DAVOS, SWITZERLAND - A major point of conversation at the World Economic Forum's annual meeting in Davos, Switzerland, this year concerned the future of work during a time of significant technological shifts in the developed world.
At Business Insider's panel, both labor leaders and executives agreed that for companies to thrive during the "Fourth Industrial Revolution" and not leave their employees behind, a focus on internal job-retraining programs would be essential.
Accenture's head of human resources, Ellyn Shook, told us in a separate interview in Davos that Accenture can be a case study for this. Over the past four years, the Dublin-based consulting firm has, Shook said, "reskilled" nearly 300,000 of their total body of 469,000 employees, investing about $1 billion annually in training.
"You need to inspire this work-learn, work-learn mindset," she said. "You're not going to go to school and practice what you learned in school for the rest of your career. That day is over."
Accenture is a large, global company providing a wide variety of professional services to its clients, and employees' roles change at a fast rate. It's been investing in reskilling for employee retention, which keeps it stable and allows it to offer more consistent service.
To make reskilling effective, Shook told us, training has to have an immediate payoff. If an employee receives training and cannot implement new skills for six months, neither the worker nor the company benefits. That's why, Accenture has been refining its "skills pipeline" to reduce this transition time.
And to have this work smoothly, Accenture developed "Job Buddy" software. "And what it does is it tells our people that look, this percentage of your job is likely to be lost to automation; your skills are adjacent to these skills, so go take this training," Shook said. After the pilot program went out 18 months ago, 85% of the employees it was made available to used it to assess their jobs and enroll in new training.
Shook shared an example of an employee from Charlotte, North Carolina, who used Accenture's reskilling pipeline to transition from her position as a mortgage processor to a technologist after the first client no longer needed that service. Over a year later, that employee is thriving, Shook said, and was recently recognized for excellent performance.
"I think the thing that organizations really have to start doing, quickly, is move from workforce planning to work planning and really understand what work is going to be done by machines and what work is going to be done by humans, and make sure that you are investing in your people, to understand how to work with the technology," Shook said. "And I think that's how you're going to future-proof your workforce."
Also from Business Insider South Africa: