Reimagining resilience for a future in flux
The pandemic triggered a seismic shift in how, when, and where we work, and we will never go back from here.
Our 2021 survey of more than 1,000 business leaders across sectors and regions shows that organizations know the future workplace will be defined by its fluidity. This means employees flowing in and out of the office, working remotely and on-site as it suits their schedules and aligns with the needs of their teams.
The mass shift to remote working enforced by the pandemic brought a number of unexpected benefits for organizations and their employees. Following years of debate about the pros and cons of flexible options, the pandemic proved that remote work allows employees to be their most productive selves, engaging in head-down individual work when needed and collaborating digitally when team discussion is required. Businesses will want to hold on to these advantages, even when the pandemic ends.
This new way of working has also exposed employers to a much wider and more diverse workforce population, giving them the option to onboard new candidates and contingent workers regardless of location. In a time when the battle for talent is fierce, this flexibility is freeing organizations to fill skills gaps in a more agile way. The data indicates that more than half of respondents had seen their ability to recruit talent improve since the pandemic began, and more than half also reported improvements in employee satisfaction and turnover in the past year.
However, these benefits are offset by the unprecedented challenge businesses face in adapting the workplace and their management styles to a more fluid future.
The survey found that, while these leaders recognize that the workforce is changing, most aren’t yet taking steps to transform their technology, culture, or talent-management practices. For example, 72% say they should be adopting talent-management platforms that can manage full-time and contingent labor simultaneously, and using predictive analytics to determine future talent needs. However, less than a third are actually using technologies to achieve these goals. And almost half say their organizations’ adoption of automation, AI, and other cutting-edge technologies isn’t happening fast enough.
Some leaders are also failing to deal with mental health and diversity, equity, and inclusion (DEI) issues that negatively affect productivity, engagement, and retention. There are also shortcomings in developing new training and management styles to use skills from across the full-time and contingent labor pools. The data suggests that this lack of action is leading to lower rates of productivity, higher rates of turnover, and difficulty in attracting new talent.
Faced with these issues amid a climate of ongoing uncertainty, how can organizations build a workforce that is highly resilient and fit for the future?
We believe the findings of our survey – explored in detail over the following pages – provide a number of insights that can help businesses across sectors to achieve the resilience they need to thrive in a post-pandemic world.
In particular, the data uncovered an elite group of organizations – which we call the ‘Vanguards’ – which have seen employee wellbeing and productivity improve, even during the Covid-19 pandemic.
Additionally, throughout the report, you will find insights and quotes from our independent in-depth interviews with five business leaders. Through these conversations, we gained an on-the-ground perspective on how each leader is helping their organization respond to the pandemic; their priorities over the coming months; and the initiatives that have been most successful in bolstering workforce resilience.
We would like to thank the following individuals for participating in an interview for the research:
