Taking Steps to Make Work?Work

The pandemic shook up the way we think about getting work done. And the state of the workplace continues to evolve.??

To better understand the challenges organizations face and their ongoing efforts to adapt, BCG surveyed executives worldwide about their views on the future of work. The 121 respondents represent companies with an aggregate of more than 7 million employees, extending across five continents and nine industries.?

Here are some of our most significant findings:??

• Employers are not as prepared as they’d like to be in developing generative leaders—those that can create an environment in which employees can do their best work.??
• Employers are failing to incorporate?upskilling and reskilling?into employees’ everyday tasks—and therefore are missing opportunities to provide continuous learning.?
• Leaders consider attracting and retaining talent even more important than improving productivity, keeping up with competitors, and increasing cost effectiveness. And it’s the greatest people challenge facing employers with a predominantly frontline workforce.??
• Companies with mostly office-based workers tend to lag behind those with predominantly frontline employees in creating a purpose-driven culture.
• Encouraging employees to return to the office is the biggest challenge for organizations with mostly office-based workers.??
• Some CEOs are taking the reins on initiatives related to future work models—suggesting that?talent management?and the effectiveness of work models have become integral to organizations’ broader strategic plans.?

Figuring out how to attract and retain talent is higher on executives’ agendas right now than improving productivity, keeping up with competitors, and increasing cost effectiveness.?

Breaking Down Obstacles to Progress?

With traditional ways of working already disrupted—and given the speed with which?generative AI? is upending the day-to-day reality of work—leaders must take action to make work function more effectively for their organization and their people. Here are five steps companies can take to put the right work initiatives in place and address the current obstacles to progress.?

Invest in real behavioral change.?When companies need to change how people work, they may issue a memo or share the news of an updated policy. That’s not enough. Behavioral change requires significant investment—funding communications to articulate the changes, for example, and embedding new behaviors into upgraded operating models, people processes, and tools. It also means bringing continuous learning into people’s daily work and offering?leadership coaching.?

Rethink your talent value proposition.?Many organizations are already trying to address hiring and retention issues by offering more flexibility than they did in the past. They need to take that a step further by approaching their employees as they would their customers: digging into what people want and need and crafting employee value propositions that satisfy both.?

Approach your employees as you would your customers. Dig into what they want and need and craft employee value propositions that satisfy both.?

Start supporting distributed teams.?One executive in our survey put it this way: “We do not motivate colleagues to come back to the office. We encourage teams to identify the way to collaborate that best fits their team.” This could mean better understanding how to help a distributed workforce collaborate more effectively; to that end, one goal should be to develop leaders who find the best methods of coaching, challenging, and supporting their teams in daily interactions.??

Improve the experience of frontline workers.?Eight of the top ten factors that cause frontline workers to quit their jobs involve emotional needs rather than functional ones. With these workers making up an estimated 70% to 80% of the global workforce—and shortages still rampant—organizations should consider how to increase employee satisfaction. One smart move: increase shift-schedule options and let employees choose the schedule that works best for them.??

Lead from the front. All too often, CEOs leave the big people-related topics to their chief HR officers to resolve, without offering much participation or support. But our survey makes clear that those in the top spot should take an active role—investing and engaging in the effort to build a better workplace and setting up their organizations for the future.?

More of our latest thinking on the future of work:?

The Future of Work Revolves Around Talent ?

The So What from BCG: Can Joy and Productivity Coexist in the Workplace? ?

Stop Monitoring Badge Swipes and Start Trusting People ?

Why the World Needs Generative Leaders

The Employer’s Report Card on the Future of Work ?

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