Can you hear the shift change whistle? Because today the whistle is blowing for the accounting profession. The shift change is the transfer of the retiring baby boomers to the next generation of leaders that will be taking the helm in the next few years. Except this time it is not the same as the shipyard. This time the incoming shift will require a new set of skills and tools to continue the work of the prior shift. This time it’s different.
The three mega-trends of technology, demographics, and globalization are causing shifts in five fundamental areas. This shift is causing a decline in many existing business practices and the rise of new business practices in what the Institute for the Future calls their two curve theory. I recently got to sit down with Marina Gorbis, Executive Director of the IFTF and here is what she had to say:
Here are the five fundamental areas I see changing for accounting and business:
- Leadership – A recent Harvard Business Publishing study found only 32% of business leaders believe that their organizations have the right leadership to achieve their strategic goals and cope with the current business environment.
- Learning – L>C, flipped classrooms, participation and engagement are the new normal.
- Technology – hyper-connected, mobile, social, cloud, and big data.
- Workplace – Work is no longer a place we go, but what we do – open, collaborative, and flexible.
- Generations – Generation gap, generation lap, and 2 for 1 (Boomers to Xers).
In this briefing, I focus on the top way to make the shift change – Learning and talent development.
Using our learning framework, the Bounce, you can see how a systematic and strategic approach to your talent development can accelerate your way across the “shift change”.