Future job priorities

Crises mark transcendental changes in the organization model. The crisis derived from COVID-19 marks a completely different future in terms of working life. However, forces like digitization have been disrupting the workforce long before the pandemic.

An OECD investigation (Organization for Economic Cooperation and Development) indicates that 31% of jobs could be radically transformed as a result of automation. At the same time, new specialized jobs are being created. These general trends mean that many organizations are already preparing for a now fast-paced future.

1. Business Strategy

According to a survey of CFOs of US companies, 72% say that responding to COVID-19 with better resilience and agility will be a key factor in improving their company in the long term.

Work flexibility, such as telecommuting or shorter workweeks, can also help improve productivity and work-life balance, further encouraging this change. Companies must avoid ignoring the needs of employees and invest in creating a prosperous work environment.

2. Talent Management

Hiring to achieve workforce goals alone is not enough. Companies should think about three steps when building a strong talent base:

• Optimal hiring
  Assess company values ​​and mission, and monitor diversity and inclusion when hiring. For example, gender diversity initiatives have been shown to be good for the bottom line, improve results and increase profits and productivity.
• talent retention

Currently, 55% of CFOs are not very confident in their company's ability to retain critical talent.
Organizations should avoid hiring staff with a short-term mindset. Instead, focus on building employee skills, with an emphasis on improving digital tools and software.

• be adaptable
  Companies take more advantage of gig economy (sporadic jobs of limited duration), as alternative models increase their acceptance in the market.

3. Learning and Innovation

Despite the threats of automation, six out of ten people still lack basic information and communication skills. On the other hand, both digital and human skills will be in high demand.

To keep up with these trends, improving skills, ranging from digital literacy to critical thinking, will be critical. It requires both individual and organizational commitment to create a culture of learning in people.

Currently, only 45% of CFOs feel confident in their company's ability to develop the skills needed for the future.

4. Employee Experience

These days, people seldom approach their work as a fixed-hour job. They are looking for meaningful work, relationships and experiences: One in three workers would be willing to consider a lower salary for a more satisfying job.

To this end, there is a renewed focus on supporting individual needs and well-being. There are tangible return benefits when you have an engaged workforce:

• 41% reduction in work absenteeism
• 24-59% lower turnover
• 20% improvement in sales
• 17% improvement in productivity

Organizations must build a holistic view of the employee experience. To that end, 49% of CFOs do not feel confident in their company's ability to manage employee wellness and engagement.

5. Work Environment

Flexible working is an essential component of the future of companies and it is here to stay. 72% of CFOs believe that working flexibility will improve their business in the long run.

This brings with it the urgent need to reconfigure the traditional office and bolster remote work capabilities, allowing employees to work from where they want, when they want.

It is clear that the debate on the future of work is not taking place in a bubble; these alternative labor needs are simply accelerating an inevitable transition.

Many companies only focus on two or three of the above priorities, but aligning all five will be crucial for the future of work.