Its 2018 Human Capital Trends report focuses on the rise of the social enterprise.
While concerns about digitisation and how to adapt in the fourth industrial revolution, the need for skills development and an ageing workforce are prevalent, the most significant issue facing companies this year is the need for realignment among C-suite executives to focus on the evolving role of business in society. This is according to the Deloitte Global Human Capital Trends 2018, which offers insights into the future of work and human capital’s valuable role in shaping it.
With over 11,000 executives from 124 countries participated in the global survey, including 354 South African business and HR leaders, the report is one of the largest of its kind. The theme for this year’s report, “The rise of the social enterprise”, reflects the shift in the growing importance of social capital in shaping an organisation’s purpose, guiding its relationships with stakeholders and influencing its ultimate success or failure.
In the report, South African HR leaders listed the hyper-connected workplace, people data and well-being as most important human capital issues, compared to 2017 when the top three trends, ranked by importance, were the organisation of the future, employee experience and talent acquisition.
This shift reflects the growing importance of social capital in shaping an organization’s purpose, guiding its relationships with stakeholders, and influencing its ultimate success or failure.
Pam Maharaj, Deloitte Human Capital Leader for Africa, said in a press statement:
“In this new era, human capital is inextricably tied to social capital. This reality demands a fundamental pivot in how organisations do business today and how they prepare for the human capital challenges of the future.”
These societal challenges are even more pressing in South Africa, as many communities face dire social and economic issues, she continued. "According to the Stats SA Poverty Report, in 2015, 30,4 million South Africans were living below the poverty line and one in three people living on less than R797 per month. It is now more important than ever for business organisations to intensify their efforts to have a positive impact on their employees, their employees’ communities and our country.”
