With great resignation comes great transformation: An opportunity to re-imagine the future of work
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With great resignation comes great transformation: An opportunity to re-imagine the future of work

“Work is not about where you go. It’s about what you do.” That was one of the opening remarks made at the recent AT&T Business Summit by Anne Chow, CEO of AT&T Business.?

We have seen a record level of job turnovers across different industries. During this so-called period of great resignation, the Bureau of Labor Statistics confirmed more than 19 million US workers have quit their jobs since April 2021, causing great disruption across sectors. And according to McKinsey , “recent surveys found that 40 percent of workers globally are considering leaving their current employers by the end of the year.”

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Source: McKinsey & Company

As a result, employers are reacting the way they know how — offering perks and financial incentives — as an attempt to keep the turnover rates at a minimum.

It remains to be seen whether this trend will continue. But it does make us wonder out loud: If you were to think about what the future of work will look like, what comes to mind? What are the essential elements that we will be looking for, especially given the unpredictability and the extended social isolation that many of us have experienced??

The future of work is connected?

As Anne Chow said at the recent AT&T Business Summit: “We might be physically distant, but we can always stay connected.”?

Indeed. Digital connectivity is no longer a nice-to-have, but a must-have. As we have witnessed in the past 2 years, from digital banking and virtual learning, the Internet has bridged the distance between communities, allowing us to continue our work and studies while staying socially isolated at home.?

And this trend will likely continue for many organizations who are able to transform and adapt to a hybrid working world, enabling them to reap the benefits of a distributed workforce and tap into talent pools in different geographical locations.??

But such changes aren’t without challenges; after all, culture takes time to establish and it is hard to change. An unequal future of work can emerge if we are not intentional about making it fairer for all. And we can just as easily slip back into the old culture of presenteeism bonus, or one that favors one demographic versus the other due to outdated unconscious bias.???

The future of work is supportive?

As businesses continue to evolve their work policy, we must pay closer attention to the trends that are emerging around us. While it is tempting to be alarmed by the record 3% of the American workforce who left their jobs in September, it might also be worthwhile to examine what motivated the rest to stay. Do they enjoy their work or are they staying put due to a lack of viable options? Are there opportunities for continuous learning so that employees can stay up-to-date or even explore new opportunities within the company? Are remote workers granted the same opportunities to advance their careers as those who are able to work in the office? Is there a supportive work culture that allows flexible work schedules and time off to support employee caregiving needs and other personal obligations??

To get ahead of the attrition and to truly transform, we must create an environment that celebrates human ingenuity and creativity, regardless of where they are — a culture that is truly inclusive, where all voices are heard equally; a place that encourages employees to bring their whole selves to work, where their opinion and contributions are valued. To be truly future proof, we must seek to take care of not only the office staff, but the essential workers of the society.??

If not now, then when??

The digital divide is a solvable challenge if we are willing. What separates us is not technical, but one of mindset.?

The future of work is inclusive if we are intentional. It is not something that just happens, but something that we create — collectively — together. And we have an opportunity to write a more fulfilling story for tomorrow.?

Through our shared purpose, we can thrive as one.?


This post was sponsored by AT&T Business , but the opinions are my own and don’t necessarily represent AT&T Business’s positions or strategies.

Del M.

Strategy & Transformation Leader | Fintech \ Wealthtech \ Regtech | Financial Services | Banking As A Service | Generative AI | Digital Transformation & Innovation | Portfolio & Program Leadership | Product Development

2 年

Awesome article. This content aligns with last week's FinTech Summit's dicussions. Thank you for sharing.

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Joseph Segal

Helping you create passive income to leave the 9-5 grind - Loving My Side Hustle, Author

2 年

"we must create an environment that celebrates human ingenuity and creativity, regardless of where they are — a culture that is truly inclusive, where all voices are heard equally" I love this, Theo! Thank you! I think it's hard to be inclusive and hear every voice when we have corporate hierarchical structures with a CEO sitting at the top like royalty and board members sitting with power like the Lords & Ladies of the court and workers doing what they're told like the peasants or serfs. What we have and have had for quite some time is neofeudalism and feudalism was never inclusive. ESOPS or employee-owned formations like credit unions, electric, food, farm, and housing coops work to flatten out the hierarchy of corporations and empower worker-owners to share more responsibilities, risks, and rewards. If we value democracy over autocracy and I think we should, then we should work to move away from the neo-feudal systems we have now and towards horizontal business structures. Thanks for the great piece of writing.

Frank Feather

??Future-Proof Strategies: QAIMETA (Quantum + AI + Metaverse) ??World-Leading Business Futurist ?Dynamic Keynote Speaker ?Board/CSuite Advisor ??"Glocal" Mindset ?? One Human DEI Family

3 年

Digitization reverses all processes. You do not physically need to go places for most things. For almost all office jobs, you do not go to work, work comes to you, anyplace anytime. Commuting is absurd, costly and inefficient.

Love this quote, Theodora! Thanks for sharing!

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