Oct 31, 2012

The Future of Work - The worst of times, the best of times

October 31, 2012 - The writing is on the wall – and it is a radical inflection. Consider the following few, dramatic trends. 

First – talent. Global talent imbalances are growing wild - for example, the US alone will soon lack 200,000 data scientists per year. Baby boomers are retiring. 60% of HR executives believe that the future will see more part-time, temporary, or work-from-home staff. Crowdsourced resources catalog galaxies and structure big data, besides answering all of your tricky iPhone questions.

Second – business practices. More than 50% of back and middle office processes can by now be performed in shared services organizations, a steadily increasing trend.

Third – technology. The cost of internet bandwidth has halved every 2.5 years for the last decade. Screen pixels are doubling performance every 1.5 years, and their cost is plummeting. Mobile internet penetration has reached 70% of the US population in just 7 years – half the time it took fixed-line internet to do the same. And what about Microsoft’s acquisition of Skype?

There is a clear and relevant pattern. While distance is dying, many still don’t take advantage of it – and run into work scalability issues. The changing work landscape will present dramatic opportunities for those who harness it and massive risks for those who ignore it.

Genpact has been closely following these trends for the last years. We will soon be discussing the implications of these trends in a webinar. Some of questions that the webinar will help answer:

  • What is happening, and what implications does it have on my global SG&A Operations?
  • How do I structure a pragmatic yet strategically viable, effective solution?

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.