John Yuva, Author at The Future of Work Exchange

Optimize Your Workforce with Recession-Proof Strategies, Part One

Business Leadership Contingent Workforce General Insights HR Talent by John Yuva on 08/03/2023

We’re now two months into the second half of 2023 and economically speaking, things are looking positive. The Bureau of Economic Analysis reports that GDP grew 2.4% in the second quarter of 2023. The labor market remains tight with unemployment at 3.6%, a rate not witnessed in decades. However, according to the U.S. Bureau of Labor Statistics, the tight labor market provides the Federal Reserve with the flexibility to continue raising interest rates to fight inflation. Currently, inflation rests at 3%, a percentage point higher than the Federal Reserve’s longer-run goal of 2%.

Does the state of the current U.S. economy equate to a “soft landing” and the evasion of a recession? Maybe, maybe not. Due to the expectation of continued interest rate increases and the potential ramifications, uncertainty remains among executives and their enterprises. Thus, many are considering strategies over the next six to 12 months to recession-proof their critical workforce and their organizations.

With that in mind, over the next few weeks, the Future of Work Exchange will feature a three-part series exploring several contingent and overall workforce strategies to achieve a recession-proof enterprise. Let’s begin part one this week with a look at our first three strategies.

Higher Utilization of the Contingent Workforce

The contingent workforce presents enormous opportunities for enterprises. It opens the door to global talent that was not accessible by the organization in the past. The remote/hybrid work model means attracting contingent workers who are seeking workplace flexibility and balance. Once in the door, maximize how contingent workers are utilized within the enterprise. First, whether it’s a unique skillset or competency, contingent workers can help train employees in those areas to expand the capabilities of the entire workforce. Second, integrate contingent workers into the workplace culture, providing a greater sense of purpose and achievement — enhancing collaboration and teamwork. And third, ensure a diversified recruitment strategy to hire contingent workers who bring unique perspectives that can translate into potential innovations and business solutions.

Use of Skilled Contingent Workers for Critical Projects

The contingent workforce is much more advanced than it was a decade or more ago. The gig economy is ripe with contingent workers who bring best-in-class competencies to organizations of all sizes. The timing couldn’t be better with many HR leaders and recruiters now shifting to skills-based hiring for both their permanent and contingent workforce. Today’s roles and projects often require specialized skills, making freelance and contingent workers ideal candidates for executing those opportunities. Positions can remain open for several weeks, costing enterprises time and money until those roles are filled. Instead, tap into top-tire talent within the extended workforce to deliver immediate performance and drive long-term value.

Improve Overall Operational Agility for the Future

To best recession-proof your enterprise, agility is required. What does this mean exactly? It means having the organizational capabilities to adjust to changing conditions quickly and easily with little to no operational disruption. Enterprises must optimize their processes and workflows in all areas of the business for greater flexibility and resiliency. In procurement, for example, securing a second and possibly third source of supply mitigates the risk of production delays and product shortages. Implementing automation for accounts payable streamlines the payment process and reduces processing errors. And in HR, leveraging contingent labor during periods of peak demand ensures workforce optimization.

The economy is proving resilient against a recession. However, implementing workforce strategies today that can weather an unexpected economic downturn will only pay dividends in the long term. Next week, we’ll explore three more recession-proof enterprise workforce strategies.

Improving the Impact of Direct Sourcing: Driving ROI Through Dynamic Talent Strategies

Direct Sourcing Events by John Yuva on 07/31/2023

In today’s frenetic business climate, there are many factors that can prohibit the modern enterprise from succeeding. Perhaps the largest of these is the major skills gap that exists within a majority of businesses today, and the inability to support critical projects and initiatives with the necessary expertise. The past three years have marked a significant shift in the world of talent acquisition, with a global pandemic setting the stage for a complete transformation of the workforce. Amidst economic uncertainty and the need to navigate uncharted waters, organizations have come to realize that finding, engaging, and deploying top talent is no longer just an advantage, but rather a critical imperative.

Direct sourcing has emerged as the most viable and powerful of talent engagement strategies to boost the depth and quality of talent, enhance skills pipelines, and contribute to forward-looking talent acquisition initiatives. While direct sourcing programs remain the “hottest” of strategies today, there is a question of how to improve their ROI and enhance the overall value that direct sourcing brings to the contemporary organization.

Join Ardent Partners’ SVP of Research, Christopher J. Dwyer, along with LiveHire’s Executive Vice President, Karen Gonzalez, as they discuss the landscape of direct sourcing today and how it fits into 2023’s Future of Work-led business arena. Gonzalez and Dwyer will unveil strategies for improving the overall ROI of direct sourcing and how to position programs to succeed, and thrive, in the months and years ahead. Click here (or below) to register for next week’s exclusive event.

Elevate Your Future of Work Processes with Blockchain

Business Leadership Contingent Workforce Direct Sourcing Technology and Innovation Uncategorized by John Yuva on 07/27/2023

One of blockchain’s chief benefits is the ability to authenticate and protect information. With today’s decentralized workforces, there is a variety of information possibly at risk, including payroll, insurance, health, and personnel data. Similarly, HR and enterprise recruiters want assurance that potential job candidates and their résumés are authentic and accurate. Blockchain technology has the potential to provide the necessary verification and protection of such sensitive workplace data.

Here are three Future of Work areas where blockchain technology could provide critical verifications and safeguards, particularly for the contingent and gig workforce — from the recruitment to the contracting and payment process.

Recruitment

As direct sourcing becomes more ubiquitous, the need for data verification grows because of the sheer volume of candidate information entering job portals. It can be time intensive for HR and enterprise recruiters to verify qualifications and references. Blockchain can help in the recruitment process.

A candidate’s digital identity on a personal blockchain can save tremendous time authenticating a résumé and associated work experience. It serves as a single source of truth for that individual.
Colleges and universities are now issuing digital degrees through blockchain that candidates can provide a direct link to on their résumés. This same concept of virtual credentials can apply to training certificates and performance reviews for future authentication.
Reduce opportunities for fraudulent candidate information while providing greater confidence in using search engines and other aggregate technologies to automate candidate recommendations and selection.

In a Datatechvibe article, the author states another reason to embrace blockchain for recruitment purposes, “HR managers may become more predictive in anticipating HRM developments by embracing blockchain. They can replace vacant positions faster because the technology cuts the time it takes by leaps and bounds, and they can also improve the data’s legitimacy and dependability.

“Furthermore, they can scale quickly, resulting in a larger candidate pool and a larger data repository to collect data.”

Smart Contracts

When selection of job candidates for contracted or temporary work occurs, an enterprise can institute a smart contract on a blockchain. IBM describes smart contracts: “Smart contracts work by following simple ‘if/when…then…’ statements that are written into code on a blockchain. A network of computers executes the actions when predetermined conditions are met and verified.

“These actions could include releasing funds to the appropriate parties, registering a vehicle, sending notifications, or issuing a ticket. The blockchain is then updated when the transaction is completed. That means the transaction cannot be changed, and only parties who have been granted permission can see the results.”

Such employment contracts provide transparency and immutability for all parties and enable greater enforcement of their terms, conditions, and penalties. With a growing percentage of contingent labor, enterprises can initiate a smoother and more immediate payment system while also benefiting from a paperless process.

Payroll

With smart contracts in place, payroll is where blockchain can add immense value. Much of an enterprise’s most sensitive data resides in payroll — tax documents, pay stubs, benefits information, etc. Blockchain can protect these sensitive records from potential fraud and cybersecurity threats.

In terms of the payment process for contingent and gig workers, enterprises can establish a secure peer-to-peer network and use blockchain for near-instantaneous payment without the involvement of financial institutions. Thus, they can receive instant payment once their contractual obligations are met — without waiting for a pay period or invoice processing.

Blockchain is even more critical for international contractors and gig workers. The Future of Work is a global paradigm with accessible talent worldwide. However, some professionals cannot set up a bank account in their country. Blockchain and peer-to-peer networks solve that issue. In an article for Tech Target, Pam Baker, a technology and blockchain expert, says that with cross-border payments, “Traditional electronic payments (to the receiving country) can be stymied by local regulations and IT security schemes that blockchain payroll systems can overcome.”

Implementing blockchain technology into Future of Work processes will not occur overnight. Enterprises need to work with financial institutions, managed service providers, and other partners to adopt the technology and establish protocols. However, blockchain holds great promise as more organizations pursue digital transformations. The foundation exists to bring blockchain into HR process design. Like many things in business, communication and collaboration will be essential to blockchain’s implementation and realization.

HR Transforms into FOW Advocate

Business Leadership Contingent Workforce Diversity and Inclusion General Insights HR Procurement Talent Talent Acquisition Uncategorized by John Yuva on 07/20/2023

Human resources as a function is experiencing a transformation as the Future of Work paradigm extends into more enterprises. Previously a benefits-focused department, HR is now regarded as a strategic partner in attaining business goals and objectives. Chief human resources officers are now tasked with leading total talent management efforts across the organization, ensuring the right talent is at the right place at the right time.

Growing Priorities, Balancing Demands

The Future of Work includes many tenets from flexible works models (remote and hybrid) to work/life balance considerations to diversity, equity, and inclusion (DE&I) programs. HR must now balance those priorities, along with talent acquisition and talent management demands that align with the current and future needs of the enterprise. That’s no small feat!

With contingent labor comprising nearly 40% of the total workforce, according to Future of Work Exchange research, HR must collaborate cross-functionally to not only understand staffing needs but the skillsets behind those roles. HR has evolved where partnerships with business managers and executive leadership are essential to the future competitiveness of the enterprise. In many ways, HR is now becoming the central role for both workplace and enterprise strategy execution.

In an article for Forbes, Joey Price, CEO for Jumpstart: HR, writes: “What’s the secret behind high-performing organizations? They are most keenly aware of the critical role that their organization’s human resources function plays in activating its overall success. If you think human resources is just a support system (*cough* “back office” *cough*) for your business, it’s time to reimagine your relationship.”

HR Impacts on FOW

HR’s impact on the Future of Work cannot be understated. It holds the keys to the execution success of Future of Work strategies. With that in mind, let’s look at several FOW areas where HR has a growing influence.

1) Human Capital Initiatives

Human resources is a human capital-intensive function. As such, building initiatives that increase employee engagement and promote a positive work culture are critical responsibilities for HR managers and executives. At the forefront of those efforts are diversity, equity, and inclusion (DE&I) initiatives. With more employees working remotely or in a hybrid work model, enterprises are attracting candidates on a global scale. Thus, the workforce today is a melting pot of different cultures, backgrounds, and lifestyles. Leveraging such diversity means developing DE&I initiatives that provide a sense of belonging and community — leading to an engaged and supportive workforce culture.

2) Work Model Influencers

The COVID-19 pandemic ushered in remote work and transformed how and where work gets done. In the last year, however, several large corporations reversed their remote work policies and asked those employees to return to the office. HR leaders are in a position to influence and advocate for remote and hybrid work models, understanding their importance to work/life balance and inclusion issues. The essence of the Future of Work is a workplace that incorporates a variety of work models to meet the needs of a talented and global workforce. Driving such policies and using data to support remote and hybrid work models is at the core of HR.

3) Talent-Centric Mentality

How and why HR sources candidates are evolving — leading to a focus on skills-based hiring. The mentality is shifting from filling a job vacancy as if it’s a commodity to truly choosing candidates based on specific skillsets that align with the strategic growth of the business. The expanding extended workforce also places more emphasis on skills and competencies than ever before. The gig economy is an ever-increasing talent pool for HR to leverage for their organization. Thus, contingent workforce management is essential to building the appropriate talent pipeline that attracts contingent candidates and retains them for ongoing strategic initiatives.

4) Balance Through Total Talent Management

As enterprises transition to skills-based hiring, it’s a natural progression toward total talent management. HR’s workforce partnerships with cross-functional business managers must encompass the totality of a department’s budget. Partnering with procurement on talent acquisition and contingent workforce management helps ensure personnel budgets remain within scope. Understanding talent spend to truly optimize the hiring of contingent labor is critical. Total talent management brings transparency to all the elements of what goes into talent acquisition. It ultimately prevents going over budget on a hire, while ensuring the enterprise achieves its talent needs.

Human resources is now much more than an administrative department focused on benefits pricing and offerings and filling vacant positions. Rather, it’s a strategic function building partnerships enterprise-wide to better achieve workplace and organizational goals while advancing and advocating Future of Work initiatives.

Leverage Digital Staffing Expert Networks

Business Leadership General Insights HR Solution Providers Talent Acquisition Technology and Innovation by John Yuva on 07/05/2023

Many times, it’s been said that having the right talent in the right place at the right time is paramount to a successful workforce strategy. While enterprises have often used traditional staffing firms to source candidates, this is no longer a viable option in today’s competitive labor marketplace. Instead, organizations are turning to digital staffing expert networks to recruit and hire candidates quickly, efficiently, and cost-effectively.

Transformative Shift to Digital Staffing

The focus on skills-based hiring is helping drive the transformation toward digital staffing. The ability to gain access to candidates with specific skills, competencies, and experience on a global scale is game-changing for many enterprises.

According to a blog post from Upwork, a global digital staffing provider connecting businesses with independent professionals and agencies, says, “As the internet has become a staple in the lives of people around the world, it has also become a central component in the modern job search.

“With the ability to match independent professionals with the skills and experience to perform excellent work to companies looking for the talent that will fit their needs, digital staffing should be a central component in the talent search for companies of all sizes.”

Leverage Digital Staffing Expert Network Offerings

As more enterprises incorporate digital staffing into their workforce strategies, they can leverage certain benefits unattainable with traditional staffing approaches. Several digital staffing providers from Upwork to Jombone, a Canadian digital staffing agency, and others cited a few of the major advantages digital staffing brings.

Cost Efficiency

Traditional talent acquisition methods can be time-consuming and expensive. Digital staffing puts pre-vetted experts from extensive databases into the hands of HR and business managers, streamlining the hiring process. According to Jombone, “Finding the right candidates for your business is critical to success, but paying too much to source them can drain your bottom line before they’ve even worked a single day. This is where a staffing platform can offer a more affordable solution.”

Specialized Expertise

One of the leading benefits of utilizing a digital staffing expert network is access to an often-extensive database of specialized professionals. Project managing a critical initiative and need certain expertise to solve a business challenge? Is there a new role for an expanding department where specific experience is required? Expert networks allow organizations to tap into their expertise to enhance problem-solving capabilities or ramp up departmental knowledge.

Networking and Relationship Building

An overlooked benefit of using digital staffing networks is corporate networking and relationship building. Engage with experienced professionals within expert networks to not only connect on immediate projects and job openings but also future collaborations, partnerships, or mentorship opportunities. Organizations can expand their professional network and tap into a broader ecosystem of experts.

Global Recruitment Pool

As Upwork stated previously, online digital staffing databases have revolutionized talent recruitment and talent acquisition processes. The access to a global pool of talent enables organizations to engage experts from different geographical locations, leveraging international expertise and diverse markets and cultures. Not only does this provide a global reach for talent needs but also broadens the possibilities for collaboration, market expansion, and cross-border projects.

Use of a digital staffing platform and an expert network database is table stakes in today’s quest for talent. It not only streamlines talent acquisition but also generates bottom-line savings. Regardless of organizational size, utilization of expert networks can be a competitive differentiator.

Strategic Workforce Planning Impacts MSP Effectiveness

Business Leadership Contingent Workforce General Insights HR Solution Providers Talent Acquisition Technology and Innovation by John Yuva on 06/27/2023

The Future of Work is an all-encompassing paradigm that transcends any one area of talent acquisition and talent management. Thus, when developing a workforce planning strategy, it must comprise every department and role in the enterprise. Yet, few organizations approach such a strategy from a holistic perspective. This can be detrimental to an organization’s skills development initiatives, talent retention efforts, and overall collaborative effectiveness with MSP and VMS partners.

Lack of Enterprise-Wide Approach to SWP

A study released by eQ8, which provides a dedicated end-to-end SaaS solution for strategic workforce planning (SWP), revealed the criticality of having an enterprise-wide approach toward SWP. Here are a few of the major takeaways from the study:

While all areas surveyed saw a greater increase in meeting their objectives using an SWP provider, the relative difference in forecasting future skills between those leveraging SWP technology and those who did not was 135%.
While one in two companies report focusing on upskilling and reskilling their current workforce, only 18% report having an excellent view into skill gaps through workforce planning to achieve future success.
Despite the increase in investment in the Future of Work with 72% of companies reporting increased investment, 60% of companies do not feel prepared.
While 85% of companies reported increased investment in SWP, only 52% are creating a consistent, company-wide approach, and only 14% of companies take a strategic, long-term approach to their workforce planning initiatives.

According to Alicia Roach, CEO and co-founder of eQ8, “Strategic workforce planning is all about driving a fundamental shift where organizations see their workforce as an asset,” she said.

“When we treat our workforce as something that creates value, achieves strategic and operational imperatives, and delights customers, we are better situated to meet our long-term goals for success. There is an innate knowing that the organization cannot get where it needs to go without its people.”

SWP for Effective Partnership Execution

Employees are a critical piece to workforce planning execution, as are managed service providers and vendor management system partners. These external partners rely on an effective workforce planning strategy to meet the talent needs of the organization. The following are several ways a holistic SWP initiative is not only necessary but essential to MSP and VMS partner effectiveness.

First, workforce planning helps MSPs and VMS providers align the demand for contingent workers with the available supply. By analyzing historical data, market trends, and client requirements, these partners can anticipate the need for specific skills and adjust their talent pool accordingly. This ensures a quick response to client demands and delivers the right talent at the right time.

Second, MSPs and VMS providers can better optimize talent acquisition and management costs through an effective and enterprise-wide strategic workforce plan. By forecasting demand and analyzing labor market conditions, they can identify cost-effective sourcing strategies, negotiate favorable rates, and avoid excessive labor oversupply or shortages — leading to controlled expenses and consistent service quality.

Third, SWP leads to the development of a diverse talent pool. MSPs can identify skill gaps, assess future talent needs, and implement strategies to attract, recruit, and retain skilled professionals. By nurturing relationships with candidates, they can build a strong talent pipeline, ensuring a steady supply of qualified workers to meet client requirements.

Lastly, workforce planning plays a vital role in ensuring compliance with labor laws, regulations, and client-specific requirements. MSPs and VMS providers need to navigate complex legal and regulatory landscapes, such as employment contracts, tax obligations, and worker classification. Integrating compliance considerations into their planning process can mitigate risks and avoid potential legal and financial consequences.

While on the surface, workforce planning can appear as a step within the Future of Work paradigm. However, it goes much deeper than that. Enterprise-wide SWP is foundational for Future of Work execution. Without it, organizations and their MSP and VMS partners are throwing darts in the dark to decide what skills exist, where talent resides, and how best to deploy it. Gain control and a proactive approach to SWP with a holistic mindset that includes input and sharing of information with MSP and VMS partners.

Soft Skills Becoming the ‘Real Skills’ in the Workplace

Business Leadership Diversity and Inclusion General Insights HR Talent by John Yuva on 06/19/2023

For enterprises to succeed today, it requires a focus on skills beyond the vocational. This doesn’t imply that sales, procurement, or financial expertise are unnecessary or less important to an organization’s operational success. Rather, it means that “soft skill” attributes are now equally critical as hard skills within the workforce. In the competitive marketplace, agility, flexibility, and resilience are imperative to weather ongoing volatility and uncertainty. What enables this? It is soft skills, or as Seth Godin, entrepreneur, best-selling author, and speaker, calls them — real skills.

Soft Skills Transformed

The growing criticality of soft skills seems a natural part of the Future of Work transition. Skills such as empathy, communication (oral and written), adaptability, collaboration, leadership, and strategic thinking are now table stakes for managers and executives. However, it’s no longer the higher ranks where real skills are necessary and desired. These skills are now core attributes for any role in today’s organizations. Imagine a workplace where, regardless of role, soft-skill development was an integral workforce strategy.

This means that real skills such as communication, collaboration, and strategic thinking are occurring at every enterprise level and among employees and project teams. Essentially, soft skills become core principles that drive organizational success and competitiveness. Making that vision a reality, however, requires a shift in executive behavior.

Progress Begins Today

There is evidence that much work must be done. Godin notes in an excerpt from his book The Song of Significance: A New Manifesto for Teams, that …“69% of managers are uncomfortable communicating with their employees.” This is a startling number. Communication skills at the managerial level are essential for communicating strategy, responsibilities, and performance effectiveness. Lack of communication severely impacts collaborative efforts and strategic decision-making.

Remarking on the statistic, Godin says, “Communicating with employees is uncomfortable because we’ve built systems of compliance and dominance that make it difficult. We ask people to leave their humanity at the door, then use authority to change behavior. We overlay corporate greed and short-term thinking with a human desire to create work that matters.”

Instead, the Future of Work paradigm promotes empathetic leadership that supports open communication and professional growth. The systems reliant on compliance and dominance are transitioning into workplace models that value teamwork and innovative approaches to solving enterprise challenges.

Everything Can Be Taught

It is often believed that only vocational skills can be taught. This is simply not true. Even Godin says leaders “underinvest in this [soft skills] training, fearful that these things are innate and can’t be taught.” Nothing could be further from the truth. Environmental factors as well as our own experiences with managers can shape how we communicate and problem-solve.

An enterprise that embraces an inclusive and diverse workplace can be successful in training employees in real skills. With behaviors modeled and supported by the executive suite, employees are more inclined to adapt and follow the lead of those they look to for guidance. Soft skills are real skills with real strategic impact. Model, train, and reinforce the power of soft skills in every organizational environment.

This article is one of several we’ve covered on soft skills. The Future of Work Exchange recognizes that real skills have real impacts on the Future of Work and workforce strategies. As more enterprises focus on soft skills as critical attributes to employment candidacy, it opens doors to technologies to better measure real skill competencies and performance. Those innovations will only strengthen how organizations source, hire, and retain their workers.

Data Delivers…But With Privacy Controls

Business Leadership Direct Sourcing General Insights HR Technology and Innovation Uncategorized by John Yuva on 06/06/2023

The innovative technologies available to enterprises for talent acquisition and talent management are growing exponentially. Along with the growth in HR technology is the vast amount of data that comes with it. Direct sourcing solutions, for example, collect an enormous volume of data about potential candidates. Now with the power of artificial intelligence (AI), an even deeper analysis of employee data can be accomplished. While these insights can be game-changing for workforce productivity and employee engagement strategies, there remains a question about employee privacy.

Technology Pushes Privacy Boundaries

HR is the keeper of the most sensitive employee data in the enterprise from social security numbers to performance reviews to salary information. This standard information has always been under lock and key. However, technology is now extending data into more delicate areas, leading to privacy and security concerns. Consider wearables technology that enterprises are now experimenting with. Used extensively in retail and logistics environments, organizations can now track employee behaviors and health metrics, such as blood pressure, sleep patterns, and daily steps to monitor well-being and engagement.

While HR technologies can help with employee and organizational engagement, enhance efficiencies, streamline processes, and improve executive and managerial decision-making, what are the privacy and security issues of such advancements?

Data monitoring protections. The collection of data through monitoring or surveillance technologies opens the door to sensitive employee information. Whether it’s work habits and behaviors, such as productivity or attendance metrics, or more general health-related information, enterprises should establish clear policies and communicate transparently about the purpose and extent of monitoring to address privacy concerns. In the case of wearables, what are the objectives of using these devices? How will the information be stored? And who has access to it?
Data access controls. One of the biggest issues is simply the access and sharing of candidate and/or employee information. More HR data is now accessible by a larger stakeholder pool. HR personnel, managers, executives, and external service providers are privy to employee data. It is essential to establish strict access controls and protocols to ensure that only authorized individuals can access the data. Moreover, the sharing of employee data with external vendors or partners should be governed by clear policies and data protection agreements to protect employee privacy.
Data ethics guidelines and processes. How data is used by enterprises can come under great scrutiny if ethical guidelines are not instituted to prevent misuse or discrimination. Guidelines should begin with obtaining consent from employees to collect, use, and store their personal information. Similarly, enterprises should allow employees access to their information for review and correcting inaccuracies. As organizations integrate artificial intelligence tools into their HR solutions, an audit of algorithms should occur to prevent any biases.

HR technology is ushering in innovations that can truly transform and revolutionize the workplace and workforce strategies. However, the immense data generated can erode employee trust if not properly shared and protected. Compliance with privacy laws and regulations both in the U.S. and abroad is absolute. Equally critical is transparency with contingent and permanent employees around the collection, usage, and storage of data. Communicate that data privacy and individual rights are extremely important to the enterprise, as are cybersecurity measures.

Workforce analytics alongside other forms of intellectual property are competitive differentiators that enterprises must protect. Complacency is not an option in today’s data-driven world.

Business Leaders Reap Flexibility Rewards

Business Leadership General Insights Talent Talent Acquisition Uncategorized by John Yuva on 05/30/2023

In the last 12 months, several high-profile enterprises have rolled back their remote work policies, requiring employees to return to the office. Most cite more effective communication, collaboration, and team bonding as primary reasons. While corporations like Disney, Apple, and JPMorgan will dominate the headlines with their announcements of in-person work, recent Ardent Partners and Future of Work Exchange research (2023) indicates an overall preference for workplace flexibility.

The research revealed that 97% of business leaders prefer some level of flexibility in their workplace. Consider this breakdown of leader preferences: flexible and remote options (64%), a mix of remote and in-person (33%), and fully in-person/office (3%). While there may be some validity to the myriad of reasons organizations are reverting to in-person work, the global workforce coupled with today’s collaborative technologies solves many of those challenges. Obviously, it largely depends on the nature of the work — an office environment versus a manufacturing plant.

How Employees Work Is Personal and Unique to Them

However, business leaders are realizing the value of a flexible work environment. Jennifer Jones Newbill, director, global employment brand for Dell Technologies, was quoted in FlexJobs as saying about the effectiveness of workplace flexibility, “Our employees really value flexible work! Our employees have told us time and time again that they appreciate being treated like adults. They like to self-monitor, and that would include how they pace themselves, what times of day they work, and where they choose to work from.

“The power of my team right now is that we’re global … We really bring a powerful collective by not all being in the United States, sitting in the same building together … If we were doing what we are doing with 10 people, all in the U.S., all in the same office, all in Texas, I don’t think we would be as cohesive and strong as a team.

“How people work or want to work is very unique and personal to them.”

As Newbill points out, it’s not about workplace control. In the past, productivity could come at the expense of forcing the proverbial square peg into a round hole. This often led to lower productivity rates, employee disengagement, and retention challenges. Today’s Future of Work paradigm puts the focus on the employee to maximize their productivity and engagement within the environment best suited for them.

Flexibility Opens Opportunity

What rewards are business leaders reaping from this approach? There are several. And as younger generations enter the workforce, the value will only continue to evolve and grow.

Talent attraction and retention. The war for talent remains. In a competitive job market, providing flexibility gives businesses an advantage in recruiting top candidates. This dovetails into building a diverse, skills-based talent pool, aligning with many agile workforce strategies.

Adaptation to changing expectations. The modern workforce has evolving expectations when it comes to work arrangements. This is only going to increase as younger generations populate the workforce. Millennials and Gen Z, who comprise a significant portion of the labor market, often prioritize flexibility and work-life balance. To attract and retain these employees, businesses must adapt their policies to align with growing expectations.

Employee satisfaction and well-being. Any enterprise that undervalues employee satisfaction and well-being is losing the war on attracting and retaining talent. When employees have more control over their work schedules and can accommodate personal obligations, they tend to be happier, more engaged, and less likely to experience burnout.

Operational agility and resiliency. With today’s market volatility, agility and resiliency permeate throughout workplace objectives. Whether it’s a natural disaster, supply chain disruption, or internal challenges, businesses with flexible work arrangements are better equipped to maintain operations and ensure business continuity.

As much as some business leaders want to institute more workplace control and limit or remove remote work options, the flexible workplace is here to stay. Whether it’s a team of 10 or a global workforce of hundreds, the Future of Work is now ingrained in the global work culture. The value of workplace flexibility can far outweigh the constrained approach. Provide employees with a sense of workplace ownership to cultivate a culture of engagement and resiliency.

Technology Adoption an Accelerant for Future of Work

Direct Sourcing General Insights HR Solution Providers Talent Technology and Innovation by John Yuva on 05/23/2023

Within the last few months, coverage of technologies like artificial intelligence (AI) and augmented reality have heated up. With apps such as ChatGTP, anyone can test the AI waters and its relevancy to workplace efficiencies. Recent Ardent Partners and Future of Work Exchange research indicated the adoption of new workforce technology and solutions is an enterprise imperative for 68% of survey respondents.

One of the defining characteristics of the Future of Work is digitization. Enterprises are now operating with more remote and hybrid workplaces. Thus, technology is imperative to a cohesive and efficient workforce. What this means for the individual employee is more daily immersion in various technological platforms and solutions. Upskilling will be a critical aspect for workers as they harness more advanced technologies to communicate, collaborate, and execute their roles.

Digital employee experience (DEX) is a term that describes how effective workers are in using digital tools. DEX is a growing area of interest as companies adopt a plethora of digital tools to augment their dispersed workforces. Companies want to ensure the tools they have integrated into the workplace are intuitive and enhance worker productivity.

Tom Haak, director at the HR Trend Institute, says, “Technology offers enormous opportunities to improve the life of people in and around organizations. In HR, the focus is still too much on control and process improvement, not enough on really improving the employee experience.”

Today, with remote and in-person workers, enterprises must bridge those two environments and focus on technologies that both attract and retain workers regardless of where they work. Technology that supports the Future of Work comes in a variety of forms. Often, artificial intelligence (AI) permeates many digital solutions, providing automated processes and data outputs for better workforce decision-making.

Throughout the remainder of the year, the Future of Work Exchange will be highlighting several technologies from blockchain to e-wallets, and how they impact Future of Work strategies. However, the following are technologies that business leaders and employees are using now and, in the future, to enhance the DEX and drive workplace efficiency and community.

Communication and Collaboration

The COVID-19 pandemic put communication and collaboration to the ultimate test. Enterprises and employees experienced first-hand the potential of digital communication as they grew accustomed to using Zoom, Slack, and Microsoft Teams. These platforms proved that remote work could, in fact, be accomplished with the same productive and strategic outcomes as in-person work models. It is one of the major reasons why remote and hybrid workforce options were embraced by enterprises post-pandemic.

There are several communication and collaborative tools to serve the enterprise and its remote and in-person workforce. Basecamp provides both a communication and collaborative platform to keep projects on schedule and lines of communication open. Trello also makes project management run smoothly regardless of where an employee is based.

Beyond these more common collaborative solutions, companies are utilizing chatbots for internal use for collaborative purposes and employee support. ServiceNOW, for example, offers its Virtual Agent solution to bring people to the same collaborative workspace or provide answers to employee questions.

Another evolving collaborative offering is the virtual whiteboard for use during company and team meetings. Companies such as Miro, MURAL, and Stormboard provide effective tools for diagramming and presenting in real time.

Big Data (Predictive and People Analytics)

Volumes of data flood enterprises from a variety of sources. For HR and other business leaders, big data is crucial to their Future of Work strategies, generating analytics across the talent acquisition and talent management landscape. Predictive analytics, for example, will grow as a key component of direct sourcing initiatives to curate a pipeline of potential job candidates.

According to a post on the Future of Work Exchange (FOWX), “While predictive analytics are not commonplace today, soon, a majority of enterprises will look to scenario-building as a way to enhance overall talent intelligence. Predictive analytics, in this realm, will augment the organization’s overall knowledge of its in-house skills as well as the expertise available externally (across all talent communities, including talent pools).”

Where predictive analytics will help prepare the enterprise for its future talent needs, people analytics are necessary to understand how employees are embracing digital tools and applications. Are shared applications being utilized by the workforce? Is there participation in virtual workspaces? What are employee sentiments around an enterprise’s digital transformation? People analytics help answer these questions and provide key insights into employee productivity, well-being, and digital adoption.

Virtual Reality

In a previous post, FOWX explored the possibilities of the metaverse. Virtual reality will stretch the limits of employee interaction and community. Virtual workspaces where employee avatars can converse and strategize are likely to come to fruition in the coming years. It levels the playing field for remote and in-person employees by creating a setting for everyone regardless of location.

Artificial intelligence is also a major piece of the virtual reality offering. Currently, employees can create an avatar to complete repetitive tasks using AI or communicate with customers to answer product questions. As technology advances, the potential influence of virtual reality on the Future of Work will only increase. Today’s chatbots are just the beginning of how enterprises can leverage the virtual world and bridge humans with AI.

Just as the Future of Work evolves, so too will the technologies that support it. There are dozens of software applications on the horizon to benefit business leaders and their employees. Explore the options and how they align with your workforce strategy.