95% of the miles driven by 2030 in the US will be in autonomous electric vehicles with life time warranty, nearly zero maintenance, cost per mile as low as 6.8 cents. This change is being pushed by technology and not climate change; Silicon Valley is where the action is and not Detroit.
What will this mean for oil, auto, insurance sectors and the many economies that rely heavy on these industries? The disruption is endless and upon us, large economies, corporations have started to embrace the reality, consumer behavior and totally different economics of running a business – as a HR firm I am wondering what role should/can HR play and what capabilities are needed for HR to be relevant for the future? This is not incremental and if anyone argues what is so different now in comparison to what we have experienced from the age of steam engine to internet, I would simply say that the sheer pace makes it dramatic and the degree of underpreparedness is worrying. HR needs to develop a new breed of leaders to tackle the challenges of this dynamic environment. This is not about cost reduction or radical restructuring; it is about fundamentally reinventing the business and the function. If HR is the custodian or catalyst of change, how is it getting ready?
We at Aon are going through our own share of shifts and being future-ready is critical for us. The recent events of divestiture of our outsourcing business and new acquisitions - Modern Survey, CoCubes, Cut-e in the employee engagement and talent assessments space are some bold steps we have taken in our business. A significant part of our investments are focused on Data & Analytics and digitization of HR. Michael Burke, CEO, Talent, Rewards & Performance, Aon Hewitt, details some of these aspects and how India becomes even more prominent in his interview.
Earlier this year, we concluded the Aon Best Employers India 2017 study and felicitated 19 organizations for their best-in-class talent practices. The challenge was to identify those organizations that have ‘imagineered’ themselves to adapt to the dynamic talent shifts and have delivered a tangible outcome to business. They carry the baton of both concern and hope with great responsibility.
As an organization, we always strive to be passionate, authentic and stay closer to our clients. The empathy and feedback helps us deliver purpose-driven advisory aimed at inspiring people and enabling sustainable businesses impact. We have always benefited hearing from you.
Chief Executive Officer,
Aon Hewitt Consulting India