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Future of Work

2

The future is already here

© 2018. For information, contact Deloitte Touche Tohmatsu Limited.

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3

Of the middle school students will hold jobs

yet to be invented

65%


Is the Fear and Hype True?



4

of today’s jobs will be gone in 10 years

47%





5

US workforce participates in

crowd/gig economy

41%





6

retraining workers to work side by side with

machines

50%





7

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


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


There is a Continuum of Labor Options


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.

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Five generations at work

US Civilian labor force participation rate by age



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Careers and learning

Real time, all the time



16

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/




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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The Future of Work

Reframing the way humans and machineswork together to create impact

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




23

Focus on the employee experience

“Our candidates today are not looking for a career…

They’re looking for an experience.”




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


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 www.deloitte.com/about to learn more about our global network of member firms.

This communication is for internal distribution and use only among personnel of Deloitte Touche Tohmatsu Limited, its member firms, and their related entities (collectively, the “Deloitte Network”). None of the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this communication.


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