He is specialised in Leadership & Organisational Development and Talent & HR Strategy, working in business transformation contexts. As per the report, India Corporate Fraud Perception Survey, 80% of corporate India believes fraud will rise in the next two years. 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. Get the Deloitte Insights app. 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. The COVID-19 pandemic sparked an expansion of technology use as organizations sought to keep remote workers productive, efficient and collaborative. Leading organizations will do the same. The COVID-19 shift: COVID-19 proved that generalizing by age alone can lead to incorrect conclusions. 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. Public Relations But as new technologies and digital transformations dominated conversations in boardrooms, human concerns were considered separate from, if not directly in conflict with, technological advances. 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 . A former steward of the learning and development research practice for Deloitte, David developed the team's work in continuous learning and learning cultures. Future of Work Disruption lies ahead. 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. Embracing purpose, potential, perspective, and possibility during COVID-19, Remaining human in a technology-driven world, Embracing possibility: Returning to work in the future of work, New possibilities arising from the COVID-19 crisis. Through this crisis, the world has had the opportunity to see the resilience and adaptability of the workforce as workers quickly assumed new roles and even contributed to opportunities in different fields and industries. 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. We chose two specific areas of the report and asked Deloitte’s Global Human Capital Leader, Erica Volini, to provide insight on them. Copy a customized link that shows your highlighted text. Deloitte Top 200: Covid-19 provides impetus for fundamental change . Deloitte’s 2020 Human Capital Trends report provides a wealth of information on the future of work, especially in light of COVID-19. 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. The social enterprise went to work. Alex Rankin, in his article The pandemic playbook, looks at insights into the levers utilized by CFOs as they respond to COVID-19 and subsequently […] Within Deloitte, she has served as a member of Deloitte Consulting’s Management Committee and Board of Directors. The digital transformation of work has finally arrived. already exists in Saved items. View in article, International Labor Organization, “As job losses escalate, nearly half of global workforce at risk of losing livelihoods,” press release, April 29, 2020. 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. DTTL and each of its member firms are legally separate and independent entities. 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. A recent Gartner poll showed that 48% of employees will likely work remotely at least part of the time after COVID-19 versus 30% before the pandemic. In addition to co-authoring the report, Poynton was Global Human Capital Trends’ 2020 program manager and coordinated the design and delivery of this year’s survey and report. Posted on 22/05/2020 | 0 Comments. 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. The risk is more than that of falling behind—it’s the possibility of never catching up at all. 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. 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. 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. to receive more business insights, analysis, and perspectives from Deloitte Insights, Telecommunications, Media & Entertainment, Belonging: From comfort to connection to contribution, Designing work for well-being: Living and performing at your best, The post-generational workforce: From millennials to perennials, Knowledge management: Creating context for a connected world, Beyond reskilling: Investing in resilience for uncertain futures, The compensation conundrum: Principles for a more human approach, Governing workforce strategies: New questions for better results, Ethics and the future of work: From “could we” to “how should we”, A memo to HR: Expand focus and extend influence, A comprehensive timeline of the new coronavirus pandemic, from China's first COVID-19 case to the present, As job losses escalate, nearly half of global workforce at risk of losing livelihoods, WTO highlights the implications of COVID-19 on digital divide, Thomas Friedman on human interaction in the digital age, 15 companies retooling their operations to fight COVID-19, COVID-19 burnout growing among remote workers, Pandemic fuels burnout among nearly half of U.S. workers, Trudeau announces wage top-ups for front-line workers, but details unclear, Companies adjust executive pay amid COVID-19, Gig workers among the hardest hit by coronavirus pandemic, evoliniglobalhumancapitalleader@deloitte.com. 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. About Deloitte: 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. Posted on 9/12/2020 | 0 Comments. Connect with us on Twitter at @Deloitte4Energy or on LinkedIn at Duane Dickson and Kate Hardin. Social login not available on Microsoft Edge browser at this time. '. 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. New possibilities: As they stage the return to work, organizations should consider how to encourage and offer opportunities for workers to continue to grow and adapt based on their potential, rather than solely on their existing skills or certifications. 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. In those where it was, the crisis highlighted the digital divide within countries, across regions, and in rural communities and urban digital deserts.4 In those where the technology has been available, one of the biggest barriers was the difficulty of building models to integrate humans with those technologies: to create new habits and management practices for how people adapt, behave, and work in partnership with the technology available to them; to fulfill distinctly human needs such as the desire for meaning, connection, and well-being at work; to maximize worker potential through the cultivation of capabilities; and to safeguard ethical values. Steve Hatfield is a Principal with Deloitte Consulting and serves as the Global Leader for Future of Work for Deloitte. 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. This consideration is especially important as it relates to organizations’ use and treatment of the alternative workforce, particularly in industries that rely heavily on the gig economy. Getty. Email a customized link that shows your highlighted text. This downturn is like no other and will have profound impacts on the industry. And in some cases, COVID-19 has forced the pendulum of a long-observed pattern to one extreme. 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. Predictions for the post-COVID future of work. Discover Deloitte and learn more about our people and culture. 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. It's a compelling opportunity to put customers and staff at the centre of that future by embracing automation opportunities with technology. View in article. New possibilities: As they stage the return to work, organizations should take advantage of the power of technology to collect workforce insights by pulling together the key questions that they need to be asking to gain the real-time workforce insights they need. These ethical implications extend to many segments of the workforce, but were particularly evident in the experience of the alternative workforce, some of whom faced decreased demand and related financial concerns, or increased demand and related safety concerns. Public Relations Predicting the future of work is always tricky, and the COVID-19 pandemic has made any type of prognosis even more difficult. He has authored and contributed to more than 40 articles for the Wall Street Journal, the Deloitte Review, the MIT Sloan Management Review, the Rotman Management Review (at the University of Toronto), and Wired Magazine. 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. Photo / Mark Mitchell. Organizations, despite many staring down the barrel of layoffs, furloughs, and shutdowns, took fast action to protect their workers’ health and safety, establish essential services, and deploy workforce strategies to support workers in real time. 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. The theme this year is ‘kindness’ to reflect the impact that acts of kindness can have on improving mental health. 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. At the start of 2020, no one predicted a novel coronavirus would disrupt global supply chains, lead thousands of organizations to close their office space, and have countless employees work remotely for the first time. Sponsor Content from Deloitte. The remote model of work tested in the COVID-19 situation has proven... that most services can be delivered from any location. Yves is a partner in the Belgian Consulting practice of Deloitte. +1 713 752 1901, Duane Dickson is a vice chairman and principal in Deloitte LLP’s Energy Resources & Industrials industry group, as well as the US Oil, Gas & Chemicals sector leader and the Global Energy, Resources & ... More, As executive director for the Deloitte Research Center for Energy & Industrials, Deloitte Services LP, Kate works closely with Deloitte’s Energy, Resources & Industrials (ER&I) leadership to drive ene... More, Navigating the great compression in shale oil production, Exploring oil and gas and chemical sector trends and the impact of COVID-19. Certain services may not be available to attest clients under the rules and regulations of public accounting. And ecosystems banded together to leverage their collective and complementary capabilities to effect meaningful change. The COVID-19 shift: COVID-19 put the need for and ease of access to insightful and future-oriented workforce data in the spotlight. 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. 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. "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. The COVID-19 shift: COVID-19 reinforced that it is more important to understand what workers are capable of doing than understanding what they have done before. The recovery from the COVID-19 pandemic, given the human dimension of urgent workforce challenges and the uncertainties facing business leaders, requires workforce strategies which focus on both short-term recovery priority actions—reflect, recommit, re-engage, rethink, and reboot—and reaching for the future and a new normal—integrating the attributes of purpose, potential, and perspective. Future of remote work: What impact will remote work have on your 2020 Swiss tax return deductions? 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. As Covid has proven article, Equilar, “ WTO highlights the implications of COVID-19 now as Covid proven! See www.deloitte.com/about to learn more about our people and culture connect with on... 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