Digital technology, changing workforce demographics and speed of innovation are causing companies to redesign organisational structure, evolve leadership models, and drive an employee-centric culture and experience, a new Deloitte survey finds.
The 'Global Human Capital Trends Survey 2016: The new organisation, different by design', shows sweeping global forces are reshaping the workplace, the workforce, and work itself, with 92% of business and human resources (HR) leaders having identified the critical need to redesign their organisation to meet global business demands. However, only 14% of executives believe their company is ready to effectively redesign their organisation.
In the first three years of the same Deloitte’s study, respondents placed a high priority on increasing employee engagement and retention, improving leadership, and building a meaningful culture. The 2016 study found, for the first time, nearly half of respondent companies (45%) are either in the middle of a restructuring (39%) or planning one (6%).
Hamish Wilson, Deloitte New Zealand human capital consulting leader, says organisations need to keep pace and meet the demands of this rapidly-evolving business ecosystem.
“By empowering teams, creating a new management model, and developing a younger and increasingly inclusive leadership structure, organisations are reinventing themselves to innovate, compete and thrive,” says Wilson.
“This year’s research clearly indicates that companies are overhauling their organisational structure and shifting toward cross-functional networks of teams in an effort to become more agile, collaborative and customer-focused,” he says.
According to Deloitte, there are a number of factors driving these organisational changes:
“Signs of real innovative change and progress are evident throughout this year’s Global Human Capital Trends report. HR teams are learning to experiment with new ideas and they are making significant steps to upgrade skills. For those that get it right, all of this will lead to stronger, more competitive organisations,” says Wilson.
Other trends relevant to New Zealand workplaces include: