The past two years have been transformative for remote work. The ability to work remotely used to be a perk only available to a select few, whereas now it has become the norm for a vast majority of businesses. As Covid rates and restrictions decrease, it is becoming evident that remote work was not only a temporary solution to a crisis. The long-term expectation of knowledge workers worldwide now includes the flexibility to work from anywhere at any time, for at least a portion of the workweek.
Digital transformation is here to stay!
Employee demands and work perception have changed drastically since 2020. Employees have gotten used to the new normal of flexible work environments. Many companies continue a digital transformation to permanently adapt to remote and hybrid work environments.
Work from home over higher compensation
Employees have such a significant preference for work from home that 71% of employees surveyed by Ivanti, as part of their “Everywhere Workplace” report, conveyed they would choose remote work over a job promotion or increase in compensation. Based on the survey results, the elimination of commute time improved work-life balance and decreased spending are the leading reasons cited by employees to justify their preference for remote work - even if that means missing out on a promotion or higher compensation.
Employee turnover rates continue to surge
As knowledge workers demand and expect to work in remote/ hybrid environments with flexible schedules, the repercussions of the new normal have led to increased turnover rates. This can be attributed to two leading factors. The first is the decreased emotional tie to the workplace. The social aspect that came with sharing the same physical space with colleagues, getting lunch together, or brainstorming ideas in the same room for hours has been left in the past. With the elimination of the social pressure to stay, the mental worry of changing social environments has at large been eliminated. This paved the way for more workers to take the leap and change jobs. The second prominent factor is the increased opportunities as geographic limitations are lifted with remote work. Highly skilled individuals can remotely work for any company around the globe, thus they are more inclined to change jobs as the opportunities are not bound by physical proximity to the workplace. The above two factors combined result in a trend of increasingly high turnover rates.
What about employers?
Employee preference for the continuation of remote work is evident but what about employers?
There are a couple of key steps that employers need to take to ensure a smooth sustainable adaptation of the everywhere workplace. At the lack of significant digital transformation, managers have a limited and often times incorrect understanding of employee productivity. In order to assess performance objectively and understand the impact employees have, the adoption of productivity intelligence software is necessary. Productivity intelligence tools not only assess contribution but also incentivize employees to increase productivity by providing actionable insights.
For further information on how you can transform the productivity initiative of your organization, download our white paper at this link.
The expert consultants at MENTORPERFORMA™ take your corporation to the next level of digital transformation with the incorporation of productivity intelligence software.