Items filtered by date: January 2021
Trends Shaping the Future of "Work"
Status Quo Is Gone Forever
I’m passing along this revised article because I think it is a message that employers need to read! Writer Kate Lee has researched this “Going to Work” topic and writes a great report about people and their jobs. One of the biggest changes going forward is where people work. This statistic shocked me: the number of employees permanently working remotely globally is set to double in 2021.
And, this study is very surprising: The largest remote work experiment indicates that remote work can increase productivity (15%-40%), reduce absenteeism (40%), decrease turnover (10%-15%), reduce real estate and resource usage expenditures (+20%), increase engagement, and increase performance. Given this, it is not surprising that 83% of employers say the shift to remote work has been a success and that less than one in five executives say they want to return to the office as it was pre-pandemic.
The stats are clear … employees don’t want to return to the office location standard prior to 2020 either. One study found that 61% of employees want to work from home indefinitely even after the pandemic is over. Twenty-nine percent of respondents said they will quit their job if they aren’t allowed to continue to work remotely, and 62% either agreed/strongly agreed that in the future they will prefer employers offering remote work.” Research by OWL Labs and Global Analytics Workplace found similar results: 80% full-time employees expect to work from home at least three times per week and half of the respondents say that if their employer won’t allow remote work they would look elsewhere. Also, a revelation.
While pre-virus location was a differentiator for organizations, post-pandemic, location will no longer play the same role. As the research shows, post-pandemic, employees give preference to organizations that offer remote and hybrid work – and will leave organizations that do not offer these models.
The virus has exponentially accelerated trends including online learning, virtual health, virtualization of the workforce, and e-commerce. In some cases, changes that were projected to take years, occurred in months, weeks, and even days. At the same time, uncertainty is widespread as are the economy, mental and physical health, and logistical disasters.
Leading Health and HR experts concur that as much as we would like to think of 2020 as an anomaly, it probably isn’t. The consensus is that post-virus change will be much more rapid, continual, and ubiquitous. They see change being defined by effective leadership - where effective bosses will be wise and discerning in navigating change while also being humane. They will become anti-heroic leaders and show authenticity, humility, and vulnerability that drives shared learning and productivity and lead to a better future for all.
A Managing Director at a Fortune 100 company shared that leading teams in this environment forces one to be more human. Closer relationships will evolve because people/workers know each other on a very different level now. This experience is now normal.
The chief of research for the Gartner HR practice sees nine additional trends that will shape 2021 and the future of work:
- Employers will shift from managing the employee experience to managing the life experience of their employees.
- More companies will adopt stances on current societal and political debates.
- The gender-wage gap will continue to increase as employees return to the office.
- New regulations will limit employee monitoring.
- Flexibility will shift from location to time.
- Leading companies will make bulk purchases of the COVID vaccine for employees — and will be sued over COVID vaccine requirements.
- Mental health support is the new normal.
- Employers will look to “rent” talent to fill the skills gap.
- States will compete to attract individual talent rather than trying to get companies to relocate.
Leaders who take a wait and see approach will find themselves at a disadvantage, while leaders who act proactively have a far greater competitive advantage.
While it is not yet clear what life will look and feel like post-virus, what is clear is that our future and the future of work will not be a return to the status quo.
I hope that as you read this post you clicked through the highlighted text. The information is not opinion but reflects studies by respected entities. What surprised me the most is the shocking changes resulting from the 2020 COVID-19 experience in just one year.
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