Yan is a frequent speaker at public conferences on organization transformation and human capital trends and strategies. Executive Director | Research Center for ER&I, Telecommunications, Media & Entertainment, The Future of Work in Oil, Gas and Chemicals: Opportunity in the time of change, Implications of COVID-19 for the US shale industry, 2020 Oil, Gas, and Chemical Industry Outlook: A midyear update. It's a compelling opportunity to put customers and staff at the centre of that future by embracing automation opportunities with technology. A major concern facing city leaders is whether public … DTTL (also referred to as "Deloitte Global") does not provide services to clients. Deloitte’s 2020 Human Capital Trends report provides a wealth of information on the future of work, especially in light of COVID-19. Maren Hauptmann is the lead partner for the Organization Transformation & Talent service line within Deloitte’s German Human Capital practice. Within Deloitte, she has served as a member of Deloitte Consulting’s Management Committee and Board of Directors. The multinational consulting giant Deloitte is proposing shuttering four office buildings in the U.K. but keeping all staff on work-from-home contracts, the company told ABC News Monday. The sensitivity of U.S. OG&C employment to oil prices is extremely high, with a dollar change in oil price potentially affecting 3,000 upstream and oilfield services jobs. The COVID-19 shift: COVID-19 showed people that while technology can augment and supplement work, it does not replace what is needed from humans. The latter view can allow organizations to not only streamline costs, but to also create value and ultimately, provide meaning to the workforce as a whole. The social enterprise, as defined in our 2018 Global human capital trends report, embodies a “new social contract” that proposes a more human-centered rewiring of the relationships between the individual and the organization and the organization and society.3 Since 2018, we have seen the speed and scale of change continue to accelerate, with technological advances bringing bigger and bolder changes in shorter windows of time. If organizations can better understand their workers, they will be able to more effectively develop targeted programs and policies that bring out workers’ personal best while affording them the heath protections they need to safely do their work. News provided by. ITS was deeply involved in Deloitte’s future-of-work plans, and COVID-19 has pushed our team to a more central role in shaping strategy. Below, we provide a view on how to start that process by leveraging this year’s human capital trends—a set of reflections, recommendations, and frameworks which we believe are more critical than ever as organizations head toward recovery from the COVID-19 crisis. In this year’s report, we challenge organizations to reexamine whether humanity and technology were truly in conflict and to consider how it is possible to resolve the seeming paradox of finding ways to remain distinctly human in a technology-driven world. While it’s anyone’s guess what’s next, some constants remain: organisational performance will always be important, and it is dependent on employees. Discover Deloitte and learn more about our people and culture. We have developed a daily regulatory intelligence bulletin, powered by RegHub and Corlytics, which aims to provide a summary of regulatory developments relating to COVID-19. View in article, Mary Mazzoni, “15 companies retooling their operations to fight COVID-19,” Triple Pundit, May 1, 2020. Belonging: From comfort to connection to contribution. Your happiness at work matters.There are many lessons from the COVID-19 pandemic. Staff should be at the heart of these changes and their needs and voices valued. Today’s changed environment has given OG&C organizations the much-needed “why not” to transform themselves and find new ways to reclaim their previous appeal. By Steve Burrill, vice chairman, US Health Care Leader, Deloitte LLP. In thesecompanies,work, workforce,and workplaceexperiencesare supported by an … New possibilities: As they stage the return to work, organizations should apply that same lesson to the workforce, using a data-driven approach to better understand workers’ unique attributes, needs, and dimensions and segment their workforce accordingly. The COVID-19 situation is complex and fast-moving, resulting in an extremely challenging environment to navigate. A podcast by our professionals who share a sneak peek at life inside Deloitte. He has over 20 years’ experience as consultant, project manager and programme developer for Human Capital projects for multiple European, Japanese, American and Belgian multinationals and SMEs. And yet amid the tragedy and uncertainty ran a strong undercurrent of hope. Deloitte’s Human Capital professionals leverage research, analytics, and industry insights to help design and execute the HR, talent, leadership, organization, and change programs that enable business performance through people performance. The remote model of work tested in the COVID-19 situation has proven... that most services can be delivered from any location. Consider, for instance, how workers at some consumer products companies have found meaning and inspiration in their jobs as their companies increased production of (or in some cases, pivoted to start developing) disinfectants and sanitizers.6 People want to contribute to their organizations when they understand how their unique talents, strengths, and contributions are making an impact on larger goals. already exists in Saved items. Happiness at work matters. Deloitte: In Wake of COVID-19, 61% of Executives Now Focused on Transforming Work, Double Pre-Pandemic Levels Executives focus on re-architecting work by … 1 One area where acts of kindness have proliferated during the COVID-19 pandemic has been in the public’s acknowledgement and appreciation of the work of NHS staff. Deloitte Australia launches AWS Cloud Guild. The coronavirus pandemic ushered in a sudden, massive work-from-home experiment for much of … This downturn is like no other and will have profound impacts on the industry. Predicting the future of work is always tricky, and the COVID-19 pandemic has made any type of prognosis even more difficult. These ethical implications extend to many segments of the workforce, but were particularly evident in the experience of the alternative workforce, … David, a 10-year veteran of the organization, led the research teams at Deloitte for six years. During the COVID-19 pandemic, organizations have experienced a burst of acceleration, fast-forwarding into the future of work in ways that stress-tested their ability to blend people and technology in the most dynamic business environment many of us have ever seen. They should also be monitoring government response, as this too will continue to evolve coming out of the crisis. Erica Volini Throughout her career, she has worked with some of … has been removed, An Article Titled Returning to work in the future of work The social enterprise went to work. First, the transition to wholesale working from home (WFH) has largely been an operational success. This piece was co-authored by Jeff Schwartz, principal and US leader for the Future of Work, Deloitte Consulting LLP. Mumbai: As most companies saw their employees working from home due to the Covid pandemic, they are worried that this is also set to see a substantial jump in the frauds in next two years, a Deloitte survey said. New possibilities: As they stage the return to work, organizations should ask themselves what principles serve as the foundation for their compensation philosophy, programs, and policies. Social login not available on Microsoft Edge browser at this time. Deloitte’s 2020 Human Capital Trends report provides a wealth of information on the future of work, It also describes about what a COVID-adjusted strategy could look like for any organisation which is looking to embrace the 'Future of Work. The COVID-19 shift: COVID-19 reminded us that people are motivated at the highest levels when they can connect their work contributions to a greater purpose and mission. The COVID-19 shift: COVID-19 put the need for and ease of access to insightful and future-oriented workforce data in the spotlight. The future of our work-place can be found in our living rooms and at the corner office in our houses. Now is not the time to pull back on workforce development efforts, but instead to double down on commitments to building a resilient workforce that can adapt in the face of constant change. How will trends and technologies impact industries and the workforce moving forward? A Deloitte Global survey of 400 women across nine countries found many respondents are concerned about the effect the pandemic may have on their career progression. Deloitte Services LP By putting people at the core of business transformation strategies, the industry may hopefully regain its appeal and position itself for what’s expected to be a much different landscape in the future. Deloitte has released its latest study on the global human capital trends for 2021, highlighting the five key workforce trends shaping the emerging outlook towards work and insists to make a “fundamental mindset shift: from a focus on surviving to the pursuit of thriving”. 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. Home working has been recommended or enforced and employers have had to implement remote working solutions often without the necessary policies already in place. Please enable JavaScript to view the site. This is the time for organizations to challenge whether they’ve been asking the right questions all along and whether they have the governance and processes in place to enable them to use the data to truly sense what is happening across the organization and workforce. Simultaneously confronted with multi-decade low prices, unforeseen demand destruction, and changes in end-use consumption due to mass telecommuting, mounting debt loads, and renewed focus on health from COVID-19, the industry is entering a period of "great compression.” This compression is stressing the three deeply connected future of work dimensions of an OG&C organization — the core hydrocarbon business model itself (“work”), who does the work (“workforce”) and where work is done (“workplace”). COVID-19 has revealed preparedness gaps while advancing digital innovations and underused technologies such as video conferencing, remote monitoring, and tools for remote work and online learning. It also serves as a window into what can happen if the intersection of humanity and technology and the opportunity to operate as a true social enterprise are not fully embraced. Coronavirus: Deloitte company survey shows home-working to quintuple by 2025 This picture taken on March 23, 2020 shows Yuki Sato, an employee in a … COVID-19 has changed perceptions about physical location – and, therefore, the whole operating model for Financial Services (FS) – in two fundamental ways. The U.S. oil, natural gas and chemicals (OG&C) industry slashed 107,000 jobs from March to August 2020, the fastest rate of layoffs in the industry’s history. Based on his experience in high performance coaching in sports, he has an affinity for leadership- and organisational development. This is by no means an exhaustive list, but rather a starting point: an opportunity to consciously reflect on what has happened over the past few weeks and months in an effort to embrace the possibility that lies ahead. Leading organizations will do the same. Through our proprietary Experience per Square Foot TM (XSF) tool, Cushman & Wakefield has captured more than 2.5 million data points from workers all over the globe in the pre-COVID-19 era and a further 1.7 million data points from more than 50,000 respondents in the current work from home environment. As more than 30 million people have lost their job due to COVID … In today’s world of constant disruption, those issues include everything from navigating the future of work to enabling the digital organization—all centered around how to optimize the intersection of the workforce and business performance. That’s why our Insurance services team will be publishing regular articles, breaking down what insurers need to consider, both in the near future and farther afield. As the pandemic progressed, researchers honed their investigations based on population attributes that extended beyond age, whether geography, living situation, or prior health conditions, thereby quickly expanding the understanding of the virus at levels previously not understood. Copy a customized link that shows your highlighted text. 3 Dec, 2020 03:59 PM 4 minutes to read. And in some cases, COVID-19 has forced the pendulum of a long-observed pattern to one extreme. Throughout her 20+ year career, Erica has worked with some of the world’s leading organizations and is a frequent speaker on how market trends are impacting the HR organization and profession as a whole. We chose two specific areas of the report and asked Deloitte’s Global Human Capital Leader, Erica Volini, to provide insight on them. This crisis presents a unique opportunity for organizations that can overcome the instinct of treating humans and machines on parallel paths to instead build connections that can pave a path forward, one that can nurture growth and innovation in the weeks, months, and years to come. In each chapter, we show how organizations that embrace a new set of attributes anchored in purpose, potential, and perspective can create lasting value for themselves, their workforce, and society at large. While extremely challenging, this downturn presents an opportunity for companies to reposition. She has a Bachelor of Science in Industrial & Labor Relations from Cornell University. But will it last? +1 713 982 3108, Brian Brooks But, remote working is … "COVID-19 has fast-tracked our future of work programme, leading us to review our real estate portfolio," Stephen Griggs, Deloitte's UK managing partner, said in an emailed statement. In the past few months, we have seen a greater appreciation for the breadth of what HR does and can do: It has been essential in everything from monitoring workforce sentiment, to establishing connections between organizational leaders, workers, and teams, to integrating well-being into work and reimagining how, where, and what work gets done. An authority in all areas of human resource, talent, learning, and leadership, David brings an integrated perspective to organizations seeking to solve their significant workforce challenges. 1: Increase in remote working. What will the future of work look like? NZ Herald. This will open up the possibility for workers to both live and perform at their best. Focusing on the return to work alone is not a viable option, as it will not allow organizations to capitalize on all that they have experienced and learned over the past few months. We’ve already seen compensation-related actions on the front line, such as raising minimum wages for essential workers8 or cutting executive compensation to prioritize keeping people employed.9. Deloitte Study: The Future of Work in Oil, Gas and Chemicals COVID-19 and the oil downturn make workforce and business transformation a strategic imperative . “COVID-19 has fast-tracked our future of work programme, leading us to review our real estate portfolio,” Stephen Griggs, Deloitte’s UK managing partner, said in an emailed statement. Companies that choose to see the coming decade as an opportunity for transformation will likely not just outlive this compression but may even lead the industry into the future of work. Coronavirus: Deloitte company survey shows home-working to quintuple by 2025 This picture taken on March 23, 2020 shows Yuki Sato, an employee in a … Certain services may not be available to attest clients under the rules and regulations of public accounting. Whether it was data on the capabilities of the workforce, the state of workers’ physical and mental well-being, or an assessment of how well the organization’s culture was faring, we saw a plethora of vendors come out with ways to leverage technology to get the data and insights needed and get it fast. As per the report, India Corporate Fraud Perception Survey, 80% of corporate India believes fraud will rise in the next two years. Previously, Yves was Business Unit Director ‘Talent Management’ for Hudson BNL where he was involved from a content and management perspective with salary surveys, compensation & benefits, HR strategy, competency and performance management, career counseling, assessments, management development, organisation and change. He has been a consulting partner for 25 years and he has extensive experience in workforce and workplace transformation, work redesign, and human capital issues in global and growth markets. He is adept at shaping operating models and key roles to improve employee experience and productivity, and is a thought leader in organizational culture, learning, and talent development. Mumbai: As most companies saw their employees working from home due to the Covid pandemic, they are worried that this is also set to see a substantial jump in the frauds in next two years, a Deloitte survey said. New possibilities: As they stage the return to work, organizations have an opportunity to push the envelope in the ways they integrate teams of humans and technology. View in article. New Delhi: Even as business productivity has suffered during the coronavirus crisis by reducing revenues and output, individual productivity has increased, according to more than half of the companies surveyed by Deloitte India. '. As the pandemic has put the spotlight on the health and well-being of people, pursuing “, Less than 15% of the industry’s 2019 job postings were data analytics/mathematics majors and less than 1% of jobs offered flexible workplace options. View in article, Digital Watch Observatory, “WTO highlights the implications of COVID-19 on digital divide,” May 5, 2020. Simply select text and choose how to share it: Returning to work in the future of work While initially thought to be a virus that only affected the elderly, people soon learned that others were not invulnerable. Ethics and the future of work: From “could we” to “how should we” The COVID-19 shift: COVID-19 brought ethical issues around employment to the forefront that many may previously have viewed as ivory-tower concerns, putting a spotlight on the impact of organizational decisions on workers’ lives every day. She has over 20 years’ experience in organizational transformation and HR strategies in advisory and operational roles with leading multinationals and state-owned enterprises in China and Asia, in industries such as financial services, real estate, manufacturing, consumer, retail, education, and pension plans. Deloitte experts discuss the impact of COVID-19 on the hospitality and insurance sectors, customer behavior, and how CFOs are weathering the storm in the latest edition of Deloitte’s Middle East Point of View magazine. Heightening employment cyclicality and layoffs are challenging the industry’s reputation as a reliable, long-term employer. The short-cycle nature of shales has made hiring extremely cyclical. Email a customized link that shows your highlighted text. The publication talks about the seven key learnings relevant to the acceleration of 'Future of Work' in India, during these ongoing times of COVID-19 outbreak. Future of Work accelerated: Learnings from the COVID 19 Pandemic. Posted on 22/05/2020 | 0 Comments. Yves is a partner in the Belgian Consulting practice of Deloitte. Individuals and communities responded with empathy and strength. DTTL and each of its member firms are legally separate and independent entities. The report, titled 'Future of Work accelerated: Learnings from the COVID-19 Pandemic' was written after surveying and talking to CXOs of 42 Indian companies. Organizations should evolve their thinking about technology from taking a purely substitution view (replacing humans with technology) to using technology as an augmentation or collaboration strategy. Organizations face a choice between returning to a post-COVID world that is simply an enhanced version of yesterday or building one that is a sustainable version of tomorrow. Hourua Pae Rau (our Māori services team) is working with Māori businesses and Iwi to navigate through COVID-19, facilitating workshops to help people through their COVID-19 challenges. New possibilities: As they stage the return to work, organizations have the opportunity to leverage the power of AI to build a culture of actionable knowledge-sharing and knowledge creation that strengthens organizational connectivity and affords the organization resilience to be able to withstand, and even to thrive in, environments of disruption, uncertainty, and change. Companies have adopted adaptable organisation models to deal with the situation, finds the report ‘Adaptable Organisation: The New Normal by Deloitte. The risk is more than that of falling behind—it’s the possibility of never catching up at all. In April, Deloitte said it would be cutting pay for partners at its British businesses by 20 per cent to protect jobs during the coronavirus crisis. Today we’re starting with the impact of COVID-19 on mental health and the role of insurers… According to Deloitte and Google, the workforce of 2021 will seek to augment its technology toolsets even further. View in article, Nick Kolakowski, “COVID-19 burnout growing among remote workers,” Dice Insights, May 5, 2020; Kevin Smith, “Pandemic fuels burnout among nearly half of U.S. workers,” Orange County Register, April 16, 2020. The COVID-19 shift: COVID-19 put the spotlight on the CHRO and the HR organization, just as the 2008–2009 recession did for the CFO and finance function. The pandemic has put more hours into the working day, creating exhaustion and burnout and simultaneously exposing the stress that many workers face in balancing professional and personal demands, as personal commitments and roles (such as being a parent or caregiver) could no longer be separated from work. Home working has been recommended or enforced and employers have had to implement remote working solutions often without the necessary policies already in place. "COVID-19 has fast-tracked our future of work programme, leading us to review our real estate portfolio," Stephen Griggs, Deloitte's UK managing partner, said in an emailed statement. USING THE FUTURE OF WORK TO GAIN RESILIENCE Companies that have previously embraced future of work practices are likely well positioned to sustain their operations and respond quickly to the demands of navigating COVID-19. Brad Denny, a principal with Deloitte Consulting LLP, leads Deloitte’s US Human Capital practice for the power and utilities industry and coleads the 2019 Global Human Capital Trends report. Please see www.deloitte.com/about to learn more about our global network of member firms. Please see www.deloitte.com/about to learn more about our global network of member firms. 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