Big Idea: Future of the Workforce Research Highlight

Create a Crisis Growth Plan: Start With Opportunity Marketplaces

Successful strategic execution may depend on this emerging talent management strategy.

David Kiron, Jeff Schwartz, Robin Jones, and Natasha Buckley Reading Time: 10 min 

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Future of the Workforce

The Future of the Workforce initiative explores divergent strategies, as some organizations seek to make their human resources more transactional while others look hard at how to make better bets on longer-term human capital cultivation and returns.

IN COLLABORATION WITH:

Deloitte
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The COVID-19 pandemic has completely disrupted how most global enterprises operate. With new priorities comes an urgent and strategically important challenge: ensuring that enough of the right people are working on the right opportunities at the right time, all while operating in an investment-constrained environment. Organizations should have visibility into their workforce capabilities and deployments to make informed decisions about how to optimally allocate their workforces.

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Based on recently released research on opportunity marketplaces,i we contend that market mechanisms can be a faster and more effective way to address this challenge than traditional workforce planning and deployment methods. There is evidence of organizations using marketplaces to accelerate the redeployment of employees and workers to business-critical roles and projects in a variety of industries and circumstances. These marketplaces can also have a beneficial effect on workers: They can sustain employment, reveal untapped worker capabilities, and motivate workers in new ways.

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Topics

Future of the Workforce

The Future of the Workforce initiative explores divergent strategies, as some organizations seek to make their human resources more transactional while others look hard at how to make better bets on longer-term human capital cultivation and returns.

IN COLLABORATION WITH:

Deloitte
See All Articles in This Section

About the Authors

David Kiron is the editorial director of MIT Sloan Management Review, where he directs the publication’s Big Ideas program, a content platform examining macro-trends that are transforming the practice of management. He has coedited two books on economics and coauthored more than 30 journal articles and research reports on AI, strategic measurement, performance management, analytics, leadership, digitalization, and sustainability. Jeff Schwartz, a principal with Deloitte Consulting LLP, is the U.S. leader for the Future of Work and Catalyst Tel Aviv (formerly the Innovation Tech Terminal [ITT]). Schwartz is an adviser to senior business leaders at global companies focusing on workforce and business transformation. He is the global editor of the Deloitte “Global Human Capital Trends” report, which he started in 2011. Robin Jones is a principal at Deloitte Consulting LLP with more than 20 years of organization and workforce transformation consulting experience. At Deloitte, Jones leads markets and services for Workforce Transformation, where she advises senior executives on strategy and execution of large-scale future-of-work initiatives. Natasha Buckley, Deloitte Services LP, is a senior manager in Deloitte’s Center for Integrated Research, where she analyzes the progress global organizations are making in their digital transformations. Her research focuses on topics such as digital transformation, the future of work, and technology ethics.

References

i. M. Schrage, J. Schwartz, D. Kiron, et al., “Opportunity Marketplaces,” MIT Sloan Management Review and Deloitte, April 2020.

ii. Schrage et al., “Opportunity Marketplaces.”

iii. L. Weber, “50,000 Jobs, 900,000 Resumes: Coronavirus Is Redeploying Workers at Record Pace,” The Wall Street Journal, April 15, 2019, www.wsj.com.

iv. D. Kiron, “What Sells CEOs on Social Networking,” MIT Sloan Management Review, Feb. 7, 2012, https://sloanreview.mit.edu.

v. C. Stone, “How This Economic Crisis Can Make the ’20s Roar Again,” Money & Markets, April 29, 2020, https://moneyandmarkets.com.

Acknowledgments

The authors thank Michael Schrage for his contributions to this article.

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