Our clients are changing and so are we.
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A hub of collaboration and creativity, where solutions aren’t handed out, but created together. PwC is open for business – your way.
"We all have a role to play in ensuring Australia’s future prosperity. But it is only by working together, combining our talented network of clients and suppliers with our skilled people, that we can solve the important problems we face as a nation, collectively exploring beyond the bounds of what we think we can achieve." Luke Sayers, CEO, PwC Australia
Use the full interactive infographic to explore the six high-impact areas you need to transform your organisation.
We see a world where the new possibilities that man and machine in collaboration bring us are almost endless. Cognitive computing is replacing knowledge work – but it’s still people who have ideas, not machines. How do we re-think the future of workforces? How do we nurture the adaptable, re-skilled people we need to work alongside technology? And how do analytics and data visualisation bring insight through previously unseen patterns?
Rather than trying to change existing culture, organisations can harness existing cultural forces to support strategy and accelerate/ sustain change efforts. The secret is to target a few behaviours that are critical, and a few sources of emotional energy that are already underutilised in the culture. One key to successful execution involving informal leaders who already make use of their cultural influence in motivating people who work for them.
The ability to trust people might seem like a pleasant luxury, but economists are starting to believe that it's rather more important than that. A lack of trust is directly damaging for economic growth (macro) and for a company's success (micro), holding back investments, entrepreneurship and innovation.
A trusted organisation has 4 components - enabling relationships, building reputation, behaving reliably and doing good.
With the potential for disruption across any industry being so high, the need for an organisation to transform and change is a 'when' rather than an 'if'.
If you want your transformation to succeed we think there are two questions you need answers to:
Leadership is vital to free workers from the unimportant and focus them on delivering the right things. We can’t make humans into machines, but we can allow them to be better humans.
What motivates and drives workers? How do we respond to threats and rewards, to policies, and what contributes to our happiness?
Meawhile, the average working woman in the OECD still earns 16% less than her male counterpart, despite becoming better qualified. In this day and age, it seems unconscionable that women are still paid relatively less than men. Inequality starts at a young age: a UK survey by Halifax shows that boys get 13% more pocket money than girls.
HR needs a deep knowledge about workplace issues. But it should also bring first-rate analytic minds into the function to help companies make sense of their employee data and get the most from their human capital. And the world of work is set to get more complicated still as organisations look towards automation, digitisation and mixing employees with ‘gig’, contract and outsourced skills.
By 2020, the make-up of the workforce and how it’s recruited, organised and rewarded will look very different from today. In turn, the role and function of HR will have been overhauled. As human capital and business strategies become more intertwined, business and HR leaders both need to be accountable for adressing human capital priorities.
Developing the right workforce requires a new mindset as much as a new skillset. Ramping up hiring or throwing dollars at training won’t solve the skills problem. Competing priorities, like balancing talent needs with costs, aren’t going away, and there are still talent shortages.
Companies that survive and thrive will focus on recruiting the right people with the right mindset: those who combine business skills with traits such as versatility, digital-savvy, cultural insight, creativity and comfort with transparency.
Culture is just as important as strategy and operating model, mananging all three enables rapid sustainable benefits realisation. Behaviours not mindsets are the best starting point. It’s easier to act your way into a new way of thinking than think your way into a new way of acting.
Independent work is perceived to allow greater flexibility in schedule and control over work environment, the opportunity to earn more, and a better work-life balance. In this world where workers crave autonomy but need stability, 'complexity' and 'fluidity' are the hallmarks of the new work order. No longer is there just one social contract between employer and worker - each must be tailored to the needs of the employer and employee alike, rather than being rigid and rule-driven.
More and more Australian organisations are moving towards making all roles ‘flexible’, allowing employees to determine how, where and when they work.
Flexibility has extended past employees working part time or altering the hours that they work to fit in with personal commitments and has shifted towards employees working remotely, interstate or internationally. To enable increased flexibility and agility, policies and processes throughout the entire organisation need to be reviewed and updated. From a mobility perspective, it is essential that the organisation’s mobility policy and processes address the specific requirements and obligations that arise from working flexibly in either a domestic or international context.
Many business and HR issues are being driven by disruptive innovations that are challenging the way we work, traditional industries and business models. We need to start thinking differently to keep up with the pace of change.
A company's culture is as critical as strategy and operations, and the three must be in sync. To align culture to strategy, begin by developing an understanding of the strengths within your existing culture. These "critical few behaviours" can be leveraged in support of what the company is trying to accomplish strategically.
Major forces and trends are underway that will dramatically impact how workforces need to respond and adapt to achieve success. Workforces are adjusting to an increasingly mobile workforce, and a variety of new workers - commuters, business travellers, virtual assignments, and freelance project workers. The power of data-led insight is transforming how organisations can make better informed decisions about harnessing the power of their people – particularly for strategic workforce planning.
Older people could hold the key to reviving Australia's economy, with the potential to add up to $78b to Australia's GPD, while our next generation of workers could inject $1 trillion. Female millennials are becoming a larger and larger part of the global talent pool, while 78% of large organisations tell us they’re actively seeking to hire more women – especially into more experienced and senior level positions. The workforce of the future will be a hybrid of ages, cultures, genders and working styles. What does this mean for the future of your organisation? Have you thought about who the business leaders of 2030 will be? What are the risks of being left behind?
Next-gen workforces will be a mix of permanent, contract and outsourced labour, by virtue of business needs and worker preferences. What impact will changing talent mixes have on organisational culture? And are HR ready to deal with the complex challenges new worker ecosystems bring?
The business world is in the midst of fundamental change and in the next decade the ability of organisations to manage their global talent efficiently will mark the difference between success and failure. We’re facing a world where the best and brightest talent are prepared to follow their own agenda and opportunities, wherever they may be and irrespective of who is offering them.
Closer to home, Australia has the talent to succeed in Asia, but are we doing enough to foster, prepare and deploy this talent in the region?
Globally, there is a glaring disconnect in female expectations and companies’ approaches to female mobility. Only 20 per cent of the current internationally mobile population are women and only 22 per cent of global mobility executives are actively trying to increase their levels of female mobility. How prepared are you to seize this opportunity?
We are at a critical point in time. Australia needs to foster a nation of innovation to ensure our children, businesses and economy prosper in the long term. We need to equip not just our children, but our entire workforce, with 21st century skills, to enable them to think, solve, create, persist, sort and share. Above all, we need to encourage curiousity, imagination and passion.
With more tasks being automated, and many jobs of the future not even thought of yet, will our education shift from its traditional roots to one of life-long learning & development?
Effective onboarding programs can establish your culture, increase/ accelerate productivity, and assist with employee retention over time. Setting staff up with the social networks, knowledge, and technology resources - reduces the barriers to their productivity. With more tasks being automated, and many jobs of the future not even thought of yet, will our education shift from its traditional roots to one of life-long learning & development?
When we talk about diversity, we’re describing a wide range of differences and similarities. In its full breadth, diversity encompasses 24 dimensions — including race, ethnicity, gender, sexual orientation, religion, generation and physical ability. Some are visible, some are not.
In today’s fast moving world, achieving diversity and inclusion is a critical challenge and opportunity for all organisations. To make progress, diversity must be embedded into the organisation’s DNA – and leadership must be committed to and accountable for diversity.
The world has changed – men and women have completely different expectations of work – and yet too often our systems have not changed to allow for this. To attract and retain the modern workforce a culture of flexibility and work-life balance is critical.
As organisations seek to gain advantage, business operations have come into the spotlight and demand for optimal cost management and customer-centric processes has never been greater. Yet, have you considered how your operations also affect your workforce, and how they in turn can work with your organisation to improve your overall performance?
Purpose driven strategy is manifesting something that is bigger than performance for self-interest. Organisations should be thinking about how they deliver value now, and how in a world that is rapidly changing they will deliver work in the future under a different paradigm with different values. How can you tap into leading with compassion and doing something for the greater good, from a business perspective?
Of the top two most likely disruptive trends over the next five years, Australian COOs rank changes in industry regulation as the most disruptive, followed by changes in demand patterns, volatility and demographics. But only half expect disruption from increasing competition, compared to almost two-thirds in the US. And only 52% of Australia’s COOs expect disruption from changes in core technologies of production or service provision, compared to 60% globally and 71% in the US.
Advanced analytics and machine learning – technologies that once seemed like beacons from a distant future – are increasingly available and accessible to businesses. The ability to make intelligent decisions that drive growth, disrupt the market and capitalise on emerging opportunities is now linked less to gut feel and industry knowledge and more to predictive and prescriptive analytics, artificial intelligence and data-driven insights. Gaining competitive advantage is no longer about accepting the status quo or relying on age-old traditions. It’s about mustering the courage and commitment to harness both mind and machine.
Organisations need to harness analytics and data visualisation to bringing insight and order, through previously unseen patterns, to business decision-making. But how do we learn to ask the right questions of the data?
Most of the world’s major innovators are in the midst of the same transformational journey. They are moving into a new world in which R&D is shifting more and more to developing the software that enables and enhances the performance of their products, and on developing services they can sell along with the products, which provide customers with additional features and improved usability.
Technological advancements are appearing, rapidly and simultaneously, in fields as disparate as healthcare and industrial manufacturing, because of the following concurrent factors:
Organisations today are looking for ways to radically overhaul their business processes to meet high customer expectations while lowering costs and risks. In the US, organisations are turning to Robotic Process Automation to achieve this, while drones are projected to take $127bn worth of human work by 2020.
How is this revolution disrupting industries and allowing companies to create new business and operating models?
The technological breakthroughs megatrend is manifesting itself in a proliferation of technologies. To remain relevant and to succeed, emerging technology strategy needs to be a part of every company’s corporate strategy.
Technological advancements are appearing, rapidly and simultaneously, in fields as disparate as healthcare and industrial manufacturing, because of the following concurrent factors: cheaper access to technology, globalisation of technology, increased comfort with technology, the competitive advantage of technology, and the multiplier effect of technology.
Increasing complexity and accelerating disruption require a different response by leaders than they’ve used in the past to have success. We are now in the era of collaboration - where traditional competitiveness may likely be stiffling innovation and new market opportunities. How can you work differently to open the door to new possibilities?
Digitisation is transforming how companies in every industry go to market, interact with customers, and carry out their operations. The digital transformation required, however, is complex, time consuming, and expensive, and it affects every aspect of the enterprise. So it’s essential that companies actively plan and monitor their digital investments in order to get their money’s worth out of the effort.
In the age of the machine, people matter more than ever. The right mix of people and machines in the workplace - and the implications not only for business but for wider society - is the critical talent question of our age.
The accelerating pace of change and advancement in technology has seen the rise of the robot change the face of how we work, how we learn, the economy, the job market and the community at large. Nearly half of Australia's workforce is at risk of computerisation and automation in the coming decade. So, with Australia’s economy and business landscape in transition how can business leaders build a workforce fit for the future?
We can’t make humans into machines, but we can allow them to be better humans.
The technology revolution has shifted traditional boundaries. Businesses now operate in an increasingly interconnected digital ecosystem. While offering opportunities for innovation and productivity, the Cyber era also presents new risks and challenges.
Organisations are facing shorter strategy cycles, ever changing skill needs and a global battle for key skills as part of their contingent workforce. Many are wanting the right technology solution to find and connect with the best talent to allow them to deliver value - wherever they may be.
Companies everywhere pay too little attention to the implicit messages - about productivity, commitment, and capabilities - that are sent by their own software interfaces.
Constant disruption means your systems, processes, structure, information and people must be fully integrated and aligned to strategy yet agile and ready to change at speed. Old organisational hierarchies don't get the right people solving problems and creating ideas quickly.
By 2020, more than a third of the desired core skill sets of most occupations will be comprised of skills that are not yet considered crucial to the job today. Knowing what these are, identifying if and where the skills you will need currently exist and developing a strategy to acquire access to them is vital – including cultivating a workforce with high levels of learning agility.
When a company struggles to execute on a strategy, all too often the first reaction is to redraw the organisation chart. Research shows that enterprises fail at execution becase they go straight to structural reorganisation and neglect the most powerful drivers of effectiveness - decision rights and information flow elements.
The future of work will require organisational models and structures that will deliver maximum agility, flexibility and responsiveness. Organisation design can bring clarity to individual role accountabilities vs. more formal governance requirements, in line with both internal needs and in externally regulated environments.
Organisations are exploiting consumer-oriented styles and technologies to create the kinds of collaborative and data driven work environments that drive agility, innovation and workforce effectiveness.
Organisations are experimenting with activity based workplaces, and working from home inititatives, and it is decreasing their real estate overheads significantly. ABW requires fewer desks, storage areas, and space per person, whilst offering different styles of spaces to suit various types of work.
As workplaces are increasingly supported by collaboration and communications technologies, employees become independent of their location. Opening new lines for collaboration across silos and locations can shortcut problem solving within the organisation. Employees can enjoy how the increased flexibility supports better work-life balance, however the pressure to be "always on" must be managed. The workplace culture needs to find new ways of developing trusted relationships across virtual networks.
As organisations strive to be agile and flexible, these attitudes will increasingly extend to working hours. Potential working arrangements include working part-time, job sharing, varied work hours and telecommuting.
An anytime-anywhere approach to business requires a culture of trust. The right technology enablers support staff in flexing their hours in ways that support their clients, and can nurture staff satisfaction and engagement.
Culture can be slow to change, but environment may have a big influence on behaviours. Moving offices presents an opportunity to assess culture and how to better align it to strategy. The design an environment to foster the right behaviours and culture.