This year’s study gathered input from 400+ senior executives, 1,700+ HR professionals, and 5,400+ employees from 20 industries and 37 countries around the world. Technology advances are re-shaping value chains, making people and information more accessible, and re-defining how work gets done. At the same time, the changing demographic profile of employees and shifting expectations of the work experience are challenging the traditional model of what it means to “go to work.” An overarching theme of Empowerment in a Disruptive World permeates how business leaders, HR professionals, and employees are viewing the Future of Work.
Four Key Trends from This Year’s Study
Growth By Design: Driving a bold change agenda
93% of business executives plan to make a design change in their company within the next two years. It’s no longer about evolution – to stay ahead, organisations are transforming structures and jobs in a desire for increased efficiency, agility, and customer intimacy. Ensuring that the People agenda is not lost amid the drive for change will be critical to sustainable growth.
A Shift In What We Value: A new rewards paradigm is needed
Fair & competitive pay and opportunities for promotion are top priorities for employees this year, which is not surprising given the climate of uncertainty and change. But it’s not just about financial results or activity metrics – 97% of employees want to be recognised and rewarded for the wide range of contributions they make each and every day.
A Workplace For Me: Personalisation of the employee experience
People expect their employer to “make work work” for their individual circumstances. Companies are starting to respond by taking a “whole person” approach and increasing the flexible work options available to their workforce – 63% already have a formal flexibility policy in place. Advances in technology are enabling individualised choice without adding an undue administrative burden for HR.
The Quest For Insight: Predictive analytics are still out of reach
Even with advances in technology that facilitate both collection and analysis of large quantities of data, companies around the world are making slow progress in using analytics to inform human capital decisions. Very few are able to translate data into predictive insights, and nearly 1 in 5 are generating only basic descriptive reporting and historical trend analyses.
Three Imperatives to Help Companies Leap Forward
A lot has been said about an organisation’s ability to bounce back when faced with adversity. But disruption brings adversity and opportunity, so this year’s Trends study also provides actionable advice on three imperatives that can help you bounce forward.
1. Attracting & Retaining Tomorrow’s Workforce
1 in 3 employees are satisfied in their current role but are still planning to leave in the next 12 months. How can you ensure that your EVP is truly aligned to your company’s DNA and provides a compelling reason to join or stay?
2. Building for an Unknown Future
How do you prepare your workforce for jobs that don’t yet exist? How do you draw on the full breadth of your organisation’s institutional knowledge and ensure the best ideas are brought forward? Only 42% of employees say their company makes it easy to innovate today.
3. Cultivating a Thriving Workforce
What does it take for people to thrive at work? 83% of employees already feel they can bring their authentic selves to work. But what can companies do to ensure that everyone feels energised and empowered to contribute?