We are living in increasingly uncertain times…

Innovating in 60,000
employee upskilling 50,000

Riaz Shah 40,000

Professor of Practice – Leadership & Innovation
Hult International Business School 30,000
Partner, Global Learning Leader, EY
20,000

10,000

Q4
0 1990
2022
Source: FRED, March 2023

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Our world is increasingly uncertain… Global fertility rates are down…

4.83

Developed country
replacement rate is 2.1
GEOPOLITICS ECONOMIC UNCERTAINTY GLOBALISATION SUSTAINABILITY 3.75

3.31

2.73
2.59
2.31 2.27
DEMOGRAPHICS TECH DISRUPTION CHANGING CONSUMERS PANDEMIC(S)

19 70 19 80 19 90 20 00 20 10 20 22 20 30

Total fertility rate

Source: U N W orld Population Prospects 2022

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© 2023 Riaz Shah 1

 World total fertility rates for larger countries Brazil’s population pyramid
Fertility Population Fertility Population
World 2.3 7.8bn Median age 2022 2023
2050
2040
2030
► DR Congo 6.1 90m ► Vietnam 2.0 97m Japan 49
► Nigeria 5.2 213m ► Turkey 2.0 85m Germany 46 Brazilians
► Tanzania 4.7 64m ► Bangladesh 1.9 169m France 42 over 65:
► Ethiopia 4.0 120m ► France 1.8 65m UK 41 31%
► Pakistan 3.4 225m ► Colombia 1.8 52m US 38
► Kenya 3.4 53m Russia 1.8 145m
►
China 38
► Egypt 3.2 110m ► USA 1.7 337m
► China 1.7 1,411m
Brazil 33
► Philippines 2.5 111m ► Brazil 1.7 214m Indonesia 30
► South Africa 2.3 60m ► UK 1.6 67m Mexico 29
► Indonesia 2.2 276m ► Germany 1.6 83m India 29
► India 2.2 1,515m ► Thailand 1.5 71m Philippines 24
► Myanmar 2.1 54m ► Japan 1.3 125m Nigeria 18
► Iran 2.1 88m ► Italy 1.3 59m Brazilians
► Mexico 2.1 127m ► South Korea 0.8 51m under 20:
20%
Source: populationpyramid.net based on UN data from October 2022
Total population for countries with >50m people: 76% of the world total
Source: UN World Population Prospects 2022 and macrotends.com Peak population of 230m in 2040 (213m today)

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We’re all suffering from skills shortages Brazil also has a skills shortage…
13 February 2023
USA, Feb 2023: Skills crisis sees 65% of London firms struggle
0.6 people per vacancy to fill vacant posts
500k fewer people in work in the UK than 2019
6.3
12 January 2023
4.6 Germany struggles with growing worker
People per vacancy

shortage across the entire job market

11 Aug 2022
Aging Spain Issues Rallying Call for
0.8 0.5
Workers From Latin America

13 Jan 2022
China Government: by 2025, there will be a
Source: US Bureau of Labor Statistics, April 2023 shortage of 30m manufacturing workers

Source: Manpower Group, 2022

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© 2023 Riaz Shah 2

 Employees want flexibility New sources of talent
Think tasks, not jobs
54% of employees say they’re likely to quit if they’re not offered the flexibility they want*
In the office

Automated
Where I work What work I do When I work A job
You can now
engage talent unbundled
from anywhere into
in the world.
Who I work with Why I work How I work tasks
Remotely

Automation Offshoring Older Parent Part- Disabled Carers Gig

The more of these an employer offers, the more engaged people will be workers returners timers workers workers

* EY Work Reimagined Survey, April 2022 (17,000 people in 22 countries)

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Technology is changing everything The most common jobs in the USA

Representing 25% of all US jobs

Personal care aide 4.3 m

Retail salesperson 3.7 m
Drivers 3.7 m
Fast-food worker 3.5 m
AUTOMATED WAREHOUSES CASHIERLESS STORES BIOTECH
Cashier 3.2 m
Cleaners 3.1 m
Registered nurse 3.0 m
Manual laborers 2.8 m
Office clerk 2.8 m
Customer service rep 2.8 m
Secretarial and admin 2.4 m
Waiters 2.5 m
Stockers 2.2 m
Source: US BLS data sourced March 2021
AUTONONOMOUS VEHICLES ADDITIVE MANUFACTURING ENERGY TRANSITION

PLUS METAVERSE, QUANTUM, 5G/IOT, BLOCKCHAIN, ETC

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© 2023 Riaz Shah 3

 Generative AI: art

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Generative AI: voice ChatGPT: a rap about ctrl>cltr

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© 2023 Riaz Shah 4

 Now tech is coming for professional jobs too
5 April 2023
Coding
Researchers Content creators The Fashion Jobs
Most Vulnerable to AI
Designers Legal assistants
GENERATIVE What does all this mean for jobs?

Journalists AI Accountants 20 January 2023

People Shouldn't Worry That

Teachers Financial analysts AI Will Take Their Jobs
Customer service

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Technology and jobs We’re facing a talent challenge

A. Will technology destroy jobs B. Will technology create jobs

or downscale jobs? YES or upscale jobs? YES
We’re suffering
skills shortages Tech is changing
We have
falling birth rates the nature of work

Will B offset A?
Three key
Will we have enough time to retrain A people for B jobs?
questions
What’s the impact in the long run? Reskilling is crucial
Answer Nobody knows yet.
Even if we don’t face mass unemployment, we will face mass redeployment
A challenge for governments, NGOs, and corporates

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© 2023 Riaz Shah 5

 Rethinking corporate education
How can we prepare our 400,000 people for the We designed 5 levels of EY badges: Learning,
future? Bronze, Silver, Gold and Platinum.

We designed EY Badges as a global program to EY Badges are earned through learning and
meet the need to upskill our people. applying that learning through experiences.

• 400,000 people The EY Badge domains cover not only the EY Badges has helped us to better recognize
• 140 countries, 750 offices technology skillset needed for the future, but also
the leadership mindset needed to succeed.
and retain people, brand ourselves better with
potential recruits and more easily find highly
• Assurance, Tax, Strategy & Consulting skilled people quickly to deliver to clients.

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EY Badges develop future focused skills The EY Tech MBA by Hult

TECHNOLOGY
Impact of EY Badges
LEADERSHIP BUSINESS (n=56,547 unique Badge earners)

► Digital ► My Purpose ► Business

► Analytics ► Better Me ► Strategy +11pp
► Data Strategy o Agility ► Finance Advance to high
► Artificial Intelligence o Curiosity ► Marketing
performance
► Blockchain o Wellbeing ► Supply Chain & Ops
► Cloud ► Better Us ► Sectors: (26) +1pp to 20pp
► Intelligent Automation o Inclusion & Belonging Utilization
► Cybersecurity o Inspiring
EY Tech MBA on Youtube
Quantum Computing o Teaming
►

+2pp https://www.youtube.com/watch?v=xoUy8dlLXe4
► IT Architecture ► Transformation
Retention
► Microsoft ► Innovation
IBM
The EY Tech MBA is an online masters degree
► ► Sustainability
designed by EY and awarded by
SAP Responsible Business
>370k >310k
► ►
Hult International Business School,
► ServiceNow a triple-accredited university.
Badges earned Badges in progress

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© 2023 Riaz Shah 6

 EY Tech MBA by Hult: why is it a world first? EY’s Three Degrees
Impact of EY Tech MBA
1. Future-focused (n=97 graduates)

EY sets the constantly updated curriculum,

based on EY Badges, which involve +7%
learning and practical application. Intent to stay

2. Flexible 2X
Available to anyone at EY, anytime (it’s virtual) Value of sales
and over any duration. EY Tech EY Masters in EY Masters in

Graduates by
June 2023
MBA Business Analytics Sustainability 6X
3. Free Promotion
No charge. 250 10 19
Graduates Graduates graduates
We now have 250 graduates of the (7 cohorts) (1 cohort) (1 cohort)
EY Tech MBA by Hult

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No child dreams of doing dull work…

The new era

demands
bolder ideas
Globally, only 15% of employees feel
82,000 hours actively engaged at work (Gallup 2021)

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© 2023 Riaz Shah 7

 teenagers the weekend

How bold are we willing to be?

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The largest ever trial of the four-day week Our three stage lives

• UK, June – Dec 2022

• 61 companies, 3,000 workers
• 100-80-100 model

92% 57% 37% 0-21 years 22-65 years 65+ years

of firms reduction in saw health
continuing the staff leaving improvements
4-day week

• Companies rating: 8.3/10

• 15% said that no amount of money would
make them accept a five-day job.

Source: 4 Day Week Global Report, February 2023

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© 2023 Riaz Shah 8

 Rethinking our three stage lives

The Future is Uncertain

even^more

0 20 40 60 80 100
How can you empower people to live a portfolio life?

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You don’t need to have the answers. Our role in HR

has never been more important
You need to ask
The world needs our help
the right questions. Human Resources has never been more crucial
We have an incredible opportunity to shape the future

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© 2023 Riaz Shah 9

 “Crisis” in Chinese
Innovating in
employee upskilling
Riaz Shah
Professor of Practice – Leadership & Innovation
Hult International Business School

Partner, Global Learning Leader, EY

Danger and Opportunity

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© 2023 Riaz Shah 10