How is technology impacting the needs of your business or those of your clients?
Globalization, shifting social values and changing workforce demographics are transforming how work gets done, who does it, and even what it looks like. Historically, technological change has driven long-term economic growth, productivity and improved living standards; it even results in net job creation. But the near-term effects of technological advancements, especially those evolving with today’s unprecedented rate of change, may create challenges for both workers and employers.
For example, more than half a million U.S. manufacturing jobs remain vacant because of a lack of workers with the appropriate tech skills to fill those roles. Employers also have to contend with the new freelance economy, created by the ‘internet of everything’ and largely driven by Millennials, which is dependent on Jason Downing employees who spend no longer than 16 months with a particular organization. Future businesses will need people with digital knowhow, management capability, creativity, entrepreneurship, and problem-solving abilities. These attributes may form the core set of desired professional skills, with social adeptness at times taking precedence over technical expertise. This creates an opportunity for employers to offer dynamic learning and development opportunities and flexibility policies that are inclusive of workers of all ages.
North Texas is home to some of the most cutting-edge and innovative companies in the country. In your own words, what can this be attributed to?
North Texas has a diverse economy comprised of Fortune 500 companies (and many corporate headquarters), private and family-owned businesses and universities, combining the right resources, tools and people to create a hub for developing innovative technologies. The region’s ability to foster emerging companies is in part driven by collaboration between large corporates and startups. There’s a spirit of camaraderie and mentorship between the market’s established business leaders and early-stage companies that’s both helping entrepreneurs grow their startups and attracting smaller enterprises to North Texas. This collaboration and ongoing dialogue is helping nurture an already strong local talent pool and creating a business community where entrepreneurs feel they can thrive. At Deloitte, we work with organizations like the Capital Factory, Dallas Entrepreneur Center and Dallas Innovates because we strongly believe in North Texas’ ability to become a highly competitive tech hub. We’re proud to share our time, resources and knowledge to help early-stage companies reach the next level.
A version of this Thought Leaders article was first published in Dallas Innovates 2019—The Magazine.
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Dallas Innovates 2019—The Magazine explores the region as a rising tech hub that will shape the future of innovation. The theme of our second annual print publication, “A Breakout Moment,” explores why now is the time for the region to grab its place in the tech universe.
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