Interview, Fireside Chat, Conference Presentation
Leadership in Turbulent Times
- Technologies including artificial intelligence and machine learning are projected to become far more critical, with their market acceleration expected to be expedited by the current crisis, prompting a long-term shift toward becoming significantly more technology-savvy.
- Major organizations are planning to transition from immediate crisis response to reinvention strategies that integrate engineering and global megatrends like climate change and urbanization to build a more resilient future.
- In the sector of digital payments, the contactless world is predicted to continue accelerating, with approximately 300 million U.S. Visa credit cards expected to be enabled for contactless use by the end of the current year, a trend driven by consumers shunning cash and checks.
- Visa has committed to digitally enabling 50 million small businesses globally over the next three years to support their viability, while anticipating $18 trillion in total spending will move to digital channels as millions of new users adopt online purchasing.
- Future workforce models are expected to stabilize at a hybrid arrangement where remote work becomes the norm, with at least one-third of the workforce remaining at home and office spaces converting into specialized areas for convening, client meetings, and innovation rather than daily shifts.
- Corporate strategies regarding office capacity indicate a slow return to physical locations with no plans to exceed 50% in-office capacity, and air travel spending is projected to be reduced by 30% or more compared to pre-crisis levels to maintain a financial reset while sustaining client relationships.
- Demographic shifts in work preferences suggest that employees in their 20s and 30s require physical interaction for network building, whereas those 45 and older are more comfortable working remotely, necessitating conscious management of performance evaluations to ensure digital interactions do not skew job assessments.
- Talent retention strategies will increasingly rely on offering flexibility in the "war for talent," as companies risk losing employees to competitors who provide work-from-home options, with leadership noting a lack of rush to bring staff back to offices.
- Diverse talent development is set to become a priority, with specific commitments to create pipelines for people of color through succession slates for top 500 roles, scholarship programs for Black students, and a strategic pivot to address the supply of qualified candidates rather than relying solely on percentage metrics.
- Environmental, Social, and Governance (ESG) factors are expected to receive heightened focus as the crisis acts as a switch, with carbon footprints already recorded as lowered by 17% in April and future efforts anticipated to target wage increases and income inequality.
- Government actions regarding school closures pose a significant risk to gender equity in the workforce, with experts predicting devastating outcomes if children are not returned to school, while anticipating that government subsidy programs will become more active and digitally integrated.
- Corporate diversity efforts face challenges related to the "law of small numbers," where simple percentage increases in minority representation may not yield meaningful change without addressing the underlying supply of qualified candidates and the need for sustained, intentional resource allocation.
- Community-based solutions for child care are anticipated to emerge as neighborhoods collaborate to find lower-risk alternatives to full school reopenings, enabling parents to return to work while managing safety concerns.