While these are important, they are not as important to employees as more informal, social interactions which are desperately needed in the third wave. But only 15% of employees say they want this. Transport for NSW is running a 900-person pilot to trial new ways of working, while Volt has permanently implemented a ‘Flex Fridays’ policy, giving employees Friday off as long as they work to ‘maintain the productivity levels of a typical five-day work week’. In this, our latest Employer Sentiment Survey, we asked employers about their predications, plans and aspirations for the coming months. of agriculture. This means there is a clear expectation gap between employee desires and the working models envisaged by their employers. It appears your browser does not support JavaScript or you have it disabled. As robotics, AI, the gig economy and crowds grow, jobs are being reinvented, creating the “augmented workforce.” We must reconsider how jobs are designed and work to adapt and learn for future growth. Boston Consulting Group (BCG) is one of the world‘s leading management consulting firms, with . Yet few businesses have tangible programs in place that truly focus on supporting teams, and importantly leadership, to build these skills to be effective in these new times. قالب وردپرس But employers, as shown in the exhibit below, still think of offices in terms of their traditional function—a place to work, to hold meetings and attend training. Here, we showcase our latest contributions to that project. This statistic is contributing to what some business leaders are calling ‘culture decay’, which results from the increase in remote working and associated decrease in social interaction and affiliation. The common approach, which focuses on identifying types of work that only humans can do, is an unproductive way to plan for the future of work. Future of Work. This is the exact type of work that BCG Platinion takes on - it's a technology project that enables the core business. Impulses and scenarios for ecological, economic and social sustainability – using agriculture in Germany as an example. Our survey found that more than half of employers see ‘on-site criticality’ as the most important criteria in bringing back employees, meaning that for many workers that can work remotely, they will likely continue to do so. Boston Consulting Group X Indian Pharmaceutical Alliance 2 • Build the Next-Gen QC Lab • Reimagine the role of QA • Design the quality organization of the future This article provides BCG’s perspectives on the above 3 pillars and the roadmap to make this happen in your organization, as In fact, the evidence suggests we’re indispensable. To run this survey BCG teamed with Instinct and Reason a global leader in survey deployment and analysis. outlook, the Forum considers issues such as the future of work, how health and social care can be transformed, and what privacy means in a digital age. This must mirror what employees find valuable about being in the office, and design for accidental collisions to aid social interaction. Ideas and inspiration from the BCG Henderson Institute. Ongoing (and sometimes increasing) pressure to reduce costs is also forcing some companies to shed headcount, further reducing the need for office space. Australia’s new working reality brings fresh challenges to team effectiveness; without physical interaction between colleagues, companies need to focus on making teams stronger in both remote and physical settings. The business leaders who are getting it right are developing a range of flexible work models for employees, unlocking productivity by focusing on outcomes and outputs rather than presence and inputs, and creating smarter environments for their people to work and connect. It’s a challenge they must meet in order to stay relevant, to meet their obligations and responsibilities as an employer to look after their people, and to create a source of competitive advantage in the race to attract and retain the best talent. The shift to remote working means people are working longer hours out of fear of losing their jobs. Imagine an organisation that orders all staff to return to the office five days a week - when their staff members look at the ongoing flexibility enjoyed by their peers in other companies, how do you think they will feel? Future of Work Disruption lies ahead. Only 6% are looking to increase employees compared to around 20% here. In the future world of work, skills acquisition will no longer be a process with an ending. The social costs of remote work. The future of work means a lot of things to a lot of people And if you are one of the >75% of employees who feels demotivated and disengaged at work, you might wonder how many more times you will be change processed, made lean, culture changed or black belted into six … In cooperation with the World Economic Forum’s Future of Work project, BCG is developing a blueprint to help companies assess and manage changes and challenges in the future of work. Director, London Institute for Mathematical Sciences. But the COVID-19 pandemic has exposed Australian workers to new ways of working. The division of organisations into those going ‘back to the old ways’ of five days a week in the office, versus those embracing new ways of working will have profound impacts on a company’s success at attracting and retaining talent. The authors thank Research Associates Brad DeSanctis and Ria Mazumdar for their support on this report. Future of Work expert Dan Schawbel and Oracle's Emily He discuss. PTO has seen a 35% increase in teamwork and collaboration. Many companies have already implemented new policies. There is little excuse for companies not to invest in programs that support mental wellbeing: Australia’s National Mental Health Commission, in conjunction with the Mentally Healthy Workplace Alliance, has created a series of evidence-based. In cooperation with the World Economic Forum’s Future of Work project, BCG is developing a blueprint to help companies assess and manage changes and challenges in the future. Leaders therefore have a real opportunity to take advantage of this third wave of workplace change for the benefit not only of their people, but also of their bottom line. All rights reserved. In our first year of cooperation with the WEF, we produced two reports. Read writing about Future Of Work in BCG Henderson Institute. In our second year of cooperation with the WEF, we produced one report with two core elements: There is a clear need for upskilling and reskilling on a large scale. Employers therefore need to find ways to reassure their staff during this time of uncertainty. British bank Barclays will explore moving to a more decentralised working model that might include local bank branches serving as satellite offices, while Fujitsu will halve its office space in Japan and offer greater flexibility to its 80,000 employees. We're dedicated to helping our clients do amazing things and unlocking the potential of … All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, protected veteran status, or any other characteristic protected under federal, state or local law, where applicable, and those with criminal histories will be considered in a manner consistent with applicable state and local laws. Australian businesses have tackled some of the most pressing challenges around digital tooling and the shift to remote working. Companies will need to reassess constantly the capabilities of their workforce while workers will need to regularly upgrade their skills to meet advances in technology, new ways of working and changes in the demands of the labour market. But by comparison, BCG’s own global employer research from June showed nearly three quarters of global firms expect a reduction. This program will help you develop both of those skillsets while you experience a … Globally, from a similar BCG survey conducted in June, 44% of companies anticipate further headcount reductions, compared with 31% in Australia. With more locations, we have more remote supervisors. The Future of Work. The 2020 Employer Sentiment Survey surveyed a sample of 121 respondents, over the period of September-October 2020. The first defines what will likely affect the future of work, and how various scenarios might lead to distinct future states. For example, an internal survey at one organisation revealed that 80% of staff were actually fine with coming into the office, yet only 20% wanted to get on crowded public transport. At BCG we use our Predictability, Teaming and Open Communication (PTO) system, which encourages teams to focus on their progress and their sustainability needs. Only 6% are looking to increase employees compared to around 20% here. Driven by accelerating connectivity, new talent models, and cognitive tools, work is changing. Amongst senior leaders, there is a concern about ‘cultural decay’ in their organisations and about a decline in employee engagement. But, as we explore below, planned rates of headcount reduction are lower than many employees fear—and many businesses are, in fact, planning to increase staff. Physical office spaces will continue to play an important role in bringing people together, and as a place for some to be productive. Careful and tailored internal messaging will be key. Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. The future of work would be born out of the present landscape at work – an amalgamation of the need to change, the desire for speed and the demand for augmented experiences. Companies are clearly rethinking how they approach real estate, floorplans and the traditional role of the office. The report provides a holistic view of key elements required to build the future commercial operating model, post COVID 19. But many are not, and most could do with some improvement. A BCG GAMMA Data Scientist is expected to be both a world-class management strategist and analytics practitioner. BCG was the pioneer in business strategy when it was founded in 1963. Staggering start/end times away from peak hours, allayed many fears and increased the speed of returning to the workplace. 10% of Australian companies see cost pressures as one of the biggest drivers forcing them to rethink how they work, while other drivers include the move to greater automation and shifts in employee productivity. This presents an interesting dynamic as employers divide into those pushing to get their people ‘back to the office’ and those that have embraced remote working, caring more for employee engagement and content with the productivity they have seen during the last 9 months. This is BCG. But as it turns out, there’s a strong and emerging case that the future of work is going to involve humans. Designing the Future of Work Source: BCG analysis. The authors would like to acknowledge the many contributions to the research, writing and production of this report, including Marissa Lynch, Kirsten Lees and Paul Sutherland. All of this takes a toll on employees’ mental performance. As the world moves to a more hybrid working model, there is an opportunity for employers to repurpose office space, and how it functions, to reflect new needs and to create opportunities for interaction and collaboration. Twitter was the first major company to announce a permanent work-from-home policy for employees. In BCG’s recent report, Personalisation for Your People, launched in June this year, we explored the shift in how we work, and looked at Australian employee sentiment. Getting the individuals within a team to agree their own way of working is the unlock that will enable the right trade-offs to be made at a practical level between business outcomes and individual outcomes. Empathy and an openness to coaching and feedback also rank highly. This report lays out eight scenarios for what the future of work might look like by the year 2030. In doing so, we have uncovered a disparity between what employees want and what employers think they want. However, about 20% of companies will only bring back a significant portion when there is sufficient containment and/or a COVID-19 vaccine, while 6% are not planning to return a significant portion of their workforce at all. Companies, policymakers, and individuals all have a role to play. Employers would be wise to pay attention to how employees view the office. Here, we showcase our latest contributions to that project. Limited connection between traditional education and our work: Less than three out of ten people work in fields tied to their major. Many employers remain stuck in the second wave, focused on practical things like working at home spaces and formal contact between employees. The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, protected veteran status, or any other characteristic protected under federal, state or local law, where applicable, and those with criminal histories will be considered in a manner consistent with applicable state and local laws. Our survey shows that employers believe softer attributes, such as collaboration and empathy, will become more important post-COVID-19 than harder skills, such as problem-solving. Our report outlines a cost-benefit calculation from the perspectives of both the company and the government. When they send members of their teams into the field to work with our clients, it can be challenging to assess performance and competencies. Mental health challenges are a major factor impacting current employee experiences. The coming 18 months will see further workforce reductions, although not at such a rate. It revealed seven core findings around how organisations plan to address structural changes to how we work. The model shows that the private sector in the US could reskill 25% of workers expected to be displaced by technology into growing job fields, and the government could reskill 77%, with a positive cost-benefit balance. Businesses should double-down on activating teams. Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. Recently, Karin Kimbrough (Chief Economist at LinkedIn). In our June employee report Personalisation for your people, we demonstrated that a lack of social interaction with colleagues, clients and customers was a huge contributor to negative employee experiences. Nearly 42% of companies plan to have a large bulk of their workforce (>30%) back in the workplace by Christmas 2020, with a further 30% shortly after Christmas. We close the report by discussing specific actions that governments and businesses can take to proactively manage future changes and challenges. In fact, there’s evidence of increased division among Australian workplaces between those that are embracing new, more flexible working models and those that are keen to ‘get back to how things were’. Atlassian, for example, is piloting a system that encourages employees to be transparent with each other and their leaders about their individual needs and set norms for how they want to work as a team. We go beyond ideas to design solutions and implement meaningful action. In addition, as highlighted in our post on the future of consulting, it makes sense for BCG to amp up technology enablement efforts as software continues to become increasingly critical to all aspects of running a business. If one primarily fits human work into the gaps left by what computers cannot do, people will increasingly be squeezed out … Interestingly, employers also believe that 27% of their people will work in fully remote models, although only 21% of employees actually want to work in this way. Harvard Business School’s Project on Managing the Future of Work and BCG’s Henderson Institute, 2018. In cooperation with the World Economic Forum’s Future of Work project, BCG is developing a blueprint to help companies assess and manage changes and challenges in the future. By contrast, we found that employers believe that only 40% of their workforce (that can work remotely) will work in hybrid models in the long-term future. James Palano was a Research Associate on the Project on Managing the Future of Work. The traditional working model for many organisations has been ‘office by default, remote by exception’. We are now in the midst of the third wave of the employee–employer shift in sentiment. Consumer sentiment, however, is only one piece of the complicated patchwork of changes inflicted on Australia’s business landscape; companies are also experiencing drastic change from within. When compared to global trends, the story is similar, albeit slightly more pessimistic. Leaders and workers were forced to consider the possibility that new working arrangements were semi-permanent - or even here to stay. © Boston Consulting Group 2020. The second focuses on reskilling, the most impactful action that stakeholders can take to promote a positive future. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact. Our results show that adequate reskilling holds promise: 95% of at-risk workers could find good-quality, higher-wage jobs with good future prospects. But how real are these reductions, and will organisations be able to realise the anticipated savings? Directed by Dr Julian Huppert and based in Jesus College, Cambridge’s new state-of-the-art And there is some good news: while 30% of companies anticipate they are likely to reduce headcount, 20% of companies are anticipating an increase to their workforce—some by more than 20%. Boston Consulting Group (BCG) in collaboration with Indian Pharmaceutical Alliance (IPA) have recently concluded a study on Future of work in the Healthcare Ecosystem. To meet this challenge and address the expectation gap, there are several recommendations for employers to consider: At BCG, we’ve already explored how savvy business leaders are adapting to our new reality. By Chris Mattey, Rebecca Russell, Nicole Sibilio, and Dan Wong. This has been supplemented by deep-dive conversations with senior Executives from over 40 of Australia’s largest organisations. Companies must think through both what they can offer each employee group independently (e.g., can shift workers have more flex around hours worked), and also how working models are communicated differently to different groups within their organisation. Maria Flynn: The distributed model among knowledge workers brings challenges, something we are experiencing as Jobs for the Future continues to grow and scale. His research interests include discrete dynamics, complex networks and fundamental laws of biology. In addition, BCG interviewed senior Executives from over 40 of Australia’s largest organisations. Employees, on the other hand, face increasing mental health challenges; they are working longer hours and missing social interaction with their colleagues. Employers have a real opportunity to get this new reality right for their businesses and for their people. Employers, meanwhile, were focused on how to ensure the safety of their staff, and how to quickly and effectively move them from the office to the home. The purpose of this work was to identify potential future scenarios; outline the challenges the APS may face in these environments; identify relative gaps in current Learning to Learn, Unlearn and Relearn Our new Employer Sentiment Survey was conducted through September and October, covering a cross-section of over 120 Australian companies, both large and small and across different industries. Boston Consulting Group Allison Bailey is a Managing Director and Senior Partner and the Global Leader of BCG’s People and Organization practice. They must now look at improving social interaction and affiliation for their people. 50% of surveyed companies plan to maintain their current headcount. They are also struggling to find motivation and are unable to draw the line between their work and personal life. Listen to your people and try not to force them back to the office: Listening is key – understanding the pulse of your organisation will help you to modify policies and communications that will benefit everyone. Boston Consulting Group is an Equal Opportunity Employer. The sample covered a variety of large to small businesses, across multiple industries. Most organisations have many workers who need to be onsite for their roles, be they maintaining servers, stacking shelves or driving trucks. But as the role of the office evolves, more space per head may be needed due to new formats and layouts beyond a typical hot-desk; travel costs for affiliation events may rise, satellite offices still need to be funded and commercial leases are long and expensive to break. Employers need to ensure there is no division between the ‘haves’ and the ‘have nots’ in terms of flexible working models. 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