Deloitte yesterday announced the launch of its Future of Work Centre of Excellence (CoE); a first-of-its-kind platform which creates solutions that anticipate market disruptions, address the skills mismatch challenge and identify future job requirements.
Based in Singapore, the new CoE will help develop a suite of data analytics, automation tools and workforce-planning cloud models for businesses and governments to address clients’ current and expected workforce needs.
With the support of the country’s Economic Development Board (EDB), the CoE joins SkillsFuture, and various Smart Nation initiatives, in a broader effort to help the nation respond to the changing nature of work, and establish both Singapore and Deloitte as a recognised global leader in the Future of Work.
Punit Renjen, CEO, Deloitte Global said: “Cognitive technologies, robotics and accelerating connectivity are all elements of a seismic shift impacting how and where work is performed. Almost every job will be reinvented as personal expectations of work evolve and essential human skills are augmented by technology.”
“This transformation will require organisations to reconsider how they hire and reskill workers and develop new operational strategies for a more mobile and autonomous workforce. Through this new Centre of Excellence, Deloitte is committed to helping organisations navigate these challenges successfully,” he added.
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Over the next three years, Deloitte will be investing US$20 million (approximately S$27.6 million) in the centre. This not only signals an unprecedented collaboration with Singapore’s government, but also represents one of Deloitte’s largest investments in partnership with another organisation.
“Singapore has critical needs for new learning models, for educational institutions to catch up with new technologies, and for the workforce to embrace new skills and new careers,” Philip Yuen, CEO, Deloitte Southeast Asia said.
“The flagship Future of Work Centre of Excellence will navigate through these challenges and develop solutions in the areas of workforce planning, talent acquisition and automation tools. Just as importantly, it will position Singapore as a global hub, and Deloitte as a global leader, in addressing the opportunities and challenges related to the future of work,” he continued.
The Singapore CoE will serve as the global flagship; with Deloitte also launching CoEs in the US, UK and Canada to advance global Future of Work solutions. In addition to catalysing job creation in Singapore and around the globe, the centre will enable knowledge and skills transfer to Singapore’s core workforce while building local capabilities and labour solutions here.
Starting immediately and over the next three years, the Future of Work CoE will train and employ local and global talent in highly-sought after areas such as data science, UX, HR analytic, actuarial science, and natural language processing.
Dr Swan Gin Beh, chairman of EDB said: “Companies in Singapore have a good track record in using technologies, such as analytics and IoT, to solve real-world business problems. They are also able to collaborate with consulting and technology providers to innovate and develop new services and solutions.”
“We welcome the setting up of Deloitte’s Future of Work Centre of Excellence in Singapore as this will foster even more partnerships and strengthen the ecosystem for technology innovation," he added.
According to the release, Deloitte’s CoE will reinvent how both established corporations and innovative startups leverage emerging technologies to adapt to new ways of working - considering only 11% of business leaders confident they are prepared to build the organisations of the future.
The centre will take an agile approach to the future of work, constantly creating and testing solutions side-by-side with clients to rapidly respond to market shifts and solve complex business challenges.
Indranil Roy, Future of Work lead, Deloitte Southeast Asia explained: “Skills shortages are a constant challenge across our workforce in almost every industry and geography.”
“To adapt to the future of work, businesses will need people with skills that include digital know-how, management capability, creativity, entrepreneurship and complex problem solving. This, in turn, will drive job creation and economic growth for countries,” he concluded.
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