A new report by Boston Consulting Group highlights the need to shift from mass standardization to unlock the full potential of human capital. A skills mismatch that affects 1.3 billion people worldwide is imposing a 6% annual tax on the global economy in the form of lost labor productivity.
From getting the necessary education to dressing for the job you want, investing in your career can put a serious dent in your finances. Here’s how to make sure you’re getting your money’s worth. Figuring out the appropriate level of career investments is never going to be easy, but the following guidelines can help you decide if a financial outlay is worthwhile.
AI disrupts bureaucratic systems by flattening hierarchies, democratizing decision-making, enhancing transparency. It also equips employees with actionable insights and enables experimentation. Leaders must transition from control to curiosity, from authority to empathy, from hesitation to decisiveness, from delegation to empowerment and from obfuscation to transparency.
Companies aiming for significant performance improvements may have tried top-down or bottom-up approaches to transformation—either relying on senior management alone or on programs that seek to change employee mindsets. But there is a third way. Our recent experience with organizations across industries and geographies reveals that a team-centric approach to transformation ushers in lasting, significant gains.
Paradoxically, the technology can help HR professionals have a more human touch—and at a lower cost than ever before. By enabling drastic efficiency in transactional tasks, it frees up HR professionals to refocus on their expertise and play a more strategic role.
