15 Nov Tech-Enabled, More Humane Work Environment Eyed for Future Workforce
Even before the pandemic, companies were struggling to keep up with the needs of the new workforce consisting mostly of millennials and a number of zoomers (Gen Z). The pandemic and the new generation of workforce have made it clear that a focus on Employee Experience (EX) is a must to retain top-notch talent.
Deloitte Consulting predicts that EX and new technologies that contribute to that experience, and the need to utilize underused data are talent management aspects that companies need to anticipate in the next year.
With the rise of a more globally mobile workforce, HR and global mobility teams now have to double their efforts to maintain considerably satisfactory EX which will ultimately lead to employee retention.
In the middle of Q2, McKinsey Global Institute already reported that an estimate of up to 25 percent more workers than previously estimated may need to switch to other jobs. The pandemic has changed the behavior of the workforce, not to mention the trends involved in talent attraction and retention.
Months later, talks about “The Great Resignation” arose when it was evident that workers were discovered to be switching occupations or quitting work. Microsoft surveyed over 30,000 respondents to discover that 41 percent were considering quitting.
Multiple sources mentioned that the pandemic has certainly forced employees to prioritize their wellbeing. This reprioritization should signal HR executives and global mobility leaders to revisit their strategies.
Similar to Deloitte, an article in Forbes recognizes that providing great employee experiences is the way to go in the workforce of the future. A high salary isn’t necessarily going to cut it for the modern-day worker.
Company culture and a healthy working environment are just a few things on the list that recruiters should keep in mind. Now’s the perfect time for them to get creative on maintaining a healthy workforce.
But what do employees themselves specifically demand from the company? Amdocs, a software and services for communications, media and financial services providers and digital company, released their research entitled, “Research: Workforce of 2022: Reskilling, Remote and More.” It uncovers what workers want from their employers and why many of them are leaving their jobs as it conducts surveys of full-time workers across the US.
Here are its findings:
- The “Great Resignation” has happened, but a generational divide exists within this mass resignation
- Two-thirds of the respondents felt leaving a job due to the lack of training and development in their current company
- Although remote work has been a common topic, it doesn’t belong in the top 3 demands for workers in 2022
- One-third of employees are worried about the quality of their training and reskilling abilities in remote work
Moreover, PwC conducted its Future Work and Skills survey and discovered that the three most significant workforce challenges are identifying the risks of substituting human work with new technology, identifying the skills workers need related to these new technologies, and communicating clearly about the impact of automation and digitization on future skills needs.
The accounting firm also identifies the six no-regrets moves leaders should make to build up the future workforce and its takeaways:
Plan for the future
What the Covid-19 pandemic has taught us is that it created a new level of uncertainty in the business realm. Planning and strategizing have now become extremely difficult.
Now more than ever, businesses need to make data-driven decisions. Scenario-based planning is a way leaders can build up their companies’ resilience in these uncertain times. It involves anticipating what businesses need in multiple future scenarios.
Build trust in the company
Businesses have to focus on their people and make use of different tactics to make the most out of their human capital as much as they can. The key to doing just that is to build trust within the organization.
In PwC’s research, people tend to want to work for employers who show they care. That’s why businesses in today’s times have to live up to their promises whether it is a company culture they pride themselves with or their values and purposes. In today’s age, it isn’t enough for companies to market their promises. Now, they have to walk the talk.
Optimize productivity and performance
PwC confirms that many companies are now thriving in a remote or hybrid workforce setup. Furthermore, the firm also highlights the need to achieve sustainable productivity. This doesn’t involve constant monitoring of employees. In fact, giving workers the freedom to manage their time as they fit as long as they meet their deliverables is encouraged.
Upskill with the future in mind
The acceleration of digitization in businesses requires business leaders to identify skills of the future. The problem here is that businesses are unable to identify what specific skills they need to train their workforce in order to prepare them for the future.
The survey also mentions that business leaders have challenges in utilizing analytics to identify skill gaps within their workforce. PwC recommends companies have more targeted hiring and onboarding processes, better on-the-job coaching, and a clear design of career paths.
Digitize with humans in mind
Digitization is inevitable in today’s circumstances. However, it does help companies openly collaborate with their workforce with new technology being integrated within the organization. Don’t allow the workforce to feel as if technology will replace them.
Create a more human-led but tech-enabled working environment. Many employees still fear the impacts of technology to the workforce. It’s important to humanize interactions with employees to deal with these fears.
Create the ability to quickly access and deploy talent
The pandemic has taught companies that workforce strategies should adapt to the uncertain future. Now, companies are eyeing to expand recruitment capabilities, going beyond the traditional in-house teams to contingent workers. PwC highlights the advantages of having mixed talent that sparks creativity and generates innovative and fresh ideas for the company.