Post-Covid world of work: How smart organisations future-proof themselves
Post-Covid world of work: It was not so long back. I was speaking at a forum on Future of Work in 2017. I spoke about future that seemed distant at that time. It looked like we had plenty of time to prepare for the challenges thrown up by the fourth Industrial Revolution. When Covid-19 broke out, only 54% of the organisations across the world was ready to work from home, according to a study by Gartner.
No one would have imagined the changes brought about by the pandemic. Around 80% of employees in the services sector are working from home, 70% are missing social interaction, collaboration and relationships. A large majority (87%) of employees are not ready to give up offices, and organisations are looking at hybrid workplaces. They have to decide on the basis of technological upgradation and productivity challenges.
According to Deloitte’s Global Human Capital Trends report, 81% respondents expect use of Artificial Intelligence, but only 26% feel the organisations are ready. New policies and people practices need to be built to suit the new way of working. Attracting, reskilling, upskilling talent is crucial for organizations to survive and thrive in the highly digitalised world.
Today, long hours of work have become the norm and employees are reporting burnout. Work and the life seem to be completely integrated and there is no demarcation between the two. Remote working has reduced the belongingness factor amongst employees, making retention of talent a key concern. The world of work has changed beyond recognition in the last two years.
The year of reimagination
The disruption caused by the Covid-19 pandemic taught us several lessons. The way organisations were run underwent drastic changes and here are some of them.
Start-up mindset: Agility is the need of the hour. The crucial questions are — how can you serve your customers well and what processes need to change to satisfy them.
People at the core: Companies will need to think how their people work best and perform at their optimum level. Around 60% of businesses surveyed by McKinsey in early April said their new remote sales models were as much or more effective than traditional channels. I coach senior level corporate executives and I have seen people and organisations try their best to adapt to the new environment and the new way of working.
Accelerating digital adoption: The best companies are taking the opportunity to enhance their digital quotient. They’re successfully using advanced analytics along with their insights to make better and faster decisions for the organisation and for customers.
New customer journeys: Companies need to understand what customers value in the post-Covid world, and must develop new tailored experiences based on those insights.
Act with urgency and agility: During the current crisis, many organisations have acted with a sense of urgency about work from home and reinvented themselves to serve the customer better.
We have no choice but learn to thrive in chaos. What does all this mean for leaders and organisations? Be adaptive, agile, adopt lifelong learning, regulate emotions, build technology & digital understanding, ensure the well-being of yourself and the team.
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