Companies making significant changes in how work gets done, WTW survey finds
10 May 2023 - 1:40AM
The drive to reshape work at organizations keeps on trucking,
according to a new survey by leading global advisory, broking and
solutions company WTW (NASDAQ: WTW). Furthermore, a relatively
small number of organizations reported they are effectively
managing the various business and people risks associated with the
ever-changing work landscape.
According to WTW’s Dynamics of Work Survey, the number of
companies in the U.S. that automate some of their work is expected
to climb to 74% in three years, up from 65% this year and 51% three
years ago. Additionally, those organizations expect that more than
one-quarter (27%) of their work will be automated in three years,
nearly double (14%) from three years ago. Respondents also said
they expect over half of their employees (55%) will work either
fully remotely or hybrid in three years, compared with 15% before
the pandemic.
“As employers emerge from the pandemic, their need to reimagine
how and where work gets done is at an all-time high,” said Tracey
Malcolm, global leader, Future of Work and Risk, WTW. “This
transformation, including the shift to remote work, has led to an
increase in people, business and operational risks. Unfortunately,
many employers believe they are falling short in the critical
responsibility of managing these risks.”
Indeed, only one-third of respondents (33%) report they have
effectively managed the risks associated with the dynamics of work
— changing work conditions, digitalization and alternative sources
of talent — over the past three years. Employers are currently
taking or planning to take action to address these risks. These
include:
- Digitalization: One
in five U.S. respondents (22%) is expecting and is prepared for
greater use of digitalization and automation. This compares with
one-third of respondents (33%) globally. Among those, 39% are
redesigning jobs or roles to reallocate work between employees,
nonemployees and new technologies; another 19% are planning to do
so this year.
- Working conditions:
Two in five U.S. respondents (40%) are expecting and are prepared
for greater use of changing working conditions. Globally, over four
in 10 respondents (44%) are expecting and prepared. Among those,
37% have conducted employee listening activities to identify
changes in employee preferences or measure the impact of changing
work conditions. Another 36% are redesigning the employee
experience to promote the shift to the new work culture.
- Alternative talent
sources: Over one-fourth of U.S. respondents (28%) are
expecting and are prepared for greater use of alternative talent
sources. Two in 10 respondents globally (21%) are expecting and
prepared. Among those, 39% are redesigning the employee experience
to align with new work and career models; another 15% are planning
to strength external communication about changes to potential
employees this year.
“The dynamics of work will continue to evolve for many years.
Creating a sustainable competitive advantage will require robust
strategies to unlock the potential of these shifts and careful
management of people and operational risks. Effective plans will
start by placing talent at the heart of work changes by
understanding employee preferences and perceptions, aligning work
and total rewards programs, and strengthening risk management
frameworks,” said Amol Mhatre, head of Intellectual Capital,
Research and Innovation, WTW.
About the survey
A total of 720 respondents globally, including 201 from the
United States, participated in the Dynamics of Work Survey. It was
conducted during February and March 2023. Respondents employ 8.5
million workers.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led
solutions in the areas of people, risk and capital. Leveraging the
global view and local expertise of our colleagues serving 140
countries and markets, we help organizations sharpen their
strategy, enhance organizational resilience, motivate their
workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover
opportunities for sustainable success—and provide perspective that
moves you.
Learn more at wtwco.com.
Media contacts
Ed Emerman: +1 609 240 2766
eemerman@eaglepr.com
Ileana Feoli: +1 212 309 5504
ileana.feoli@wtwco.com
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