The 2020 Deloitte Global Human Capital Trends report

By Dr Lydia Cillié-Schmidt

One of the highlights for me from a learning perspective every year is reading the annual Deloitte Human Capital Trends report. I find the thought leadership in  these reports exceptional. This year Deloitte released their tenth report called “The Social Enterprise at work: Paradox as a path forward” (https://www2.deloitte.com/us/en/insights/focus/human-capital-trends.html).

The first thing that I found interesting was the summary of the trends over the past ten years and to see how the trends evolved over time. Deloitte also provides an overview of the ten years in the report by discussing three  periods, namely:

  • The early decade: Emerging from the shadow of the recession
  • The mid-decade: The future of work arrives
  • The late decade: Enter the social enterprise

Deloitte divided the trends for 2020 in three groups, based on the set of attributes associated with the social enterprise at work, as summarised in the following table:

Attribute Trends Brief description
Purpose: An organisation that doesn’t just talk about purpose but embeds meaning into every aspect of work every day Belonging:

From comfort to connection to contribution

When workers appreciate how their individual work helps to advance goals they support and find meaningful, they will likely be more engaged, more motivated, and more likely to perform at a high level.
Designing work for well-being:

Living and performing at your best

Integrating well-being into the design of work itself can strengthen the link between worker well-being and organizational performance, supporting well-being not just for individuals but for teams and for the organization at large.
The post-generational workforce:

From millennials to perennials

Looking beyond generation to segment the workforce according to individual behaviors, values, and attitudes can help organizations to meet workers’ needs and expectations in ways that are more meaningful to them and more beneficial to the enterprise.
Potential: An organisation that is designed and organised to maximise what humans are capable of thinking, creating and doing in a world of machines Superteams:

Putting AI in the group

“Superteams”—groups of people and intelligent machines working together to solve problems, gain insights, and create value—are the next step in AI’s continuing integration into the world of work.
Knowledge management:

Creating context for a connected world

For organizations that are struggling with knowledge management, new technology solutions can help. But beyond technology, organizations must also help workers understand that sharing their knowledge makes them more relevant, not less.
Beyond reskilling:

Investing in resilience for uncertain futures

A system that invests not just in workers’ near-term skill needs but also in workers’ long-term resilience can help build long-term organizational resilience in a world where the only constant is change.
Perspective: An organisation that encourages and embraces a future orientation, asking not just how to optimise for today but how to create value tomorrow The compensation conundrum:

Principles for a more human approach

Basing compensation strategies on five enduring principles of the social enterprise can help organizations navigate an uncertain environment and make bold, effective forward-looking choices.
Governing workforce strategies:

New questions for better results

To make bold choices today, leaders need to understand what the future may hold through metrics that can help them anticipate risks, inform strategy, and prepare for the future of work, the workforce, and the workplace.
Ethics and the future of work:

From “could we” to “how should we”

As tough ethical issues posed by the future of work emerge, the question to ask is not just “Could we” but also “How should we”.

I have just started to explore the report and am looking forward to the webinar on Friday 22 May 2020 by Deloitte in which Deloitte will discuss the 2020 Global Human Capital Trends to learn more on how organizations can embrace the three new attributes.

Dr Lydia Cillie-Schmidt