offices in more than 90 cities in over 50 countries. Employers therefore need to find ways to reassure their staff during this time of uncertainty. 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. The world of work is changing. BOSTON CONSULTING GROUP 3 Create De-averaged Work Models for Employees We don’t believe in returning to the past, when work hap-pened primarily with colleagues who were always located in the same place at the same time. Given today’s rapidly changing and digitising world, DigitalBCG was formed to guide Fortune 500 companies, governments, and regional challengers through … 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. 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. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact. Reskilling and job transitions also present an opportunity to close the wage gap, as 74% of women will receive increased wages, compared to 53% of men. 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. 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. Eight Futures of Work: Scenarios and Their Implications, Towards a Reskilling Revolution: A Future of Jobs for All, Towards a Reskilling Revolution: Industry-Led Action for the Future of Work, Concrete recommendations on how companies can tackle the challenges of upskilling and reskilling to prepare for the Future of Work, A real business case for reskilling impacted workers from a company and government perspective, Digital HR, digital talent, and digital skill development. For these reasons, nearly half (44%) of companies anticipate reducing their real estate footprint within the next 18 months – and half of these by more than 20%. Organization, James Palano was a Research Associate on the Project on Managing the Future of Work. Only 6% are looking to increase employees compared to around 20% here. 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. But as it turns out, there’s a strong and emerging case that the future of work is going to involve humans. All rights reserved. Impulses and scenarios for ecological, economic and social sustainability – using agriculture in Germany as an example. Studies suggest about 15-20% of employees have always struggled with mental health challenges and far more face “mental performance” issues, where productivity is impacted by those feeling “a bit off”. The authors thank Research Associates Brad DeSanctis and Ria Mazumdar for their support on this report. FUTURE OF WORK BUILDING THE NEW COMMERCIAL OPERATING MODEL By Rahul Guha, Abhinav Verma and Natasha Prakash ... model for the future. It appears your browser does not support JavaScript or you have it disabled. Organizational Culture, 14 December 2020  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. Here are the ten key trends that organizations should prepare for. Here, we showcase our latest contributions to that project. When compared to global trends, the story is similar, albeit slightly more pessimistic. It was a novelty that saw a jump in productivity and engagement. In May 2018, the BCG Henderson Institute surveyed 11,000 workers in 11 countries: Brazil, China, France, Germany, India, Indonesia, Japan, Spain, Sweden, the United Kingdom, and the United States. Clearly there remains a role for the office. However, only 53% of companies considered “Employee willingness” in their top three most important criteria. This report lays out eight scenarios for what the future of work might look like by the year 2030. In the first wave - between about March and May – many employees were impacted dramatically but many others were excited; COVID-19 had forced a new, more flexible working reality. 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. They are also struggling to find motivation and are unable to draw the line between their work and personal life. Boston Consulting Group is an Equal Opportunity Employer. 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? PTO has seen a 35% increase in teamwork and collaboration. In addition, BCG interviewed senior Executives from over 40 of Australia’s largest organisations. Many job-seekers today are only considering roles with flexible/remote options; organisations that fail to provide these will dramatically reduce their access to talent pools. The 2020 Employer Sentiment Survey surveyed a sample of 121 respondents, over the period of September-October 2020. 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. 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. All of this takes a toll on employees’ mental performance. The future of work is not predetermined. 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. of agriculture. Future of Work Disruption lies ahead. Businesses should double-down on activating teams. By Chris Mattey, Rebecca Russell, Nicole Sibilio, and Dan Wong. Changing consumer sentiment and spending habits have created a ‘boom or bust’ reality for many businesses and left others in a holding pattern from which they are only now starting to emerge. The second focuses on reskilling, the most impactful action that stakeholders can take to promote a positive future. As we discussed earlier, in Australia, 85% of employees want to spend at least one day a week in the office. The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. © Boston Consulting Group 2020. Australian businesses have tackled some of the most pressing challenges around digital tooling and the shift to remote working. Many employers have made important strides in the right direction - strides that benefit their employees and address their primary concerns - or are in the process of doing so. In doing so, we have uncovered a disparity between what employees want and what employers think they want. Boston Consulting Group is an Equal Opportunity Employer. Physical office spaces will continue to play an important role in bringing people together, and as a place for some to be productive. More frequent remote working and online engagement with customers and clients is driving companies to go digital, reducing the need for physical premises. It was also the thing that employees told us they missed most about working at the office. When they send members of their teams into the field to work with our clients, it can be challenging to assess performance and competencies. Boston Consulting Group (BCG) in collaboration with Indian Pharmaceutical Alliance (IPA) have recently concluded a study on Future of work in the … Source link . 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. In the future world of work, skills acquisition will no longer be a process with an ending. But how real are these reductions, and will organisations be able to realise the anticipated savings? Amongst senior leaders, there is a concern about ‘cultural decay’ in their organisations and about a decline in employee engagement. 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