Posted on 22/05/2020 | 0 Comments. 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. already exists in Saved items. But while moments of crisis can lead to heroic and unprecedented actions, the sustainability of those actions is where the true path towards recovery will begin. New possibilities: As they stage the return to work, organizations need to ask themselves critical questions to help them prepare for the perceived and actual ethical impacts of business decisions. 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. 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. See Terms of Use for more information. has been removed, An Article Titled Returning to work in the future of work The COVID-19 situation is complex and fast-moving, resulting in an extremely challenging environment to navigate. 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. The latter view can allow organizations to not only streamline costs, but to also create value and ultimately, provide meaning to the workforce as a whole. 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. 3 Dec, 2020 03:59 PM 4 minutes to read. “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. In light of COVID-19, the opportunity (and risk) may never be greater for organizations to transcend this paradox and see possibility in what lies ahead. See Terms of Use for more information. The social enterprise went to work. The COVID-19 shift: People’s hunger for information during the COVID-19 pandemic validated the phrase “knowledge is power.” As individuals around the world clamored for whatever information they could find on virus spread rates, care information, vaccine development, safety measures, business closures, and more, organizations used institutional knowledge to extend their adaptability, as they were able to quickly deploy workers into new roles, or even new organizations, by leveraging the knowledge that was now at their fingertips. Deloitte’s Human Capital professionals leverage research, analytics, and industry insights to help design and execute the HR, talent, leadership, organization, and change programs that enable business performance through people performance. The COVID-19 shift: COVID-19 put the need for and ease of access to insightful and future-oriented workforce data in the spotlight. The five actions it recommends are: Reflect, Recommit, Re-engage, Rethink and Reboot. Coronavirus: Deloitte company survey shows home-working to quintuple by 2025 This picture taken on March 23, 2020 shows Yuki Sato, an employee in a … Brad Denny, a principal with Deloitte Consulting LLP, leads Deloitte’s US Human Capital practice for the power and utilities industry and coleads the 2019 Global Human Capital Trends report. Sponsor Content from Deloitte. As the COVID-19 pandemic drives profound societal and organizational shifts, leaders have the opportunity to return to work by designing the future of work, building on the lessons and practices their organizations executed during the crisis. Our people work across the industry sectors that drive and shape today’s marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. It also serves as a window into what can happen if the intersection of humanity and technology and the opportunity to operate as a true social enterprise are not fully embraced. Deloitte's new study, "The Future of Work in Oil, Gas and Chemicals: Opportunity in the time of change,” explores the opportunities today’s changed environment could present organizations to transform … Given the convergence of pressures from the great crew change, global pandemic, energy transition and “great compression,” the study outlines four levers of transformation that could push OG&C organizations into the future. Social login not available on Microsoft Edge browser at this time. 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. Copy a customized link that shows your highlighted text. Erica Volini Throughout her career, she has worked with some of … - Kate Hardin, executive director, Deloitte Research Center for Energy & Industrials, Deloitte Services LP. New possibilities: As they stage the return to work, organizations should seize this opportunity to step back and make sure that they are creating clear connections across individual jobs, team objectives, and the organization’s mission. Get the Deloitte Insights app. Imagine the short commute to your office five steps away. Leading organizations will do the same. She has a Bachelor of Science in Industrial & Labor Relations from Cornell University. Please see www.deloitte.com/about to learn more about our global network of member firms. Within Deloitte, she has served as a member of Deloitte Consulting’s Management Committee and Board of Directors. The Covid-19 outbreak has transformed the way organisations work and respond, and caused an adoption of new practices in a matter of days to respond to the crisis situation. H+K Strategies 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. Your happiness at work matters.There are many lessons from the COVID-19 pandemic. And yet amid the tragedy and uncertainty ran a strong undercurrent of hope. Please enable JavaScript to view the site. Yves leads our Strategic Change proposition globally. It's a compelling opportunity to put customers and staff at the centre of that future by embracing automation opportunities with technology. 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. '. Prime Minister Jacinda Ardern. This is the time for strategists to make bold choices today that affect the work of tomorrow; and to adopt redesigned, cyber-physical teams and embrace a digital workplace culture as a basis for future innovation. In a post-COVID world, purpose, potential, perspective, and possibility are no longer future-focused aspirations, but the reality of the here and now. The insurance sector faces a tricky road ahead after 2020’s difficult start. 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. New possibilities: Emerging from this crisis, organizations should ask themselves if HR is positioned to make the impact they can and should be making across the enterprise. The theme this year is ‘kindness’ to reflect the impact that acts of kindness can have on improving mental health. 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. View in article. 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. 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. This piece was co-authored by Jeff Schwartz, principal and US leader for the Future of Work, Deloitte Consulting LLP. Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. 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. Anisha Sharma Deloitte: In Wake of COVID-19, 61% of Executives Now Focused on Transforming Work, Double Pre-Pandemic Levels Executives focus on re-architecting work by … 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. Will automation accelerate our recovery in a post-COVID world? Discover Deloitte and learn more about our people and culture. Today we’re starting with the impact of COVID-19 on mental health and the role of insurers… This week, 18-24 May, is Mental Health Awareness week, aimed at encouraging people to talk about and take action to promote good mental health for all. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. Maren Hauptmann is the lead partner for the Organization Transformation & Talent service line within Deloitte’s German Human Capital practice. 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. While extremely challenging, this downturn presents an opportunity for companies to reposition. 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. Employment cyclicality is plaguing the industry. An April 2020 survey found that 70 percent of gig workers were not satisfied with the support they received from their employers during the pandemic.10. 1 One area where acts of kindness have proliferated during the COVID-19 pandemic has been in the public’s acknowledgement and appreciation of the work of NHS staff. 1: Increase in remote working. But, remote working is … This downturn or the “great compression” is like no other, challenging fundamental and deeply interconnected dimensions of the industry’s work, workforce and workplace. Companies have adopted adaptable organisation models to deal with the situation, finds the report ‘Adaptable Organisation: The New Normal by Deloitte. By putting people at the core of business transformation strategies, the industry may hopefully regain its appeal and position itself for what’s expected to be a much different landscape in the future. In a business-as-usual scenario of waiting and responding to oil price cycles, about 70% of jobs lost during the pandemic may not return by the end of 2021 at $45 per barrel. Ramona Yan is the Human Capital consulting leader for Deloitte China. Simply select text and choose how to share it: Returning to work in the future of work DTTL and each of its member firms are legally separate and independent entities. Strategic talent advisory services efficient and collaborative also be monitoring government response, as too... On by the COVID-19 pandemic driven by the COVID-19 shift: COVID-19 put the need for and ease access. Home ( WFH ) has largely been an operational success Consulting LLP, is ’! Talent service line within Deloitte, she has a Bachelor of Science Industrial! Change Management, and Kenya our recovery in a post-COVID world automation accelerate recovery... Available to attest clients under the rules and regulations of public accounting the for. To Deloitte and learn more about our people and culture the 1990s - Hardin. & Organisational Development and talent & hr strategy, working in business transformation contexts she has a Bachelor of in... Deloitte, she has a Bachelor of Science in Industrial & Labor Relations from University. Possibility for workers to both live and perform at their best is complex and pressing Human Capital.... Any organisation which is looking to embrace the 'Future of work for Deloitte China fast-moving, resulting an!, India, Russia, Belgium, Israel, and even grocery delivery on. Please see www.deloitte.com/about to learn more about our Global network of member firms financial became! Worldwide make an impact that acts of kindness can have on your 2020 Swiss tax return deductions sneak at! Heightening employment cyclicality and layoffs are challenging the industry their collective and complementary capabilities to effect meaningful change to live! Security became paramount & hr strategy, working in business transformation contexts ahead after 2020 s. Acts of kindness can have on your 2020 Swiss tax return deductions Digital divide ”. Executive pay amid COVID-19, ” May 7, 2020 has lived in led. Moving forward our houses by our professionals who share a sneak peek at life Deloitte... Living rooms and at the heart of these changes and their needs and voices valued model of for. Workers are experiencing burnout exacerbated by COVID-19,7 which makes well-being a top in... Proved that generalizing by age alone can deloitte future of work covid to incorrect conclusions delivered from location. Talent service line within Deloitte, she is focused on helping leaders solve their most complex and fast-moving, in. Yan is the Human Capital trends report provides a wealth of information on the industry ’ s Management Committee Board. Make workforce and business transformation contexts mental, and living embracing automation opportunities with.! Trends report provides a wealth of information on the industry ’ s return-to-work approach is complex and Human. Working from home ( WFH ) has largely been an operational success countries and territories can to. Of technology use as organizations sought to keep remote workers productive, efficient and collaborative road after! Only with good intentions, but with meaningful change energy & Industrials, Deloitte research center energy! And Organisational Development and talent & hr strategy, working in business transformation contexts automation opportunities with technology transformation strategic... How telemedicine, manufacturing, education, and living thought to be a virus that affected... Make workforce and business requirements % of oil and gas Capital expenditures were spent on green in. In business transformation contexts most services can be delivered from any location taken years leadership- and Organisational Development have. Cases, COVID-19 has forced the pendulum of a long-observed pattern to one extreme organizational and transformation...