The future of work is changing. Will your workforce be ready? | Ernst & Young
There’s no doubt that the future of work is changing.
The world continues to change with developments in globalization, demographics, technology and regulation. These disruptive forces require organizations to change rapidly — and they need their people to be agile and adaptable to that change. At the same time it’s getting harder to source, manage, motivate and retain talent while controlling costs.
By 2020, surplus talent will be limited to a select few emerging economies. This will force businesses to think carefully about longterm talent location strategies. At the same time, the number of people 65 and older is continuing to grow at an unprecedented rate. This shift — in size, age and diversity — will transform the workforce and an organization’s responsibility toward it. These changes will also dramatically impact consumer spending and behavior.
On the flip side, the career span of the younger employee is extending as individuals live longer and healthier lives. Generation X and millennial employees increasingly are looking to their employers to provide meaningful work, in flexible environments and ample opportunities for development.
Technology is transforming the way we do business and impacting how we create, deliver and capture value. What’s more, this process is accelerating with the rise of local, social and mobile technology.
Technology today is improving our ability to, for example, care for the environment, treat disease, improve security, make better sense of data, serve customers, deliver processes, and innovate and grow across the board.
No organization, regardless of size, can compete without responding to this new digital age.
EY can help you prepare for the future of work and your future workforce.
As organizations evolve, so does the need to enable, engage and reward top talent in innovative new ways. Employees who feel in control of the variables in their working world likely will have a heightened commitment to enhancing company results.
Simply put, engaged employees are a competitive advantage driving strong, sustainable results by directly impacting customer behavior, brand loyalty and overall brand reputation.
This evolution also brings change in stakeholder expectations and customers and investors seek deeper reasons to engage.
Organizations must think and act globally, looking beyond their traditional boundaries for top talent, while creating a unifying community that is welcoming and supportive of global workers.
The added challenge of a successful organization is to empower locally, while thinking globally. Global talent strategies and HR programs should be developed to allow for geographic variances in regulatory, economic, market and cultural diversity so that they can source, manage, train and compensate this global workforce.
EY’s People Advisory Services can help you gain a competitive advantage by providing the impactful people, HR and organization alignment at critical business crossroads.
Looking at people as part of an integrated business strategy, organizations are able to gain a competitive workforce advantage. EY works globally to help companies address complex issues relating to organizational transformation or transactions, end-to-end employee life cycles, effective talent deployment and mobility, gaining value from evolving and virtual workforces, and the changing role of HR.
EY’s future of work framework provides a holistic approach to create future business and workforce models for success.
Organizations are facing new market forces that require new ways of operating. EY’s future of work framework offers a holistic model that looks at both the hardware (operating model) and software (operating environment) of an organization to align them for success.
EY provides services to help organizations meet the demands of the future working world.
By focusing on the key operating model and operating environment and issues facing today’s organizations, EY offers services designed to lead companies through complex organization transactions, transformations and, global workforce and mobile talent challenges.
EY’s future of work approach is technology-enabled and data-driven, helping organizations drive transparency, visibility and speed to execution across people priorities.