We predicted what the business world of 2040 would look like with the formation of a new corporate structure that resembles a circuit board. Real companies will have virtual locations and the HR Department is going to become a lot more significant in terms of employee retention, attraction, and lowering turnover rates for companies. A report card system will be implemented to grade companies and rank employees - just the way students are incentivized in school. We are shifting towards a more educational model and are interested to see how the knowledge economy of 2040 will endorse the most tech-savvy and diverse employees known to the business scope.
5. YEAH BUT
…• Reduces power
distance
• Separation of HR and
External HRM
• Incentivize employees
• Emphasizes cultural
fit; not just positional
• Increases
communication
• Increases cost
structure
• Long-term adjustment
required
• Power delegation will
face criticism
• Negative ripple effects
occur due to structural
misplacement
15. the ‘aha’ moment.
ASSETS
Smith $5,000
Jasmeen $8,000
Rick $10,000
Ezra $15,000
HUMAN CAPITAL
VALUATION
SCORECARD
Smith 30/50
Jasmeen 40/50
Rick 42/50
Ezra 50/50
Productivity, project success/failure
rate, Client relations, cost-benefit
analysis, training, etc.
17. potential questions.
• What are the key implications of centralizing HR as
opposed to the CEO and BoD?
• How can the resistance experienced by
organizations reduced to increase the chances of
adapting the circuit board structure?
• Explain the significance of the external HR
department?
• Explain your rationale for the gradual
disappearance of social media platforms by the
year 2040.
• What are the ramifications of moving from a
physical location to a virtual location?
• How do you see HCM being measured by the year
2040?
Editor's Notes
Intro [we are “scientists” predicting the future]
Spoken word intros
Agenda
abeeha
abeeha
Abeeha & Gary
PROS:
-Allows for less power distance between levels of employment.
-Splits the task of the HR department with the external HRM department for efficiency and non-bias in report card decisions.
-Applies incentives for workforce to complete their tasks successfully for their final reports.
-Improves on honesty within the corporation for random checking.
-Culturally fits all roles in their place for success.
-Improves communication within the corporation.
CONS:
- More costly than the current structure due to the increase in external committees
Changes will be faced with a lot of resistance for the first few years; may face criticism, specifically in terms of sustainability
Going against the tradition of the CEO/BoD being at the core of the organization and giving power to the HR department will face criticism b/c HR is currently known as people who just breathe in an organization [super useless]
If one part of the organization is misplaces in the circuit board, it can affect many other parts of the organization
Abeeha & Gary
Gary
- Experience the most ethnically diverse workforce.
- Collaborative learning is practiced and encouraged.
- Bilingualism and multilingualism will be key assets.
Age will no longer be a barrier for entry in the workforce.
Gary
The increase in the competitive landscape of employers and employees implies that organizational politics will further foster inter as
well as intra organizational rivalry amongst employers and employees. On a positive note, the acceptance and dominance of global markets will
result in a decrease in the level of ambiguity and uncertainty experienced by employers and employees as they become more aware of the
significance of “when in Rome, do as the Romans do.” The lack of ambiguity can allow organizations to prepare contingency plans, which further helps them thrive despite political turmoil in the global marketplace
Abeeha
Although there will be a shift towards sustainability becoming a prominent aspect of the business model by the medium term, it will become a legally mandatory aspect by 2040. It will no longer be a differentiating factor for companies to be green, thereby making it more difficult to capitalize on this concept. The triple bottom line [economic, environmental, and social performance] will become highly cohesive with business strategies. The external HRM department will also works closely with an external Ethics Committee to ensure all organizations are annually assessed on key measurements such as the carbon footprint they generate, how appropriately materials are recycled, and how the company’s processes can be enhanced to ensure their operations are limiting the amount of greenhouse gases and other harmful chemicals produced. The annual Ethics report card will ensure that organizations are able to consistently improve and use their prior results as a benchmark for direct comparison
Abeeha
Abeeha
- Technology is a catalyst for learning.
- Physical locations turned into virtual locations, requiring for use of technology proficiently and efficiently by the workforce.
- Job insecurities for those who do not have capabilities to work with advanced technology.
- Social media will not be as prevalent, or even non-existent.
HRM's inability to assess how to value workforce leads to the creation of a customized intranet interface for employees.
Human hand meets robot
Gary
Abeeha
Abeeha
The Airport Process:
•Book a ticket -> Go To Airport -> Regular Security Check -> Random Security Check ->FLY!
•The 2040 Screening Process:
•Apply-> Get The Job -> Work -> Year End Survey -> Random Checking's -> Approve!
Gary
Gary – assets
Abeeha – scorecard
Conclusion
FAQ:
HR central to org implications?
Numbers [resistance]
Website interface
Pros and cons
boD positioning
External HR department
Ethics committee
Tech vs face to face and where do we draw the line
Virtual –discrepancies can be tracked much better and there is higher accountability, prevention of blame game]
How do we counter resistance
