Follow up Blog #2 - the Future of Work Is Already Here: Are You Going to Be Ready or Be Left Behind?
What does the future of work look like in your organization?
We posed this question in my last post, here. Of course, there are several factors to consider when making such a prediction, and many of these remain unknown.
One thing we do know with great certainty is that leaders and managers need to consider how to remain flexible, adaptable, and well informed on trends as they change, especially those related to evolving shifts in roles, skills, and organizational structure.
According to McKinsey, the pandemic highlighted the impact of physical proximity in the workplace, and spurred changes in business models. Based on their research in eight countries, including China, France, Germany, India, Japan, Spain, the UK, and the USA, McKinsey found that the physical dimension of work is a new factor shaping the future of work, primarily as it relates to health and safety considerations. The four work arenas most affected, both short- and long-term, include:
Leisure and travel venues (including restaurants and hotels)
On-site customer interaction (including retail and hospitality)
Computer-based office work
Production and warehousing
Work Trends
If you’re anything like the leaders McKinsey surveyed, you’ll see an acceleration in three groups of consumer and business trends that are likely to persist beyond the pandemic:
Remote work and virtual interactions. According to their research, 20-25% of workers could work remotely 3+ days/week on a long-term basis. This represents four to five times more virtual/remote employee work/interaction than pre-pandemic.
Surge in use of e-commerce and other digital platforms. Digitization of products and services has grown two to five times during the pandemic. McKinsey predicts a shift to gig jobs in the independent workforce.
Deployment of automation and artificial intelligence (AI). Their research found an uptick in the use of robotics, robotic process automation, and AI. In a July 2020 global survey of 800 senior executives, 66% indicated plans to invest in automation and AI, “either somewhat or significantly.”
Many leaders are in the process of making strategic decisions about the future of work, including whether or how to develop ongoing remote and hybrid work. Based on the conversations I’ve been having with them, they are considering policies and practices that support the employees they lead, the clients they serve, and achieve optimal performance.
The best leaders:
Remain flexible. Look beyond the pandemic to reimagine how and where work can be completed. Employee response to Covid-19 demonstrated an ability (and willingness) to quickly adapt to rapid changes in working practices. Leaders who remain flexible and work with managers and employees can improve processes, efficiencies, and productivity.
Consider hybrid options. Continue to analyze activities that can be completed remotely without a loss of productivity. Review your health and safety policies and practices, including vaccinations. With input from different perspectives, including managers, employees, and teams, devise an intentional approach as to when and where they are in the office together.
Communicate effectively. Leaders have an opportunity and responsibility to be proactive and intentional. This means listening, as well as consistently sharing information. Ensure you have strong, two-way communication in place that allows everyone to raise questions, concerns, and ideas without fear of personal repercussion.
McKinsey predicts that more than 100 million workers may need to switch occupations by 2030 as middle- and low-wage jobs decline, and more high-wage jobs increase. I’ll dive into that in another post, but in the meantime, what do you think?
How do you foresee the future of work? We’d love to hear from you.