Trends that Will Shape Work in 2021 and Beyond
Our pandemic year has reshaped many businesses. This includes how to handle COVID for both employees and customers, shifting to more remote work, and determining how best to support employee’s physical and mental well-being.
As we look ahead, here are some additional forces that will shape business.
Employers will shift from managing the employee experience to managing the life experience of their employees. This pandemic has given employers more awareness into the personal lives of their employees. It’s become clear that supporting employees in their personal lives helps them be more effective with their work.
For some leaders who previously did not support work at home, they now realize that people can work effectively remotely. Remote work can support better work/life balance and can allow people to perform at a higher level.
A Gartner 2020 Employee Survey, reports that employers who support employees with their life experience see a 23% increase in the number of employees reporting better mental health and a 17% increase in the number reporting better physical health.
One way to support life experience is helping employees improve their financial wellness and ability to weather hard times. Examples include:
helping workers prepare for the unexpected by offering a loan of up to $1000, which is repaid with $50 debits from paychecks.
offering a money incentive for employees who complete a financial education program.
promoting retirement plan best practices and educating people about when to apply for social security.
2. With work and office becoming more disconnected, there will be an increasing risk of detachment. Keeping employees engaged while they are working remote requires a conscious effort. Video meetings help. I’ve talked with many managers who have never held a Zoom meeting with their remote team. Having a team leader they trust and ensuring people feel a part of the team will help promote engagement.
3. The gender wage gap will continue to increase as employees return to the office. Surveys show that men are more likely to return to the office, while women are more likely to continue to work from home. A Gartner survey shows that 64% of managers believe that office workers are higher performers than remote workers. However, data shows the opposite – full time remote workers are 5% more likely to be high performers than those who work full time in an office.
So, if men are more likely to return to the office and managers keep a bias towards in-office workers, we might expect to see managers over rewarding male employees at the expense of female employees.
4. Flexibility will shift from location to time. Working remotely has become commonplace. We expect the next wave of flexibility to be around when employees are expected to work.
5. Employers will “rent” talent to fill skills gaps. Employers are looking for more skills and find they can’t reskill their current work force fast enough to meet the need. Some companies will hire and pay a premium when an actual need occurs. Other companies will expand their use of contingent and contract hiring to “rent” employees for a short period of time.
As we look forward to a return to our new normal, it’s a good time to assess what we want to keep and what we want to leave behind going forward. What trends do you see in the future?
