Professor Lynda Gratton - The future of work | London Business School

Summary

In this insightful talk, the speaker delves into the future of work, climate change, and the evolving leadership landscape. They discuss the impact of sustainability on business practices, drawing examples from Unilever's efforts to reduce carbon emissions. The speaker highlights the shifting societal norms, including changing family structures and the rise of dual-career families. The discussion further explores the implications of living longer lives, the need for lifelong education, and a multi-stage approach to careers. The importance of preparing for diversity, rethinking HR strategies, and fostering leadership in complex, transparent environments is emphasized.

Takeaways

• 😀 Climate change will become a central issue in the next five years, influencing the future of work and leadership.
• 😀 Paul Polman of Unilever has emphasized the importance of reducing carbon footprints across production lines and supply chains, making climate goals integral to business leadership.
• 😀 Companies, like Unilever, have adopted flexible working practices to lower CO2 levels, showing that sustainability and employee welfare can align.
• 😀 The future of work will involve managing multiple stakeholders, including societal groups, NGOs, governments, and individuals, requiring leaders to balance different interests.
• 😀 Globalization will continue, with countries like China and India producing large numbers of educated, young people, reshaping the global talent pool.
• 😀 Family structures are shifting, with more dual-career couples, leading to new expectations for work-life balance and career flexibility.
• 😀 Social norms are evolving, with people increasingly choosing to marry individuals similar to themselves, which will influence how people approach work and relationships.
• 😀 As life expectancy increases, particularly with people living to 100, there will be a need for longer careers, lifelong learning, and multi-stage lives.
• 😀 A multi-stage life approach, including periods of education, work, and retirement, will be essential in the future, as traditional career structures break down.
• 😀 Organizations should prepare for diverse work arrangements, including freelancers, joint ventures, and micro-enterprises, rather than relying on traditional models of full-time, lifelong employment.
• 😀 HR strategies need to evolve to support a wide range of workers, including older employees and those with non-traditional career paths, by embracing flexible retirement and de-linking pay from age.

Q & A

How does climate change influence the future of work?

Climate change is expected to become a significant factor in the future of work. As climate change becomes more pressing in the coming years, businesses will need to address their carbon footprints, and climate-conscious practices will increasingly affect organizational strategies, including supply chain management and employee engagement.

What example does the speaker use to illustrate how organizations can address climate change in their operations?

The speaker highlights Paul Polman of Unilever, who implemented a policy requiring general managers to reduce the carbon footprint across production lines and supply chains. Furthermore, managers' bonuses were linked to these reductions, demonstrating how organizations can integrate climate change goals into their business models.

How has Unilever addressed its CO2 emissions in the workplace?

Unilever has taken steps to reduce CO2 emissions by promoting flexible working practices. The company encourages employees to avoid commuting and sitting in air-conditioned offices, which are major contributors to CO2 emissions.

What does the speaker predict about the future of leadership in light of climate change and societal shifts?

The speaker predicts that leadership will need to navigate a more complex, multi-stakeholder world. Leaders will have to engage with various societal groups, NGOs, governments, and individuals, recognizing the interconnectedness of these diverse interests and the impact of climate change on business practices.

What does the speaker mean by the 'backlash of globalization'?

The 'backlash of globalization' refers to the negative reactions and challenges stemming from globalization, including the rebalancing of economic power, migration issues, and the rise of nationalism in some countries. The speaker points out that, despite these challenges, globalization will continue to shape the workforce and talent markets.

How is the talent pool evolving in the context of globalization?

The talent pool is shifting as more countries, especially China and India, produce large numbers of educated young people. However, the speaker notes that there are varying qualities in educational institutions across different regions, which will impact the development of the global talent pool.

What role does family structure play in shaping the future of work?

Family structure influences work patterns, as more people today are choosing dual-career paths. The speaker emphasizes the importance of organizations recognizing and supporting these evolving family structures, which include arrangements where both partners share the responsibility of work and family.

What societal trend is affecting career choices, according to the speaker?

The speaker discusses the trend of 'assorted mating,' where individuals are increasingly choosing partners with similar career and lifestyle goals. This shift impacts how work is structured, especially as people prioritize career success in dual-career families.

How does longevity influence the future of work?

As life expectancy increases, individuals will need to work longer and adapt to a multi-stage life, where they may switch between work, education, and personal development phases. This shift requires organizations to support lifelong learning and career transitions for employees.

What is the implication of the 100-year life concept for the future of work?

The 100-year life concept suggests that individuals will need to work well beyond traditional retirement ages. This requires rethinking career trajectories, financial planning, and the structure of work to accommodate longer, multi-stage lives that blend career and personal development.