Companies making significant changes in how work gets done, WTW survey finds
Only one-third of U.S. employers effectively managed people, business and operational risks during pandemic
ARLINGTON, Va., May 09, 2023 (GLOBE NEWSWIRE) -- The drive to reshape work at organizations keeps on trucking, according to a new survey by leading global advisory, broking and solutions company WTW (NASDAQ: WTW). Furthermore, a relatively small number of organizations reported they are effectively managing the various business and people risks associated with the ever-changing work landscape.
According to WTW’s Dynamics of Work Survey, the number of companies in the U.S. that automate some of their work is expected to climb to
“As employers emerge from the pandemic, their need to reimagine how and where work gets done is at an all-time high,” said Tracey Malcolm, global leader, Future of Work and Risk, WTW. “This transformation, including the shift to remote work, has led to an increase in people, business and operational risks. Unfortunately, many employers believe they are falling short in the critical responsibility of managing these risks.”
Indeed, only one-third of respondents (
- Digitalization: One in five U.S. respondents (
22% ) is expecting and is prepared for greater use of digitalization and automation. This compares with one-third of respondents (33% ) globally. Among those,39% are redesigning jobs or roles to reallocate work between employees, nonemployees and new technologies; another19% are planning to do so this year. - Working conditions: Two in five U.S. respondents (
40% ) are expecting and are prepared for greater use of changing working conditions. Globally, over four in 10 respondents (44% ) are expecting and prepared. Among those,37% have conducted employee listening activities to identify changes in employee preferences or measure the impact of changing work conditions. Another36% are redesigning the employee experience to promote the shift to the new work culture. - Alternative talent sources: Over one-fourth of U.S. respondents (
28% ) are expecting and are prepared for greater use of alternative talent sources. Two in 10 respondents globally (21% ) are expecting and prepared. Among those,39% are redesigning the employee experience to align with new work and career models; another15% are planning to strength external communication about changes to potential employees this year.
“The dynamics of work will continue to evolve for many years. Creating a sustainable competitive advantage will require robust strategies to unlock the potential of these shifts and careful management of people and operational risks. Effective plans will start by placing talent at the heart of work changes by understanding employee preferences and perceptions, aligning work and total rewards programs, and strengthening risk management frameworks,” said Amol Mhatre, head of Intellectual Capital, Research and Innovation, WTW.
About the survey
A total of 720 respondents globally, including 201 from the United States, participated in the Dynamics of Work Survey. It was conducted during February and March 2023. Respondents employ 8.5 million workers.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
Learn more at wtwco.com.
