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A Look at Deloitte’s 2016 Global Human Capital Trends Study

The name of the report is right here in the title of this post, but its subhead is what caught our eye - “The new organization: Different by design” really signifies a corporate breakthrough. Today’s executives have come to embrace a new way of work instead of trying to force-fit yesterday’s strategies across their organizations.

So, what’s driving this “new organization”? The report outlines the top 10 trends for 2016, based on Deloitte analyzed more than 7,000 survey responses from 130 countries to single out the top 10 trends for 2016. They were derived from four main drivers of change:

Demographic upheavals

Today’s workforce is more diverse than ever because workers are both older and younger. Millennials account for more than half the workforce, while at the same time many Baby Boomers are pushing out retirement until much later than 65.

The growth of digital technology

Not only has technology changed the way work is done, but it’s also changed the way people are hired and managed. If it seems like there’s nothing that you can’t do with your mobile phone – you’re right.

An accelerated rate of change

Agility is the name of the game. The pace of change in technology innovation AND that of business models (think Uber) is significantly faster.

A new social contract

Relationships between employees and employers are different today. It’s crazy to think you will start and end your career with the same company, if even you remain a full-time employee for your entire working life. Today almost one-third of the workforce is considered contingent, contract or part-time…

Which brings us to one of the ten biggest trends...

The Gig Economy

The report defines the gig economy as “networks of people who make a living working without any formal employment agreement.” These non-full-time workers are growing to 40 percent of the workforce by 2020, according to the report.

Because they’re often brought in via the Procurement department or individual hiring managers, HR is struggling to understand who is working for them and how to manage them successfully alongside full-time employees, often doing the same work.

What’s the best way to incorporate these workers into your workforce mix? Take a look at the full, complimentary study for more stats, trends and best practices for 2016.  

August 3, 2016 | Tricia Cagua