How employees around the globe are redefining the future of work?
ADP Research Institute found that 64% of the global workforce was negatively affected by Covid-19, including those who lost jobs, were furloughed, and those who took a reduced salary. With all these labour market shifts, employees around the globe are reprioritizing and redefining the future of work. As businesses navigate this new normal, they need to adapt to these new demands or they’re risk low retention rates.
People and purpose will drive workforce culture
As employers look to diversify their teams, connection will be an indicator of company culture. Employees want to feel connected to and have a relationship with their employer. ADP found that US employees who feel strongly connected to their employer are 75 times more likely to be engaged with their work.
Since connection increases engagement, employers need to turn their attention to their staff and what unites them as a workforce. Employers interested in driving this engagement also need to emphasize people-centred initiatives and workforce flexibility. Getting involved with inclusion, diversity and equity strategies and initiatives will also produce measurable progress.
How employee visibility will be redefined?
According to an ADP study, a considerable segment (75%) of the global workforce actively changed or made plans to change their living circumstances in under two years. Covid-19 significantly impacted employees’ locations. As new working arrangements are being introduced, employers will need to explore new ways to increase employee visibility and understand the needs of a digital workforce.
Although we are now in a world where flexible workplace models are becoming the norm, fostering a sense of connection is still important. This new dynamic that relies on mutual trust will drive employee engagement and their connection to their company. People data will give managers insight into engagement and performance and help them make appropriate decisions to support their remote teams.
How reliable data and expertise will power resilience?
As employees continue working in their remote and hybrid arrangements, more operational and compliance considerations will be required on top of an already complex regulatory environment.
Company leaders need to rely on real-time data to aid decision-making and get a head start on further compliance mandates. Using timely and quality data empowers businesses to confidently make important decisions.
How greater innovation will accelerate growth?
As business models evolve, companies are turning to technology to increase their efficiency by eliminating task work and shifting the focus to growth initiatives. New technologies can drive efficiency for employers while also providing flexibility and control for employees. Automation and resources like self-service tools allow employees to focus on more meaningful responsibilities and relieve them of more mundane tasks.
As job positions evolve, it’s predicted a surge in skills-based hiring can further innovation. Due to the pandemic and the market shifts, many employees had to take on a new or changing role. With many people needing to reskill, employees will continue prioritizing skills and ceasing opportunities to apply them. Employers need to focus on individual strengths and offer career development opportunities to keep employees satisfied.
Employees who feel connected to their work and empowered by their employers are more likely to succeed
As work dynamics continue to shift this year and beyond, employees will be significant players in how companies adjust. Companies that want to increase performance and growth have to recognize the power of people. When employees and businesses work together
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