- There is no agreement or consensus around best practice and there is no shared vision about the future role of average or ordinary workers in tomorrow’s digital enterprise.
- We see a profound disconnect between people’s expectations around the value they contribute and their organization’s willingness and ability to invest in them.
- A bimodal distribution may be emerging: some organizations seek to make their human resources (even) more transactional and disposable; others are looking hard at how to make better bets on longer-term human capital cultivation and returns.
Context of the MIT SMR-Deloitte research about the future of the workforce
- The MIT SMR-Deloitte global executive survey and interviews identify the design of opportunity marketplaces as perhaps the key leadership challenge for organizations seeking to ethically maximize human capital returns.
- To understand the challenges organizations face managing their workforces as they continue to progress in their digital transformations, MIT Sloan Management Review, in collaboration with Deloitte, conducted its ninth annual survey of nearly 3,900 business executives, managers, and analysts from organizations around the world.
- The survey, conducted in the fall of 2019, captured insights from individuals in 126 countries and 28 industries at organizations of various sizes. More than two-thirds of the respondents were from outside the U.S.
10 Lessons Learned from MIT SMR-Deloitte Research on the Future of the Workforce
- It recognizes the workforce as a uniquely human resource.
- It demands a shift in core workforce management practices such as workforce planning and deployment, and performance management and development.
- With this opportunity approach, organizations and their people are better able to recognize that their mutual success depends on ever-smarter investment in themselves and each other.
- The French multinational, founded in 1836 as Schneider & Cie, employs a 135,000-person workforce and has a presence in more than 100 countries (with more employees in the United States than anywhere else). It’s a legacy company, but it was compelled to disrupt legacy personnel practices when analytics revealed that nearly half the employees who left the organization did so because they felt they had no sufficient visibility to future growth opportunities.
- At Schneider, the hard- and soft-dollar costs of attrition led the company, in 2018, to launch its “open talent market,” which uses AI to match employees with short-term projects, stretch assignments, side gigs, full-time roles, and mentors. As Schneider HR vice president Amy deCastro explains, “We are creating an internal market that wasn’t there before, and it’s a market that employees can take advantage of instead of going out into the external market.”
- This opportunity marketplace in turn generates a wealth of data for Schneider about its employees’ skills and interests, ensuring explicit and measurable alignment between internal opportunities and Schneider’s broader strategic aspirations.
- It also primes employees to fulfill the priority of better meeting and exceeding client expectations.
- “We’ve always told our employees that they own their careers, that they are in the driver’s seat,” Saidy says.
- With its opportunity marketplace, Schneider’s workplace culture has become more dynamic and responsive so that employees find it easier to invest in themselves.
- This commitment goes beyond retraining and upskilling: Schneider’s opportunity market can guide talent to projects aligned with their own sense of purpose and goals.
Category 2: The Big Picture of The Digital Age
[genioux fact extracted from MIT SMR + Deloitte]
Authors of the genioux fact