Press releases

Deloitte releases 2020 Global Human Capital Trends Report

22 July 2020 - Deloitte has released its 10th Global Human Capital Trends annual report, ‘The social enterprise at work: Paradox as a path forward’. The cornerstone of our report is a global survey, which has grown in scale from 1,300 respondents in 59 countries in 2013 to nearly 9,000 respondents in 119 countries in 2020, making it the largest longitudinal study of its kind.

In Kenya, we have always been quick to embrace technology and most organizations have viewed their efforts to address human capital and social concerns as wholly separate from their efforts around technology; the two conversations ran on separate tracks with some even viewing technology and humanity as distinct domains fundamentally at odds. But what if we had to fuse the two?

Commenting on the report, Deloitte East Africa Consulting Partner George Hapisu noted, “In this year’s report, we challenge organizations to re-examine whether humanity and technology are truly in conflict and to consider how it is possible to resolve the seeming paradox of finding ways to remain distinctly human in a technology-driven world. In each chapter, we show how organizations that embrace a new set of attributes anchored in purpose, potential, and perspective can create lasting value for themselves, their workforce, and society at large.”

In the report, workers’ well-being comes out as a top priority, rated the highest in importance across all trends, and organizations need to focus on the individual in work, not just the individual at work. In doing so, organizations can restructure work in ways to help workers feel and perform their best, strengthening the tie between well-being and organizational outcomes and fostering a greater sense of belonging overall.

Organizations are going beyond reskilling to empower employees to continuously develop skills, investing in new tools to make micro and expert-led learning easier than ever and responding to the evolving workforce to ensure they are prepared in today’s changing world. Reskilling is a strategic dead-end. Organizations should stop focusing on reskilling and instead focus on building the inherent capabilities humans need to be resilient and adaptive. Economies are shifting from an age of production to an age of imagination, driven by creativity and uniquely human capabilities.

Beyond focusing on how to improve the way work is done today, organizations now need to first consider what work they should be doing tomorrow, putting work outcomes in a constant state of flux and work in a continuous state of reimagination.
 

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