What’s Driving the Fundamental Shifts in the Technology Industry?
Within the last decade the technology industry has not only continued to achieve unprecedented growth, but has witnessed tremendous advancements in digitization, digital hardware and other areas. These rapid changes present tremendous opportunity; however, if corporations do not take advantage of these changes, they will quickly become obsolete. Through recognizing the key forces driving these advancements, technology corporations can make rapid changes and prepare for future success. Understanding the key disruptors of change is the first step, but organizations also have to understand how technological shifts are changing their workforce so that they can take the appropriate steps to better manage their employees.
In this first publication from Mercer’s Technology vertical, Mercer experts draw on both their experience within the industry and their research and strategic observations with HR leaders, to present the key disruptors of the tech industry. From here Mercer identifies what is called the ‘Trifecta of Transformations’ which outline the changes HR leaders must understand if they are to make strategic decisions and ensure future success as seen below:
Transformation of work
- Augmentation of work
- Creation of new work
- Rise of autonomous work
Transformation of the workforce
- Rise of the intelligent workforce
- Expanding On-Demand Talent
- Reskilling for the future
Transformation of People Management
- Building tomorrows people managers
- Talent strategies and priorities
The paper concludes by identifying the implications for business and HR leaders, highlighting how to lead, thrive and build tomorrow’s technology workplace today.