Software robots to infiltrate the workspace. COVID-19 has been a game-changer for offices and the way we work. 1. On the minus side, there are possibly more distractions and disruptions, and the lack of physical interaction with colleagues could lead to anxiety, grief and even depression. Worldwide remote work measures this year have caused the digital economy to grow more rapidly than ever before and increased the stresses of managing work-life balance. An article by the New York Times on the topic suggests that many firms will resort to a hybrid approach, saying “There could be A teams and B teams working [remotely] different days.” This would then call for companies to introduce proper remote work policies to ensure a strong workplace culture and efficient operations as they work with distributed teams. The remote work wave: An estimated 16 million U.S. knowledge workers started working remotely due to Covid-19 as of March 27; that number is likely much higher now. On the plus side, there is more freedom, more flexible hours and more streamlined morning commutes. The COVID-19 pandemic has ushered in a new wave of U.S. remote work policies for employers who otherwise may not have considered them. Remember the days when you could effortlessly walk over to a colleague and chat about a project? Building a sustainable post-COVID future. What can we expect from remote work going forward? Remote working on a larger scale also offers companies the flexibility to deal with unexpected events in the future, such as the COVID-19 crisis. A study found that 48% of remote workers exhibit more discretionary effort compared with 35% of non-remote workers. Employees will demand the ability to work … Those who’ve been working from home for over a … Learn how remote work may become the "next normal." Join other leaders, and receive our hand-picked publications, Contact our Knowledge Center for additional information on IMD publications, Contact our Media Relations team to republish, Ch. As teams move their meetings to conference calls, their workspace to a project management board and their processes to digital workflows, many are seeing the huge benefit in efficiency, convenience and transparency that comes from bringing work online.Â. However, that future has arrived sooner than anticipated as many countries, companies and workers shifted to remote working in order to contain the transmission of COVID-19, dramatically changing how we work. The COVID-19 pandemic is having a profound impact on the present state of work.The crisis is throwing millions of people across the globe out of employment, sending people with good jobs home to work remotely, and exposing millions of front-line workers providing the necessities of life to a deadly virus. Put bluntly: while many employees thrive in a less structured environment with minimal supervision, others require more frequent “intervention” to keep them focused and engaged. As the COVID-19 pandemic drives profound societal and organizational shifts, leaders have the opportunity to return to work by designing the future of work, building on the lessons and practices their organizations executed during the … As German designer Konstantin Grcic argued “the office is everywhere I go to work.”. Just before the pandemic, an IDC report forecast that software robots’ workforce contributions would increase by 50% over the next two years – a number that may now be too conservative. Managing a remote team usually requires changes in how managers communicate their expectations and instructions, as well as customized approaches for optimizing each employee’s productivity. Humans are inherently social animals who are biologically hard-wired for spending quality time with each other, and who typically don’t fare well during prolonged periods of extreme isolation. For corporate wellness programs to reach the same level of engagement as before the pandemic, providers will need to utilize robust, interactive technology to keep remote employees engaged. On the negative side, some managers are struggling to maintain high performance from workers who are no longer in close proximity. One theory holds that a significant number of companies will go entirely virtual. In fact, a survey conducted by globally research company Gartner with 317 CFOs and business finance leaders found that 74% plan to move their previously on-site workforce to permanently remote positions post-COVID-19. 74% of the CFOs surveyed said that they expect to move previously on-site employees remote post-COVID-19. The sudden switch to remote digital work, overnight and en masse, has the potential to accelerate changes in how work is performed and the way we think about working arrangements. The coronavirus is forcing enterprises to rethink the way they do business and dust off … Let’s explore three common predictions. Remote work preferences and policies have been drastically influenced by the COVID-19 outbreak. Many may resist returning to the 40-plus-hour workweek – with limited paid vacation and sick days – when the crisis passes. As of mid-April, however, 62% of US employees are working from home because of fears about the coronavirus. Outside the US, a big victory occurred in 2018, when Europe’s largest industrial labor union, IG Metall, negotiated the right to work as few as 28 hours per week for German metal workers. Thank you! Flexibility and choice to work from anywhere is accelerating Employees with liberal “work-from-anywhere” arrangements have also been found to be more productive than colleagues who were allowed to work from home but were still required to make regular trips to the office. Despite predictions to the contrary and calls – especially among female employees – for even shorter workweeks and flexible schedules, little has changed in 70 years. In addition to increased remote work, more workers will seek supportive employers with a track record of doing right by employers. Inspiring technologies that can transform your business For individual business executives and teams who are looking to gain a deeper understanding of the latest innovative technologies. Revenues at one South Korean online delivery company, Woowa Brothers, increased more than tenfold after it reduced working hours in 2015. Experience matters for remote work: Productivity and communication take a hit when employees are new to working from home.The good news is that experience helps. A new report from MIT Technology Review, which explored the extent to which different jobs could be supported by AI, found that “between 32 and 50 million US jobs could be increasingly assisted by technology to reduce health risks posted by human interaction and safeguard productivity in time of crisis.” In the longer term, “where AI assistance is currently less feasible […] roles such as cashiers, servers and drivers, whose constituent tasks can be fully automated, may be at risk as retailers and restaurants […] seek to operate with fewer staff.”. It’s been nearly a year since the novel coronavirus began spreading around the world. Sixty percent of businesses surveyed by McKinsey in early April said that their new remote sales models were proving as much (29 percent) or more effective (31 percent) than traditional channels. And some employers may adopt the same attitude. This program is jointly designed by IMD and Swiss federal institute o ... Interestingly, though, and thanks to remote work, employers may be enjoying gains in worker productivity. None of the materials provided on/in this website/publication/document may be used, reproduced or transmitted, in whole or in part, in any form or by any means, electronic or mechanical, including photocopying, recording or the use of any information storage and retrieval system, without permission in writing from IMD. Although it’s just a start-up, the company now competes with corporations like Samsung for engineering talent. How coronavirus COVID-19 is accelerating the future of work. He was asked about the future of the P&C workplace in a post-COVID world. As remote work becomes increasingly necessary across America and around the world during the COVID-19 pandemic, there’s no shortage of advice on h ow to be your “most productive” self while toiling outside the office. But will it last? All rights, including copyright, pertaining to the content of this website/publication/document are owned or controlled for these purposes by IMD, except when expressly stated otherwise. Some of these workers are, no doubt, enjoying the increased freedom that comes with working fewer hours and/or being able to adjust their schedules according to family needs. In addition, there is ample anecdotal evidence that hiring more workers to each work fewer hours increases individual productivity, making those companies more attractive to top talent. Fewer hours and more flexible work schedules. The pre-coronavirus crisis focus on supporting mental health among employees will adapt, establishing new avenues of support as employees are managing large changes in their work and personal lives (health, financial, changed caring arrangements for children and parents) at the same time. On the other side of the coin, there is also a huge amount of employees who don’t prefer to work from home, whether it’s due to the various distractions in their house or their preference to commute to a physical work space. With the digital workspace able to truly replicate all the elements of working together in an office, more companies are likely to stick to this as a long-term solution and method of working together as part of their “new normal”. While the pandemic continues to evolve globally, many are already planning ahead for the other side of this situation: a future where the spread of COVID-19 ceases and life slowly adjusts back. The workplace of the future: The post-Covid-19 wave of remote working By Sampath Sowmyanarayan 08 July 2020 CIOs need to adapt quickly and plan for the new, flexible remote … Box 915 CH-1001 Lausanne, Switzerland, IMD SE Asia Pte. Most employees like the idea of breaking away from the typical 8- to 10-hour day in an office, and it doesn't take a master's in accounting to understand the benefits of removing a large Real Estate line item from t… A recent Gartner poll showed that 48% of employees will likely work remotely at least part of the time after COVID-19 versus 30% before the pandemic. Many people are now used to doing this virtually – and although some of us will be returning to the workplace, it looks like remote working is here to stay in some form or other. Your submission has been received! Readers share their most pressing questions and concerns about the future of work in post-Covid societies. 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