Technology Is Changing Work as We Know It
The average lifespan of a company listed in the S&P 500 has fallen from 60 years in the 1950s to less than 20 years currently, and evidence suggests this trend will accelerate in coming years. We live in a time of intense and continual disruption, and many firms are struggling for survival. The digital economy is all about speed to market, rich user experience, and constant innovation. This requires agile business models that enable rapid adaptation of products and services. But many organizations are not fit for change and uncertainty, and they're failing to deliver their digital transformation strategy.
Intelligent technologies such as artificial intelligence and robotics provide a competitive edge, but IDC research shows that substantial organizational change is required to thrive in the current digital economy.
This is the "secret sauce" for many digital enterprises with successful transformation strategies. They're engaging their people in their journey, bringing their skills up to date with digital requirements, and aligning their organization with their new vision and business goals. Welcome to the Future of Work.
The Future of Work is about rethinking the way work gets done. It is a radical shift in the work model to one that fosters human-machine collaboration (the future workforce), creates new skills and employee experiences (the future work culture), and supports an environment unbounded by time or physical space (the future workspace).
Employer brand and reputation are vital in the Future of Work, enabling organizations to attract and retain the best talent. Driving superior employee experiences is top of the C-level agenda — hence their efforts to create a collaborative and inclusive workplace where employees feel valued, trusted, and part of an agile team.
The Future Workspace: Intelligent, Agile, and Secure
The working environment has received a lot of attention in recent years and is critical for a strong employer branding strategy. From flexible workstyles to a borderless economy that operates 24 x 7, digital enterprises are investing in a future workspace that is intelligent, agile, and secure by design.
The restructuring of commercial real estate (which began before the IFRS legislation) is accelerating this trend, with many organizations cutting down the number of locations across geographies and opening modern "hubs" designed for optimal collaboration and productivity while employees are onsite.
While many technologies are playing a part in the future workspace, we believe the following broad technology categories are the most empowering at present:
In summary, the Future of Work is a business imperative for digital companies. To survive in this rapidly changing world, companies need adaptive, collaborative, and agile ways of working supported by intelligent technologies.
To learn more about the importance of the Future of Work in digital strategies, read IDC’s “Digital platform, the key to futureproofing the workplace for business stability and growth” Whitepaper
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