Constraints Drive
Innovation
A show where we discuss innovative ways organizations and their leaders overcome complex issues at work
Matt Burns is a global industry analyst covering the world of work. His areas of focus include HR strategy, technology and analytics, alongside workplace demographics, trends and practices.
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WORK TRENDS 2023
Friday, Febuary 6, 1998
WHAT DO FUTURE ORGANIZATIONS LOOK LIKE?
We Should Reimagine Them
Though 2022 was more challenging than expected. The Great Resignation, entering its second year, accelerated the trend of voluntary departures. Wage stagnation amid rising costs of living, stalled opportunities for career advancement, hostile work environments, and inflexible remote-work policies collectively driving job dissatisfaction.
To say the past few years have been challenging is a gross understatement. A global pandemic, economic recession and widespread social unrest have disrupted traditional institutions.
At the beginning of 2022, many expected a return to normalcy. The pandemic had entered its third year, and with vaccines rolling out worldwide, organizations and leaders alike felt a renewed sense of optimism.
And the world's employees are feeling even more stressed than they did in 2020 (the previous all-time high) - with forty-four percent (44%) of employees experiencing significant daily stress in the previous day, according to Gallup.
We’re at an inflection point, and the level of volatility will only increase going forward.
Massive shifts in how ‘work’ is done have accelerated digital transformation activities in every organization, regardless of industry, maturity or size. Most organizations have transitioned to hybrid working models. And this seismic shift has placed significant and ongoing stress on employee well-being, challenged the resilience of organizations, their leaders & employees, and placed a greater emphasis on asynchronous work, agile processes and global collaboration.
At the same time, hybrid work will lead to greater inequity and many employees will be greeted with meaningful wage cuts as wage increases fall behind inflation. These realities will be layered on broader technological transformation, continued DEIB journeys, and ongoing macroeconomic disruptions.