The future world of work has been one of the hottest topics since 2017. However, I personally came across this concept around 2012 when myself and a colleague were tasked by the Executive Committee of my former employer to look into the project called “future world of work” and the impact this has on organizations. After extensive industry research on the topic our recommendations were turned down and we were told that the organization is not ready for such changes. I wonder if organizations will ever be ready for the evolving future world of work.
Our recommendations covered areas such as space optimization, flexible working hours, process automation and we also looked at project based vs permanent employees.
Fast forward to 2018 where the world is talking about artificial intelligence and the gig economy, the world of work has evolved rapidly. I remember when I started working in 2006, we used to capture information on spreadsheets for reporting purposes and now those transactions are automated and one could get desired results within a click of a button. Data is live which enables top management to make instant organizational decisions.
Also, with increased connectivity in the world there will be a rise of flexible working hours instead of fixed hours in the office. I am of the view that organizations should focus more on productivity then a physical body sitting in the office. This could also mean that the organization could lower its overhead expenditure by allowing the flexibility and mobility of its employees to work anywhere they wish. This also brings me to the question of whether employees should be outsourced services or not and if this type of model will work for the future or not. For me, there are some skills which could be outsourced, this could depend on what is core and critical within that organization. Currently we are seeing a lot of organization outsourcing all their non- core and refocusing on the core business.
What does this mean for organizations and its employees today?
In 2018, we must realize that it is not a matter of machine vs human, but rather how human and machine work together to solve the world’s problems. Besides, it is a human that makes those machines and therefore I believe that humans are ultimately the decider of the next course of action. Organizations will have to look at reskilling its employees in order to respond to evolving world of work and also employees need to take an initiative to become multi-skilled. An era where employees are only focused on one part of the job is gone; this new era requires creative thinkers and thought leaders. It also requires people who are ready to shift the mind by being adaptable and agile. The gig and sharing economy is driving a culture of collaborations, transparency and openness. This means that there will be fewer and fewer traditional company hierarchy replaced by project based defined relationships. Digital will also play a critical role in organizations as we have experienced over the years how technology creates new and smarter ways and for shorter hours. Now, the question is…Are you ready for the future world of work?
Share your thoughts with us?
South African organisations find themselves in a war for talent and competing for a shrinking pool of talented workforce. Strategic planning for any business needs to ensure that there is sufficient talent workforce to meet the future business demands. What is also imminent in the ever-changing economy is the retirement of skilled workforce and high staff turnover. People change jobs all the time. It is for this reason why a planned strategic succession planning is imperative.
In today’s aggressive market it is important for organisations to take steps in attracting, developing and retaining of critical employees. There is a perception that succession planning costs a lot more for organisations, however organisations need to come up with creative ways for implementing succession planning. I still believe the cost of implementing strategic succession planning is better than the cost suffered when having none.
Imagine what would happen in an organisation that has no strategic succession planning in place should a CEO/ CFO or any position deemed critical decides to submit a resignation letter? This can create unnecessary panic amongst employees, customers and suppliers and over and above this would mean that a recruitment of a new CEO/CFO would need to be underway. It may take up to 6 months to find a suitable best fitted CEO and recruitment of such critical position costs a lot of money too.
What does strategic succession planning mean for organisation:
Key benefits of strategic succession planning:
Mike Jackson (68), CEO of AutoNation was quoted by Automotive News saying “We have a very robust, professional succession plan in process which the board and I worked on together”. This is after the COO Bill Berman’s abrupt resignation. The question is, does your organisation have succession planning in place should a critical skill resign?