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Punit Renjen

Punit Renjen

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Global CEO at Deloitte
  • The Fourth Industrial Revolution has already begun and will continue to fundamentally reshape society and business in key ways. Today, business leaders, economists, civil society and policymakers alike worry about the impact artificial intelligence will have on the future of work.

    However, as this

    The Fourth Industrial Revolution has already begun and will continue to fundamentally reshape society and business in key ways. Today, business leaders, economists, civil society and policymakers alike worry about the impact artificial intelligence will have on the future of work. 

     

    However, as this article shows, an undercurrent of anxiety has surrounded every industrial revolution in human history. That is why at Deloitte, we view the Fourth Industrial Revolution as an opportunity for positive growth and skills development. We believe technology will augment human work, not replace it. It is critical that global organizations like Deloitte properly prepare for the changes to come by investing in workforce development through skills training. Deloitte is pursuing that goal through our WorldClass initiative, which aims to empower 50 million people – particularly young women and girls – by equipping them with the proper skills and education needed in a rapidly changing economy and increasingly automated workplace.

     

    Every era of societal development has growing pains, but if companies approach the 4IR with the right strategic mindset, they have a chance to emerge stronger than before.

  • The 4th Industrial Revolution will represent a fundamental shift in the way the world does business. The tech industry will see perhaps the most marked upheaval of any sector in the coming years: per a 2019 Deloitte insights report, industry experts anticipate that 65 percent of the 4 million jobs in

    The 4th Industrial Revolution will represent a fundamental shift in the way the world does business. The tech industry will see perhaps the most marked upheaval of any sector in the coming years: per a 2019 Deloitte insights report, industry experts anticipate that 65 percent of the 4 million jobs in India’s IT and ITES industry today will likely change over the next five years.

    However, it can also be an opportunity, not only for global corporations, but particularly for businesses in rapidly developing countries like India where business leaders can take advantage of new technologies to target and expand to previously inaccessible customers. We work closely with companies in India doing just that, from communications to education to healthcare.

    With 45,000 employees in India alone, Deloitte is also focused on developing a workforce that can meet the challenges and opportunities of the Fourth Industrial Revolution. Through leadership pipeline programs such as the Deloitte Young Leaders Program, the Deloitte Leadership Program for Women and many others, Deloitte recognizes the importance of providing our young people with enhanced leadership development.

    The business leaders interviewed in this piece highlight two key themes: leadership and technology. By focusing on the former through training and professional develop programs, Deloitte hopes to position its workforce to skillfully tackle opportunities and challenges concerning the latter. Doing this will allow us to address the 4IR head-on.

  • Ensuring that all children have access to high-quality education is personal to me. It’s also vital for business, whose future workforces depend on a strong educational foundation. That is why Deloitte’s WorldClass initiative in India is committed to expanding equal access to quality education and skills

    Ensuring that all children have access to high-quality education is personal to me. It’s also vital for business, whose future workforces depend on a strong educational foundation. That is why Deloitte’s WorldClass initiative in India is committed to expanding equal access to quality education and skills training to children across the country. We have focused in particular on women and girls, who are often excluded from educational and workforce opportunities.

    Our efforts to impact the lives of 10 million women and girls throughout rural and urban India by 2030 through WorldClass are already underway, helped by strategic partnerships with not-for-profits and our clients. Our collaboration with the Indian non-profit Katha strives to enhance the joy of reading among children from low-income communities by providing access to culturally relevant and engaging reading content and fostering critical thinking and creativity at the grassroots level. We are also working to implement teacher training programs to help instructors tailor learning activities and materials to achieve proficiency in reading and math through a partnership with another Indian NGO, Pratham.

    As we continue to build out and refine our efforts in India, Deloitte hopes to serve as an illustrative example and resource for others on the impact businesses can have in creating pathways and powering innovative solutions to global issues.

  • It is true that the nature of work has changed dramatically since the turn of the century, as this article notes.

    As an organization that hires nearly 90,000 people a year, Deloitte understands the wide range of skills young people need in order to succeed in today’s rapidly evolving global economy

    It is true that the nature of work has changed dramatically since the turn of the century, as this article notes.

    As an organization that hires nearly 90,000 people a year, Deloitte understands the wide range of skills young people need in order to succeed in today’s rapidly evolving global economy. That’s why we work both internally and externally to help the next generation of leaders build the skills needed for the jobs of today and tomorrow.

    A Deloitte mentorship program at Canada’s largest agency serving at-risk youth has helped young people build job-readiness and soft skills. In India, we are positively impacting the lives of 10 million girls and women by 2030 through education and skills development. In Papua New Guinea, we are helping schoolchildren read and write their way to a better future by providing books, computers and pro bono support. Within our own company, we offer professional development retreats, mentoring and coaching and networking opportunities to young professionals.

    Our hope is that we may help young people around the world – like those in this article and beyond – achieve their career aspirations.

  • There’s tremendous opportunity for business to make a meaningful impact in India by helping create pathways for women of all ages to fulfill their aspirations, including entrepreneurship and business ownership. For India to compete effectively on the global stage and realize its full potential, businesses

    There’s tremendous opportunity for business to make a meaningful impact in India by helping create pathways for women of all ages to fulfill their aspirations, including entrepreneurship and business ownership. For India to compete effectively on the global stage and realize its full potential, businesses need to help invest in high-impact solutions now—solutions that enable girls and women to access quality education and develop the skills needed to succeed. Through WorldClass, Deloitte’s commitment to help 50 million people succeed in the new economy, we intend to help drive transformational change and positively impact 10 million women and girls in India by 2030 by enabling access to education, skills development (including entrepreneurial skills), and job opportunities.

  • Today’s leaders can also learn from another pioneer and adventurer: Sir Edmund Hillary, who made two crucial decisions in his ascent to Mt. Everest. First, he ensured he had adequate support by joining an expedition; and second, he partnered with a high-altitude mountaineer from Nepal. The lesson here

    Today’s leaders can also learn from another pioneer and adventurer: Sir Edmund Hillary, who made two crucial decisions in his ascent to Mt. Everest. First, he ensured he had adequate support by joining an expedition; and second, he partnered with a high-altitude mountaineer from Nepal. The lesson here is with the right support network and a dedicated expert by his side, Hillary achieved what no one else had. Complex challenges require teamwork. Leaders today should remember this when navigating the Fourth Industrial Revolution: Strategic alliances and ecosystems can take you to new heights – or depths depending on where you’re going.

  • When nearly 200 influential CEOs can agree on the need for change, it could be a sign the change was long overdue. The fact is, business cannot succeed if society fails. And it’s up to us to work together to contribute everything that business knows to address society’s most difficult challenges. At

    When nearly 200 influential CEOs can agree on the need for change, it could be a sign the change was long overdue. The fact is, business cannot succeed if society fails. And it’s up to us to work together to contribute everything that business knows to address society’s most difficult challenges. At Deloitte, we measure success by the triple bottom line of people, profit, and planet. Our purpose-first mindset fuels our growth, and I’m pleased to see we’re in good company.

  • Humankind has innovated so many remarkable achievements - from eradicating disease to walking on the moon - that it’s unfathomable it has taken so long to achieve gender equality.

    At Deloitte, we not only have a global commitment to accelerate women into leadership roles but, in line with SDG 5, our

    Humankind has innovated so many remarkable achievements - from eradicating disease to walking on the moon - that it’s unfathomable it has taken so long to achieve gender equality.

    At Deloitte, we not only have a global commitment to accelerate women into leadership roles but, in line with SDG 5, our WorldClass initiative aims to support 10 million girls and women in India by 2030 through education and skills development. All across the globe, Deloitte has set measurable commitments to gender inclusion internally and externally to do our part toward closing the gender pay gap.

    We are committed to holding ourselves accountable through initiatives like these, but there is still much more for us to do to create sustained change - the findings highlighted in this article plainly underscore that fact. Let’s make gender equality a crowning human achievement.

  • This report’s findings speak for themselves: where there is higher representation from women, businesses succeed and innovation thrives.

    Deloitte global member firms have made commitments to gender inclusion. Our partnership with Girls Who Code funds scholarships to close the gender gap in technology

    This report’s findings speak for themselves: where there is higher representation from women, businesses succeed and innovation thrives.

    Deloitte global member firms have made commitments to gender inclusion. Our partnership with Girls Who Code funds scholarships to close the gender gap in technology. And in India, our WorldClass program aims to support 10 million girls and women by 2030 through education and skills development.

    But that’s just the start. Businesses must continuously and thoughtfully engage on issues of gender inclusion in order to truly succeed.

  • In each industrial revolution, it is true that certain jobs are eliminated, but it is also true that other jobs are created – that is, it is not always a zero-sum game. Organizations with a strong sense of purpose beyond just the bottom-line are those that tend to navigate these transitions well.

    At

    In each industrial revolution, it is true that certain jobs are eliminated, but it is also true that other jobs are created – that is, it is not always a zero-sum game. Organizations with a strong sense of purpose beyond just the bottom-line are those that tend to navigate these transitions well.

    At Deloitte, we see technology as augmenting human work, not completely replacing it. Our WorldClass initiative aims to empower 50 million people to succeed in a rapidly changing global economy by 2030 through education and skills development.

    Businesses – working alongside policymakers, education organizations, civil society and others – must be ready to help mitigate any job displacements to ensure a more inclusive future of work.