The relationship between formal and informal teams is gaining immense importance in the rapidly changing work landscape. A recent study by WorkTech, underwritten by Thomas, highlights the pivotal role of individuals and teams in shaping the future of work. This study delves into the critical need for empowered teams and optimized interactions to drive productivity, engagement, and overall success in modern workplaces. The study, which leverages surveys, interviews, and market research, gathered insights from over a thousand global HR leaders and sheds light on team experiences, skills-based hiring, and investment in WorkTech, offering a holistic view of the evolving work landscape.
Key findings from the study reveal significant gaps between employees and their companies. The “increasing employee-company disconnect.” Traditional engagement approaches are falling short, urging a shift towards real-time feedback mechanisms and fostering inclusive team dynamics. Emphasis is placed on optimizing team interactions and transforming managers into effective coaches to enhance engagement and productivity.
WorkTech’s research and advisory sees staggering ROI calculations for companies that address issues related to the employee – company connection. Our research leverages more than 25 academic and corporate case studies to build ROI baselines and apply them in the field. While doing what’s best for our teams should be where everything starts, implementing any new program
requires an analysis that identifies potential impact in terms of business results.
There is no “one size fits all” ROI calculation when it comes to improving the employee-company connection. Myriad studies show that, done right, it sparks engagement, boosts innovation, improves productivity, and reinforces inclusivity and psychological safety. Business leaders should focus their attention and analytics initially on the areas that will support the overall improvement of employee engagement and experience with an eye on the business results that align with the business’ strategic objectives.
The workplace faces a dual challenge and opportunity with declining productivity and the rapid irrelevance of skills. Organizations are prompted to address cultural issues, redefine managerial roles, and invest in empowering their workforce to navigate this evolving landscape effectively.
Recognizing individual strengths and fostering a culture of inclusivity within teams emerges as a critical factor. Leveraging diverse perspectives and skill sets among team members is pivotal for innovation and problem-solving. Personalized insights and data-driven interventions, especially in distributed teams, hold significant potential for enhancing productivity and aligning employees with company goals.
Enter Work Tech, a transformative shift in the technology landscape. Work Tech has emerged as a new category from the foundation of traditional enterprise technology categories, most notably HR technology. Not replacing HR tech but taking it into the flow of work with new employee-first design principles that drive inclusion and promise agility in anticipation of the next unknown challenge to confront the workplace. By integrating people science and human-centered management with Work Tech’s core themes, including diversity, equity, inclusion, and belonging, employers can offer a platform that meets users in the flow of work, enhancing productivity and engagement seamlessly.
The study predicts a continued focus on team interactions and a growing reliance on WorkTech to bridge the gap between employees and their companies. New market leaders are expected to emerge as organizations increasingly value people data and its alignment with business objectives.
In conclusion, the study foresees a transformative journey where optimized team interactions are central. As organizations pivot towards empowering individuals and fostering collaborative environments, the future of work promises unprecedented innovation, productivity, and employee engagement.
Please visit the report underwriter to download the free report.