Remote Work Archives - Page 4 of 10 - The Future of Work Exchange

The Future of Work is not Static, So Where Is It Heading?

Events by Christopher J. Dwyer on 10/05/2022

The latest episode of the Future of Work Exchange Podcast (listen here) discussed how the Future of Work movement is and will never be “static.” In essence, the continued evolution of talent acquisition, the unrelenting pace of new innovations and technology, and the complete transformation of business leadership will always be moving forward in some sense, especially considering the breakneck pace of the economic, political, and social aspects of the corporate arena.

Sometimes leaders will ask the question, “What IS the Future of Work, really?” However, the question we should all be asking ourselves at this very moment is “Where will the world of talent and work go in the months and years ahead?”

To this end, the Future of Work Exchange is excited to host an exclusive event tomorrow (Thursday, October 6 at 1pm ET) focused on the five things that every leader must know about the Future of Work. I’ll be joined by Ardent Partners’ Chief Research Officer, Andrew Bartolini, as we discuss what’s ahead for the extended workforce, the technology that supports strategies such as direct sourcing and remote work, the impact of non-tech attributes like DE&I and conscious leadership, and so much more. Register below…and I hope to see you there tomorrow!

Upwork’s Work Without Limits: Grand Redesign with Tim Sanders

Business Leadership Events Solution Providers by John Yuva on 10/04/2022

Upwork, a global talent and work platform, recently held its Work Without Limits summit as an in-person and streaming event in Chicago. The main stage was filled with customer and enterprise presenters, including Upwork’s Tim Sanders, vice president of client strategy, who discussed the grand redesign opportunity and what the breakdown of the old rules of work means for companies today. (Check out the Future of Work Exchange‘s coverage of the event.)

Defining Grand Redesign

Sanders began his session with a fascinating story about the rise of Shantanu Narayen to CEO of Adobe Inc. in 2007. Adobe was a behemoth software company known for its innovative products like Illustrator, Photoshop, Acrobat, and many others. In the industry, it was second only to its rival Microsoft.

However, in 2007, the company experienced the ramifications of software piracy, losing $1 billion. A year later, the Great Recession took its toll on the company’s flagship Adobe Creative Suite product offering. At a $1,800 price point, companies closed their wallets and revenue declined 20% within the first eight weeks of the recession.

What was Adobe’s response? Mark Garrett, Adobe’s chief financial officer in 2008, recognized the potential of cloud-based subscription models. Thus, the company embarked on its grand redesign, transforming from a physical product-oriented company to a 100% digital, cloud-based subscription service. In 2012, Adobe released Creative Cloud to the world with an entry-level price point of less than $60 compared to $1,800.

Sanders noted that Adobe’s grand redesign was one of the biggest turnarounds in corporate history, growing its market cap from $15 billion in 2012 to more than $200 billion today. Knowing not to rest and accept the status quo, especially during a recession, the company leveraged the opportunity to combine desktop, mobile, and services into a single customer package — shutting the door to the competition.

Our Present Grand Redesign Opportunity

This brings us to today. Sanders explains that companies are experiencing another period of great disruption — the COVID-19 pandemic and its impacts. Now is the time to move beyond the status quo and redesign the workplace. He says there are six workplace design options on the table.

Remote first. Companies that choose this design option fully embrace remote work and use it strategically as part of their operational and talent acquisition models.
Remote-friendly. More organizations are choosing a remote-friendly design that embraces a distributed workforce for certain roles, talents, and situations. It is not a complete remote first transition, but companies are willing to consider it as a possible default. Sanders says that if companies are not remote first, they must accept remote-friendly to be competitive.
Remote for now. This has been the workplace design model for many companies since the beginning of the pandemic. However, this model will disappear as companies commit to a long-term design strategy.
Hybrid by role. Essentially, certain roles (e.g., doctors, nurses, warehouse workers, etc.) must be in-person due to the work type. Other roles can be accomplished remotely.
Hybrid-by-day mix. In many ways, this is simply a compromise for those who want to be remote. It allows remote work for two to three days per week. The drawbacks? There are no savings on real estate costs and there’s a reliance on local talent.
Onsite first. Everyone is required to work on-site with few to no remote work options. For retail organizations, Sanders questions whether it’s necessary for marketing or back-office technology employees to work on-site. There are remote work opportunities that could be leveraged.

*Tim Sanders, VP of Client Strategy at Upwork, discusses “The Grand Redesign.” (Photo credit: Upwork)*

Identify Your Model to Rewire Your Organization for Remote-First

Which workplace design model represents your company? Answer that question first, says Sanders, then pose three additional questions.

Are you satisfied with the talent in your local markets to make you competitive to achieve digital transformation and stand-up artificial intelligence? Are you ready? Are your local markets really that strong?

And as a follow-up question, are there any remote-first companies running recruitment ads in your market? If so, that’s going to change the picture even if you think you’re comfortable with the strength of your local market.

Have your leaders figured out managing based on outcomes or are they still stuck in the past of AAA management — attendance, attitude, and aptitude?

If your leaders have learned how to manage based on outcomes, then they’re completely equipped to manage without seeing people physically every day in the office.

Have you invested in tools and training for people to learn how to collaborate and culture-build at a distance?

Culture is not about your office. Instead, culture is a conversation led by leaders about how we do things here. It’s about storytelling and how we succeeded in the past. If you want to build a better culture, focus on cadence, not location.

Sanders says these are the questions to ask yourself. The good news? As you embrace remote-first (or at the very least, remote-friendly) workplace design, you are going to rewire the organization.

Develop Your Soft Skills for the Future

Business Leadership General Insights HR Procurement Talent by John Yuva on 09/29/2022

When I think about the Future of Work, communication, collaboration, and innovation immediately come to mind. There is an elicited sense of interconnectedness between companies and their suppliers, leaders and their workforce, and among employees themselves. What is the success enabler of the Future of Work? If you tear back the curtain, it’s soft skills that are driving business outcomes and workforce interactions.

Think this is a new revelation? Not quite. In 1918, the Carnegie Foundation published Charles Riborg Mann’s A Study of Engineering Education, which cited that 85% of a person’s job success is a product of soft skills and that only 15% of success is based on technical knowledge. Even more than 100 years ago, the criticality of workplace soft skills was being emphasized. However, the pandemic helped bring soft skills into sharper focus as other Future of Work elements (e.g., flexibility, remote work, empathetic leadership) became mainstream concepts and areas of importance.

Soft Skills in the Age of COVID-19

Our new normal is a volatile, fast-moving business environment. Companies must adopt a more proactive approach toward market change and customer demand. As such, the silos that exist within the four walls of many enterprises must come down. Workplace silos are the barriers to soft skill execution.

Even leading up to the pandemic, LinkedIn’s 2019 Global Talent Trends report revealed that soft skills (91%) were the top trend transforming the workplace as cited by talent professionals. Soft skills, such as creativity, adaptability, and time management, are critical to the future of recruiting and HR. In the same LinkedIn report, several vital statistics emerged:

Eighty percent of survey respondents said soft skills are increasingly important to company success.
When hiring talent, 91% of respondents said soft skills were as important or more so than hard skills.
In the case of a bad hire, 89% agreed that the employee typically lacked soft skills.

Since the pandemic, the need for soft skills has only amplified. The remote workforce environment during the previous two years brought soft skills into the spotlight as employees adjusted to communicating and collaborating virtually with colleagues and partners. Learning to work together on a project as a remote team or understanding the emotional needs of your team members amid a pandemic reinforced why soft skills are essential. For some, it brought attention to further invest in their soft skills toolset.

Essential Soft Skills for the Future of Work

Navigating today’s workplace with both a remote and in-person workforce requires a host of soft skills to operate efficiently and productively. The following are several soft skills and how they affect the Future of Work.

Emotional intelligence. At its core, emotional intelligence is the ability to make human connections and understand the perspectives of others. This soft skill is essential from the highest levels of the enterprise downward. Empathetic leadership is now a desired trait for senior leaders and people managers. However, without possessing emotional intelligence, it will be difficult for those managers to grasp how their actions affect the team dynamic or to sense the feelings of others. It is crucial that employees at every level continually develop their emotional intelligence skill set. How you react to challenging situations or adapt to change speaks volumes about your level of EI. Do not underestimate the consequences of hiring candidates who lack emotional intelligence.

Creativity. Some may consider creativity a soft skill reserved for the marketing department or other content/design-oriented functions. Not so. Creativity refers to assessing a situation or challenge and developing a solution that’s unique or outside the box. Consider procurement and its ability to devise alternative sourcing channels in the face of adversity. Often, those solutions are outside what companies have considered in the past. Automation continues to replace certain job tasks; however, technology lacks the ability to “think” creatively like humans. Thus, creativity is a soft skill that will always trump the “0”s and “1”s of a machine. Seldom does a situation not benefit by asking: Have you thought about doing it another way?

Critical thinking and analysis. Data is all around us. How we gather data and interpret it to make decisions is a valuable soft skill. Procurement and HR receive an abundance of data on workforce output and operational needs. Critical thinking and analysis can lead to the discovery of significant productivity trends the company can then address. The ability to use data to evaluate situations and offer solutions is a soft skill that will always be in demand. You want those people who can find an outlier among a sea of data and propose innovative solutions.

Adaptability and learnability. Technology is evolving quickly and processes are redesigned frequently. The ability to roll with changes and adapt is a vital soft skill. There’s no longer room for the excuse “we’ve always done it this way.” In some cases, companies must reinvent themselves to survive a market or industry transition. Adjusting successfully to change of any magnitude can help put employees on the path to leadership roles.

Learning what needs to be known is also a soft skill imperative. When companies seemingly overnight went remote operationally, it forced those who are uncomfortable with change and learning new skills to make that transition. Going forward, companies should use the pandemic as an example to motivate employees about their ability to adapt and learn.

Assess Candidate Soft Skills

With just a few soft skills described previously, how can companies assess the soft skills of job candidates? In the 2019 LinkedIn report, 57% percent of respondents said their company lacked a formal process for soft skill assessment. While it can be challenging to assess, there are methods to evaluate a job candidate’s soft skills.

First and foremost, companies should identify what soft skills are most pertinent to their workforce. Company surveys and interviews can help HR determine those specific skill sets to then build questions into talent screening and interviewing processes. LinkedIn identified online tools, such as Koru and Pymetrics, that screen candidates for soft skills.

During the interview process, not only ask candidates what soft skills they think will benefit the role but prepare an exercise to put those skills into action. It may be a project that requires working alongside potential team members to gauge collaborative and teamwork effectiveness. Introduce problem-solving challenges that are specific to the role to ascertain candidates’ critical thinking and cognitive flexibility soft skills.

Technical skills and knowledge (hard skills) remain important workforce attributes. However, soft skills enable employees to learn hard skills if they don’t already exist. A workforce with strong soft skills can weather the storms with adaptability, critical and creative thinking, collaboration and coordination, and compassion.

Four-Day Work Week Put to the Test

General Insights HR Talent by John Yuva on 09/22/2022

While remote and hybrid work models are nearly synonymous with the Future of Work, the four-day work week is gaining renewed attention as a characteristic of workplace flexibility. Certainly not a novel concept, the pandemic helped elevate four-day work week discussions as companies sought to bring employees back into the office. Advocates of the four-day work week are encouraging companies to join pilot programs to test the waters and determine its viability.

It is important to differentiate the four-day work week model from a compressed work week. Employees who work a compressed week are still working 40 or more hours over four days. A four-day work week means working 8 hours per day, 32 hours per week with the same pay as a 40-hour week.

However, various studies have shown that a four-day work week can produce higher productivity levels compared to employees working more days with longer hours. A four-day work week can also lead to lower stress levels as well as a happier and more loyal workforce. When employees know that their company values flexibility and work/life balance, there’s a greater commitment toward enterprise goals. It is this insight that led to a drastic change in work hours/days in the early 1900s.

Work Hours and Days Not Etched in Stone

Historically, until the 20th century, the work week spanned six days, averaging 80-to-100 hours per week, with the majority of labor working in factories or heavy manufacturing. In 1926, however, the Ford Motor Company transitioned to five days, 40 hours per week due to productivity insights of its workers. TIME highlighted Henry Ford’s philosophy on this in his company’s Ford News in October, “Just as the eight-hour day opened our way to prosperity in America, so the five-day workweek will open our way to still greater prosperity … It is high time to rid ourselves of the notion that leisure for workmen is either lost time or a class privilege.”

The Fair Labor Standards Act, passed in 1938 and amended in 1940 by Congress, made the 40-hour work week standard. Thus, the notion that the work week cannot be anything less than five days, 40 hours per week is not realistic given our current times. As evidenced by the Future of Work movement, today’s workplace landscape shows yet another tectonic shift in workforce productivity and engagement.

Now, more than ever, with remote work becoming a mainstream workforce model, it is relevant to further explore the four-day work week concept. And that’s exactly what hundreds of companies are undertaking across the world from Europe to North America and beyond.

Largest Four-Day Work Week Pilot Launched in the UK

The largest-ever four-day work week pilot is occurring in the United Kingdom from June to December 2022. Led by 4 Day Week Global in partnership with leading think tank Autonomy, the 4 Day Week UK Campaign, and researchers at Cambridge University, Boston College, and Oxford University, there are more than 70 organizations varying in size and sector participating in the six-month trial, including over 3,300 employees who are being paid one day off weekly during the six-month pilot.

According to Joe O’Connor, 4 Day Week Global CEO, “The organizations in the United Kingdom pilot are contributing real-time data and knowledge that are worth their weight in gold. Essentially, they are laying the foundation for the future of work by putting a four-day week into practice, across every size of business and nearly every sector, and telling us exactly what they are finding as they go,” he says.

“We are learning that for many it is a fairly smooth transition and for some there are some understandable hurdles — especially among those which have comparatively fixed or inflexible practices, systems, or cultures that date back well into the last century,” O’Connor adds.

With the pilot now at its halfway point, all participating organizations were sent a series of questions with multi-choice answers on a scale of 1 to 5. According to 4 Day Week Global, of those that responded (41 out of the 70 companies), here are some insights on the four-day work week at this juncture in the trial:

88% of respondents stated that the four-day week is working “well” for their business at this stage in the trial.
46% of respondents say their business productivity has “maintained around the same level,” while 34% report that it has “improved slightly,” and 15% say it has “improved significantly.”
On how smooth the transition to a four-day week has been (with ‘5’ being “extremely smooth” and ‘1’ being “extremely challenging”), 29% of respondents selected ‘5’, 49% selected ‘4’ and 20% selected ‘3’.
86% of respondents stated that at this juncture in the trial, they would be “extremely likely” and or “likely” to consider retaining the four-day week policy after the trial period.

A Bright Future for Workplace Flexibility

The outlook is encouraging for four-day work week adoption for some of the companies involved in the pilot. The fact that 49% of the company respondents are seeing an improvement in business productivity is something to note as well. The Future of Work Exchange will follow up once the pilot concludes in December.

In the meantime, if your company is interested in a 4 Day Week Global pilot in the United States or Canada, information can be found here.

Ultimately, companies will need to determine how a four-day work week impacts their business and workforce model. Flexibility of any kind within today’s enterprises is critical to talent acquisition and retention. Companies that tested but decided against adopting a four-day work week have still realized the importance of flexibility and implemented other measures from no-meeting Thursdays to seasonal half-day Fridays. Determine what is meaningful from a stress and work/life balance perspective and use that as a starting point for a flexible workplace program.

Direct Sourcing’s Future of Work Impact

Contingent Workforce Direct Sourcing General Insights Podcast Solution Providers Technology and Innovation by Christopher J. Dwyer on 09/12/2022

The Future of Work Exchange podcast features coverage of industry news, software developments, Future of Work happenings, and, most importantly, conversations with industry thought leaders.

Several months ago, I chatted with Sunil Bagai, CEO of Prosperix, for an insightful Future of Work-oriented discussion (click to listen to the full interview). Sunil and I discussed the changes in how businesses engage talent, the continued growth of direct sourcing, and some interesting Future of Work predictions. Today’s article is a recap of our conversation. [Note that this excerpt has been edited for readability.]

Christopher Dwyer: Seeing how our world of work and talent has been changing so much, you’ve had a front-row seat being where you are in workforce management software space. From your perspective, what do you feel are the biggest changes in the way businesses engage talent and get work done, and how the pandemic has shaped those aspects over the past couple of years?

Sunil Bagai: That’s a really good question. Several changes have been happening. Some of them were obviously sped up by the pandemic. For example, businesses are now much more open to hiring remote workers. And when we say remote, it’s kind of like an umbrella where everybody can be under that remote category. But the reality is we need to slice it a bit further. Remote can be onshore where they’re local to that office, so they can at least still come into the office. Remote can be not local to the office, so some other state or anywhere else in the country. Remote can also be offshore where a person can be in the Philippines, Colombia, India, or somewhere else in the world supporting that organization. There are a variety of different ways to slice and dice what remote really means. And that nuance is new. And it’s important going forward.

Another trend that I’ve seen happen in the last few years is much more openness to a variety of different marketplaces. And that means being able to hire talent directly by going onto a portal, for example. So, that trend has taken off. What that does, however, is create a challenge in these organizations. Why? Because enterprises are not equipped to deal with the nuances of being remote or how to integrate hiring marketplaces into their existing hiring processes. So, for example, their ATS and VMS platforms are not fully equipped to integrate with those new ways of hiring. That’s creating some more challenges and friction, which will get ironed out and addressed as the next few years go on.

CD: Direct sourcing has become such a hot strategy. And the more we talk about it on the Future of Work Exchange, the more we’re educating the market on something that seems to be dominating conversations not only around the Future of Work but also talent acquisition and workforce management. I think back to some of my first encounters with the Crowdstaffing platform, and you were one of the pioneers of direct sourcing. What are your thoughts on where direct sourcing is going and where it could be headed?

SB: Let’s start by differentiating what is traditional direct sourcing. What we’re doing with a hiring marketplace is a step towards direct sourcing without having to necessarily, say, get rid of your suppliers. Because direct sourcing today assumes that you’re sourcing every candidate on your own without the use of suppliers. And I believe there’s a middle ground where you can still use suppliers — your incumbents or your initial supplier pool. The network can be a second supplier pool that can give you more access to talent as well as lower costs. And then you have a third option which is the bucket of direct sourcing, where you can engage talent directly using your brand. I believe that all can coexist.

And the aim is to use technology to publish your jobs across all diverse hiring channels. Each of these becomes a hiring channel…and may the best channel win. It shouldn’t matter where the talent comes from, as long as it’s the best talent and the best price (hopefully). From there, it’s about optimization and being able to select based on quality, based on price, and based on speed for your talent fulfillment. If you can do that, then that’s your ideal solution. It’s not one or the other, it’s a mix of all the options available through one common technology platform to help you achieve your talent needs.

CD: What are some of your 2022 Future of Work predictions — not just technology, but the space in general?

SB: For 2022, you’re already starting to see some interesting things happen in the industry. We’ve seen some large acquisitions, and we’ll probably continue to see consolidation where certain companies try to acquire other companies to have a larger presence in the space and diversify their solution portfolio. And there will be more consolidation of customers, as well.

We’re also starting to see MSPs really up their game and add much more value than they were traditionally accustomed to. Before, MSPs were managing programs, and now they’re really trying to differentiate themselves by offering more capabilities within their solutions. New technology will also continue to surface and add a different spin on how the workforce should be managed. That’s what I’m seeing for the remainder of this year.

The Many Extensions of the Future of Work

Business Leadership Direct Sourcing Podcast Talent by Christopher J. Dwyer on 09/07/2022

The Future of Work Exchange podcast features coverage of industry news, software developments, Future of Work happenings, and, most importantly, conversations with industry thought leaders.

The Season Seven premiere of the Future of Work Exchange Podcast, sponsored by Beeline, featured in-depth, Future of Work-oriented discussion with Jen Torney, VP of Client Engagement at Talent Solutions TAPFIN, and Brian Hoffmeyer, SVP of Market Strategies at Beeline (click to listen to the full interview).

Today’s article recaps a piece of the podcast discussion focused on several key Future of Work-focused topics. [Note that this excerpt has been edited for readability.]

Christopher Dwyer: We’re going to close things out with what I call the “Future of Work lighting round.” Let’s start with remote work.

Brian Hoffmeyer: Remote work is here to stay. We’re talking to our clients considerably about it and doing several workshops with them about the best way to handle it from a contingent workforce perspective. Because it’s not as easy as saying, “I want to hire from low-cost areas.” What does that really mean? What are the tax implications of doing that? There’s a different tax rate and a lot of complexity behind the scenes to work out. I’m still seeing companies make pretty arbitrary decisions about remote work, saying you have to come in on Tuesdays and Thursdays — when that doesn’t make sense. Companies need to be very purposeful in making these decisions as they go through the process.

Jen Torney: Yes to all of that. I would say this is so much bigger of a conversation than whether or not you’re going back into the office. We’re encouraging organizations to really look at their true workforce plan and strategy. Because this changes everything. It changes how you can hire, where you can hire, and at what cost. It becomes a much bigger holistic conversation around the opportunity to completely rebuild organizations. There is a lot of hybrid work, but it’s very arbitrary in approach. Now that I’ve been back to traveling at a pre-pandemic level, in-person makes a difference. It really does. But I’m not sure that clocking in at eight and leaving at five to fight traffic and get home is really going to be a part of our culture anymore — except when there’s a requirement. There are several smart ways to get work done, and that eight-to-five model doesn’t need to be the model to do that.

CD: Up next: direct sourcing.

JT: Direct sourcing is smart sourcing. We think direct sourcing is blowing up. It is definitely a new layer of workforce strategy. I don’t think this is going to replace traditional staffing, but it has its place in niche areas within our workforce. I’m certainly excited to see how this proliferates in the organizations that we’re working with. The smart sourcing aspect of layering and upskilling is going to be the future.

BH: Just do it. Just do it. I think too many companies are taking too long and overcomplicating things. Pick an area, pick a geography, pick a skillset, and get the right providers together and start somewhere.

CD: Off to the next one: purposeful work.

BH: I love this. We’re in this position in our industry to help people find meaningful employment and to get them the skills they need to improve their lives. That’s the ultimate purpose that I see in what we’re doing. I want to continue to see companies not treat contractors as less than and make them part of the workforce. Yes, there are rules you have to follow, but include them in D&I initiatives and company events.

JT: One of the things we’ve realized as a global society over the course of the pandemic is that it’s critical to be part of something, to feel that you are contributing value, and to be able to show up as your best self. Purposeful work is so important to the younger generations, especially those coming up into the workforce. So, figuring out ways as employers to build that into your culture so that you’re creating an environment for the future leaders to feel it is the right place for them from an employment experience.

CD: Let’s roll into conscious leadership.

JT: Yes, it kind of dovetails. All this focus on D&I has been so amazing because of the evolution of how we’re approaching these conversations around belonging and inclusion and truly showing up as your whole self. It allows for more creative outputs, better collaboration with your team members, and better energy all around. But again, we are shifting and changing how we approach non-employee labor.

I was just with a client last week talking with its DE&I team. Throughout its history, it was focused on the FTE. But going forward, they’re really trying to move the needle on the entire culture of inclusiveness within their organization. The client has 40% contingent labor, and we’re trying to figure out ways to untangle the risk associated with supporting those goals within their contingent labor population, which is unfortunate that we must think that way. However, I think we are breaking down barriers every day in this industry trying to get to a place where we can truly forward the momentum of DE&I for contingent labor, and truly inclusive and conscious leadership for organizations at that stage.

BH: Jen mentioned letting people be their true selves at work and I think that’s incredibly important. Because that’s going to make them feel included and allow them to bring up ideas that give them the space to fail. As leaders, we must do the same thing — show our own vulnerabilities and give people that space. The blending of work and life is going to continue to happen. And that to me is a good thing. Because you don’t want people to be fake, you want them to be who they truly are. While it seems obvious, the world didn’t use to be that way. The more those separate work and home personalities go away, the better.

CD: Crystal ball for the second half of the year into 2023?

BH: With respect to our industry, you’re going to continue to see an emphasis on the worker themselves and giving the worker good experiences because so many people want to work in this way. You know, permanent employment isn’t really a thing. Even if you take a so-called “permanent job,” your tenure is 18 months on average…or even less now. We’re focused on several things around that to make sure the worker can continue to advance their career in the ways they want to. You’re going to see a lot more of that.

JT: With obvious recession concerns, we’re going to continue to see organizations be more cautious. It’s about hiring and making very intentional decisions to get in front of that. There will probably be a curb in the aggressive hiring that we’ve been seeing over the course of this year. And then absolute radical growth in our travel MSP clients. Travel is returning to pre-pandemic levels and certainly out pacing their expectations. There will be some growth there despite the recessionary concerns.

A recession is an economic trend and part of the cycle. It’s going to happen, it’s just a matter of when. This recessionary period will be a bit more interesting for our business because there will be some contraction but also some expansion in certain categories as well.

Expand Your Enterprise and Workforce in the Metaverse

Technology and Innovation by John Yuva on 08/26/2022

Last week, part one of this two-part series on the metaverse, explored the technologies behind the metaverse curtain and what the possibilities are for the remote and in-office workforce. This week, we’ll examine how companies can leverage the metaverse for greater workforce and operational efficiencies.

The Enterprise in the Metaverse

When it comes to the future of the internet, it is the metaverse that often comes to mind. Integrated technologies working together to form a virtual interactive world. While its current existence offers cutting-edge interactivity, much of the grand potential of the metaverse is yet to come. What lies on the horizon will most certainly influence the future of work and what it means to collaborate and exist as an enterprise.

Currently, enterprises that want to enhance their production processes, for example, can now replicate their facility using digital twin technology. By simulating production lines or other assets, organizations can determine potential failures before they occur and develop mitigation strategies.

Within the metaverse, this same concept can exist but with remote workers’ avatars in a virtual space, viewing a 3D replica of a facility, machine, product, or other asset. The virtual meeting space could be an auditorium or other large venue with global participants representing a cross-section of the product development team and supplier base. It would no longer require expensive travel and accommodate any number of people.

The differentiator between digital twins today and those in the metaverse is the use of technologies like artificial intelligence, machine learning, and Internet of Things to provide photorealistic representations of the asset. Better still is the power of data analytics for real-time feedback to simulate real-world conditions in a virtual setting.

Developing a new product? Simulate a stress test to ensure the expected tolerance levels hold true under real-world conditions using artificial intelligence and machine learning. Working with an architectural firm for a new facility? Not only can you review the blueprints but tour the completed building in its entirety within the metaverse. These are just a couple of examples of how enterprises can leverage the metaverse for operational efficiencies.

Digital Image and the Future of Work

Want to take digital twin technology and apply it to the future of work in the metaverse? Those possibilities are growing. Our appearance can be replicated in virtual worlds — a critical part of our digital identity — in the metaverse. Union Avatars, for example, has a creator tool to construct full-body avatars based on scanned selfies and photographs to transplant into the virtual universe. Thus, it allows an avatar, with our physical representation, to converse with colleagues and customers as we appear in real life.

Taking it a step further, imagine your avatar on its own attending virtual business meetings and taking notes, or completing lower-value tasks, while you focus on strategic projects and execution. Two versions of yourself — physical and digital — accomplishing two different types of work simultaneously. Those possibilities are evolving and could be game-changing for Future of Work strategies.

Born and Operated in the Virtual

For the remote workforce, it can often feel as if the company has no physical existence. The primary use of Slack, Zoom, and Microsoft Teams for communication and collaboration only enhances that sense of the virtual. However, the future is coming where companies are born and operated exclusively in the metaverse, relying on virtual currency for transactions.

Looking for an attractive plot to build your enterprise? A CNET article detailed how millions are being paid for virtual real estate. It is entirely conceivable to build and operate a corporation within a vast virtual economy — populated with avatars working and living their best digital life. Blockchain will be critical to the stability of metaverse financial systems. As the foundational technology for cryptocurrencies and non-fungible tokens (NFTs) to exist, blockchain security is a significant focus.

The possibilities seem endless in the metaverse. There is little doubt that the Future of Work will find its place in this virtual realm. How transformative will the metaverse be for the remote and contingency workforce? Considering the vast amount of data analytics and Industry 4.0 technology involved, entire industries devoted exclusively to the metaverse will emerge. Now is the time to explore what the metaverse could mean for enterprises and their remote workforces. The potential is there for the metaverse to become the next disruptive business force.

The Impact of the Metaverse on the Business Arena

Technology and Innovation by John Yuva on 08/18/2022

The metaverse. It is widely accepted that science fiction novelist Neal Stephenson first coined the term “metaverse” in his 1992 novel Snow Crash, where characters access a 3D world through VR goggles. More recently, Steven Spielberg’s adaptation of Ready Player One provided a visual interpretation of the metaverse (The Oasis) with multiple worlds populated by avatars in every describable form. While we’re still years away from realizing the depictions of the metaverse in novels and film, today’s metaverse provides an exciting glimpse of what’s on the horizon for virtual engagement and the future of work.

Metaverse Defined

What is the metaverse? Simply stated, it is a virtual world(s) where people interact as 3D avatars, gaming, socializing, and working. That immersive experience is made possible by several technologies. Virtual reality and head-mounted displays, coupled with spatial technology and augmented reality bring the immersion to life. Other technologies like blockchain, artificial intelligence, and machine learning act as the brains for the metaverse, enriching the virtual environment through automated transactions, decision-making, and world-building.

The metaverse ecosystem is a vast network of hundreds of companies from a variety of industries all working toward developing specific metaverse attributes — infrastructure, economy, user experience, etc. And there are many metaverse platforms (e.g., Decentraland, The Sandbox, etc.) to put your virtual stake in the ground as no one owns the metaverse (yet).

Transition from Gaming to Business

Much of the metaverse is rooted in gaming. Unsurprisingly, children (and adults) are well-versed with virtual worlds through Minecraft (140 million monthly players), Fortnite (250 million-plus active users), and Roblox (30 million daily players). This bodes well for future generations adapting to the virtual world of work. As consumers take several steps into the virtual realm with products like Meta’s Oculus and HTC’s VIVE, corporations are now moving closer to their own metaverse offerings. McDonald’s, Nike, Amazon, and companies in sectors like healthcare, finance, and hospitality are taking the plunge into the virtual expanse.

The culmination of virtual worlds leads to a vast decentralized multiverse of metaverses. The Meta metaverse, the Microsoft metaverse, the Nike metaverse, and so on. Does the future hold a centralized, singular metaverse where users can interact with other virtual platforms outside their metaverse sandbox? Whether it’s attending a virtual conference, reviewing specifications with a global supplier, or brainstorming at a virtual corporate retreat, the ability to engage other metaverses or link them together could forever alter business and the future of work as we know it.

A Virtual Work Future

The pandemic itself propelled the world’s workforce into remote work, ushering in a new normal where video conferencing replaced in-person interaction and collaboration. Today, as many companies recalibrate, there’s an urge to bring remote workers back into the office. Instead, now is the time to embrace hybrid and remote work as the future that it is. The timing for the metaverse could not have been better. It has the potential to offer not only enhanced remote workforce experiences but entirely new business models. Here are just a few examples of how the metaverse could impact and revolutionize the future of work.

Talent recruitment. Recruiting talent can become a more immersive experience for candidates through virtual and augmented reality. Application submittals could launch a link to a virtual environment that allows virtual interaction with human resources or company recruiters. Using augmented reality, candidates might be asked to complete certain virtual tasks related to the job. Results of those exercises can provide greater insight into viable candidates and narrow the talent pool to gold and silver applicants.
Employee onboarding. Company onboarding can be hit or miss. Some enterprises have a specific onboarding process, complete with presentations and meet and greets. What some companies fail to realize is that onboarding is the first official interaction with a new hire. If that process is disorganized or nonexistent, retention rates could suffer. The metaverse can automate the onboarding experience, bringing to life virtually how the company operates, its mission, and how a new hire’s work is purposeful in achieving enterprise objectives.
New Zealand-based UneeQ, for example, specializes in the development of digital humans who serve as AI-powered customer experience ambassadors. With this technology, a company can create a virtual onboarding experience using digital humans to automate the process of introducing new hires to all that the company has to offer.
Team collaboration. Much of the metaverse is about social interaction. Critics of remote work and the ability to collaborate effectively are missing the bigger picture. Virtual collaborative technologies are now available from dozens of providers (e.g., Gather and NOWHERE) that are innovating the space. Whether it’s creating a virtual workroom or lounge, gathering our digital selves (avatars) together for brainstorming and deep learning can bring a sense of immersive that can’t be replicated in a 2D Zoom session. One could argue that utilizing cutting-edge virtual technology to collaborate may result in even more out-of-the-box thinking.
Training and development. Using virtual and augmented reality, coupled with gamification, training and development can be redefined. Enter a 3D space to learn how to operate a new machine or medical device using haptic gloves to replicate the feeling of a physical object. Or attend a virtual training session followed by activities that test what was learned. All of these examples can be enhanced with gamification elements to build excitement and participation around T&D. Earning virtual badges for completed training modules or high scores on virtual tasks, for example, are ways that companies are flipping the script on learning and development and increasing employee engagement with the process.

The metaverse holds incredible promise for enterprises and the future of work. Part Two on the metaverse will explore how organizations can use virtual reality for product development and operational efficiencies, as well as the emergence of virtual enterprises and economies.

The Business World of 2019 is Extinct

Business Leadership General Insights HR Talent by Christopher J. Dwyer on 08/16/2022

I’m sure many of the Future of Work Exchange’s readers remember the fantastic television series LOST. Sure, it floundered for a bit during the middle seasons, but in the long run, it was one of the most memorable TV shows of the past 20 years.

In the infamous Season Three finale, the directors of the show tossed in a “rattlesnake in the mailbox” twist ending: the famous flashbacks that were routine during every episode were, in fact, during this season finale, flashforwards to moments several members of the cast were off the island and back home. Remember when Jack met Kate in a dark parking lot and screamed, “We have to go back!”?

Well, that’s what it sounds like every time a business leader, writer, pundit, etc. insists that pandemic-era organizational attributes are either going to fade or lose their steam in the months ahead. There was the “very bad take” on remote work from Malcolm Gladwell last week. CNN recently featured a piece from SHRM CEO Johnny C. Taylor, Jr. that featured a take on why remote work will dissipate:

Though seen as a necessity during the pandemic, some business leaders doubt the current level of remote work is sustainable. And they’re right. A fully virtual workplace misses some of the key drivers for performance, productivity and growth, which are top of mind right now for businesses facing the prospect of a potential recession. Understandably, they want workers back in the office because they’re preparing for an ultra-competitive environment, which calls for maximizing efficiency. Fully remote work doesn’t cultivate the level of interpersonal relationships that business leaders see as vital to workplace synergy, collaboration and innovation. It can’t replicate the rich, robust, direct two-way, in-person communication that is critical to complex and creative work.

When companies are responding to market shifts and economic stresses, new ideas, problem solving and brainstorming all become essential. And brainstorming sessions are much easier to conduct in person, where workers can hash out their ideas on collaboration boards in conference rooms or shared workspaces. Remote workers, meanwhile, are more prone to distractions at home that can inhibit their concentration and participation.

Taylor, like many others, speaks from a pro-business perspective. And…that’s okay. It really is. This is a discerning time for the corporate world: still in the throes of a pandemic, inflation still rampant, and the specter of recession lingering overhead. Some businesses have already ignited layoffs in fear of the recession’s impact. Others have tightened budgets and have begun forecasting what their revenue, finances, and expenses will look like in the months to come if a recession truly hits. So, it’s no wonder that many executives point to the coming months as some sort of gateway to the past, particularly those fond days before a once-in-a-lifetime pandemic brought unrivaled havoc to the world at large.

It’s become a common refrain for professionals to say the phrase “getting back to normal” when it comes to the way businesses operate. However, as we’ve learned time and time again, we’re not going back. Never. While many executive leaders have realized that the transformative shifts we’ve experienced are permanent, there are unfortunately many others who have not. One aspect that Taylor, Jr. evokes in his piece for CNN revolves around the concept of flexibility: “The flexibility we embraced during the pandemic should go both ways. Workers will need to bend a bit, especially when the viability of the workplace is in jeopardy.”

The viability of the workplace is not in jeopardy. The workforce itself is in jeopardy. We can all agree that The Great Resignation wasn’t going to last forever, however the millions of quits happening so frequently (even if they slow during these late summer weeks) prove that workers will never go back to a business arena that lacked remote work, better working conditions, and access to the flexibility that has allowed them to balance their work-life integration in such a way that both their personal and professional lives are purposeful.

The great war for talent will still rage on no matter the economic conditions of our business world. In 2019, remote work was a piece of corporate life. In 2022, it’s a permanent and foundational fixture. When we hear someone say “we have to go back!” in regards to dining at restaurants or attending concerts, yes, by all means, it would be great to get to that point as COVID becomes endemic. However, when we hear that same phrase in regards to business life, it’s an unfortunate desire to go back to a world that no longer exists (for many good reasons).

No, we don’t have to go back. We need to keep progressing forward. It’s the Future of Work, after all.

Can We Measure Empathy at Work?

Business Leadership by John Yuva on 08/10/2022

As part of the Future of Work Exchange (FOWX), we host a regular podcast featuring coverage of industry news, software developments, Future of Work happenings, and, most importantly, conversations with industry thought leaders. Recently, our own Christopher J. Dwyer, architect of the Exchange and host of the Future of Work Exchange Podcast, had the tables turned on him: Afterhours, sponsored by Utmost and hosted by Neha Goel, the company’s vice president of marketing, featured Christopher as part of its Contingent Workforce Radio series.

Neha and Christopher discussed a variety of issues related to the state of talent and the future of work (click to listen to the full interview). This is an excerpt from that conversation. (Note that this excerpt has been edited for readability.)

Neha Goel: As we explore the human element in the workplace, let’s talk about another tenant of the Future of Work — empathetic leadership. Is this something you are seeing put into action? And can empathetic leadership be measured in a meaningful way?

Christopher J. Dwyer: Yes and no. I feel like there is an appointed effort. There is a very focused effort for leaders to be more deliberate in leading with empathy and leveraging conscious leadership tactics. But, I do not think many organizations have a handle on how to measure it.

That is where we need to go as business leaders. It is tough to measure something like that, however, because it is so qualitative. How do we know that we are doing the right things as leaders? Or how do we know that we are leading in the right way? How do we know that our employees are having a positive experience and that they feel safe and comfortable? Do they feel that they are part of an inclusive culture?

It circles back to the question of how to measure those things. NPS scores are not going to help. Informal surveys may give you some type of picture. This is the next big leadership challenge going into the second half of the year and into 2023. It can be difficult measuring not just empathy, but how cognizant you are of your leadership and its impact.

It is encouraging to see that more leaders are very conscious of their styles of leadership. But you still see many leaders who are not flexible and still rigid — the Elon Musk-type celebrity CEO who does not care about flexibility or employee feelings, and insists we need you in the office and you need to be part of the team. (Editor’s note: check out yesterday’s article on Malcolm Gladwell’s horrible take on remote work.)

We are so far past that. I have been saying for over two years that there is no way you can put a positive spin on a worldwide pandemic that has killed so many people. It has disrupted life so much. But if you were to take the positives of the fallout from the pandemic, there are many accelerants from the Future of Work angle that came to light.

You have remote work, the reliance on automation and tech, and the desire to be more data-led to gain a better understanding of where we are going as a business and how we are going to survive. But there is the other piece where leaders need to realize that they need to change their leadership style or risk losing workers.

“I am going to lose the talent that exists in my business, and I do not want that to happen.” I do see leaders doing it, but measuring it continues to be a challenge. I do not think many organizations have that figured out yet.

NG: That is fair. It would be fascinating to have you back in a few months and see potential progress.

CJD: Absolutely. I look at some of the most read articles on the Future of Work Exchange since we launched, and one of the top three articles is a piece on why empathy is the only way forward.

A reason it is one of the most popular pieces is that business leaders are interested in trying to hone their style to be more flexible, more empathetic, and more conscious in thinking about their workforce and their staff.

I remember the early days of the pandemic quite clearly. Memories of COVID-19 close contacts and quarantining, 14-day isolations, and kids unable to go to school. Neha, you have young kids, as I do. How disruptive was it to have kids at home for weeks and months at a time? And remote learning was not exactly a conducive way to learn for them (even though it’s a great way to work, haha).

Truly conscious leaders understood how difficult that was for their staff. And they were the ones who were offering flexible options or realizing that, “Hey, this person needs to sit with his or her daughter as she does second grade remotely. Yes, he or she is going to be offline for a couple of hours, but will be back in the afternoon.”

It is leaders who truly step into their workforce’s shoes and acknowledge what everyone is going through and recognizes the need to support them through this. Those are the leaders who are realizing their workforce is happier. They are more engaged. They know that we are here to support them.

I would love to come back in four or five months and say we have a couple of real-life cases we can share of how a business was able to measure its effectiveness. Did our profits go up? Did we have less turnover? I think those could be some of the early metrics to use.