The Future of Workplace

FUTURE OF WORKPLACE

Prof.Dr.Aung TunThet

MEGATRENDS

MegatrendsFive global shifts

• Reshaping the world we live

in

• Implications for

organizations, industries and

wider society

• Shape

• Respond

Megatrends • Urbanization

• Climate Change

• Shift in Economic Power

• Demographic Changes

• Digital Revolution

FOUR WORLDS OF WORK

Key Messages • Act now - change already

happening, and accelerating

• No regrets - plan for dynamic,

rather than static future

• Make bigger leap - Don’t be

constrained by starting point

• Own automation debate -

understanding and keen insight

into changing technology

Key Messages • People not jobs - nurture agility,

adaptability and re-skilling

• Build clear narrative – start

mature conversation about

automation

RedWorld

• INNOVATION

RULES

• Organizations and

individuals race to

give consumers what

they want

Red World • Perfect incubator for innovation

• Digital platforms and technology

enable winning ideas

• Allow for specialist and niche

profit-markers to flourish

Red World • Create personalization

• Find new ways to serve niches

• Risks high

Workforces • Innovation and people

inseparable

• Organizations stripped-down and

nimble

• Supplemented by talent attracted

by next promising opportunity

Workforces Red World

• Most sought-after skills mean

biggest reward package

• Like-minded workers gravitate

towards each other

• Spark bubbles of innovation

Workforces • HR does not exist as separate

function

• Entrepreneurial leaders rely on

outsourced services and automation

• Organizations scour to 'acqui-hire'

talent and intellectual property

• Use specialist talent strategists and

AI to identify specialists

Role of technology

• New products and business models

developed at lightning speed,

powered by technology and big data

• Serve niche markets and individual

preferences

• Digital platforms match workers with

employer, innovators with capital,

and consumers with suppliers

Blue World • COPORATE IS

KING

• Big company

capitalism rules

• Global corporates

take center stage

Blue World • “Bigger is better”

• Size and influence protect profit

margins against intense

competition

• Some more powerful and larger

than national economies

• Individual preferences take

precedent over social

responsibility

Workforces • World of extreme talent

• Exceptional people in high

demand

• Core group of pivotal high-

performers offered excellent

rewards

• Bring flexible talent and skills as

and when needed

Workforces • Human effort maximized through

sophisticated use of and

technology

• Push performance to limits

• Workers' performance continually

measured and analyzed enabling

new breed of elite super-workers.

• Corporate career divide ‘haves’

and ‘have-nots’

Role of technology

• Extensive use of automation and

AI enhance productivity and

quality

• Humans still in demand

• Rewards high

• Price workers pay – data

GreenWorld

• COMPANY CARES

• Social

responsibility and

trust dominate

corporate agenda

Green World • Corporate responsibility business

imperative

• Strong social conscience

• Sense of environmental

responsibility

• Focus on diversity, human rights

Green World • Recognition business has impact

well beyond financial

• Workers and consumers demand

organizations do right

• Trust basic currency underpinning

business and employment

• Place societal purpose at heart of

commercial strategy

Workforces • Attracted by opportunity to work

for organization they admire and

values match their own

• Incentives package essential tool

in attracting and retaining workers

• Three weeks' paid leave to work on

charity and social projects

Workforces • Reflect values of employer, both

at work and at home

• HR function renamed ‘People and

Society’ embrace broad mix of

HR, marketing, corporate social

responsibility and data analytics

• ‘Job for life’

Role of technology

• Automation and technology

essential elements to protect

scarce resources and minimize

environmental damage.

• Technology double edged sword:

allow organizations to meet their

ethical and environmental

agenda

• But at what cost to humans?

YellowWorld

• HUMANS COME

FIRST

• Social first

• Community and

business prosper

Yellow World • Workers and companies seek out

greater meaning and relevance in

what they do

• Social-first and community

businesses find greatest success and

prosper

• Crowdfunded capital flows towards

ethical and blameless brands

Yellow World • Workers and consumers search for

meaning and relevance from

organizations, ones with social heart

• Artisans, makers and ‘new Worker

Guilds’ thrive

• Humanness highly valued

Workforces • Like-minded workers gravitate

towards each other aided by

technology platforms

• Collaboration key

• Guilds help workers create scale

when needed

• Provide members with strong

sense of identity

Workforces • Workers identify with each other

because of particular skills set,

interests and goals

• Non-financial rewards assessed

fairly in trade-off for less pay

• Work fluid concept

• Regimented 9 to 5, Monday to

Friday working week rare

Role of technology

• Lower barriers to entry

• Providing access to crowdfunded

capital and worldwide market

• Entrepreneurial companies

compete in areas previously

dominated by large organizations

Role of technology

• Conflicts remain around use of

technology

• Disaffection and push-back

against policies that favour elite

grow

TALENT CHALLENGE: HARNESSING POWER OF HUMAN SKILLS IN MACHINE AGE

In age of the machine, people matter more than ever

• Right mix of people and machines

in workplace

• Critical talent question


• Relentless march of automation

transform role of people at work

• Different skills needed

• Some roles disappear and others

evolve


• Some organizations need fewer

people

• Others need more

• Rebalancing of human capital as

organizations adjust

• Wide-ranging consequences for

HR

Playing catch-up with human capital

• Willingness to recruit more

workers

• Rebalancing workforce

• Focus on strengthening

innovation, digital and technology

capabilities

• Capitalize on new opportunities

to support skills and investment.

Talent Strategy • Complex, risky and difficult to

get right

• Reflect skills and employment

structures for the future

• Improve access to talent

• Attract the people they need

Challenging times for HR

• Finding new and innovative ways

of accessing talent market

• Using full range of HR expertise

and tools to identify skills gaps,

anticipate needs, spot potential

and build workforce for future

Five Essentials 1. Plan for multiple futures - in

detail

2. Prepare for recruitment

challenge

3. Work on soft skills

4. Get people experience right

5. Work on trust - with purpose

THANK YOU!

The Future of Workplace

Business