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Work Trends 2019

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The average lifespan of a company is now less than 20 years. Work is being redefined and how we increase productivity, manage talent, and develop skills over the next 5 years will be completely different than the last 20. As we move into the 4th industrial revolution - defined by the use of data automation and machine learning - the need to embrace new technologies and design work around people has never been greater. In a first of its kind, this research-focused presentation shares where investment is going in WorkTech and outline the emerging trends that are redefining how companies embrace the new world of work.

Publicada em: Recrutamento e RH
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Work Trends 2019

  1. 1. WORK TRENDS 2019 #WorkTech2019
  2. 2. Work Trends 2019 INTRODUCTION ABOUT US The Acadian Company is a new firm bringing together research & advisory with venture capital. For the past 7 years, we have been building and growing one of largest cloud companies in the human capital management market (Cornerstone OnDemand). During the last 4 years we have been investing in early stage companies through Cornerstone’s corporate venture capital arm. Notable investments include Rallyteam (acquired by Workday), Workpop (acquired by Cornerstone OnDemand), Comparably, Portfolium and Koru. OUR VISION We believe that work is changing in front of our eyes. The convergence of technological, societal and global economic trends has created a skills and employment crisis that will transform how companies operate. Work, learn, life and leisure are converging and the ways companies grow today -- organization structures, physical work spaces, enabling people, running projects and driving shareholder return -- will dramatically change over the next 10 years. CONTACT US Check us out at acadianventures.com or on our blog at medium.com/acadian-insights. Please share any feedback via email to jason.corsello@acadiancompany.com or on Twitter at @jcorsello. 2 Jason Corsello Managing Partner Acadian Company
  3. 3. Summary of Contents 1. Let the Good Times Roll! 4 2. The Future of Jobs & the Rise of Workers 18 3. The Robot Takeover 34 4. The New Skills Economy 40 5. Overwhelmed Employees & the Wellness Revolution 48 6. The Diversity Imperative 61 7. Birth of a New Technology Cycle 73 8. The Emergence of WorkTech 84 WORK TRENDS 2019 3
  4. 4. Let the Good Times Roll 4
  5. 5. Unemployment Well Below 7 Year Average LET THE GOOD TIMES ROLL 5 Source: Bureau of Labor Statistics Dec 2000 3.7% Oct 2018 3.7%
  6. 6. Global Unemployment Has Improved Dramatically in 5 Years LET THE GOOD TIMES ROLL 6 Source: Countryeconomy.com
  7. 7. Poverty Continues to Shrink Globally LET THE GOOD TIMES ROLL 7 2015 10% 1990 30% Source: OurWorldinData.org via World Bank
  8. 8. Wages Expected to Increase Globally in 2018 LET THE GOOD TIMES ROLL 8 Western Europe 2.3% Australasia 2.5% North America 2.8% Middle East 3.8% Asia 5.4% Africa 8.5% Latin America 6.2% Eastern Europe 6.0% Source: Korn Ferry 2017 Salary Forecast
  9. 9. CEO Confidence At a 10-Year High LET THE GOOD TIMES ROLL 9 Source: PwC 21st Annual Global CEO Survey, 2018
  10. 10. ...And Optimistic on the Global Economy 10 LET THE GOOD TIMES ROLL Source: PwC 21st Annual Global CEO Survey, 2018
  11. 11. 11 The Rise of China Continues LET THE GOOD TIMES ROLL ● USA has become the largest global GDP contributor ● Europe continues to decline in global impact ● China and India (to a lesser extent) has emerged as important global contributors Source: World Bank (GDP in current $)
  12. 12. CEOs Becoming More Cautious on Growth 12 LET THE GOOD TIMES ROLL Source: PwC 21st Annual Global CEO Survey, 2018
  13. 13. Is Technology Advancement Improving Productivity? 13 LET THE GOOD TIMES ROLL Source: Bureau of Labor Statistics
  14. 14. Wage Gains Improving but Still Lagging Historically 14 LET THE GOOD TIMES ROLL Source: Federal Reserve Bank of Atlanta; Current Population Survey, Bureau of Labor Statistics
  15. 15. When Will the Correction Occur? LET THE GOOD TIMES ROLL 15 Source: Bloomberg, 2018
  16. 16. Geopolitical Uncertainty Increasingly Concerning LET THE GOOD TIMES ROLL 16 ● Geopolitical uncertainty, populism and protectionism have increased concerns over trade wars ● Unemployment combined with the availability of key skills still presents a risk to growth ● Terrorism and cyber threats concerns have been tempered so far this year Source: PwC, 21st Annual Global CEO Survey
  17. 17. With uncertainty a continuum, is your organization designed to support frequent and rapid change? 17
  18. 18. The Future of Jobs 18
  19. 19. Job Openings Are at a 17 Year High 6.6MM Job Openings (6/18) 1.4MM - Professional Services + Finance 1.3MM - Trade/Transportation/Utilities 879K - Leisure/Hospitality 661K - Mining/Construction/Manufacturing 622K - Government 486K - Other THE FUTURE OF JOBS 19 Source: St. Louis Federal Reserve, FRED
  20. 20. THE FUTURE OF JOBS 20 Source: Bureau of Labor Statistics, Job Openings and Labor Turnover Survey, Oct 84, 2018 Note: Dotted area represents recession as determined by the National Bureau of Economic Research (NBER) We Have More Jobs Available than Can be Filled
  21. 21. American Teens Aren’t Working 21 THE FUTURE OF JOBS 57.9% 24.6% Source: Teresa L. Morisi, "Teen labor force participation before and after the Great Recession and beyond," Monthly Labor Review, U.S. Bureau of Labor Statistics, February 2017
  22. 22. Hiring Remains Challenging THE FUTURE OF JOBS 22 Source: Lever, 2018; Note: Data based on 660+ companies with under 200 employee and approximately 1.5M candidates
  23. 23. Jobs and Skills are Changing Rapidly THE FUTURE OF JOBS 23 Most In-Demand Skills 1. Management 2. Sales 3. Communication 4. Marketing 5. Start-ups 6. Python 7. Software development 8. Analytics 9. Cloud computing 10. Retail Source: LinkedIn, 2018
  24. 24. New Markets = New Opportunities for Existing Jobs THE FUTURE OF JOBS 24 Source: Becker’s Hospital Review, 2018
  25. 25. Every Job is Changing THE FUTURE OF JOBS 25 Experimentation Platform Director Automotive Occupant Packaging Engineer Crypto Protocol Engineer Computer Vision Engineer Design Researcher Camera Algorithm Engineer Culinary Product Developer Bioinformaticist Source: Cornerstone OnDemand, 2018
  26. 26. Average Tenure is Dropping THE FUTURE OF JOBS 26 Source: Bureau of Labor Statistics
  27. 27. Will Companies Replace Government to Regulate Wages? THE FUTURE OF JOBS 27 Source: Bloomberg, October 2018
  28. 28. The On-Demand Workforce Continues to Grow THE FUTURE OF JOBS 28 30% CAGR over the last 4 years Source: Intuit (2017/2018)
  29. 29. 29 Flexibility Has Become Highly Desired THE FUTURE OF JOBS Source: Gallup 2017 State of the American Workplace
  30. 30. 30 Freelancers to Become the US Workforce Majority in the Next Decade THE FUTURE OF JOBS 2027: Expected year when majority of workforce is freelancer Source: Freelancing in America, 2017; Upwork
  31. 31. 31 Freelance Workforce Outpacing Total Workforce THE FUTURE OF JOBS Source: Freelancing in America, 2017; Upwork
  32. 32. Freelancers Update Their Skill More Often THE FUTURE OF JOBS 32 Source: Freelancing in America, 2017; Upwork
  33. 33. Emergence of New Freelancer Marketplaces THE FUTURE OF JOBS 33
  34. 34. The Rise of the Robots 34
  35. 35. Automation and the Aging Workforce 35 THE RISE OF THE ROBOTS ● Aging Population has not yet been correlated with lower GDP per capita ● More rapid adoption of automation technologies in countries undergoing more pronounced demographic changes Source: National Bureau of Economic Research, July 2018
  36. 36. Globally, up to 375 million workers may need to switch jobs THE RISE OF THE ROBOTS 36 Source: World Economic Forum The Future of Jobs Report 2018
  37. 37. Who’s At Risk of Automation? 37 THE RISE OF THE ROBOTS Source: University of Oxford
  38. 38. Machines are Eating the World 38 THE RISE OF THE ROBOTS Source: Future of Jobs Survey, World Economic Forum, 2018
  39. 39. AI is Changing the Skills Needed in the Workforce 39 THE RISE OF THE ROBOTS Source: Future of Jobs Survey, World Economic Forum, 2018
  40. 40. The New Skills Economy 40
  41. 41. Over $200 Billion is Spent on Enterprise Learning Today 41 THE NEW SKILLS ECONOMY Source: TD Market Study, Bersin Corporate Learning Factbooks, Toward Maturity Benchmark Surveys, Sierra-Cedar HR Systems Survey
  42. 42. China is Outpacing all Countries in STEM Degrees THE NEW SKILLS ECONOMY 42 Source: Kleiner Perkins Internet Trends, 2018; USA National Science Foundation analysis of National Bureau of Statistics
  43. 43. The Demand for New Skills is Increasing 43 THE NEW SKILLS ECONOMY Source: Future of Jobs Survey 2018, World Economic Forum
  44. 44. Soft Skills Have Become the #1 Skills Gap THE NEW SKILLS ECONOMY 44 Source: LinkedIn, 2018
  45. 45. 45 New Specializations Driving Online Learning Most Popular Courses in 2017 (Coursera) Machine Learning – Stanford University Neural Networks and Deep Learning – deeplearning.ai Learning How to Learn: Powerful Mental Tools to Help You Master Tough Subjects – University of California, San Diego Introduction to Mathematical Thinking – Stanford University Bitcoin and Cryptocurrency Technologies – Princeton University Programming for Everybody (Getting Started with Python) – University of Michigan Algorithms, Part I – Princeton University English for Career Development – University of Pennsylvania Neural Networks for Machine Learning – University of Toronto Financial Markets – Yale University THE NEW SKILLS ECONOMY 6M 33M Source: Coursera
  46. 46. Upskilling - Education as a Benefit 46 Disney Aspire Education Investment Program Disney cover 100% of tuition up front ● Earn a high school diploma ● Get a college or master's degree ● Learn a trade ● Improve your English Walmart Education Benefits Walmart subsidized program ● 100% company funded high school diploma ● $1 a day for college degree ● Continuous professional development THE NEW SKILLS ECONOMY Lyft Education Perks Program designed for “gig” workers ● Tuition discounts ● Education coach ● On-demand courses
  47. 47. Enterprise “Edu-tainment” THE NEW SKILLS ECONOMY 47
  48. 48. The Overwhelmed Employee 48
  49. 49. Workforce Stress is Becoming a Runaway Train ● Work is the #1 source of stress according to WebMD ● Toxic workplace environments account for 120,000 excess deaths per year in the US making workplaces the 5th leading cause of death ● At least 1 million people in China currently die from overwork each year ● The European Agency for Safety and Health at work estimates stress accounts for 60 percent of all lost days in the workplace THE OVERWHELMED EMPLOYEE 49
  50. 50. 50 Nearly 2/3rds of Employees are Stressed THE OVERWHELMED EMPLOYEE 65% Source: Deloitte Burnout Survey, 2018
  51. 51. Cost of Health Benefits Have Grown 60% Over the Last Decade THE OVERWHELMED EMPLOYEE 51 Source: Kaiser/HERT Survey of Employer-Sponsored Health Benefits, 2007-2017
  52. 52. 52 Full Employment Does Little to Impact Household Debt THE OVERWHELMED EMPLOYEE Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax
  53. 53. 53 Personal Savings Dropping While Debt Increasing THE OVERWHELMED EMPLOYEE Source: St. Louis Federal Reserve FRED Database, US Federal Reserve Bank
  54. 54. Student Debt Continues to Grow Out of Control 54 THE OVERWHELMED EMPLOYEE Source: Federal Reserve Bank of New York Consumer Credit Panel / Equifax
  55. 55. Student Debt is Spiraling Out of Control THE OVERWHELMED EMPLOYEE 55 Source: Bloomberg, 2018
  56. 56. 56 Half of the Full-time Employees Work Over 50 Hours THE OVERWHELMED EMPLOYEE Source: Gallup 2014 Work and Education Poll
  57. 57. Do Employees Really Leave Managers? 57 THE OVERWHELMED EMPLOYEE Source: Deloitte Burnout Survey, 2018
  58. 58. Managing Employee Engagement is Evolving 58 THE OVERWHELMED EMPLOYEE Source: Gartner Group, 2018
  59. 59. New Technologies Impacting Health & Wellness THE OVERWHELMED EMPLOYEE 59 Financial Stress Coaching & Mentoring Stress & Addiction Mental Health Burnout Personalized Benefits
  60. 60. Employees Are Becoming More Outspoken THE OVERWHELMED EMPLOYEE 60
  61. 61. The Diversity Imperative 61
  62. 62. Diverse Companies Win 62 THE DIVERSITY IMPERATIVE 22% Women-led companies that are venture funded 58% Return on Equity improvement with strong female leadership Sources: Center for Venture Research; MSCI Women on Boards, 2015
  63. 63. Female Still Not Strongly Represented as CEO or in the Board 63 THE DIVERSITY IMPERATIVE Source: Factset, 2018
  64. 64. Gender “Un-equity” 64 THE DIVERSITY IMPERATIVE Source: Carta: The Gap Table: Analyzing the gender gap in equity, 17 Sep 2018
  65. 65. We Have a Reason to be Optimistic 65 THE DIVERSITY IMPERATIVE Source: Brookings Institute; Schanzenbach, Boddy, Mumford and Nantz, 2016
  66. 66. Wage Gains by Gender 66 THE DIVERSITY IMPERATIVE Sources:
  67. 67. Only 35% of STEM bachelor degrees are earned by women THE DIVERSITY IMPERATIVE 67 Source: ServiceNow, 2017
  68. 68. The Rise of Women in Technology THE DIVERSITY IMPERATIVE 68 Source: Wikipedia, as of Oct 1, 2018
  69. 69. Girls Outperform Boys including STEM Subjects 69 THE DIVERSITY IMPERATIVE Source: Nature Communications, ISSN 2041-1723 (online), 2018
  70. 70. Women Are Better than Men at Most Soft Skills THE DIVERSITY IMPERATIVE 70 Source: Pew Research Center,, 2018
  71. 71. Married Women Have Become More Educated than Spouses 71 THE DIVERSITY IMPERATIVE 25.3 24.5 Source: Decennial Census and American Community Survey, 2015
  72. 72. If you do not have a defined diversity & inclusion strategy today you will lose the war for talent tomorrow! 72
  73. 73. Birth of a New Technology Cycle 73
  74. 74. We Are Witnessing the Birth of the Next Technology Cycle 74 BIRTH OF A NEW TECHNOLOGY CYCLE Computing Cloud Data Intelligence PC 2000 2010 2030 GUI Social Mobile Digital Assistants Assisted Intelligence Blockchain Augmented Reality APIs 20201990
  75. 75. Public Cloud Adoption Continues to Grow BIRTH OF A NEW TECHNOLOGY CYCLE 75 58% 72% Source: Gartner Group
  76. 76. Online Video Viewing to Exceed 1 Hour Per Day 76 BIRTH OF A NEW TECHNOLOGY CYCLE Source: Zenith Online Video Forecasts, 2017, 2018
  77. 77. Data Driven Personalization BIRTH OF A NEW TECHNOLOGY CYCLE 77 Company Linkedin Talent Insights Team Glint People Success Platform Individual Cornerstone OnDemand Learning Experience Platform
  78. 78. Messaging in the Age of Chat BIRTH OF A NEW TECHNOLOGY CYCLE 78 Source: Statista, 2018
  79. 79. 79 Slack’s Hypergrowth in the Enterprise BIRTH OF A NEW TECHNOLOGY CYCLE Slack Benefits ● 32% Decline in Email Usage ● 24% Reduction in Employee Onboarding Time ● 23% Faster Time to Market for Development Teams ● 23% Decline in Meetings ● 10% Rise in Employee Satisfaction Source: Slack, 2018
  80. 80. 80 Platform & Integrations Key to Slack’s Success BIRTH OF A NEW TECHNOLOGY CYCLE Slack Platform Launch 160+ Apps Slack App Directory 1000+ Apps Small Teams Global Enterprise Source: Slack, 2018
  81. 81. Virtual Meetings we Actually Enjoy BIRTH OF A NEW TECHNOLOGY CYCLE 81 Zoom Benefits ● 85% Improved Collaboration ● 71% Improved Productivity ● 62% Supported Flexible Work Schedule ● 58% Built Trust Among Remote Workers ● 58% Reduced Meeting Times ● 48% Removed Company Silos ● 72 Net Promoter Score Source: Zoom Video Communications,, 2018
  82. 82. The Return of Custom Applications 82 BIRTH OF A NEW TECHNOLOGY CYCLE Source: Work-Bench 2018 Enterprise Almanac
  83. 83. We Should All Be Watching AI Closely BIRTH OF A NEW TECHNOLOGY CYCLE 83 Bias Internal Data (proprietary) + External Data (proprietary) + External Data (public) Company “Aggregated & Anonymized” + Individual “Privacy Settings” Bias Bias Bias Bias Bias Recommendations + Insights + Benchmarks + Automated Decisions Bias Bias Bias Bias Bias Bias DATA “MLP” Personalization
  84. 84. The Emergence of WorkTech 84
  85. 85. From #HRTech to #WorkTech #HRTech #WorkTech Process & Automation AI (Augmented Intelligence) HR as power users Employee as power users Focus on individuals Focus on teams Performance-based Skills-driven Back office systems Workforce-centric 85 THE EMERGENCE OF WORKTECH
  86. 86. Traditional Hierarchies Are Disappearing THE EMERGENCE OF WORKTECH 86 employees experience expert teams company departments platform OLD NEW
  87. 87. Our Life is Wasting Away on Work Email! THE EMERGENCE OF WORKTECH 87 The average worker spends 28%of their work week on email, more than 11 hours a week! Source: frontapp.com, 2018
  88. 88. The 4Ps of Work 88 THE EMERGENCE OF WORKTECH Promotion Price Place Product People Productivity Performance Progression Purpose Prosperity Marketing Work
  89. 89. The 5 Ps of Work THE EMERGENCE OF WORKTECH 89 Performance Can I work collaboratively to accomplish a task, goal, objective or project? Productivity Are we efficient and effective in time management and the integration of work and life? Progression Does the company personalize individual growth to include skills development career growth and pay progression? Prosperity Is the company proactive in supporting health, career AND financial wellness? Purpose
  90. 90. Technology is Driving the Future of Work THE EMERGENCE OF WORKTECH 90 Source: The Acadian Company, 2018
  91. 91. Made in USA No Longer Applies THE EMERGENCE OF WORKTECH 91 Source: The Acadian Company, 2018
  92. 92. The Lingering HCM Giants - Consumer Meets Enterprise THE EMERGENCE OF WORKTECH 92
  93. 93. New Entrants to the Future of Work THE EMERGENCE OF WORKTECH 93 Staffing Learning Payroll
  94. 94. Experimentation is key to innovation! 94
  95. 95. Thank You! 95 acadianventures.com @acadianventures hello@acadianventures.com jason.corsello@acadianventures.com medium.com/@jcorsello @jcorsello