Deloitte Future of Work 2021- Learnings from the COVID 19 Impact
Adjusted Strategy for Future of Remote Work
The publication talks about the seven key learnings relevant to the acceleration of 'Future of Work' in India, during these ongoing times of COVID-19 outbreak. It also describes about what a COVID-adjusted strategy could look like for any organisation which is looking to embrace the 'Future of Work.
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Synopsis of our publication
As the world copes with the uncertainty of the Covid-19 pandemic, India Inc. too, has been working overtime, formulating its response to the crisis. With government regulations evolving in a bid to flatten the curve and economic disruption across industries, traditional ways of working have been usurped. To test our hypotheses, we studied 42 reputed Indian organisations through a combination of survey and 1:1 conversations with CXOs. We identified 7 key learnings from the current crisis, which could potentially accelerate the Future of Work in India:
Some executives highlighted the need to safeguard on roll employees’ interest in the uncertain economic scenario, resulting in reduced dependence on gig workers. However, a few organizations are evaluating the benefits of leveraging alternative workforce models post the immediate crisis.
The move from ‘responding to the crisis’ to ‘thriving in the new normal’ will depend on how successfully organisations take their learnings into the future. A COVID-adjusted Future of Work strategy is presented in the detailed report.
A collaborative effort was required to minimize disruption arising from attachment to physical assets, lack of IT infrastructure and social structure:
Most organisations have their operations roles idle due to work being linked to physical assets. 55% CXOs agreed that their IT infrastructure (availability of hardware, internet and remote access) fell short of facilitating a smooth transition to remote working. Closure of schools, lack of house support and inconvenient housing arrangements remain societal hindrances, being tackled jointly by the organisation and employees. The future will see organization redefining their HR policies.
The key shift has been adoption of, rather than investment in, virtual tools for collaboration:
75% of CXOs said they did not have to invest in new platforms for virtual collaboration, instead, saw a surge in adoption of tech platforms. 60% of CXOs stated collaboration seems to have significantly increased/increased and decision making is more efficient, possibly due to greater structure and adherence in virtual meetings.
Leaders believe that individual employee productivity has in part, increased as a result of remote working:
70% CXOs have reported no impact or increase in individual employee productivity. Disruption to the workplace has placed greater demand on certain roles, like Operations, IT and HR teams had to undertake concerted efforts to facilitate remote working. Roles that require cognitive thinking or independent/project-based work have seen positive impact on productivity as employees manage their time more effectively.
The crisis has pushed employee wellness and engagement to the forefront:
While the crisis has propelled greater focus on the physical wellbeing of employees, over 70% of the organizations surveyed have set up helplines to counsel workforce and their families through the crisis and designed virtual engagement touch points for groups with higher risk of isolation anxiety. CXOs reported a 3X increase in training efforts, as organisations leverage virtual channels to impart future ready skills
Workforce has rallied behind the organisation in their respective roles:
90% CXOs say workforce is putting in more working hours and there has been significantly less absenteeism, during the crisis. 72% CXOs also believe that the role of the team lead is going to be the most important in leading the organisation through the change, and that their managers are stepping up to the task.
Enterprise agility has emerged as a strength for organizations which have been successful in minimizing work disruption:
60% CXOs felt that a breakdown of traditional structural constraints helped them reorganize based on priorities. 85% leaders stated that agility of their workforce to adapt to the new ways of working surprised them the most. Organisations that proactively created empowered teams to facilitate large scale migration to virtual working reported lower disruption.
Organizations are evaluating increasing the share of gig workers as others reduce dependence in favor of full-time workforce:
Some executives highlighted the need to safeguard on roll employees’ interest in the uncertain economic scenario, resulting in reduced dependence on gig workers. However, a few organizations are evaluating the benefits of leveraging alternative workforce models post the immediate crisis.
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The pace at which people, businesses and public policy have changed has been slower than the pace of technology evolution. With the current crisis forcing change, CXOs answered in the affirmative on the acceleration of Future of Work. It has been due to a breakdown of legacy mindsets, digital adoption and new demands being placed on businesses and employees.
The move from ‘responding to the crisis’ to ‘thriving in the new normal’ will depend on how successfully organisations take their learnings into the future. A COVID-adjusted Future of Work strategy is presented in the detailed report.