We use big data analysis of online job postings from Burning Glass Technologies, and statistics on job growth/declines from the US Bureau of Labor Statistics through 2026, to demonstrate the power of a data-driven approach to discover reskilling pathways and job transition opportunities. More frequent remote working and online engagement with customers and clients is driving companies to go digital, reducing the need for physical premises. Design the Future. 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”. 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. The 2020 Employer Sentiment Survey surveyed a sample of 121 respondents, over the period of September-October 2020. Companies, policymakers, and individuals all have a role to play. Our report outlines a cost-benefit calculation from the perspectives of both the company and the government. offices in more than 90 cities in over 50 countries. It appears your browser does not support JavaScript or you have it disabled. They are also struggling to find motivation and are unable to draw the line between their work and personal life. In an age of rapidly evolv - ing technologies, business models, demographics, and even workplace attitudes— all shifting concurrently—change is not only constant but also exponential in its Companies will need to reassess constant- 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. Input from business executives, leading human resources and strategy departments, deans of relevant academic departments, and heads of trade unions and industry associations, as well as key policy makers, were analyzed and condensed to produce the insights. 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. 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. Future of Work expert Dan Schawbel and Oracle's Emily He discuss. In doing so, we have uncovered a disparity between what employees want and what employers think they want. In the second wave - from around June to August - employees and employers were focused on how to maintain that productivity boost. Boston Consulting Group (BCG) in collaboration with Indian Pharmaceutical Alliance (IPA) have recently concluded a study on Future of work in the Healthcare Ecosystem. 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 … 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. Boston Consulting Group (BCG) in collaboration with Indian Pharmaceutical Alliance (IPA) have recently concluded a study on Future of work in the … Source link . Many employers remain stuck in the second wave, focused on practical things like working at home spaces and formal contact between employees. 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. We're dedicated to helping our clients do amazing things and unlocking the potential of … 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. Globally, from a similar BCG survey conducted in June, 44% of companies anticipate further headcount reductions, compared with 31% in Australia. 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. In our first year of cooperation with the WEF, we produced two reports. As we discussed earlier, in Australia, 85% of employees want to spend at least one day a week in the office. In the future world of work, skills acquisition will no longer be a process with an ending. The creation of corporate guardrails and team norms as well as regular conversations at a team level will be essential to ensuring that new models work. But only 15% of employees say they want this. The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. Organization, 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. They must now look at improving social interaction and affiliation for their people. In fact, the evidence suggests we’re indispensable. Ongoing (and sometimes increasing) pressure to reduce costs is also forcing some companies to shed headcount, further reducing the need for office space. All of this takes a toll on employees’ mental performance. 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 BCG and IPA believe that the journey towards ‘Future of Work’ is defined through a maturity model across the four elements of digital engagement platforms, new sales call, direct patient connect and commercial org of the future. But the COVID-19 pandemic has exposed Australian workers to new ways of working. Future of Work Disruption lies ahead. The sample covered a variety of large to small businesses, across multiple industries. Careful and tailored internal messaging will be key. Given today’s rapidly changing and digitising world, DigitalBCG was formed to guide Fortune 500 companies, governments, and regional challengers through … Twitter was the first major company to announce a permanent work-from-home policy for employees. The world of work is changing. Our results show that adequate reskilling holds promise: 95% of at-risk workers could find good-quality, higher-wage jobs with good future prospects. Staggering start/end times away from peak hours, allayed many fears and increased the speed of returning to the workplace. 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. The Boston Consulting Group 3 A tidal wave of change is coming that will soon make the way we work almost unrecognizable to today’s business leaders. 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. For example, Twitter provides counselling sessions for all employees, and many businesses provide Employee Assistance Programs (EAPs). PTO has seen a 35% increase in teamwork and collaboration. Driven by accelerating connectivity, new talent models, and cognitive tools, work is changing. Employers must manage for mental health AND mental performance. قالب وردپرس Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact. 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. 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? Boston Consulting Group is an Equal Opportunity Employer. It was also the thing that employees told us they missed most about working at the office. The report’s recommendations were built on more than 60 in-depth interviews with C-level experts across five industries. 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. The authors thank Research Associates Brad DeSanctis and Ria Mazumdar for their support on this report. 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. 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. Mental health challenges are a major factor impacting current employee experiences. Directed by Dr Julian Huppert and based in Jesus College, Cambridge’s new state-of-the-art The second focuses on reskilling, the most impactful action that stakeholders can take to promote a positive future. Clearly employers shouldn’t bow to every whim of every employee, but by re-thinking approaches to working models, improvement initiatives and the role of the office, it should be possible to balance business needs and employee expectations. • The Future of Work presents both opportunities and risks, often in the same dimension (e.g., productivity gain/loss, strength ened/weakened company culture); companies and leaders need to thoughtfully design new models to balance these Only 6% are looking to increase employees compared to around 20% here. James Palano was a Research Associate on the Project on Managing the Future of Work. When compared to global trends, the story is similar, albeit slightly more pessimistic. © Boston Consulting Group 2020. Empathy and an openness to coaching and feedback also rank highly. But many are not, and most could do with some improvement. All of the scenarios we present are possible, yet none are certain. 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. Employers need to ensure there is no division between the ‘haves’ and the ‘have nots’ in terms of flexible working models. Businesses should double-down on activating teams. 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. Employers think, on average, a third of their employees (that can work remotely) will be back in the office five days a week. 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. It’s only just begun, but it’s already clear that employers are behind the eight ball. Clearly there remains a role for the office. The COVID-19 pandemic has thrown multiple challenges - and opportunities - in the path of Australian businesses. 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%. 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. Boston Consulting Group (BCG) is one of the world‘s leading management consulting firms, with . Other big companies have followed suit to some degree: Square now has a permanent work from home policy, while Optus says its call centre staff will work from home permanently. 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%. 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. The Future of Work. 50% of surveyed companies plan to maintain their current headcount. While real estate footprints will undoubtedly decrease, it may not be as much as some people think. We go beyond ideas to design solutions and implement meaningful action. Designing the Future of Work Source: BCG analysis. This must mirror what employees find valuable about being in the office, and design for accidental collisions to aid social interaction. As part of its work to explore the long-term future of the APS, the APS Review Secretariat commissioned BCG to undertake a scenario planning exercise. Future of Work. Limited connection between traditional education and our work: Less than three out of ten people work in fields tied to their major. A BCG GAMMA Data Scientist is expected to be both a world-class management strategist and analytics practitioner. These return-to-work plans raise interesting challenges; employers now need to decide which employees to bring back first. 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. 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. In our previous research, for those employees that can work remotely, 63% highlighted their ideal working model would be a hybrid of remote and office-based work (between one and four days a week). New office designs are incorporating spaces that increase accidental collisions to aid social interaction, with more team rooms for collaboration, and, potentially counter to trends over the last decade, more offices with doors to allow for focused work. This is BCG. Artificial intelligence, automation, and robotics will make this shift as significant as the mechanization in prior generations of agriculture and manufacturing. By Chris Mattey, Rebecca Russell, Nicole Sibilio, and Dan Wong. 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. 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