Business Impact in a Changing World: With Dean Scott DeRue & Deloitte Consulting CEO Dan Helfrich

Jazmyn Becker, MBA ‘21: Good evening, everyone. Thank you so much for joining us tonight for business impact in a changing world Jazmyn Becker, MBA ‘21: My name is Jasmine Becker and I’m an MBA to at the University of Michigan Ross School of Business Jazmyn Becker, MBA ‘21: And I’m so excited to be joined today for an engaging conversation with Dean Scott Drew and Deloitte Consulting CEO Danielle French Jazmyn Becker, MBA ‘21: And this conversation today is for you for the over 500 of you who are tuned in. So we will be using interactive polls. Some of the questions you submitted in advance, as well as a live Q AMP a feature Jazmyn Becker, MBA ‘21: So to get started, again, Scott. And, Dan, thank you for joining us and I would love to just start with a bit more about your history with your current organizations and what values drive how you lead in this changing world Dan Helfrich, Deloitte Consulting CEO: Well, Jasmine, I can start. It’s great to be with team, Michigan. I am joining you from just outside of Washington DC and McLean Virginia where I am here with Dan Helfrich, Deloitte Consulting CEO: My 14 agers and my wife Christy, which is quite a party. We’re actually we’re also fostering dogs right now. So there’s somewhere between two and seven dogs running around the house at any at any point in time, you asked for a quick history Dan Helfrich, Deloitte Consulting CEO: I was an MBA actually from Georgetown University. I got two degrees from Georgetown joined Deloitte straight out of Georgetown Dan Helfrich, Deloitte Consulting CEO: And like many people who go into the consulting field assume that I would be there for three years and go do something great in the world and three years has turned into 20 something and Dan Helfrich, Deloitte Consulting CEO: I’ve been fortunate to do a ton of different things inside Deloitte my started in the Cleveland office and I know we have a good Northeast Ohio contingent in the Michigan crew, including the bacilli family Dan Helfrich, Deloitte Consulting CEO: Who has a strong affinity to Deloitte and then I’ve spent the majority of my time outside DC including running our government Dan Helfrich, Deloitte Consulting CEO: Our government business and then 18 minutes 18 MONTHS AGO, I GOT tapped on the shoulder to ask if I would become the CEO of the business. And it’s been a Dan Helfrich, Deloitte Consulting CEO: 18 months at a time since felt like 18 years, to be honest, and then to answer your last question Dan Helfrich, Deloitte Consulting CEO: How, how have I lead, I would tell you, I hope I’ve led the same way I lead before the pandemic and before social justice became a Dan Helfrich, Deloitte Consulting CEO: front page headline. And that’s, I hope I lead with integrity with humility and I think perhaps most importantly, right now with transparency to all the many stakeholders who, you know, and livelihoods that I have responsibility for Jazmyn Becker, MBA ‘21: How about you, Scott Dean Scott DeRue, Ross School of Business: And Jasmine. I appreciate it. And, Dan, thank you so much for joining us this evening. It’s, it’s real privilege and pleasure short history. I actually started my career in a firm that Deloitte now owns monitor Deloitte Dean Scott DeRue, Ross School of Business: And the strategy practice there. So for me this is like a full circle experience in many ways Dean Scott DeRue, Ross School of Business: But after a wonderful five ish years there decided I love business and I love education. And if you put those two things together. The only thing you want to be in life as a business school professor. And so that was the the route that I charted for myself and Dean Scott DeRue, Ross School of Business: arrived here at the University of Michigan back you know almost 14 years ago now and it’s been an amazing journey Dean Scott DeRue, Ross School of Business: And, you know, Jasmine to your, to your question Dean Scott DeRue, Ross School of Business: Around how we lead in these times, like Dan I you know I hope I am leading in ways that are consistent with how we lead pre pandemic Dean Scott DeRue, Ross School of Business: And and if I think about what hasn’t changed as a result of the last eight months and everything that’s happened the pandemic Dean Scott DeRue, Ross School of Business: And and everything that’s happened around around the globe. Most recently with the elections here in the US is the things that haven’t changed is our commitment to our mission our values Dean Scott DeRue, Ross School of Business: Putting our people first focusing on our academic mission and unwavering commitment to the student experience. Those are things that are fundamental to who we are in our DNA Dean Scott DeRue, Ross School of Business: And so no matter what’s going on in the world around us. Those are the North those values and that sense of mission and commitment to our student experience that is the North Star, Dean Scott DeRue, Ross School of Business: That guides everything we do and you know whether it’s in Deloitte, or whether it’s here at the University of Michigan in the law school if we lead with those values, then you know really good things happen and we’re able to deliver on our mission. Yeah Jazmyn Becker, MBA ‘21: Thank you. And I know both of you kind of touched on this briefly but the pandemic. So let’s get started with that first question, how do you think the pandemic has impacted Deloitte, the consulting industry and higher education. So Dan would love to hear from you first and then Scott

Dan Helfrich, Deloitte Consulting CEO: I would say it’s impacted us in our profession profoundly Dan Helfrich, Deloitte Consulting CEO: But that profoundly isn’t all negative and and so I’m going to start with the positive. What I’m what I’ve been pushing from what I believe our profession needed for some time Dan Helfrich, Deloitte Consulting CEO: Is an impetus to change the way that we work to be much more experience based much more virtual and to change the rhythm of Dan Helfrich, Deloitte Consulting CEO: Vision, you have in your head of a consultant, who’s on an airplane and in a hotel room Dan Helfrich, Deloitte Consulting CEO: Most of the time of their life. And the reason I’ve always felt like we needed to change that is because a I’ve been confident we can do the work, or lots of the work virtually be Dan Helfrich, Deloitte Consulting CEO: From a well been standpoint, I think, breaking up the rhythm of travel and the rhythm of work is more sustainable long term and then see Dan Helfrich, Deloitte Consulting CEO: We are. We’re a big challenge as it relates to climate and the amount of carbon that we as a profession, you know, consume is a challenge. And so Dan Helfrich, Deloitte Consulting CEO: What the endemic has taught us because we as a firm, we’ve been really successful in this moment we transition from having Dan Helfrich, Deloitte Consulting CEO: You know, probably 15% of our workforce working from home to 94% of our workforce working from home in a matter of a couple weeks Dan Helfrich, Deloitte Consulting CEO: And we’ve had no quality issues at all. And so more people have pressed the I believe button as to the type of change, we could make in the way that we work then could have happened before the pandemic now Dan Helfrich, Deloitte Consulting CEO: I start with the positive, have there been challenges. There are many challenges and the biggest challenges, frankly, are about the lives and well being of our people every day. As they deal with Dan Helfrich, Deloitte Consulting CEO: incalculable stress and that stress is partially professional stress, but lots of it is stress from economic uncertainty political uncertainty health uncertainty Dan Helfrich, Deloitte Consulting CEO: And you know Scott talked about trying to have the ultimate student experience, you know, our culture is about trying to have the number one talent experience for all our people and that’s harder to do during this pandemic than than ever before Jazmyn Becker, MBA ‘21: Yeah, thank you for that. And Scott for you. How has the pandemic, you know, impacted higher education Dean Scott DeRue, Ross School of Business: Profoundly I’m not even sure I have the words to fully describe Dean Scott DeRue, Ross School of Business: The, the range of impacts. But I mean, if you think about it, there’s actually a lot of similarities between the Deloitte experience and the higher education or business education experience Dean Scott DeRue, Ross School of Business: At its core, we’re both service providers right Dan and his team are providing consulting services. We’re providing Dean Scott DeRue, Ross School of Business: Education and all of its different flavors and forms and like Dan with Deloitte. There are some things that have changed that have been positives and there’s other things that are real challenges that we continue to figure out Dean Scott DeRue, Ross School of Business: You know, the, the, the first most obvious thing that’s changed is how we design and deliver our education Dean Scott DeRue, Ross School of Business: You know, going into if I go back to March 12 Dean Scott DeRue, Ross School of Business: We basically shut down the university for two days and migrated 46,000 students from Residential Education to remote education Dean Scott DeRue, Ross School of Business: Right. That was certainly not easy and then coming back for the fall. It was that it was quite different, because for the Ross School. We had 50% of our courses Dean Scott DeRue, Ross School of Business: Online all remote and 50% of them hybrid where you’ve got some students remote some students in the classroom that required new technology, new training and development for faculty new course designs and so a lot of change in disruption Dean Scott DeRue, Ross School of Business: And so the obvious part of that change is figuring out how we do what we used to do all in person now in these hybrid or virtual formats Dean Scott DeRue, Ross School of Business: The less obvious but possibly more impactful in a positive way is beginning to reimagine what is possible from an education perspective Dean Scott DeRue, Ross School of Business: Now that we are distributed and in these hybrid formats. So it’s not just about doing what we used to do in a virtual or hybrid format, but also rethinking and reimagining what is possible, given the technologies

Dean Scott DeRue, Ross School of Business: And given the the the hybrid or virtual designs and so there’s been new ways of designing education that I think will actually stick beyond Dean Scott DeRue, Ross School of Business: The pandemic, knock on wood, whenever that that may end hopefully sooner rather than later Dean Scott DeRue, Ross School of Business: The other thing that’s really changed for us is how we connect how we engage how we create a sense of community and bring our culture to life, whether that’s for our students, our faculty our staff, our alumni Dean Scott DeRue, Ross School of Business: Like Deloitte. We’re a very collaborative community. And so to bring that culture and sense of community together when we have Dean Scott DeRue, Ross School of Business: physical distance around the globe. We’ve had to really rethink how we do that in terms of engagement and connection and a sense of Dean Scott DeRue, Ross School of Business: togetherness and I think we’re still figuring that out. And so that’s one of the the challenges that whether you’re in education consulting how you create that sense of community and connectedness Dean Scott DeRue, Ross School of Business: Whether it’s with your employees with your, your clients with your students. It’s so vital to to what we do and and. So that has dramatically changed Jazmyn Becker, MBA ‘21: Thank you for that. And I appreciate you guys sharing that insight. On just culture and some of the Silver Linings you’ve been able to find during this time Jazmyn Becker, MBA ‘21: So now we turn to this community with our first poll question I focused on challenges and opportunities. So you’ll see here a poll that will pop up and we’ll do these throughout the conversation today, what would be most important to you in accepting a position in the consulting industry Jazmyn Becker, MBA ‘21: Leave that open for a couple of seconds Dan Helfrich, Deloitte Consulting CEO: Scott. What’s your prediction about which is going to be the most highly voted Dean Scott DeRue, Ross School of Business: On I don’t wanna. I don’t want to skew the responses as they come in and Dan Helfrich, Deloitte Consulting CEO: Shifting Dan Helfrich, Deloitte Consulting CEO: I’m going to guess that the first one will be the most selected answer Dean Scott DeRue, Ross School of Business: So I would, I would go with first or second Dean Scott DeRue, Ross School of Business: And I can tell you that when I was in a position of looking for a job in consulting Dean Scott DeRue, Ross School of Business: The first one was my answer Dean Scott DeRue, Ross School of Business: But in hindsight, the thing that made the biggest difference for me and consulting was actually number three. Okay Dan Helfrich, Deloitte Consulting CEO: And I assume that is both access to leaders within the consulting firm and with clients, which I think is one of the cool things about the profession. No, no Jazmyn Becker, MBA ‘21: Green will take a look there and nice predictions, team so yeah its ability to work on new different clients and or projects. So Dan, I just love some of your reflections on the poll results there Jazmyn Becker, MBA ‘21: As you see those kind of play out Dan Helfrich, Deloitte Consulting CEO: I believe that any management consulting firm worth its salt provides people an experience that’s like pressing fast forward on your development Dan Helfrich, Deloitte Consulting CEO: And so you come join us and you join us for two years. I want to give you four years of Dan Helfrich, Deloitte Consulting CEO: Professional Development. You come here for four years. I want you to leave if you leave with eight years of development and I think Dan Helfrich, Deloitte Consulting CEO: That actually comes from the intersection of number one and number three on this list Dan Helfrich, Deloitte Consulting CEO: It does come from variety, because you get exposed to a broader set of topics, a broader set of industries, a broader set of people Dan Helfrich, Deloitte Consulting CEO: And it also comes from being able to observe and work with a wider variety of leaders and Dan Helfrich, Deloitte Consulting CEO: For someone like Scott. That’s a foundation that allowed him to go be a great alumni of monitor in a different industry but applying those lessons for someone like me Dan Helfrich, Deloitte Consulting CEO: That variety has persisted and so it’s never, you know, it’s never gotten older, and though I’ve had plenty of chances to go do something else, to be honest, I’ve never, I’ve never actually thought about it Dan Helfrich, Deloitte Consulting CEO: Because the variety has been so enriching Jazmyn Becker, MBA ‘21: That’s wonderful. And Scott for you and you’re talking to students about a career consulting or another path. What are you hearing and how are you preparing students for this new way of business Dean Scott DeRue, Ross School of Business: Well, I think a lot of students and you can see it in the response it in many ways consulting is an extension of business school where you continue to accelerate

Dean Scott DeRue, Ross School of Business: Your perspective, your understanding of business, your ability to think critically, your ability to build teams. You are my time in consulting those five ish plus years Dean Scott DeRue, Ross School of Business: You know, to Dan’s point in hindsight, and I don’t think I even appreciated it in the moment Dean Scott DeRue, Ross School of Business: That really was 10 years of development for me from a professional career development skills, the ability to lead build teams Dean Scott DeRue, Ross School of Business: Understand clients solve problems. It is one of the most developmental experiences. And if you find a career in consulting great you know that’s that’s Dan’s path Dean Scott DeRue, Ross School of Business: If you don’t, you’ve developed a set of relationships and a set of capabilities that are going to serve you, no matter what path you follow Dean Scott DeRue, Ross School of Business: When we talk to prospective students. I mean, we’re one of the largest suppliers of talent into consulting, including Deloitte and others. And when we’re talking with prospective students and hearing what they’re interested in Dean Scott DeRue, Ross School of Business: Some of it is, is very predictable right they want to they want to get exposure to different industries, different types of problems to really accelerate their development Dean Scott DeRue, Ross School of Business: At the same time, what we’re hearing is they want to work for organizations where they can have a rewarding career with meaning and purpose Dean Scott DeRue, Ross School of Business: They want these opportunities for career advancement and growth, they want to work with people that they connect with these are not new, but in professional services and consulting Dean Scott DeRue, Ross School of Business: Organizations like Deloitte and others are beginning to differentiate themselves on how you can have a career in consulting, how you can Dean Scott DeRue, Ross School of Business: Leverage consulting for professional growth, how you can create a culture in a community where you can really connect and in build relationships and Dean Scott DeRue, Ross School of Business: When I was in consulting in the 90s and 2000s, I would say that was less of a focus than it is today Dean Scott DeRue, Ross School of Business: And I think it’s one of the past that students both undergraduate and graduate really look to consulting as that really, in many cases, perfect first job post business school Dean Scott DeRue, Ross School of Business: And that’s what we’re hearing from a lot of our students and why they’re so interested in consulting as a path, whether it’s ultimately a career or a chapter, it varies by individual Dan Helfrich, Deloitte Consulting CEO: I would say it’s got just a there is a difference. And it’s a pretty fundamental difference from when you and I started in the profession today and that is that Dan Helfrich, Deloitte Consulting CEO: We are much more an outcome profession than an advice profession. Right now I 20 years ago this was an advice profession Dan Helfrich, Deloitte Consulting CEO: And you were an advisor to an executive giving them ideas and, you know, sage, wisdom, maybe doing research for them now in the world we’re in. This is about how can I package together Dan Helfrich, Deloitte Consulting CEO: Interesting data interesting insights interesting advice interesting technology together to have an integrated solution to something the client is facing. And so the mindset Dan Helfrich, Deloitte Consulting CEO: Is less. Let me give you a PowerPoint and I’m going to wish you well because I’ve nailed your strategy and now it’s okay we got the strategy right. And we’ve done it based on data and insights and Dan Helfrich, Deloitte Consulting CEO: Infrastructure. Now let’s roll up our sleeves and get this done together and that’s that’s a big shift and, you know, frankly, it’s led to shift for example on how Dan Helfrich, Deloitte Consulting CEO: We’re paid because clients are much more likely to pay us for outcomes as opposed to ours build, and I think it’s a great thing for the profession, but it’s a different mindset than a renaissance consultant of the year 2000 might have had Jazmyn Becker, MBA ‘21: Thank you both for that. And as someone who values relationship building. It’s exciting to hear about how that partnership has kind of evolved over time as well with clients Jazmyn Becker, MBA ‘21: So for our next poll, as we open that up as you all know the past six months have shown the immense impact that businesses can have if they so choose on societal issues like racial equity Jazmyn Becker, MBA ‘21: Community health needs and social injustice. So we want to hear from you and what you have to say about that intersection of career and social issues that you care about Jazmyn Becker, MBA ‘21: It as that pool is filling out there Jazmyn Becker, MBA ‘21: Would love to hear just to start Dan as those come in for you. Does your reflections on that kind of intersection of business and the role they play Jazmyn Becker, MBA ‘21: Yeah, and societal issues Dan Helfrich, Deloitte Consulting CEO: So look, we said Scott was referencing North stars. Earlier we said three North stars for our business. I won’t go through all them with you. But the first one is that we will be the most influential and responsible consultancy in the world

Dan Helfrich, Deloitte Consulting CEO: I don’t believe that the word responsibility would have entered our headline vision and our headline set of Dan Helfrich, Deloitte Consulting CEO: commitments to the world you know 20 years ago. And the reason is a couple. First of all, like I view us Dan Helfrich, Deloitte Consulting CEO: I lead a team of 55,000 people, some of the smartest, most talented most diverse people in business. We have a great brand as an organization, I believe what we say and what we stand for matters and that we can impact Dan Helfrich, Deloitte Consulting CEO: Society fundamentally Dan Helfrich, Deloitte Consulting CEO: This has been hugely important to me Dan Helfrich, Deloitte Consulting CEO: If I were to personalize this. And so what I think you’ll find is Dan Helfrich, Deloitte Consulting CEO: You may be able to find your daily work with clients that advances, a social issue that matters to you. So I’ve done a lot of public sector consulting Dan Helfrich, Deloitte Consulting CEO: In my career because one of the things I was so passionate about is how do we Dan Helfrich, Deloitte Consulting CEO: provide benefits to the less fortunate in society in a more efficient and humane way so I spent a lot of my life consulting on those topics so Dan Helfrich, Deloitte Consulting CEO: But some people you don’t you don’t scratch that itch on your day to day basis, but you engage in things as a you know corporation or a firm Dan Helfrich, Deloitte Consulting CEO: On topics like climate that I referenced earlier on topics like technology ethics and ethics and artificial intelligence which I assume you guys are spending time on in the classroom and should be Dan Helfrich, Deloitte Consulting CEO: As we have to advance the thinking on there so I view us as being able to to advance and be a responsible enterprise, both in the work we do every day and then the things we take on Dan Helfrich, Deloitte Consulting CEO: On behalf of society. And look, I recognize it. I’m sure you debate it in the classroom as to whether the notion of stakeholder capitalism is fake or lip service or virtue signaling Dan Helfrich, Deloitte Consulting CEO: Or is it real. I can only tell you that from the chair I sit in. It’s very real. For me, it’s very real for us personally and as I talked to CEOs around the world, certainly for more than half of them. It feels very authentic and real to me. Not all of them, but more than half of them. Yeah Jazmyn Becker, MBA ‘21: Thank you. And I love that with the North Star, both influential and responsible, those are those are wonderful North stars to drive towards Jazmyn Becker, MBA ‘21: And how about for you. Scott kind of taking a look at the polls, as well as just comments on that kind of intersection of social issues in business impact Dean Scott DeRue, Ross School of Business: Yeah, I think you know what we’re seeing is what we’ve always seen which is people want to work at a place where there is value can do is, there’s value alignment and Dean Scott DeRue, Ross School of Business: And people want to be a part of an influential and responsible organization they want to make a difference. And you know, I look at you know an institution like ours Dean Scott DeRue, Ross School of Business: You know, one of the leading business schools in the world. And I see both the responsibility and an opportunity Dean Scott DeRue, Ross School of Business: In this in this way you look at our mission. Our mission is very clear, build a better world through business Dean Scott DeRue, Ross School of Business: And the vision that goes with that is to develop the next generation of talent that’s going to go work at Deloitte, or wherever they may go Dean Scott DeRue, Ross School of Business: And leverage business and business principles to have a positive impact, whether that is sustainability and climate, whether that’s social and racial justice Dean Scott DeRue, Ross School of Business: Whether it’s, you know, access to food and safe water, whether its economic prosperity and social mobility business in my mind has to be Dean Scott DeRue, Ross School of Business: At the center of those conversations, working with the public sector, working with communities Dean Scott DeRue, Ross School of Business: To help drive that change and I feel a deep sense of responsibility to position the Ross School on the leading edge of how we use business as a force for good in society Dean Scott DeRue, Ross School of Business: And that’s economic and that social and if we’re developing the next generation of talent business leaders who are inclusive who understand how to use business Dean Scott DeRue, Ross School of Business: In partnership with government and communities to have a positive impact then imagine what our world will look like for the next generation and the generation after that Dean Scott DeRue, Ross School of Business: And what we’re seeing among our prospective students in our students

Dean Scott DeRue, Ross School of Business: Is they’re hungry for that. There’s a reason the Ross School was the first business school to have a social venture fund Dean Scott DeRue, Ross School of Business: There’s a reason why we’re one of the few business schools in the country that has an Associate Dean were in this case. Her only job is to get up in the morning and think about the impact that business has in society Dean Scott DeRue, Ross School of Business: There’s a reason that our business and society. Speaker Series last year focused on the stakeholder shareholder, sort of, you know, debate that’s happening Dean Scott DeRue, Ross School of Business: And this year is focused on the role of race in business, because these are the conversations that are important for us to lean into in our core and essential to developing the next generation of business leaders who are going to use business to build a better world Dan Helfrich, Deloitte Consulting CEO: And I think the centerpiece of business can’t be, you know, we need to continue to emphasize it. But I will say, Dan Helfrich, Deloitte Consulting CEO: And you know I think ecosystem was probably the most overused business word of the last two years, but there’s something about it, which the savviest business leaders actually know Dan Helfrich, Deloitte Consulting CEO: How to build networks in academia in nonprofit and in government and they know how to pull on those networks to deal with the most intractable issues of our time. And I will tell you as I Dan Helfrich, Deloitte Consulting CEO: Experienced the transition, we’re having in society, the number of business leaders who naturally think that way and then naturally can pull on a personal network that features all parts of the ecosystem that is a rare person right now Dean Scott DeRue, Ross School of Business: Yeah. And then it’s, it’s an extraordinary point and what you just painted, we started a program last year called our impact studio Dean Scott DeRue, Ross School of Business: And I wish I actually, I do have a recording of you saying that now because you are the commercial for the impact studio with what you just said, because what it does is it says, all right, let’s take a really Dean Scott DeRue, Ross School of Business: You know, big hairy challenging problem in society. Access to safe water how small businesses adapt through covert financial inclusion and people not having access to banks Dean Scott DeRue, Ross School of Business: And let’s bring faculty and students and business folk and government folk from different disciplines different domains together Dean Scott DeRue, Ross School of Business: And weave them together in a way where you can bring these different areas of expertise to create sustainable solutions to some of these challenges and problems at least to the scale that we can that we can work with Dean Scott DeRue, Ross School of Business: And my really strong belief is our students having that experience where they’re working their business students working with public health or social worker engineering Dean Scott DeRue, Ross School of Business: To solve these problems, not only we are developing students with the skills that you’re looking for. But we’re developing the next generation of business leaders, where that is their mindset Dean Scott DeRue, Ross School of Business: And if we can do that and hopefully if all business schools can do that, then the world’s going to be a much better place for our kids and their kids Dan Helfrich, Deloitte Consulting CEO: Yeah, and my I totally agree. And my challenge to you know you Scott and your students and your professors is how, how do we as a society, create more Dan Helfrich, Deloitte Consulting CEO: Create more people, more of our smartest people whose careers are spent across many of those sectors, it’s too hard right now and I love to have you know we talk all the time. Can we do more Dan Helfrich, Deloitte Consulting CEO: Talent exchanges with the government can we do more talent exchanges with nonprofits, you know, etc. I think we would move the needle on everything we’re talking about if we found systemic ways to create more velocity of the movement of smart people across sectors. Yeah Jazmyn Becker, MBA ‘21: Wonderful. Thank you both for that. And I think this idea of rubbing shoulders within the ecosystem to create greater change is a perfectly the entire last question for the community here. So thinking about the future of work Jazmyn Becker, MBA ‘21: How and where people work will continue to change continue to evolve. I know for myself as a Jazmyn Becker, MBA ‘21: Soon to be graduate, I’m thinking about that, especially post pandemics. So let’s talk more broadly about the future of work Jazmyn Becker, MBA ‘21: And what we are seeing in terms of individuals preferences and how and where they work question, Dan. I’m sure your team has been thinking about quite a bit. So as that pole fills out Jazmyn Becker, MBA ‘21: Scott I’d actually like to start with you. Let’s go a little bit broad, dream big. With me here. What is your vision for the future of work Dean Scott DeRue, Ross School of Business: Jasmine. I appreciate it. It says that the host and panelists cannot vote, but I’d like to vote Because – Dean Scott DeRue, Ross School of Business: For someone who travels a lot and I haven’t been on an airplane since March I am starting to go through some shakes on the non traveling, but

Dean Scott DeRue, Ross School of Business: But now the future of work and what that means for for all of us. I think it’s a really important set of issues that that all of us need to be thinking about deeply. So let me let me answer it first with regards to education Dean Scott DeRue, Ross School of Business: So clearly, we’re seeing an accelerated adoption of hybrid and remote work right. So, you know, we’ve got lots of faculty lots of staff Dean Scott DeRue, Ross School of Business: Here at the University and the business school. And so we’re seeing an accelerated adoption of different work arrangements hybrid remote work much of it by necessity, given the pandemic Dean Scott DeRue, Ross School of Business: But some of it because there’s a better way to deliver that particular service or fulfill that particular role in a hybrid or remote manner at the same time. We’re also seeing a strong need for human connection Dean Scott DeRue, Ross School of Business: We are all living in a physically distant sometimes socially isolating world and there is such thing as zoom fatigue. And so there’s a strong need for human Dean Scott DeRue, Ross School of Business: Real human connection and experienced in relationships together. And so if I were to take a big step back as we look forward our modes of service delivery, whether it’s consulting or education will undoubtedly change Dean Scott DeRue, Ross School of Business: In our case that services, education and dance cases consulting how we deliver those services to our stakeholders will absolutely evolve and was already evolving prior to the pandemic Dean Scott DeRue, Ross School of Business: Importantly, as those modes of service delivery change. So will the workplace, right. So to the extent that service delivery becomes remote Dean Scott DeRue, Ross School of Business: If it’s consulting. You don’t have to be on client site as much if it’s an education, maybe some of its more hybrid or remote Dean Scott DeRue, Ross School of Business: The workplace will need to evolve to accommodate meet the needs of that service delivery, but it’s got to go in that direction. What’s the best way to meet the needs in our case of our students. And then how do we design a workplace Dean Scott DeRue, Ross School of Business: To allow for that. And one of the unique things about education. If you believe like I do that. Residential Education will always have a place on a university campus and in business schools Dean Scott DeRue, Ross School of Business: Universities have a unique feature relative to most types of organizations, including consulting the stakeholders who we serve Dean Scott DeRue, Ross School of Business: In our case, largely students, most of them, not all but most of them are on campus Dean Scott DeRue, Ross School of Business: Because our mode of service delivery in most cases is in person. So imagine a world where Deloitte clients weren’t at their offices. They were actually in delights offices Dean Scott DeRue, Ross School of Business: Right. And so how you would how you would deliver that service would fundamentally changed and so Dean Scott DeRue, Ross School of Business: To the extent that our mode of service delivery and education changes over time. So will or workplace, but it’s got to go in that direction. What is our vision for the future, in our case of education Dean Scott DeRue, Ross School of Business: And then how do we design a workplace where our people can thrive in collaborating and working together to deliver on our mission in this case academic and education so Dean Scott DeRue, Ross School of Business: I think there’s a world of opportunity, I think we’re going to see Residential Education come back and really robust ways, but we’re going to find that much of what we’ve done in remote and hybrid formats creates new opportunities that most universities were not Dean Scott DeRue, Ross School of Business: Imagining and for the universities that are not adaptive and not visionary, I fear that they have a very short future ahead. Yeah. Thank you Jazmyn Becker, MBA ‘21: And then Dan for you, just briefly, your vision of the future for Dan Helfrich, Deloitte Consulting CEO: My vision for the future of work has choice at the center. And when I asked my team a similar polling question that you just asked Jasmine Dan Helfrich, Deloitte Consulting CEO: The results are pretty evenly split amongst the three. And so what does that mean in the old days, it might have meant that a leader sees that they have to therefore have a change management exercise because they have to convince Dan Helfrich, Deloitte Consulting CEO: Everybody which the best way is I view it differently, which is I need to configure a menu of possibilities in terms of how our people work Dan Helfrich, Deloitte Consulting CEO: In terms of how we work with our clients that actually puts the person at the center, as opposed to Deloitte at the center and that change in the future of work, I believe, will be the most profound and the most liberating and the most inclusive Dan Helfrich, Deloitte Consulting CEO: To a future that in our profession is supports people of all ages of all races, people who are caregivers and not and people as they transition to different life phases. It’s no secret that Dan Helfrich, Deloitte Consulting CEO: There are moments in people’s lives where historically the profession of consulting has been less attractive and we see

Dan Helfrich, Deloitte Consulting CEO: Attrition Rise, my view is the future of work that has choice at the center actually confront a lot of that in systemic ways and creates lots more career possibilities for people as they travel the natural sine waves of life, you know, Jazmyn Becker, MBA ‘21: Thank you both for that that’s an exciting thing to envision and think about Jazmyn Becker, MBA ‘21: So now we turn it over to the community and I know we’re short on time. So we’re going to go rapid fire Scott and Dan and try to get through as many questions as we can from everyone here. So first question is for Dan from hurry and he asks Jazmyn Becker, MBA ‘21: He or she asked, how have you been able to stay connected with your coworkers and employees and how have you managed to ensure productivity and enthusiasm, so maybe one or two tips there Dan Helfrich, Deloitte Consulting CEO: A very tangibly we have been doing Friday broadcasts essentially from my house, as some of you know about me. I actually am a broadcaster on the side. I do TV stuff Dan Helfrich, Deloitte Consulting CEO: I do sports commentating mostly on soccer and so I love broadcasting and so we’ve sort of hosted our own show. And it’s me in this environment, talking with our people always at a baseball hat, by the way Dan Helfrich, Deloitte Consulting CEO: So I appreciate team Michigan sending me a hat. Otherwise, I’d be wearing a Georgetown hat Dan Helfrich, Deloitte Consulting CEO: And humanity Dan Helfrich, Deloitte Consulting CEO: Humanity is in short supply and high need right now. And so anything that any leader can do to bring humanity and empathy to the team. They are leading is doing a great service. Thank you Jazmyn Becker, MBA ‘21: Our next question comes from Daniel Zand, a Ross prospective student question for both of you. It’s a big one. What is your key to happiness Dean Scott DeRue, Ross School of Business: Dan while you while you think about the your answer to that question. I’ll get I’ll give I’ll give mine, which is defining success on my terms not someone else’s Dan Helfrich, Deloitte Consulting CEO: A lot of unstructured time with my four kids Jazmyn Becker, MBA ‘21: Thank you both for that. The next question is in the chat from Tamaya Jazmyn Becker, MBA ‘21: It says will you provide some additional advice when thinking about the intersection of profits ethics and the future of work Jazmyn Becker, MBA ‘21: Specifically, what do you do when an opportunity presents itself that will gain your company money, but it’s against your personal or moral compass Jazmyn Becker, MBA ‘21: Both for Scott as from like a donor experience lens. It says in Dan on the influence of projects projections, things of that nature. So whoever would like to answer first Dan Helfrich, Deloitte Consulting CEO: Well, I can start if you’re going to say like I have that we want to be the most responsible firm, then you better have a set of processes Dan Helfrich, Deloitte Consulting CEO: Then allow you to do things and it’s important to separate these two things. And the question close this out Dan Helfrich, Deloitte Consulting CEO: You need to be able to make organizational decisions that apply your organizational values Dan Helfrich, Deloitte Consulting CEO: To a choice about it. Should we serve this client or not, should we take on this project or not. And then once you make the organizational decision. You better make it crystal clear that any individual that Dan Helfrich, Deloitte Consulting CEO: Doesn’t feel comfortable doing that work for any reason. There’s no retribution, no problem with that person opting not to do that, you know, not to do that work. And the combination of those two things needs to be clearly articulated when they get blended things can get challenging Dean Scott DeRue, Ross School of Business: Yeah. Similar similar for us a clear statement of values and supporting our team when they make decisions that are consistent with those values, even when it’s a hard decision to make Dean Scott DeRue, Ross School of Business: And with no questions asked. And you know somebody I think you mentioned, you know, philanthropy or raising money or maybe that was in the question Dean Scott DeRue, Ross School of Business: You know mean we’re a nonprofit we rely on philanthropy to provide students support and scholarships, and we would not be able to exist and do what we do, just like most universities without philanthropy Dean Scott DeRue, Ross School of Business: I’ve turned down millions of dollars in proposed gifts from prospective donors because either one of two reasons Dean Scott DeRue, Ross School of Business: I didn’t feel like we as an organization could or wanted to deliver on what was expected with that gift Dean Scott DeRue, Ross School of Business: So it was not consistent with who we are as an organization, or where we wanted to go

Dean Scott DeRue, Ross School of Business: Or in some cases that gift came with or that proposed gift came with strings that were a violation of our values, I have no problem. Turning down during down that money because Dean Scott DeRue, Ross School of Business: You know that trust and that integrity, you build it. If you start making decisions that are simply based on profit or in my case, raising philanthropic dollars for short term you will undermine any road the trust in your organization and the Dean Scott DeRue, Ross School of Business: The values that you espouse to and Dan Helfrich, Deloitte Consulting CEO: And Jazmyn. The only thing I’ll add for people like Scott night. You also have to recognize in the world we live in Dan Helfrich, Deloitte Consulting CEO: This is a tough sport and it’s a tough sport and social media in particular Dan Helfrich, Deloitte Consulting CEO: One of the things you learn when you decide and are when you decide to serve certain clients when you decide to do certain work that not everybody’s going to agree with that and there’s going to be people who poke it to you in prod you and are trying to advance their own Dan Helfrich, Deloitte Consulting CEO: Their for their own cause in a sort of a mean spirited and non nuanced way. And I’ve learned to ignore frankly a bunch of that that isn’t thoughtful and Dan Helfrich, Deloitte Consulting CEO: And is pretty mean spirited, but that’s a skill that frankly a lot of leaders haven’t developed over time to see criticism and frankly, some mean negative personal things said about you Dan Helfrich, Deloitte Consulting CEO: And learning to compartmentalize that and understand where it’s coming from, is a really underrated skill Jazmyn Becker, MBA ‘21: Thank you for that. And I Dean Scott DeRue, Ross School of Business: And to help your family. Learn to stay off of social media Jazmyn Becker, MBA ‘21: That too Jazmyn Becker, MBA ‘21: Social media. Media breaks are lovely and I think, to your point, you both mentioned having these North stars, you drive to which helps you kind of put those Jazmyn Becker, MBA ‘21: Up, you know, taking it in and being able to compartmentalize as well Jazmyn Becker, MBA ‘21: Well to close this conversation. You know, we’ve been focusing on a changing world. And my last question for you is, is changing you so thinking about yourselves as leaders and allies. Where did you start where are you now and where do you want to go Dan Helfrich, Deloitte Consulting CEO: Scott, I’ll let you start Dean Scott DeRue, Ross School of Business: Or that’s a big question. Um, you know, for, for me, you know, my one of my North stars is I want to be a person that helps other people realize their potential Dean Scott DeRue, Ross School of Business: And and have the life that they want to live Dean Scott DeRue, Ross School of Business: And you don’t have to be an education to do that. You can work at Deloitte, you can be anywhere. But for me, the people that Dean Scott DeRue, Ross School of Business: Have made such a difference in my lives then you actually have one in your in your New York office Cheryl Jacobson changed my life Dean Scott DeRue, Ross School of Business: She showed me that consultants can care and and and you know my time with her when working with her was just transformative and amazing and Dean Scott DeRue, Ross School of Business: I want to be that person for others and build an environment where, in our case, the Ross School. The University of Michigan can be this truly transformative experience for people Dean Scott DeRue, Ross School of Business: Where you know 10 years 20 years 30 years 50 years later, you still look at the experiences you had on this campus as defining moments in who you are as a person and as a professional Dean Scott DeRue, Ross School of Business: And no matter where I’m at, in my life for my career and whatnot. That’s who I want to be. So that’s my North Star you appreciate it Dan Helfrich, Deloitte Consulting CEO: It’s beautiful. Um, here’s what I’d say. Jazmyn Dan Helfrich, Deloitte Consulting CEO: I am a leader in training Dan Helfrich, Deloitte Consulting CEO: I am a leader in training. I will always be a leader in training. I am an imperfect leader Dan Helfrich, Deloitte Consulting CEO: And you have that mentality, you realize that Dan Helfrich, Deloitte Consulting CEO: There are lots and lots of ways through experience and through more formal Dan Helfrich, Deloitte Consulting CEO: Ways. If you listen to get better and to realize that you have a long way to go. I’ll you know races something very personal to me. I have a multi racial family. It’s been a topic that is incredibly important to me for a long time Dan Helfrich, Deloitte Consulting CEO: But I learned things over the last seven months that I wish I had understood more and I learned the feeling of being a parent to a black child and I heard Dan Helfrich, Deloitte Consulting CEO: The anguish and the challenge that people experience at the, you know, teaching their children when they get their drivers license about how to behave in certain situations and really

Dan Helfrich, Deloitte Consulting CEO: Understanding that has made me a better leader. I had one of my team members Megan She knows this is a passionate topic for me. And she looked at my Dan Helfrich, Deloitte Consulting CEO: Twitter follows the people I follow on Twitter. And I actually liked Twitter as a way to gather and curate news and information and sports and culture, real quickly. And she said, Dan Helfrich, Deloitte Consulting CEO: You have the widest group of people. You follow that you could ever see it. And suddenly, guess what, in by changing the diversity of the people I’m consuming bite sized perspective from on a day to day basis will maybe I get a different lens on things and maybe Dan Helfrich, Deloitte Consulting CEO: I’m quicker to understand that there’s something really bad happening in Nigeria and I have a bunch of people in my practice, who are of East African heritage and I can connect with them because I’m Dan Helfrich, Deloitte Consulting CEO: empathizing and paying attention to what’s happening in Nigeria, guess what the average business leader in the United States has no idea what I’m talking about right now Dan Helfrich, Deloitte Consulting CEO: When I see a what’s going on in Nigeria and we all have a long way to go. Um, and that’s the way I view myself. And that’s the way I view my Deloitte organization imperfect leaders and imperfect organizations with the vision to try to get better and to try to be something great Jazmyn Becker, MBA ‘21: Well thank you both for that. And for just the vulnerability that you’ve expressed as leaders and these amazing tidbits from setting your own personal north star to continuing to be a leader in training. So Scott I hand it to you for are some closing thoughts and some final remarks Dean Scott DeRue, Ross School of Business: Well, Jazmyn, first and foremost, I want to thank you for moderating the conversation. You’re an amazing moderator Dean Scott DeRue, Ross School of Business: And I just, I look. I look forward to following the following you in your career and seeing you do just amazing things because you’re an amazing student at the law school and Dean Scott DeRue, Ross School of Business: Your future is very bright and the world’s better for it. So thank you very much for moderating and, you know, Dan to you and our Deloitte family. Thank you Dean Scott DeRue, Ross School of Business: For joining us not only for for this conversation, but for your continued support of the University of Michigan broadly, but the Ross School Dean Scott DeRue, Ross School of Business: Certainly it’s a partnership that’s rich in history continues to be an important partnership for both of us. And so, Dan, thank you from the bottom my heart and on behalf of everybody at the school. Thank you very, very much Dean Scott DeRue, Ross School of Business: More generally, to all of us, all of you that are joining Dean Scott DeRue, Ross School of Business: You know, offer that it is it is conversations like this one. That gives me hope Dean Scott DeRue, Ross School of Business: That gives me hope about the future, not only of consulting or business education Dean Scott DeRue, Ross School of Business: But even beyond the world that we live in and daily basis, drawing hope from from all of you regarding sort of our, if you will, are shared futures as human beings as citizens of Dean Scott DeRue, Ross School of Business: A community where all of us can come together share perspective, learn from each other to Dan’s point with humility with grace with a commitment to continuous learning and improvement recognizing that all of us are imperfect Dean Scott DeRue, Ross School of Business: But if we’re striving to get better every day really good things happen and and our world can use a lot more of that humility that grace that commitment to Dean Scott DeRue, Ross School of Business: Our own imperfections and getting better. So thank you all for joining. It’s been a real privilege and since Dan’s alma mater Georgetown, it at least embraces the color blue and he’s wearing a Michigan hat. I will say to all of you as always and forever. Go Blue