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1 H E A L T H W E A L T H C A R E E R L E A D I N G T H R O U G H D I S R U P T I O N W E B I N A R : B U I L D I N G A H U M A N - C E N T E R E D T E C H N O L O G Y T A L E N T M O D E L

2 W E L C O M E! T O D A Y S S P E A K E R S Sheela Sukumaran Global Technology Industry Leader T H A N K S F O R J O I N I N G U S! Julie van Waveren North America Career Leader, Multinational Client Group 1

3 W H O W E A R E A G L O B A L F O R C E O F M O R E T H A N 2 3, I N D I V I D U A L S U N I T E D B Y A S I N G L E I D E A : M A K I N G A D I F F E R E N C E I N T H E H E A L T H, W E A L T H A N D C A R E E R S O F M I L L I O N P E O P L E E V E R Y D A Y H E ALT H C AR E E R W E ALT H 2

4 E X P E R I E N C E A C R O S S T H E T E C H N O L O G Y S E C T O R 3

5 01 02 Leading Through Disruption Intro Your Organization s Innovation Outlook Building Tomorrow s Tech Talent Model Agenda for Transformation 4

6 1. T H E T E C H I N D U S T R Y I S I N T H E M I D S T O F D I S R U P T I V E C H A N G E THREE FORCES OF DISRUPTION 1 EXPONENTIAL TECHNOLOGIES 2 PERVASIVE DIGITIZATION 3 SPEED@ SCALE These disruptive forces, combined with intense competition, are challenging traditional views and success measures of Technology markets 5

7 1. E V O L V I N G O U R A P P R O A C H & T H I N K I N G Market & Industry Events Strategy Sessions with Leadership Teams in Tech Leading through disruption is about knowing where the industry is going, how business is evolving, and innovating to deliver a disruption-ready people strategy External/Partner Research Mercer s Tech Industry Publications & Research 6

8 1. L E A D I N G T H R O U G H D I S R U P T I O N I N N O V A T I O N I S K E Y T O A T H R I V I N G O R G A N I Z A T I O N CB Insight s 2018 State of Innovation report showed high-performing companies.invest more in disruptive projects than low performing companies. are 5X more likely to build a culture of innovation across every business function. have 2.7X more effective idea generation than low performing companies. Leading Through Disruption in the Fourth Industrial Revolution How do we innovate for tomorrow? TODA Y FORCES OF DISRUPTION Exponential Technologies Pervasive Digitization Speed@Scale WORKPLACE SHIFTS Unbundling of jobs Higher cognitive complexity New work, new skills LEADING THROUGH DISRUPTION Sustained business growth Customers for life Top place to work 7

9 01 02 Leading Through Disruption Intro Your Organization s Innovation Outlook Building Tomorrow s Tech Talent Model Agenda for Transformation 8

10 2. W H E R E T O S T A R T Y O U R J O U R N E Y? D E P E N D S O N Y O U R O R G A N I Z A T I O N A L C O N T E X T Organizations have unique business challenges. Workforce, culture capabilities & competencies vary. Leadership & organization appetite for innovation. 9

11 2. W H Y D O E S T H I S M A T T E R? I T D E F I N E S Y O U R S T A R T I N G P O I N T Focus on innovation to drive exponential growth. Build and evolve new technologies Often play in diverse industries ACCELERATORS Focus on competitiveness, encouraging your innovative spirit. Have a large market presence Are challenged by new entrants Placed big bets on innovation to compete Focus on operational efficiencies which can slow innovation. Often selectively invest in innovation in order to remedy pain points and maximize efficiencies Do not have a unified approach for the firm Focus on survival, margins trump innovation. Are challenged for growth because their industry segment or business growth is contracting or has been flat in the recent past. 10

12 2. H E R E S W H A T T O D A Y S A T T E N D E E S S H A R E D A B O U T T H E I R O R G A N I Z A T I O N OPTIMIZERS PRAGMATISTS ACCELERATORS DISRUPTORS 12% 48% 32% 8% Rewards Culture Leadership Culture Culture Leadership Digital Workplace Digital Workplace Digital Workplace People Processes People Processes People Processes Workforce Rewards Culture Leadership Leadership Digital Workplace Workforce Workforce People Processes Workforce Rewards Rewards Most companies in this category are making notable progress in this area. Some companies in this category are making progress in this area and/or there are opportunities for improvement. Companies in this category are making little progress in this area and/or there are significant opportunities for improvement. 11

13 01 02 Leading Through Disruption Intro Your Organization s Innovation Outlook Building Tomorrow s Tech Talent Model Agenda for Transformation 12

14 3. T H E T E C H N O L O G Y W O R K F O R C E W I L L L O O K R A D I C A L L Y D I F F E R E N T I N 5 Y E A R S SIGNIFICANTLY FEWER EMPLOYEES ON-DEMAND WORKFORCE DIFFERENT SKILLS PROFILE Representative Technology Employer The impact of automation The impact of on-demand workforce The need to up-skill 35 50% of total Current FTE demand Demand reduction due to digital agenda Future FTE demand FTE that can be sourced from external talent pools Future FTE demand for internal workforce Existing internal FTE requiring reskilling Existing internal FTE with minimal reskill required Source: Mercer Analysis 13

15 3. T H E N E W T E C H N O L O G Y T A L E N T M O D E L T O S U P P O R T T H E F U T U R E O F W O R K Externally Determined Labor Market Rise of the Talent Ecosystem Continuous Evolution of Human Skills A New Concept on Career Strong variability in talent availability & portability Drive for consistent employment practices across markets to create a unified experience Digital platforms have transformed the technology talent model Enable on demand contingent workers in a range of areas (engineers, AI, software development) Ability to learn continuously, ondemand and through direct practice of new tasks and technologies Redeployment to new roles Organizations are flatter and less hierarchical, making upward progression less common A shift in individualized career progression and cross-functional experiences 14

16 Poll Question #1 In which of these areas are you least prepared for? A. B. C. R i se of the talent e cosystem Continuous e volution of skills Integrating t h e new concepts of care e r D. We are behind t h e cur ve in a l l thre e a re a s 15

17 01 02 Leading Through Disruption Intro Your Organization s Innovation Outlook Building Tomorrow s Tech Talent Model Agenda for Transformation 16

18 4. A G E N D A F O R T R A N S F O R M A T I O N F O C U S A R E A S I II III HR S ROLE: COMPETIVE ADVANTAGE THROUGH PEOPLE BUILD TOMORROW S WORKFORCE FOSTER AN INNOVATION-CENTERED ORGANIZATION How will HR partner with leaders to translate business priorities into people strategies? How can HR prepare for the future of work? What barriers must be addressed and what levers should you pull? ¹ The Future of Jobs Report by The World Economic Forum, page 6 17

19 Poll Question #2 What is your greatest challenge to build and deliver a people strategy? A. B. C. D. T h e business doesn t p r i o r i t i z e working with HR on this. We get over w h e l m e d b y more immediate t a ctical priorities. We don t have a pro cess or capa b i l i t i e s i n HR to do this we ll. We have cultural ba r r i e r s p re venting u s to move f o r w a rd. 18

20 4. A G E N D A F O R T R A N S F O R M A T I O N C O N S I D E R A T I O N S I HR S ROLE: COMPETIVE ADVANTAGE THROUGH PEOPLE Workforce Futurist II Employee Lifecycle Experience Product Manager, Human Performance COO of the Talent Supply Chain II BUILD TOMORROW S WORKFORCE D i g i t a l t o o l s f o r i n t e r n a l g i g - e c o n o m y C r o s s - f u n c t i o n a l e x p e r i e n c e s I n d i v i d u a l i z e d C a r e e r M a n a g e m e n t Pe e r - l e d, c u r a t e d, a n d on- d e m a n d l e a r n i n g III FOSTER AN INNOVATION- CENTERED ORGANIZATION W H AT T H E M O S T D I S R U P T I V E C O M PA N I E S A R E D O I N G TO F O S T E R A C U LT U R E O F I N N O VAT I O N 19

21 4. B U I L D I N G A N I N N O V A T I O N - C E N T E R E D O R G A N I Z A T I O N FIVE DISTINCT DIFFENTIATORS Purpose-driven vision and a culture that rewards innovation, engagement, collaboration, speed and comfort with failure People workflows and metrics that are flexible and scale learning across the enterprise, and are designed with shorter feedback loop cycles Workplace built on intelligent applications and innovative practices, which allow for autonomy, experimentation and human-machine collaboration Organization design that moves tasks and decisions closest to information, reduces internal friction and enables cross-functional collaboration and risk-taking Workforce skills and capabilities that enable tomorrow s workforce to operate in the augmented and human-in-the-loop future 20

22 4. D E V E L O P I N G Y O U R D I S R U P T I O N J O U R N E Y OPTIMIZERS Path to Readiness Workforce State and Impact Innovation Drivers Workforce is stable but there may have been recent reductions in the workforce, causing morale challenges Workplace technology including HRIS is dated and fragmented, causing data silos, reporting challenges, manual touches and process inefficiencies There are significant challenges retaining and attracting top talent Significant focus on cost containment and value Culture is insular; new ideas and approaches need to be extensively socialized and tailored to be accepted Business input on potential growth drivers and the workforce roles and skills needed to reinvent future growth Innovation hubs, digital centers and on-demand talent pilots to develop new organization and people muscle at the edges Workforce analytics to make people cost/roi more visible and rigorous--external labor options, outcome drivers Radical workforce restructuring to raise skills and performance, especially reinforced with new reward structures Create cross-functional career paths to develop a broader skill base among current employees S O L U T I O N S Metrics & Incentives Culture Transformation HR Roadmap Employee Experience Re-skilling / job architecture 21

23 4. D E V E L O P I N G Y O U R D I S R U P T I O N J O U R N E Y PRAGMATISTS Path to Readiness Workforce State and Impact Innovation Drivers Workforce is stable in terms of engagement, retention and structure, but slowly falling behind in skills Workforce is resistant to change because of past business successes, risk aversion and past failed initiatives Overall recognition that workforce lacks broad digital capabilities but conservative in adopting new technologies or processes Lack of innovation budgets or in-house capabilities to build innovative solutions Invest in edge innovations through business function transformations, and identify other use cases they can be leveraged for (e.g. digital assistants for customer service) Leapfrog innovation by placing small bets on new technology Solve current challenges by leveraging technology interns/hackathons or funding crowdsourced competitions Segment stakeholders by response to technology, and drive targeted adoption actions Redesign metrics and incentive structures for teams tasked with innovation or new businesses to ensure existing riskreward tradeoffs do not choke innovation S O L U T I O N S Employee Engagement HR Tech/Digital Strategy Change Management Total Rewards HR Roadmap 22

24 4. D E V E L O P I N G Y O U R D I S R U P T I O N J O U R N E Y ACCELERATORS Path to Readiness Workforce State and Impact Innovation Drivers Workforce skills are still highly competitive but may be limited in driving innovation due to organization complexity Change fatigue in the organization, often arising from too many initiatives or programs that do not fully address people experience Next generation business vision is not fully operationalized in structures and roles that can deliver it; must also maintain successful core business Employee value proposition for legacy workforce isn t working for more recently hired workforce Build local change management capability in the key markets and business functions, in order to run high touch programs that lead with people experience across initiatives Review people processes, policy, governance and metrics (local & global) to foster innovation and a more agile, digitally enabled employee experience Update employee value proposition and the career and rewards programs to fit future business vision Refresh Manager and Leader roles, to engage and develop them in fostering the target culture and employee experience S O L U T I O N S Change Management Employee Value Proposition HR Operating Model & Govern. 23

25 4. D E V E L O P I N G Y O U R D I S R U P T I O N J O U R N E Y DISRUPTORS Path to Consolidation Workforce State and Impact Innovation Drivers Hyper-growth presents challenges scaling globally while retaining the entrepreneurial culture Quickly integrating and ramping up new companies, capabilities, and leaders through acquisition/inorganic growth Leaders and professionals promoted quickly into roles they may not be fully prepared for Workforce is increasingly diverse, driving new and unique needs across employee segments Implementing global best practices while still respecting local nuances and business complexity Evolve the culture to encourage diversity in the workforce Integrate employee and non-employee workforce into a shared talent ecosystem Disruptors often have a smaller ratio of managers and leaders in order to encourage autonomy for individual contributors. Develop loose structures and guardrails to codify practices and allow for consistency in people programs and initiatives Embed digital HR tools and processes into employee experience Ensure consistent philosophy for career levels and rewards even as fast growth and acquisitions require flexibility S O L U T I O N S M&A Change Management Employee Value Proposition Onboarding D&I 24

26 I F W E L E F T Y O U W I T H T H R E E M E S S A G E S, T H E Y W O U L D B E BUSINESS & HR NEED NEW TOOLS FOR TOMORROW S CHALLENGES BASELINE YOUR CURRENT STATE TO MOVE THE RIGHT LEVERS FOR CHANGE TALENT ECOSYSTEMS ARE THE FUTURE BE PREPARED! Leading Through Disruption 25

27 Thank you for attending! Share your feedback with us. In the next day, you will receive a brief survey about today s webinar. Once you complete the survey, we will send: Our latest paper Webinar recording Webinar presentation Questions? Please reach out to us with any questions or if you are interested in learning more. Paper is available here: Julie van Waveren North America Career Leader, Multinational Client Group Julie.VanWaveren@mercer.com Sheela Sukumaran Global Technology Industry Leader Sheela.sukumaran@mercer.com 26

28 Copyright 2017 Mercer. All rights reserved. 27