It's Not About WHERE Your Workforce Works. It's about HOW it Works for Your Enterprise.
MBO Partners
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Perhaps no workforce topic has been more in the news of late than remote work, or, shall we say, a conversation about where employees will work, be it in an office, hybrid, or fully remote.
This week, Airbnb made headlines with its decision to grant employees the freedom to work from anywhere, including to live as digital nomads, with a catch: in-person collaboration will be done as a series of "meaningful in-person gatherings." In order to achieve this shift, the company has made several simple articulations, including a standard time zone for US workers (PST), a dedicated statement on compensation (it won't change if you move) and a refinement of product releases (two per year, each May and November) so that the team can move in a more structured way towards progress.
The planning is commendable; Airbnb has found a way to make remote work "work" for their company without discounting the value of in-person collaboration or marginalizing those who choose to relocate from major urban centers.
We know a thoughtful approach is needed -- new research from Kastle says only 40% of offices are occupied (up 15% from 2021) and the latest from ADP suggests that on average, 64% of employees would consider quitting if returning to the office is required, a number that is even greater (71%) amongst Gen Z. Even diehard banks such as JP Morgan are reconsidering the number of days required in the office.
Workforce optimization is, at its heart, this very exercise, as leaders must strategically evaluate not just where one's workforce is located and working, but how they choose to engage. Beyond this, companies must consider critical paths to future planning, which include but are not limited to programs for re-skilling and ongoing learning, total talent management, and technological and cultural enhancements to promote agility, cost efficiencies, enhanced productivity, and more.
The question remains, how are leaders preparing? We'd posit that those who are merely considering this as a question of physical location are already behind. This is an issue that illustrates many of the challenges we face in The Great Realization, namely, what must my workforce do TODAY to attract, engage, and retain great talent TOMORROW.
One thing is for certain. Today's top leaders will tackle these problems in totality, rather than in silos, and those that succeed will look not just at the surface issue of physical location, but at the core issue, of how their company collaborates, communicates, and creates value, now and in the years to come.
Other Trending Topics:
● Join CEO Miles Everson, Deloitte Chief People Officer Jonathan Dunne, and Mavenlink + Kimble Executive Chairman Ray Grainger Thursday, May 5, for a panel discussion exploring how firms can examine and optimize resources and processes in order to maximize their most valuable resource — People. Register for Unleashing the Power of Your Workforce today.
● A new story from MIT Sloan discusses how a new social contract can guide organizations to develop an inclusive working model for shareholders, employees, and global communities. Given the different challenges of automation, globalization, and a persistent productivity-wage gap, MIT Sloan Professor of Management, Thomas Kochan, lays out a four-pronged roadmap to guide business leaders in creating a new social contract model for the future of work.
● This WRAL Techwire Future of Work series article predicts that the future of work will be collaborative, connected, and highly-amenitized. Organizations should expect hybrid working arrangements to remain as companies make significant technological upgrades.
More News of Note:
● A Biznews article explores how the Great Resignation accelerated the generation of digital nomads.
● Forbes probes the five strategies which allow Salesforce and Slack to attract top industry talent and set the standards for workplace flexibility.
● A Harvard Business Review Working Knowledge article emphasized the importance of an incentive structure to allow content providers to reap the rewards for their effort in boosting the quantity or novelty they create.
Of course, we’d love to talk virtually as well. Share your thoughts with us at MBO Partners on Twitter, Facebook, Instagram, and LinkedIn, and we’ll see you again next week!