How Covid is Changing Business
Summary
Big businesses such as Google long ago started changing the way people work. They ditched 9 to 5, allowed employees to take holidays when they want them, work when they want. Google provides free facilities to eat (gourmet food all day), rest, play, meditate, sleep. Also to exercise in a variety of gyms, holiday, commute, get massages and haircuts, whatever. These businesses are interested in performance only, which is better if employees are excited about work and happy.
They encourage staff to take time off to think up new ideas, patent them in their own names, share in the profits, etc., all expenses paid. The pay is generous and has become a magnet for ambitious young people with talent. Studies show these methods work and big businesses that don’t adopt them fall behind. Covid has accelerated change and is the subject of this blog.
It seems obvious that happy employees are more productive and cooperative than stressed, disgruntled ones. They are human.
‘The Great Resignation’
Many employees are resigning from high pressure jobs and employers are finding it difficult to find staff after lockdown. Covid has changed the way employees think about work. Working from home during lockdown gave them newfound freedom from long commutes. More time to work how they want and spend time with their families. They are reluctant to go back to the old ways and executives know this. Many employees were stressed by homeschooling, but once kids go back to school, that stress is removed. Many moved to country areas where the pace of life was slower and more relaxing. Many started working for themselves.
USA Employee Preferences
82% of employees now want to work remotely at least once a week. On average, they prefer to do so half the time. Only 8% do not want to work from home at any time. 19% want to work remotely full time. The balance would prefer to work a hybrid remote schedule.
If they are not allowed to work remotely, 54% of employees say they would stay with their employer but be less willing to work longer. 46% would look for another job.
Only 12% of federal employees want to work from home at least some of the time
35% of employees would change jobs if they could work remotely full time (47% of Millennials and 31% of Boomers). 37% would change jobs to work remotely some of the time (50% of Millennials and 33% of Boomers)
Flexibility is one of the highest ranked benefits by Millennials, even higher than student loans or tuition reimbursement. It ranked high for Boomers too, although 15% to 20% lower.
Technology Uptake in the Workplace
77% of executives say technology uptake is very critical or critical to the success of their organization. Companies adopting new technology are 2.5 times more likely to be the strongest performing businesses in the future.
References
- Horton International
- NPR The Great Resignation
- Business Insider
- Global Workplace Analytics
- Google Working Conditions
- Accenture – Technology Uptake
12 Responses
Thanks! Very interesting. Google sounds like a great place to work! I wondered if the flip-side of ditching 9-5 and working from home was that you were expected to always be available by email or phone, with resulting mental health effects. Has there been any research into this?
cheers,
Duncan
Duncan
Good comment. While probably easier said than done, I think the employees should make their own rules and tell all he or she will not respond to calls or emails outside certain hours. It is a reasonable request.
If unavoidable or urgent, arrange prior for callers to say so via SMS. Some workers enjoy what they do so much, they may want to take calls, but rules should be made and respected. I think employers are beginning to realise the workplace is changing and will probably agree. It certainly needs sorting out.
Very interesting Campbell. I always enjoy your Blog.
XxBetty
Thanks Betty, appreciated.
Yes, working remotely was viewed with a little suspicion by some organisations many years ago. ‘Will workers work’ at home? Now because of necessity many office staff have had to. One problem with working from home is ‘getting away from the office’ because work and home have merged for many. Thanks for the blog Campbell.
Thanks Janine, yes it has also accelerated the uptake of new technology.
Hi Campbell.Thanks for the frightening view of the future. Those videos on the rise of generation AI are too futuristic for easy digestion. Looking forward to discussing some of it later. One question is what to do with all the vacant office space and what is the role of those managers and workers displaced by AI. I think a good stiff single malt is now needed. Cheers < Michael
Michael, thoughtful comments, thanks. I think the future is exciting, not frightening. Sure the unknown is always a concern but to me, the future means a better life, less hardship, more abundance and lower costs. Certainly evident from the past industrial revolutions. They have always been so, but the changes have to be handled with foresight, financial care and retraining for those affected. These considerations were not always provided in the past but hopefully, governments and managers have learnt from past experiences.
Re vacant office space, I suspect office owners will sublet the free space and there will be a reduction of new office construction. For those displaced, see the comments above.
I agree, a stiff single malt might be needed!!
In my University environment, I see that working from home will continue, but many want some real face-to-face contact (other than skype, zoom etc), there are some student courses that require practical sessions which cannot be replicated on-line, and research involving some equipment cannot be carried out at home. So, not surprisingly, the future is bound to be a mixture of home and office- or lab-based work.
Graham
Thanks, Graham
Yes, it will probably evolve as you suggest – a mixture of remote and in house attendance. One aspect is the huge improvement in the development of avatars, so real, it is almost as if they were sitting beside you. I may write a blog on that soon.
Having witnessed my daughter and granddaughter work from home I admired their discipline but concerned as to the lack of personal interaction with others, just the person on the bus , the person you meet for a coffee etc.Life could become too work oriented. John
John, see my next blog on the metaverse. That could help with social interaction.