Training Industry Magazine - March/April 2020 - 58

CLOSING
DEALS

ERNST & YOUNG'S INVESTMENT
IN THE MODERN LEADER
BY TARYN OESCH

Over the last five years, according
to Ernst & Young's "2019 Global
Review" report, the firm has made 140
acquisitions, resulting in $1.8 billion in
combined revenue. These acquisitions
have been in a range of business
areas; EY's four main service lines are
assurance, advisory, tax and transactions
advisory services. Within its advisory
business is a unit called "people advisory
services" (PAS), which helps "clients
gain a competitive people advantage by
addressing complex workforce issues
ranging from organization transformation,
effective talent deployment and mobility
to reimagining human resources within
global organizations," according to
the report.
In other words, EY is no longer just an
accounting firm, and this expanded focus
is reflected in its January acquisition of
PeopleFirm - a management consulting
firm specializing in workforce and
organization strategy, performance
management, diversity and inclusion,
leadership, and culture.
"PeopleFirm's advanced performance
management methods, rooted in content
and data, will help further the resultsfocused work of EY PAS," says Kim
Billeter, EY Americas PAS leader. Talent
management and talent development
are changing, and organizations are
looking to companies like EY to help
them adapt.
KEEPING THE HUMAN AT
THE CENTER
Billeter stresses the need to "see people
as a strategic asset for their organization's
success," staying "human at the center." As

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a result, more organizations are investing
in developing a strong employer brand
and being purpose-driven and socially
responsible "to attract and retain talent."
"Ultimately, we're trying to put the human
at the center of the employee experience,"
says M. Tamra Chandler, founder of
PeopleFirm and now a partner and
principal at EY, as well as design learning
and development (L&D) accordingly. In a
world characterized by automation and
digitization, it's more important than ever
for leaders to focus on the human beings
they lead.

WHILE TECHNOLOGY
IS DISRUPTING TALENT
DEVELOPMENT, IT'S
ALSO CREATING NEW
OPPORTUNITIES.
INVESTING IN EMPLOYEE
DEVELOPMENT
"The talent supply chain is under pressure
like never before as the gig economy is
changing the workforce," says Billeter.
Indeed, Training Industry's 2020 trends
report identified the gig economy as
having a significant impact on L&D.
Demographic changes and disruptions
in skills and business models will require
leaders to rethink how they develop
talent. Successful organizations will
use "a comprehensive, agile strategy,
supported by well-governed processes,
smarter technology and deeper
insights," Billeter says.

Fortunately, while technology is disrupting
talent development, it's also creating new
opportunities, "making it easy to empower
people to own their careers and their
development," Chandler says. "It simply
requires organizations to invest in the
content and hand over the keys to the
employees." Successful leaders make the
growth of their employees a top priority.
TRANSFORMING THE ORGANIZATION
A
transforming
world
requires
transformation in the organization - which
requires transformative leadership skills.
These skills include cultural awareness
as the world shrinks, Billeter points out.
Chandler adds, "Thoughtful leaders
need to be ready to help the teams and
individuals they support thrive in today's
chaotic world. That means connecting
their people to a compelling purpose" and
creating a work environment grounded
in psychological safety. Organizations
should "nurture these behaviors" by
expecting, training and rewarding them.
"Talent is on the minds of all executive
these days," Chandler says, and Training
Industry research concurs: Almost all
surveyed executives believe L&D is
important to achieving business goals.
This shift in leaders' perspectives on
training puts L&D leaders in the position to
play a critical role in driving organizational
strategy and transformation. Fortunately,
as major corporations like EY (and Korn
Ferry) continue to add to their portfolio of
talent solutions, learning leaders will not
be at a loss for potential partners.
Taryn Oesch is the managing editor of
digital content at Training Industry, Inc.
Email Taryn.

https://www.ey.com/en_us/global-review/2019 https://www.ey.com/en_us/global-review/2019 https://www.trainingindustry.com/press-release/performance-management/ernst-young-llp-expands-its-people-advisory-services-business-with-acquisition-of-peoplefirm/ https://www.trainingindustry.com/press-release/performance-management/ernst-young-llp-expands-its-people-advisory-services-business-with-acquisition-of-peoplefirm/ https://www.trainingindustry.com/glossary/psychological-safety/ https://www2.trainingindustry.com/Executive-Perspectives-on-the-Business-Impact-of-L-and-D https://www.trainingindustry.com/magazine/nov-dec-2019/trends-2020-the-broadening-role-of-ld/ https://www.trainingindustry.com/magazine/nov-dec-2019/trends-2020-the-broadening-role-of-ld/ https://www.trainingindustry.com/press-release/sales/korn-ferry-completes-acquisition-of-three-leadership-development-companies/ https://www.trainingindustry.com/press-release/sales/korn-ferry-completes-acquisition-of-three-leadership-development-companies/

Training Industry Magazine - March/April 2020

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