The Hierarchical Structure Of Companies Is Diminishing

The traditional hierarchical structure that is ingrained in companies has started to dwindle thanks to technology advancements putting staff on the same level.

“In the US and Europe – with the advent of technology, the Internet and virtual teams – many staff members do not come to the office to work,” said Philip Tsai, Chairman of Deloitte China. “We try to be at the forefront of all these [developments] because people are our most important asset.”

Tsai believes that even established colleagues need to learn to adopt today’s flexible, technology-driven environment and the younger workforce that comes with it.

The Internet of Things is driving how professions are evolving as well, so it is vital that professionals are able to interpret data and trends. Now, Tsai said that his colleagues spend more time doing big data analysis to identify trends that may have not been as obvious in years past.

Deloitte has utilized these technological advancements to branch into the blockchain sector, with a small team working out their WeWork office space.