Trends Identified
New customer strategies
Boundaries between companies and consumers are fading as people, informed and enabled by the internet, become more aware and demanding. They want personalized offerings and will collaborate with companies to help develop the products and services they desire.
2017
Twelve Forces That Will Radically Change How Organizations Work
Boston Consulting Group (BCG)
A new demographic mix
The global population is aging. After rapid population increases during the 20th century, birth rates have stalled—and even reversed—in many regions. By 2035, one in five people worldwide will be 65 or older.
2017
Twelve Forces That Will Radically Change How Organizations Work
Boston Consulting Group (BCG)
Skill imbalances
The skills and capabilities businesses require are rapidly evolving. Even as automation may yield a surplus of unskilled and semiskilled labor, the digitalization of products and services is creating an enormous demand for skilled digital talent. By 2020, 30% of tech jobs will go unfilled because of talent shortages.
2017
Twelve Forces That Will Radically Change How Organizations Work
Boston Consulting Group (BCG)
Shifting geopolitical and economic power
Talent is more mobile than ever, with workers willing to cross borders and cultures to improve their career prospects. Yet a number of geographic, economic, and political developments are blocking the smooth flow of talent to areas of demand, thereby compounding the overall talent shortage.
2017
Twelve Forces That Will Radically Change How Organizations Work
Boston Consulting Group (BCG)
Diversity and inclusion
As values change across the business landscape, diversity and inclusion, often seen as “nice to have,” are increasingly becoming a necessity—and for good reason. The business case has never been stronger, as studies show that diverse teams are much more likely to foster employee engagement and improve business performance. Diverse teams are 13 times more likely to engage employees than nondiverse teams
2017
Twelve Forces That Will Radically Change How Organizations Work
Boston Consulting Group (BCG)
Individualism and entrepreneurship
Independence is becoming the dominant motivator for a large section of the population, particularly for millennials (born from the early 1980s to the mid-1990s) and Gen-Zers (born in the mid- to late 1990s and after). These younger people tend to get bored doing the same kind of work for long stretches, and they are especially interested in independent careers. Empowered by digital platforms and ecosystems, many are choosing entrepreneurship and self-employment over traditional corporate employment. By 2020, freelancers will constitute 50% of the workforce
2017
Twelve Forces That Will Radically Change How Organizations Work
Boston Consulting Group (BCG)
Well-being and purpose
Millennials and Gen-Zers, who are taking on an ever-increasing role in the workplace, want more from their jobs than just competitive compensation: they are looking for well-being. In a recent survey, 62% of millennials said they want a career with social impact, and 53% said they will work harder to increase that impact. Organizations driven by purpose and values outperform their competitors in revenue, profit and stock performance.
2017
Twelve Forces That Will Radically Change How Organizations Work
Boston Consulting Group (BCG)
Big data and analytics
In an Industry 4.0 context, the collection and comprehensive evaluation of data from many different sources—production equipment and systems as well as enterprise- and customer-management systems—will become standard to support real-time decision making.
2015
Nine Technologies Transforming Industrial Production
Boston Consulting Group (BCG)
Autonomous robots
Robots will eventually interact with one another and work safely side by side with humans and learn from them. These robots will cost less and have a greater range of capabilities than those used in manufacturing today.
2015
Nine Technologies Transforming Industrial Production
Boston Consulting Group (BCG)
Simulation
Simulations will be used more extensively in plant operations to leverage real-time data and mirror the physical world in a virtual model, which can include machines, products, and humans. This will allow operators to test and optimize the machine settings for the next product in line in the virtual world before the physical changeover, thereby driving down machine setup times and increasing quality.
2015
Nine Technologies Transforming Industrial Production
Boston Consulting Group (BCG)