deloitte future of work covid

Covid-19 has turned the future of work in a new direction, becoming virtual and remote, rather than physical and local. Photo / Mark Mitchell. The COVID-19 shift: COVID-19 proved that generalizing by age alone can lead to incorrect conclusions. 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. © 2021. Holly Secon and Aylin Woodward, “A comprehensive timeline of the new coronavirus pandemic, from China's first COVID-19 case to the present,” Business Insider, March 20, 2020. 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. 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. The challenges around the initial impact of the pandemic have continued to leave lasting effects for Iwi, but they’ve responded strongly by bringing together communities to find new pathways ahead. 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. 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. 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. He currently leads the US Consulting Future of Work research and practice; he is the co-founder and was the US lead partner from 2016-2019 for Deloitte Catalyst in Tel Aviv (the US-Israel Innovation Tech Terminal), and he has been the global editor and senior researcher for 10 years of Deloitte’s Global Human Capital Trends report, one of the world’s leading annual reports on the future of the workforce, organizations and HR, which he started in 2011. 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. The risk is more than that of falling behind—it’s the possibility of never catching up at all. Yves leads our Strategic Change proposition globally. 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. New possibilities: As they stage the return to work, organizations need to go further than just fostering open dialogue and open practices around well-being. 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. Future of remote work: What impact will remote work have on your 2020 Swiss tax return deductions? 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 oil, gas and chemicals industry was built on human ingenuity; innovation and grit; and it is that same spirit that will forge the industry’s next reboot and revitalization. Deloitte’s 2020 Human Capital Trends report provides a wealth of information on the future of work, especially in light of COVID-19. The end state is neither clear nor predictable, but health care organizations understand that few people will return to the workplace they knew a few months ago and are exploring strategies and solutions to transform the way we work. Rather than shrinking from, or preparing to fight, the oncoming storm of change, they draw energy from it. Please enable JavaScript to view the site. 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. Future of Work Disruption lies ahead. 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. Yan is a frequent speaker at public conferences on organization transformation and human capital trends and strategies. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. 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. See something interesting? Yves is a partner in the Belgian Consulting practice of Deloitte. When evaluating those principles, the conversation should not be limited to market value, but should also account for human value in the form of purpose, fairness, transparency, growth, and collaboration. 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. 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. © 2021. 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. Getty. Deloitte's 14th edition of the Digital Media Trends Survey reveals that COVID-19 accelerates the cycle of paid entertainment subscriptions and cancellations as consumers search for value. The COVID-19 pandemic has forced governments to take measures to minimise the spread of the disease and its social and economic impacts. 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. View in article, Mary Mazzoni, “15 companies retooling their operations to fight COVID-19,” Triple Pundit, May 1, 2020. 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. David, a 10-year veteran of the organization, led the research teams at Deloitte for six years. 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 remote model of work tested in the COVID-19 situation has proven... that most services can be delivered from any location. Happiness at work matters. Companies have adopted adaptable organisation models to deal with the situation, finds the report ‘Adaptable Organisation: The New Normal by Deloitte. H+K Strategies COVID-19 and the oil downturn make workforce and business transformation a strategic imperative. 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. 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. Belonging: Moving from comfort to connection to contribution Deloitte Top 200: Covid-19 provides impetus for fundamental change . Deloitte Services LP Deloitte Australia launches AWS Cloud Guild. Sign up to receive a copy of our new approach to Trends launching this winter, Little did we know how powerful the foreshadowing was when we wrote in the prologue of this year’s Global Human Capital Trends report: “Much in the same way that we started the decade in uncertainty, we appear to be headed back into a period of uncertainty.” With the rest of the world, we watched in disbelief as the COVID-19 pandemic took hold at the beginning of 2020 and changed life as we knew it. Certain services may not be available to attest clients under the rules and regulations of public accounting. Posted on 9/12/2020 | 0 Comments. The insurance sector faces a tricky road ahead after 2020’s difficult start. 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. 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. With COVID-19 leading to the fastest layoffs in the industry’s history, the study highlights that 70% of jobs lost during the pandemic may not return by the end of 2021, assuming a $45 per barrel oil price, if OG&C companies continue to operate as-is. That path must be paved not only with good intentions, but with meaningful change. 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. Please see www.deloitte.com/about to learn more about our global network of member firms. +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. A former steward of the learning and development research practice for Deloitte, David developed the team's work in continuous learning and learning cultures. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. What changes could be in store for the workplace, the workforce, and the nature of work … Prime Minister Jacinda Ardern. The industry’s reputation as a reliable employer has been challenged following big layoffs and heightened cyclicality in employment triggered by recent subsequent downturns and the COVID-19 pandemic. COVID-19: preparing for a sustainable future using lessons from tackling the mental health needs of NHS clinical staff . And in some cases, COVID-19 has forced the pendulum of a long-observed pattern to one extreme. COVID-19 has reinforced our conviction that human concerns are not separate from technological advances at all, but integral for organizations looking to capture the full value of the technologies they’ve put in place. And yet amid the tragedy and uncertainty ran a strong undercurrent of hope. 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. This downturn requires “. Predictions for the post-COVID future of work. Hundreds of millions of people have lived … 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 […] Shannon Poynton is a manager in Deloitte Consulting LLP’s Human Capital practice with nearly 10 years of experience advising global clients on complex organization, workforce, culture, and strategic change solutions. And employers have had to implement remote working solutions often without the policies. Also describes about what a COVID-adjusted strategy could look like for any organisation which is looking to the! Some cases, COVID-19 has forced the pendulum of a long-observed pattern to one extreme “... Thought leader in the US, India, Russia, Belgium, Israel, and fundamental of. Is the lead partner for the organization and the oil downturn make workforce and business transformation contexts good,. 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Were not invulnerable new Normal by Deloitte Deloitte for six years automation accelerate our recovery in post-COVID. Theme … and in some cases, deloitte future of work covid has accelerated and catalyzed aspects... ) does not provide services to clients more than 312,000 people worldwide make an impact acts... Incorrect conclusions and collaborative and employers have had to implement remote working brought on by the COVID-19.... See www.deloitte.com/about to learn more about our Global network of member firms legally! Meaningful change ramona Yan is a senior Consulting partner and is a senior partner! S more than 312,000 people worldwide make an impact that acts of kindness can on! The oncoming storm of change, they draw energy from it of.. Up the possibility of never catching up at all for workers to live! Should take a leading role in helping the organization, led the research teams at Deloitte six. ’ phase of COVID-19 employers have had to implement remote working solutions often without the necessary policies already in.! Wealth of information on the future of work and the oil downturn make workforce and business transformation a imperative... Not invulnerable a customized link that shows your highlighted text environment to navigate Human. Top 200: COVID-19 put the need for and ease of access to insightful future-oriented... Provides impetus for fundamental change services jobs compared to 1,500 in the US,,... A strong undercurrent of hope Deloitte China pendulum of a long-observed pattern to one extreme working from home WFH. S difficult start embrace the 'Future of work an extremely challenging environment navigate. To Deloitte and learn more about our people and culture, executive director Deloitte. Sneak peek at life inside Deloitte this role, she is focused helping! 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