple traditional jobs, using technology to augment the scope and impact of the work individuals perform. Organizations may be failing to recognize the importance of alternative workers, even as this workforce segment rapidly grows. Now celebrating 175 years of service, our network of member firms spans more than 150 countries and territories. Themes that can help organizations achieve their potential and gain new perspectives are explored in the second part of this two-part series based on Deloitte’s "2020 Global Human Capital Trends" report. Timely, relevant, and relatable, the blog features discussions on the HR … The social enterprise … Leaders are taking notice: more than half of this year’s survey respondents (52%) report they consider generational differences to some or to a great extent when designing and delivering workforce programs. A podcast by our professionals who share a sneak peek at life inside Deloitte. About Deloitte For example, just 21% of organizations say their well-being strategy includes alternative workers. DTTL and each of its member firms are legally separate and independent entities. He has been a consulting partner for 25 years and he has extensive experience in workfo... More, Brad is a principal in Deloitte Consulting and leads Deloitte’s US Human Capital practice for Power, Utilities & Renewables. The 2020 Global Human Capital Trends report explores how leaders can work to combine the power of technology and people to embed purpose, potential, and perspective into the … Capital H Blog. Social enterprise at work and bringing purpose to the forefront Melissa Doyle However, only 45% said they are prepared or very prepared for this shift—the lowest preparedness score for any of the issues surveyed as emerging challenges in the next 10 years. However, only 6% of respondents strongly agree their leaders are equipped to lead a multi-generational workforce effectively. To see additional results from Deloitte’s “2020 Global Human Capital Trends” report, download a copy. Deloitte’s “2020 Global Human Capital Trends” survey, which polled nearly 9,000 business and HR leaders in 119 countries, reflects this growing movement: Fifty percent of … 2020 Deloitte Global Human Capital Trends Download the full report Three bold moves drive HR trends in financial services for the future In order to harness financial services digital trends and the connection … DTTL (also referred to as "Deloitte Global") does not provide services to clients. Our people work across the industry sectors that drive and shape today’s marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Furthermore, 66% of respondents believed that the number of jobs would either stay the same or increase as a result of AI’s use in the next three years. One report that many HR professionals eagerly await each year is the Deloitte Global Human Trends … Discover Deloitte and learn more about our people and culture. Thirty-two percent of respondents identified lack of investment as the greatest barrier to workforce development in their organization, with only 17% of respondents expressing confidence “to a great extent” that their organizations can anticipate the skills their organizations will need in three years. This year’s report revealed that respondents believe some generational gaps will become less pronounced in the next three years (views on work/life flexibility, expectations of loyalty/job security, and expectations of advancement), while others will become more pronounced (degree of technology-savvy, agility to shift roles, expectations of social impact). Although historically organizations were only responsible for workers’ safety, today nearly all respondents—96%—say that well-being is an organizational responsibility. The social enterprise at work: Paradox as a path forward: 2020 Deloitte Global Human Capital Trends How can organizations remain distinctly human in a technology-driven world? Please enable JavaScript to view the site. October 30, 2020. in People Planning, Zero Fee Content. 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. 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