With changing working arrangements and new technological innovations, the future of work is fast arriving.
In a recent post by RegTech firm Dubber, the company provided the top ten things companies need to know about the future of work, as found in its ‘The Future of Work’ study alongside AT&T.
According to Dubber, the study highlighted that while many companies had responded to a shift in working models as needed, this had largely resulted in ‘band-aid’ solutions to enabling hybrid work, with the majority lacking a detailed strategy to support it.
The first thing businesses need to know, according to the report, is that hybrid work will be the default by 2024. Up to 81% of respondents to the study believe that hybrid work will be the foremost working model by 2024, with 56% of work done offsite.
Meanwhile, the oversight of employees challenged and a clear gap between C-suite and operational executives were emphasised as the second and third points. For the former, Dubber detailed that C-level executives ranked employee oversight, losing institutional/tribal knowledge and sustaining culture as the primary challenges. On the latter point, it was found that operational executives ranked onboarding, the lack of a comprehensive strategy and technological debt as more significant than C-level executives.
There was also found to be a tension between what employees want and what organisations prefer – with 86% of respondents stating they believe their employees prefer a hybrid work model while only 64% believe their organisation prefers an on-premise work model.
Further on the topic of hybrid working, it was discovered in the study that hybrid working strategy and policies are critical to talent attraction. A full house of 100% believed that a hybrid work model will help attract young talent, while 97% said they believe a hybrid work model will help attract new talent. In addition, 91% said they believe a hybrid work model will help to improve workforce diversity.
There were also 58% of respondents who said they believe they don’t have the culture to sustain a hybrid work model. Hybrid working was seen as effective in driving productivity by 79%, despite 45% believing it doesn’t support innovation, and 54% thought it impacted collaboration.
The study also found that respondents feel conversational AI will make a difference, with up to 71% believing that AI and ML in conversational help will have an important business impact. It was also discovered that AI and ML in conversational insights is transforming work, having a strong impact on employee productivity, customer intelligence, attracting new talent, retaining talent, revenue leakage and call centre intelligence.
Read the post here.