Intensifying economic, social, and political disruption is forcing organisations to move beyond mission statements and social impact programmes, to putting humans at the centre of their business strategies and learning to lead the social enterprise.
This is according to Deloitte’s latest Human Capital Trends report for South Africa, which comes with a bold call to action for organisations to reinvent the social enterprise.
A social enterprise is an organisation whose mission combines revenue growth and profit-making with the need to respect and support its environment and stakeholder network.
This includes listening to, investing in, and actively managing the trends that are shaping today’s world.
The global report draws on insights from over 9,000 global survey respondents, including 345 respondents from South Africa, and examines ways in which organisations can drive the reinvention of the workforce, the organisation, and HR on a broad scale, and change every aspect of how they interact with, motivate, and create meaningful experiences for their workforce.
10 human capital trends
Deloitte has organised the 10 human capital trends for reinvention of 2019 into three actionable categories, which are outlined below.
The future of the workforce
This deals with how organisations should adapt to the forces restructuring job and work design, the open talent economy, and leadership.
- The alternative workforce. It’s now mainstream. For organisations that want to grow and access critical skills, alternative forms of employment have become critical. Companies have to move beyond “managing” contractors and freelancers to “optimising” and “leveraging” the alternative workforce deliberately and well.
- From jobs to superjobs. Paradoxically, to take full advantage of technology, organisations must redesign jobs to find the human dimension of work. This will create “superjobs” that combine parts of traditional jobs into integrated roles that leverage the significant productivity and efficiency gains possible when people work with technology.
- Leadership for the 21st century: The intersection of the traditional and the new. Leaders must take a nuanced approach to pursuing traditional business goals, taking into account the new context for such goals and drawing on critical new competencies, including leading through change, embracing ambiguity and uncertainty, and understanding digital, cognitive, and AI-driven technologies.
The future of the organisation
The second category deals with how teams, networks, and new approaches to rewards are driving business performance.
- From employee experience to human experience: Putting meaning back into work. There is opportunity for employers to refresh and expand the concept of “employee experience” to address the “human experience” at work — building on an understanding of worker aspirations to connect work back to the impact it has not only on the organisation, but also on society as a whole.
- Organisational performance: It’s a team sport. The shift from hierarchies to teams is well underway. Yet most have not yet refreshed leadership, job design, and rewards to adapt. In 2019 technology is making team models of work easier; other talent practices must now be refreshed to keep up.
- Rewards: Closing the gap. Organisations are exploring a dizzying array of perks and rewards to motivate their people, but they are not keeping up. A focus on building relationships with workers —and eschewing external benchmarking in favour of curating a differentiated suite of rewards — can help organisations close the gap.
The future of HR
The third category deals with how the HR function is stepping up to the challenge of redesigning its capabilities, technologies, and focus to leading transformation in HR and across the enterprise.
- Accessing talent: It’s more than acquisition. As the job market remains competitive and skills requirements undergo rapid change, it’s time for organisations to think about how they can continuously “access talent.” Some of the strategies are: mobilising internal resources, finding people in the alternative workforce, and strategically leveraging technology to augment sourcing and boost recruiting productivity.
- Learning in the flow of life. Learning is becoming more integrated with work and more personal, and it is shifting — slowly — towards lifelong models. Effective reinvention along these lines requires a culture of continuous learning, incentives that motivate people to learn, and a focus on helping individuals identify and develop new, needed skills.
- Talent mobility: Winning the war on the home front. Organisations can no longer expect to source and hire enough people with all the capabilities they need; they must move and develop people internally to thrive. A new set of norms governing internal mobility is needed to do this well.
- HR cloud: A launch pad, not a destination. Cloud systems have gone a long way towards integrating the messy back office of HR. But to better support innovation, raise employee productivity, and lower cost, organisations must rethink their HR technology strategy, considering cloud as a foundation and complementing it with new platforms, automation, and AI-based systems.
While technology is helping organisations to gain a competitive advantage, if not managed appropriately, it can simultaneously mean that workers lose their identity in the workplace.
To bring meaning back into the workplace and a human identity back to the worker, it is clear that traditional human capital programmes, processes and policies should be fundamentally reinvented.
However, reinvention can be a daunting prospect. In fact, Deloitte’s survey shows that many organisations are not ready to address the changes in the ten trends described above.
For that reason, Deloitte have focused not only on the why and the what, but also how organisations can go about reinventing themselves.
According to Deloitte, depending on your organisation’s readiness and need to change, reinvention can happen in one of three ways:
- You can refresh – update and improve the way you work now,
- You can rewire – create new connections that change the way you work, or
- You can recode – start over and redesign from scratch.
To find out more read the full report, downloadable from the right side of this page of the Deloitte website.
This article was published in partnership with Deloitte.