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Pat Petitti, Catalant

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Pat Petitti's presentation from Catalant's Reimagining Work Summit Fall 2018.

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Pat Petitti, Catalant

  1. 1. DISRUPTING What we’re learning about ourselves from you and the market
  2. 2. Many companies are slow to innovate and increasingly are failing to stay competitive DISRUPTIVE INNOVATION IS ACCELERATING 32 52% CB Insights, Collections: A CRM for Innovation, 2015 of S&P 500 companies have disappeared in the last 15 years 33 14 1965 1990 2026 Average tenure (years) of companies in the S&P 500 Innosight, Corporate Longevity: Turbulence Ahead of Large Organizations, 2016. 60% of companies say it takes a year or longer to create new products 9% 35% 60% 6 Months or Less 7 to 12 Months 13+ Months Average time from ideation to new product launch CB Insights, State of Innovation: Survey of 677 Corporate Strategy Executives, 2018.
  3. 3. — Clay Christensen, Professor, Harvard Business School Author, The Innovator’s Dilemma “ Most companies segment their markets by customer demographics or product characteristics and differentiate their offerings by adding features and functions. But the consumer has a different view of the marketplace. He simply has a job to be done and is seeking to ‘hire’ the best product or service to do it. 33
  4. 4. Retail DISRUPTED INDUSTRY 34
  5. 5. DISRUPTED INDUSTRY 35 Financial Services
  6. 6. Mobility DISRUPTED INDUSTRY 36
  7. 7. Energy DISRUPTED INDUSTRY 37
  8. 8. Get mission critical work done faster Our customers’ job to be done 38
  9. 9. Adapting with agility: Changing how work gets done is imperative WHAT WE ARE HEARING FROM CUSTOMERS 39 How can we get mission critical work done faster? Find the right people Companies must draw from internal and external talent pools to access the best talent and stay competitive Access the right skills Companies need to define core vs. non-core skills and expertise, and build their organizations accordingly Deploy the right teams Teams must be nimble, specialized, and dynamically deployed against defined missions to keep up
  10. 10. Strategic initiatives are slowed down by lack of access to critical skills WHAT WE’RE HEARING FROM CUSTOMERS & THE MARKET 40 56% 80% 2011 2018 CEOs concerned about “availability of key skills” PwC, 21st CEO Survey: The Anxious Optimist in the Corner Office, 2018. 84% Catalant, Catalant CHRO Survey, 2016 of executives believe that most great people, ideas, and capabilities lie outside the walls of their company 47% Catalant, Reimagining Work 20/20: A Vision for the Future of Work, April 2018 of companies take greater than 90 days to fill critical roles
  11. 11. agile organizations produce better results and are healthier than competitors THE ROI OF OPERATIONAL AGILITY 41 1% 16% 19% 23% 26% 29% 36% 39% None of the above Greater employee… More innovation Faster time to market Increased market share Greater operational efficiency Greater customer… Higher revenues Benefits most likely to be reaped, if company’s agility and speed increased McKinsey, Building a Nimble Organization: A McKinsey Global Survey, 2006. 70% McKinsey Quarterly, Why Agility Pays, December 2015. Of agile organizations rank in the top quartile of organizational health 5xDevelop products faster agile organizations can: McKinsey, Leading agile transformation: The new capabilities leaders need to build 21st-century organizations, October 2018. 3xMake decisions faster
  12. 12. Optimizing organizational structures is key TRANSITIONING TO AN AGILE OPERATING MODEL 1. Infosys, The Agile Operating Model of the Future: How a Highly Flexible and Responsive Organization Will Be Positioned for Lasting Success, 2018. 2. Accenture, Adapt to Survive: An Agile Operating Model for the Digital Age, 2018. 42 CHANGES Governance Process Workforce Technology Culture Metrics and incentives HOW THINGS WILL BEHOW THINGS WERE
  13. 13. Key Characteristics: Ecosystem, liquid and modular WHAT IS AN AGILE OPERATING MODEL? World Economic Form & Accenture, Operating Models for Future Consumption, January 2018. 43 ECOSYSTEM Flexible independent workers Approved firms and consultants Alumni, retirees and other affiliates Full-time employees Centralized functions and shared services Find the right people LIQUID Access the right skills MODULAR Deploy the right teams
  14. 14. INITIATIVES Accelerate, enhance and streamline value delivery: From strategy to execution faster FASTER, MORE EFFICIENT GROWTH 44 Execution Business strategy and vision Business model WORKSTREAMS PROJECTS Agile Operating Model
  15. 15. WORKSTREAM VISIBILITY ● WORKFORCE INSIGHTS ● KNOWLEDGE MANAGEMENT Accelerating work and access to talent to get work done OUR PLATFORM TODAY 45 Demand Supply ALGORITHMIC MATCHING APPROVE & REJECT PROPOSALS IDENTIFY SKILLS & EXPERTISE DEFINE WORKSTREAMS v PRIORITIZE INITIATIVES ACCESS TALENT POOLS
  16. 16. Our programmatic approach is informed by best practices learned in partnership with leaders at 30% of the F100 OUR POINT OF VIEW 46 1 Competitive companies need a more agile operating model to work on mission-based initiatives and projects 2 Leading companies focus on mission-based projects and skills, not just full-time jobs and employees 3 Agile organizations focus on talent access, not just talent acquisition and retention 4 Managers of tomorrow need to be trained to lead and manage teams made up of a mosaic of talent 5 A centralized platform is critical to dynamically capture skills, execute projects and engage talent
  17. 17. Looking into the future How is Catalant thinking about disrupting itself?
  18. 18. Technology, expectations, and infrastructure are changing how people work WHAT WE’RE SEEING FROM YOU AND THE MARKET 48 30432 27919 24306 21306 17725 14411 11100 7805 436 14 2022 2021 2020 2019 2018 2017 2016 2015 2010 2007 Global number of coworking spaces Emergent Research, Number of US and Global Coworking Spaces & Members, December 2017 McKinsey Global Institute, Independent work: Choice, necessity, and the gig economy, October 2016. people in the US and Europe engage in some form of independent work 162,000,000Today, 68% of enterprises’ workloads run on cloud platforms. In 2020, 83% will be, enabling more collaboration across boundaries than ever.”. LogicMonitor, CloudVision 2020: the Future of the Cloud, 2018. “ COUNTRIES #1 ASKS FROM EMPLOYEES USA, Japan, Canada “Offer more flexible work options” Australia, Germany “Enable quick decision-making” UK, South Africa, Italy, India “Understand my unique interests and skills” Mercer, Mercer Global Talent Trends Study, 2017
  19. 19. Approved firms and consultants Employees Alumni and retirees Management tools Basic platform features Platform As an agile operating platform that enables access to talent ecosystems, we will become source-agnostic with a marketplace of external marketplaces WHAT WE BELIEVE 49 COMPANIES Expert Marketplac e
  20. 20. 50 Big DataAICloud RoboticsIoT Quantum Computing NanotechnologyAdditive Manufacturing Autonomous Vehicles 5th Generation Wireless (5G) 5th Generation Wireless (5G) INDUSTRY 4.0
  21. 21. Artificial intelligence is transforming how both managers and employees work, and we must reimagine how we help work get done WHAT WE BELIEVE 51 DECISIONS ON WORK THAT NEEDS TO GET DONE AI-Enhanced Decision-Making WORK THAT NEEDS TO GET DONE AI-Completed Project Work
  22. 22. What’s next We innovate by partnering with leaders on the cutting edge
  23. 23. Thank you. Pat Petitti Co-Founder & Co-CEO pat@gocatalant.com

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