Sep 11, 2012

Work worth doing - the Labor Day thought

September 11, 2012 - Theodore Roosevelt said more than a hundred years ago, "far and away the best prize that life has to offer is the chance to work hard at work worth doing". And he probably meant it for more people than himself. A century later, behavioral economics' evidence has amply proven his intuition. Happiness is highly correlated with fulfillment at work, well beyond mere monetary factors. 

"So what's that for us?" is a question worth asking. And ask I did - to my team, and to myself, on Labor Day 2012. And here are some thoughts on the stuff we do, that's worth doing. 

In general - we are doing innovation. 

Einstein once said that the solutions to today's problems cannot be found at the same level of intelligence that created those problems in the first place. He meant that real solutions need innovation. Trust that one from him. 

I've already said that we are getting the service industry to evolve...away from the labor arbitrage roots. We started by using six-sigma methods, for the first time outside of factories and physical goods, we use globally located resources and we match skill capacity and capabilities more fluidly. This is a big deal, and will matter even more in the next ten years. 

And here's some concrete evidence of that new thinking in action - the fruit of the last two years of work of many of us. 

  • Trade status reporting - have you heard about the worst financial crisis in history? That's what ignited Dodd-Frank, and that's where we go in to solve the transparency and control problem in our capital markets.
  • Know-your-customer and Anti money laundering - financial institutions are full tons of mafia and terrorist money...the challenge is to find it. We take a piece of that action too.
  • Unified Collaboration and Engagement - I know I'm partial, but my children (and certainly yours) will grow up in a world where collaboration between people anywhere in the world will be very, very different from today's. The journey starts right HERE, and very soon!
  • Supply chain analytics. This is the age of volatility. Helping detecting demand, optimizing inventory and getting suppliers screened and their wares analyzed helps companies match demand and supply without straining themselves. Make no mistakes - this stuff kills companies these days.
  • Our support to shared services - These entities have become central to many companies abilities to flex their finance, procurement, HR, IT muscle...both in their home regions and increasingly in developing economies. Without fully functional G&A allocation of resources chokes and better global business services functions strive to professionalize that support.
  • Clinical coding - The US healthcare system is at a fork in the road. It is the most expensive, yet not the most effective, in the world. New regulations push for reform, but resources are scarce...that's where our solutions attempt to plug a scalability gap.
  • Advanced contact center work - Everyone's happiness has been broken at some point by the sheer anger at interacting with defective products and services, and finding that the support lifeline of manufacturers and retailers suck. Let's put that smile back on people's face. Some call it NPS, I call it give a bunch of people a brighter day.

Changing the world, one process at a time...that's what WE do. Let's think about it beyond that Labor Day.

About the author

Gianni Giacomelli

Gianni Giacomelli

Chief Innovation Leader

Gianni serves as Chief Innovation Leader where he drives and sponsors Genpact’s strategic initiatives aimed at sustaining clients’ transformation into digitally-enabled companies. He also co-leads the Massachusetts Institute of Technology (MIT) efforts to set up a Collective Intelligence Design Lab.