The Future Of Work: How Can We Adapt To Survive And Thrive?
Last year Deloitte published a report discussing how the world of work is changing rapidly and what organisations and individuals need to think about in order to keep up (Deloitte Access Economics 2015). The research surveyed 1,400 Australian employees asking questions about employment history career and educational requirements and their plans for the future.
The following key findings talk right to the heart of what we are passionate about at TalentCode HR and highlight some of the future requirements Australian businesses need to consider.
Digital disruption continues to make large waves within global economies.
The rate of change seems to be increasing not plateauing as some were thinking. Technology has lowered barriers to entry making the fight for market share more difficult and increasing competition. This together with changing consumer demand is placing pressure on organisations to continually review business models, competitive strategy, strategic vision and planning processes. For example, the largest taxi service in the world, Uber doesn’t own a vehicle, the most valuable retailer, Alibaba has no inventory and AirBNB, the world’s largest accommodation provider owns no real estate!
QUESTION – Do you have an effective and consistent process in place for reviewing your strategic plan, business model and the way forward for your business?
Skilled knowledge workplaces are leading the field in terms of growth.
The report rejects the notion that technology has overcome distance and location as a detractor of the traditional workplace. Rather, the workplace is becoming critical to drive growth and provides necessary interaction of knowledge workers. ‘Cluster Effects’ occur when the productivity of knowledge workers increase at an exponential rate when in close proximity. This leads to increased engagement, creativity and innovation. The survey found that ‘Australian businesses that foster collaboration in their workplaces are found to be over 70% more innovative than those that do not’
QUESTION – Do you have a collaborative culture where workers are held accountable, are highly engaged and produce discretionary effort for your business?
The generational span of workers in Australian businesses is changing
Older and more experienced workers are staying in the workforce longer bringing with them a depth of specialist knowledge in one or two key areas which is lacking in a workforce where the constantly changing work environment requires a generalist approach. As a result, recruiting practices will have to be reviewed as to how to retain, attract and develop a multi-generational workforce especially utilising older workers where tried and tested recruiting practices of the past are no longer appropriate nor effective.
QUESTION– When was the last time you reviewed your recruitment strategy to ensure you have an effective employee value proposition, success criteria for future roles and the in-house capability to know talent when you see it.
If you would like to discuss any of these issues or would like a copy of this report, please call Christopher Simpson – Director of Consulting TalentCode HR on 0414 613 943 or email chris.simpson@talentcodehr.com.au
