Employees expect leaders to place a higher focus on employee well-being, flexibility, and work-life balance.
The world as we knew it has changed. The business landscape as we knew it has changed in an even bigger way. No organization, large or small, was fully prepared for the drastic shift in working methods that was needed to keep employees safe. Almost every organization had to undergo some amount of digital transformation overnight. The envisioned future of workOpens a new window came sooner than anticipated. As companies create their return-to-work strategies, it is time to take a closer look at the changes that are needed to ensure success.
A new Cisco-commissioned research report named “A New Perspective on the Modern WorkplaceOpens a new window †shared some future-focused lessons for IT and business leaders. The research was designed and executed by the IT industry analyst firm Freeform DynamicsOpens a new window and the inputs were gathered via three separate but linked studies covering the pre-pandemic to the mid-pandemic period (late 2019 to May/June 2020).
The six lessons shared based on the research were:
1. What business agility really means
2. The real value of modern technology options
3. The true nature of workforce productivity
4. The essential nature of social interaction
5. The future of health and well-being
6. The extended talent opportunity
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What Does Cisco’s Report Reveal?
Three key findings come out of this report.
1. Businesses will emerge stronger from the crisis
74% of respondents shared that their business will in emerge stronger from the crisis in many ways. The source of this belief is likely to be the transformation and innovation that most organizations have shown. Most changes have been around digital growthOpens a new window and the faster adoption of technology since plans that were designed for phase-wise implementation have been executed in a matter of a few months.
The first two lessons that refer to business agility and technology options are essential for this trend to be realized. Optimism about business recovery is necessary, but without specific long-term action, it may take a while before becoming a reality.
2. Flexible work will remain prevalent
Almost half (49%) of respondents believe that flexible working hours are here to stay and that the acceptance of increased remote work will lead to a more inclusive talent pool. Other studies have shown that remote working has resulted in higher productivity.Opens a new window The change that the Cisco report refers to is already emerging.
For example, before the pandemic-driven crisis set in, less than 4% of U.S. employees worked remotelyOpens a new window because of the belief that remote workers were less productive and engaged. However, now 74% of CFOsOpens a new window shared that they plan to increase remote work in their organizations even after the pandemic is over.
Two factors are driving this decision apart from the increase in productivity. The first is a higher level of employee-employer trust owing to working virtually for an extended period. The second is that organizations also realize the financial benefit of having a virtual workforce since it can reduce real estate costs significantly.
The third and fourth lessons about real productivity and social interaction respectively are related to a drastic change in mindset as well as behavior that leaders need to continue demonstrating in the post-pandemic world. The last lesson about extended talent opportunity also links to this finding and the possibility of accessing a limitless pool of diverse talent.
3. Higher focus on employee well-being and work-life balance
Managers are likely to place a higher focus on well-being and work-life balance. 87% of respondents shared that due to the pandemic, they have increased the emphasis on employee well-being and work-life balance. The fifth lesson about health and well-being is linked to this finding. As per this survey, out of the 100 senior IT professionals surveyed, 76% felt that employees found it hard to maintain their work-life balance.
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The study has shown some key trends that need to become an integral part of workplaces, even in the future, after the pandemic. While the pandemic might have caused serious disruptions in existing operating models, it has also triggered a major mindset shift. Can organizations use this shift to make permanent changes in the workplace of the future?