The Rise of Social Business

1. Social business in numbers



2. It is the People who create Value for your Business and Clients .

3. Social business is a powerful force of change in culture and
behavior that is transforming the way enterprises work to better
capitalize on our most valuable resource: people

4. 36% better customer service reported by companies using Social Tools
ESG Research Report, Social Enterprise Adoption Trends, June 2012

5. In the next 5 years, 57% CEOs expect digital channels to be the key way to engage customers.
IBM Global CEO Study May 2012

6. 65% of Executives use Social Business tools to understand market shifts
IBM Global C-Suite Study October 2013

7. 70% of Executives believe Social Business can fundamentally change the way business works
MIT Sloan Management Review,
Social Business Study: Shifting Out of First Gear,
David Kiron and others,  July 16, 2013.

8. The rise of mobile technology: With almost 75 percent of the worlds population owning a mobile device, information is not only accessible, but available at our fingertips.

9. According to a study done by Salary.com, 72 percent of candidates are using social connection tools to scour jobs.

10. 10 skills for the Future Workforce ( Marcia Conner)
http://marciaconner.com/blog/ten-skills/


11.  Twitter search  #IBMSWchat  for links & further resources on Smarter Workforce = Future Ready Workforce for Digital Era

12. In the USA right now there are over 3 million unfilled jobs, while in countries like Spain, youth unemployment stands at a jaw dropping 47%. The extent of the gap between what employers need and what the labour market provides in terms of skills and talents seems to be continuously widening.

13. The global skill gap is here to stay for as long as technological advances, globalisation and demography continue to redefine work

14. Executives at Wipro, for example, work with tens of thousands of colleges across India to train teachers to develop IT skills, build state-of-the-art curricula, and encourage students to become what they term work-ready

15. 10 ways to Future Proof your Career by Dr Lynda Gratton
This is 2011 article, however still relevant, for individual employees / professionals to prepare themselves for Future
 ( Timeless wisdom by Dr Lynda Gratton )

http://lyndagrattonfutureofwork.typepad.com/lynda-gratton-future-of-work/2011/06/the-10-ways-to-future-proof-your-career.html

15. Andrew McAfee  Social Technology as major Disruption to Global Economy

http://youtu.be/Y04lZ8F3GjQ


16. IMHO, Future Ready Workforce will constitute Individuals who are LifeLongLearners, who have the ability to learn, unlearn, relearn and reinvent themselves. Who are agile, and make  investment in self education and acquiring new skills.

Future ready workforce also mean networked and collaborative workforce. They know how to collaborate, create trust in virtual environment, reach out to experts across borders and locate expertise quickly at the tip of fingertips to create value for clients. 

Future ready workforce means individual employees may not have all the answers to client problems however have the skills to find the answers and reach out to experts.
Who knows what and who knows whom becomes utmost important , hence the value of networks.

Future ready workforce know how to manage work in a borderless economy.


17. Digitisation is a step change even greater than  the internet. Exponential technology advances, greater consumer power and increased competition mean all industries face the threat

of commoditisation. The winners will act now, and build a strategic advantage that leaves

their counterparts wondering what happened.



18. According to Ernst & Young research, other Generation Y

expectations include:

► Collaborative, networked learning: the average user spends

55 minutes a day on Facebook

► Fast, easy and fun communication: Generation Y adults

spend 15+ hours a week on the internet

► Visible peer recommendations in decision-making: 80% of

consumers believe peer recommendations, but only 14%

trust advertisements

► Immediate feedback: 34% of bloggers post opinions about

products and brands

► Environmentally aware: 96% of Generation Y want an

environmentally aware workplace

► Flexibility: 56% of Generation Y prefer to work flexibly and

choose when to work, and 79% prefer to be mobile rather

than static workers


19. Digital Business Model Creator/inventor Year of birth

Facebook  social networking Mark Zuckerberg 1984

Napster  peer to peer file sharing Sean Parker 1979

Spotify  digital music streaming Daniel Ek 1983

Skype  VOIP telephone network Janus Friis 1976

Twitter  microblogging social network Jack Dorsey 1976


20. The Rise of the Prosumer ( E&Y research)

A Prosumer is a term used for a consumer who is unusually interested in products/

services of a brand. Prosumers will dedicate their spare time to upload reviews and

comments and respond to other reviews and comments about the product. Some

prosumers will record YouTube videos to help other users with technical service

issues of a particular product. These individuals can be very useful sources of product

development ideas, or can be incentivised as a low cost provider of technical service to

other consumers.

21. The digitisation of everything How organisations must adapt to changing consumer behaviour (E&Y Research)

 Customers

► Improve customer experience

► Increase marketing, sales and service effectiveness

► Develop multi-channel strategy

Suppliers and partners

► Improve transaction speeds, lower costs

► Optimise the end-to-end digital supply chain process

► Improve supplier relationship management

► Optimise sales and operations planning

Employees

► Manage organisational change

► Develop social policies and governance

► Develop digital skills and capabilities

► Manage recruitment, retention and talent

Leaders

► Develop a digital strategy

► Assess market and competition

► Design operating model and organisational structure

Millenials at Workplace

By 2025, Millenials will compromise 75% of the workforce acc to World Economic Forum.  Millenials are joining the workplaces in large numbers . Today , if you talk to any of the HR Leader, the top most question on their mind is How to Manage and Engage the Millenials.

Millenials are the people born after 1980. While earlier generations ie Baby Boomers, Gen X followed the top down corporate structure, Millenials like to operate in Networks .

Their mindset is all about networking . They have grown up with new technologies . Social Media is their way of Life. Therefore , Gen Y or Millenials expect different employment experience . They are more comfortable with flat structures vis a vis hierarchies. Command and control style of management doesn’t work with millennials therefore Managers will have to learn to give up control. This is a new management shift that managers will have to deal with caused by rising number of Millenials in the working population. Millenials grew up in an environment where they have a say in everything from electing Leaders to choosing vacation destination for Family.

They want their voices to be heard and have the need to have their inputs in collective decision making. They are not comfortable with decisions being taken at the top and thrown at them which affects their lives directly. The need to lend their share of voice is greater.

At IBM, the policy to use Uber for transportation was shaped because a Millenial wrote a blog that UBER is cost effective . Leaders took note of his blogpost and within 24 hours , policy decision was accordingly modified and adjusted. You cant ignore millennials .

The employer culture, salary, every aspect of working environment is openly discussed at Glassdoor by Millenials. If they don’t like something, they highlight it . Leaders are paying attention to glassdoor in terms of what is being said about their Brand, culture, management, leadership.    

Millennials thrive on fresh goals and challenges to keep them motivated

They embrace technology just like fish to water. Their working lives doesn’t have 9 to 6 schedule but are connected 24 by 7 . In this hyperconnected world, they demand flexibility – the ability to do work anytime, anywhere. Hence more companies are offering Telecommuting or flexi work or work from home to their employees.

Millenials have also started occupying Leaderahip positions at workplaces. So we see, a new breed of startups , and fresh thinking coming up at big corporates. They bring new perspectives of how work gets done . They have underlying desire to shape workplace policies, to make a contribution, to play a role which contributes to society. Their communication style is open and transparent. They are open to be mentored , place emphasis on networking to succeed at work and at life. They demand flexibility and use mobile phone and apps for routine and specific tasks. In fact , they are the ones who are building these new apps for making lives easier.

Millenials are different and shaping up the Future of work and workplaces. It wont be prudent of any Leader to ignore this pool of Talent, to move the organization forward. Invest in Millenials, develop their Leadership skills and learn to include them in decision making to ensure they remain engaged , productive and effective at workplaces.

When we tell people to do their jobs, we get workers. When we trust people to get the job done, we get leaders - Simon Sinek