Recently, Denis Machuel, CEO of The Adecco Group, and his senior executives were once again invited to attend the 2024 World Economic Forum (WEF) in Davos. More than 2,800 delegates from more than 120 countries and regions around the world gathered under the theme of "Rebuilding Trust" to discuss long-term strategic topics such as security and cooperation in a divided world, creating growth and jobs for a new era, artificial intelligence as a driver of economic and social development, climate, nature and energy.
△ Adecco Group CEO Denis Machuel attends the 2024 World Economic Forum (WEF) in Davos
According to the World Economic Forum, nearly a quarter (23%) of jobs are expected to change over the next five years, with 69 million new jobs and 83 million fewer jobs. There is a particular focus on developing skills for the "future of work", such as those needed for digital, green and energy transitions. During their time in Davos, Adecco representatives actively engaged with global leaders to delve into key issues affecting the global workforce, focusing on closing the GenAI skills and acquisition gap, and supporting the development of human skills to uplift leaders.
△Adecco Group CEO Denis Machuel (second from left) discusses key issues affecting the global workforce at the 2024 World Economic Forum (WEF).
Summary of key points from Adecco Group Davos 2024:
· People are still in their honeymoon phase with GenAI, but the employment landscape is set to undergo a major shift over the next 24 months. In this context, large-scale and systematic innovation and upgrading of vocational skills is the key to coping with this change.
· One risk that needs to be addressed is the emergence of a polarized workforce: those who are ready to navigate the GenAI transition on one side, and those who are left behind. A human centricity approach must be at the heart of this shift to ensure that all individuals are included and have equal opportunities for development.
· But today's leaders lack the soft and technical knowledge necessary to navigate this digital disruption and effectively guide and empower their employees to make the transition.
△ Adecco Group CEO Denis Machuel (left) is interviewed by CNBC at the 2024 World Economic Forum (WEF).
Denis Machuel, CEO of Adecco Group, presented his innovative concept for the future workforce in a seminar on the theme of "The Race to Reskill" held on the 17th - to invest in people as much as they invest in technology. Under the majestic wave of the GenAI revolution, we need to devote our passion and investment in technology to the cultivation and development of talents equally. Often, when we talk about GenAI, we focus on investing millions or even tens of millions of dollars in technology R&D, and the same amount of money should be used to improve the ability of the workforce to meet the challenges of this transformation.
According to data from a study conducted by Adecco Group on the GenAI skills gap among 2,000 C-level executives, only 43 percent of senior leaders said their top executives are fully prepared and equipped with the skills necessary to understand the risks and opportunities posed by GenAI, Denis said. It is conceivable, therefore, that in the face of this huge capacity gap that needs to be filled, we must work together to prepare people for the challenges of the future.
Referring to the attribution of the cost of investing in human capital, Denis pointed out that current business logic and accounting standards for private companies often treat personnel expenses as a cost on a balance sheet rather than an asset. Denis hopes that as we make progress on sustainability and new accounting standards, particularly on the shift in perception of the social value dimension, we will be able to make it clear at some point that people are human assets that reflect the intrinsic value of a business on the balance sheet, rather than the cost of the balance sheet.
In this time of transformation, we must put people at the heart of everything we think about and make them so rooted in every decision-making consideration. Companies should actively advocate and practice the principle of equality, adopt AI technology in a responsible and prudent manner, and focus on building a "responsible ethical AI" barrier. This barrier is essential to protect individuals, ensure employability throughout the transition, and promote ethical, non-discriminatory AI development and use.
△德科总裁 Christophe Catoir(右)出席在达沃斯举办的2024年世界经济论坛(WEF)
△Adecco CSMO Valérie Beaulieu (second from left) attends the 2024 World Economic Forum (WEF) in Davos
△ Akkodis President Jan Gupta (left) attends the 2024 World Economic Forum (WEF) in Davos
About Adecco Group:
The Adecco Group is a Swiss-based HR consulting and solutions provider that offers every worker the opportunity to create and realize their dreams of the future, with operations in 60 countries and markets, around 100,000 customers and 39,000 employees. In 2022, we generated €23.6 billion in global revenues and €6.2 billion in public revenue, serving 500,000 people every day. In China, we have more than 20,000 customers, achieved 15.8 billion RMB in revenue and 2 billion RMB in tax revenue in 2022, serving 1.5 million people every day. (The above Chinese data is an independent statistical result of local joint ventures and is not included in Adecco's global statistics.) Headquartered in Shanghai, Adecco China established FESCO Adecco in 2010 as a joint venture with Beijing Human Resources Group (FESCO), an A-share listed state-owned enterprise, to provide human resources outsourcing services. In 2021, LHH was introduced and established as a joint venture with FESCO to provide human resources solutions for employees' career life cycle and enterprise transformation and transformation. In addition, Akkodis provides engineering consulting and R&D services to enterprises and currently operates wholly in China.
About us
FESCO Adecco is China's first human resources service agency and one of China's largest comprehensive human resources service enterprises, FESCO Group (Beijing Human Resources, 600861) and The Adecco Group, the world's leading human resources consulting and solution provider, established in Shanghai in 2010. Comprehensive human resources services such as personnel and payroll services, recruitment and headhunting and process outsourcing, employee welfare services and digitalization. At present, FESCO Adecco has set up regional offices in many important regions across the country, including Shanghai, Chongqing, Zhejiang, Shenzhen, Suzhou, Shaanxi, Hunan, Anhui, etc., serving more than 2 million people and more than 28,000 customers nationwide.