Deloitte establishes Future of Work Center of Excellence in Singapore to address global workplace challenges
- New Center is one of Deloitte’s largest investments at US$20 million (approximately S$27.6 million) over three years, in collaboration with the Singapore Economic Development Board (EDB)
- Deloitte and Singapore to spearhead innovative approach to address Future of Work opportunities and challenges
SINGAPORE, 7 August 2017—Today, Deloitte announced the launch of its Future of Work Center of Excellence (CoE), a first-of-its-kind platform to create solutions that anticipate market disruptions, address the skills mismatch challenge, and identify future job requirements.
Based in Singapore, the new CoE will help develop a suite of data analytics, automation tools, and workforce-planning cloud models for businesses and governments to address clients’ current and expected workforce needs.
Supported by EDB, the CoE joins Singapore’s nation-wide lifelong learning movement, SkillsFuture, and various Smart Nation initiatives in a broader effort to help Singapore respond to the changing nature of work, and establish both Singapore and Deloitte as a recognized global leader in the Future of Work.
“Cognitive technologies, robotics and accelerating connectivity are all elements of a seismic shift impacting how and where work is performed. Almost every job will be reinvented as personal expectations of work evolve and essential human skills are augmented by technology,” says Punit Renjen, CEO, Deloitte Global. “This transformation will require organizations to reconsider how they hire and reskill workers and develop new operational strategies for a more mobile and autonomous workforce. Through this new Center of Excellence, Deloitte is committed to helping organizations navigate these challenges successfully.”
Over the next three years, Deloitte’s investment of US$20 million (approximately S$27.6 million) in the Center not only signals an unprecedented collaboration with the government of Singapore, but also represents one of Deloitte’s largest investments in partnership with another organization.
“Singapore has critical needs for new learning models, for educational institutions to catch up with new technologies, and for the workforce to embrace new skills and new careers,” says Philip Yuen, CEO, Deloitte Southeast Asia and Singapore. “The flagship Future of Work CoE will navigate through these challenges and develop solutions in the areas of workforce planning, talent acquisition, and automation tools. Just as importantly, it will position Singapore as a global hub, and Deloitte as a global leader, in addressing the opportunities and challenges related to the future of work.”
The Singapore CoE will serve as the global flagship with Deloitte also launching CoEs in the US, UK, and Canada to advance global Future of Work solutions. In addition to catalyzing job creation in Singapore and around the globe, the Center will enable knowledge and skills transfer to Singapore’s core workforce while building local capabilities and labor solutions here.
Starting immediately and over the next three years, the Future of Work CoE will train and employ local Singapore and global talent in highly sought-after areas such as data science, UX, HR analytic, actuarial science, and natural language processing, among others.
“Companies in Singapore have a good track record in using technologies, such as analytics and IoT, to solve real-world business problems. They are also able to collaborate with consulting and technology providers to innovate and develop new services and solutions,” says Dr Swan Gin Beh, Chairman of EDB. “We welcome the setting up of Deloitte’s Future of Work Center of Excellence in Singapore as this will foster even more partnerships and strengthen the ecosystem for technology innovation.”
With only 11 percent1 of business leaders confident they are prepared to build the organizations of the future, Deloitte’s CoE will reinvent how both established corporations and innovative startups leverage emerging technologies to adapt to new ways of working. The Center will take an agile approach to the future of work, constantly creating and testing solutions side-by-side with clients to rapidly respond to market shifts and solve complex business challenges.
“Skills shortages are a constant challenge across our workforce in almost every industry and geography,” explains Indranil Roy, Future of Work lead, Deloitte Southeast Asia. “To adapt to the future of work, businesses will need people with skills that include digital know-how, management capability, creativity, entrepreneurship, and complex problem solving. This, in turn, will drive job creation and economic growth for countries.”
The Future of Work Center of Excellence is the first in a series of Singapore-based, digital solutions-focused centers of excellence Deloitte is planning to establish with public and private sector players. These innovative public-private collaborations also aim to position Singapore as a global IP export and capability development hub.
As used in this press release, “Deloitte” refers only to the Deloitte Touche Tohmatsu Limited member firms.
1Deloitte, “Rewriting the rules for the digital age – 2017 Deloitte Global Human Capital Trends,” Deloitte Insights, 28 February, 2017
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Deloitte Southeast Asia Ltd—a member firm of Deloitte Touche Tohmatsu Limited comprising Deloitte practices operating in Brunei, Cambodia, Guam, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam—was established to deliver measurable value to the particular demands of increasingly intraregional and fast-growing companies and enterprises.
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