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Future work now

EY presented at the 22 World Petroleum Congress, focusing on the changing dynamic of work, the impact and expectations of the future workforce.

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Future work now

  1. 1. Future Work Now Michelle C. Seale Principal, Strategy Oil & Gas | Ernst & Young LLP
  2. 2. Page 2 Future Work Now Why
  3. 3. Page 3 Future Work Now The Fourth Industrial Revolution represents an existential threat to companies in every industry
  4. 4. Page 4 Future Work Now Employees more likely to stay at a purpose-driven company1. 3x The amount of new technical information is doubling every two years2. 2x Jobs will be displaced by 2030 as a result of technology advances3. 2billion Number of jobs the average college senior will have by age 384. 10–14 of Fortune 500 companies from 2006 no longer exist5. 50 % Sources: 1. The Energy Project, What Is Your Quality of Life at Work, 2013 2. Quartz, 3. EY research 4. Association of American Colleges and Universities – The Economic Value of Liberal Education 5. Richard Foster, Yale University
  5. 5. Page 5 Future Work Now Employees are now more diverse and distributed than ever Projected gap in the US workforce by 2020.17million of US workers work from home some or all of the time.45% Gen X “Email me” Traditionalist “Write me” Boomer “Call me” Millennial “Text me” Full-time Contingent RobotsMobile/traveler
  6. 6. Page 6 Future Work Now We as an ecosystem will have to respond to the impact of robotics on our processes and employees — adaptive learning and “human skills” will be required of our future workforces. Source: time-is-spent-on-tasks-machines-could-do Source: workforce-ai// Source:
  7. 7. Page 7 Future Work Now Change is now a continuous factor that is happening at a rate never before seen … By 2020 more than 75% of the S&P 500 will be companies that we haven’t heard of yet. — Richard Foster, Yale University “When it comes to the future of work, a late adopter is the same as out of business.” — Jacob Morgan
  8. 8. Page 8 Future Work Now How do you respond to the complexity of these workforce dynamics in this environment of ever increasing change?
  9. 9. Page 9 Future Work Now What
  10. 10. Page 10 Future Work Now Future Work Now is a transformational program designed to help companies create an agile, flexible and resilient workforce that is capable of thriving in the digital economy.
  11. 11. Page 11 Future Work Now Our program consists of seven levers we believe are central to creating this new capability Identifying an aspirational reason for being, serving as the backbone of the FWN experience. Identifying and developing new competencies necessary to effectively lead in the digital age. Understanding role and team fit in an effort to customize techniques by employee type and improve overall performance. Helping employees bring their best self to work by increasing individual mindfulness and removing internal stressors in response to external stimuli. Harnessing technology to create persona-based experiences to influence engagement, adoption and productivity. Setting the ideal motivations and rewards to create an inspired individual, team and organization. Creating synergy between people’s work experience and physical environment.2 Global digital leadership 3 Teaming ability 4 Mind clarity 5 Technology experience 6 Performance and rewards 7 Physical environment 1 Collective Purpose
  12. 12. Page 12 Future Work Now Future Work Now integrates your operating model with your operating environment Business model
  13. 13. Page 13 Future Work Now Our Story
  14. 14. Page 14 Future Work Now Trends challenging EY, igniting our journey Low EY Workspace Satisfaction Index Average age of EY an employee. 32 Minutes average EY employee commute time 30–60 EY people, on average, in the office at any given time. 43% Employees part of an organization with a greater sense of purpose are 1.4x more engaged and 3x more likely to stay. Smart machines will replace 1 in 3 jobs by 2025. of employees would switch to a more empathetic company for equal pay. of employees would stay with a company that empathized with their needs. In 2013, the average office space allotment shifted from 200 to 150 square feet per employee. Virtual and network teams composed of varying employees dominate the new landscape. 56% 35%
  15. 15. Page 15 Future Work Now Transformation journey 3. Teaming ability Relentless pursuit of the best fueled by the caliber of our people, the effectiveness of our teams and the strength of the relationships we build. 5. Digital leadership Developing and preparing our people to lead in the digital age. 7. Physical environment Align the strategies of IT, HR and Real Estate finding a balance between cost, productivity, recruiting, retention. 6. Collective purpose Commitment to our collective purpose of Building a Better Working World. 1. Mind clarity Committed to helping each person bring more present moment awareness to our lives and work, increasing the physical, mental and emotional well being of our people. 4. Performance and rewards Transforming the way we attract, develop and retain the best talent to meet the evolving needs of our people. 2. Technology experience Continued focus on leveraging technology to increase engagement, collaboration, efficiencies and productivity. 1 2 3 4 7 6 5 Promote a trust-based flexible environment that enables our people to deliver exceptional client service, individually and through our highest performing teams, and helps to attract and retain the best talent Provide energizing and efficient workspaces supported by current technology that enables our people to work fluidly both in and out of the office Assist clients to create a strategic direction and road map to align the strategies of IT, HR, Real Estate, Communication, Change Management and Workplace Services
  16. 16. Page 16 Future Work Now Learn more about Future Work Now and Talent at
  17. 17. Page 17 Future Work Now Michelle C Seale Principal, Strategy Oil & Gas Ernst & Young LLP Author biography Michelle is a principal in EY’s strategy service based in Houston, Texas. She leads the strategic transformation service for Oil & Gas in the Americas. She has 25 years of experience leading large-scale transformational programs in the energy sector including oil and gas, mining, and power and utilities. Her focus is on the end-to-end strategic considerations of any transformational program such as strategy definition, operating model, organizational design, KPIs/metrics, performance management and governance. She led the transformational program for Suncor in Canada when they acquired PetroCanada’s downstream assets, which included all change management implications within business operations. She also lead the change management program for Sasol in South Africa to implement a new operating model and organizational structure, as well as the change management implications associated with end-to-end process redesign and technology enablement.
  18. 18. EY | Assurance | Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit How EY’s Global Oil & Gas Sector can help your business The oil and gas sector is constantly changing. Increasingly uncertain energy policies, geopolitical complexities, cost management and climate change all present significant challenges. EY’s Global Oil & Gas Sector supports a global network of more than 10,000 oil and gas professionals with extensive experience in providing assurance, tax, transaction and advisory services across the upstream, midstream, downstream and oil field subsectors. The Sector team works to anticipate market trends, execute the mobility of our global resources and articulate points of view on relevant sector issues. With our deep sector focus, we can help your organization drive down costs and compete more effectively. © 2017 EYGM Limited. All Rights Reserved. EYG no. 04498-174GBL BMC Agency GA 1005401 ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice.