Reimagining The Future Of Work

Anshul Srivastava Jul 02, 2021

A never-before-future awaits humankind post covid. Endless possibilities to unleash human potential while working synchronously with technology are knocking on the door. Are you ready to disrupt the business world?

"Time machine to the future”- How far do you agree with this term being given to the pandemic? The quintessence is the current situation’s leap into the future when the covid restraints will be removed to welcome the free world- a place where companies will need to brainstorm for strategizing new tactics, accelerate for increasing productivity and transform for redefining the organization’s value, meaning and purpose.

Coupled with the potential of tools and technology, it will become easier than ever to unlock outcomes that were never witnessed earlier. The key to unlocking these results is shifting the way we look at things at workplace, revamping the way we work.

The pandemic accelerated human dependence on technology, with greater reliance on remote work and AI and 25% inclination of people towards a job switch, bringing in the picture of gig economy. There is an increased potential for a broader recovery when met with elevated human capabilities leading to innovation designed for the future.

While the short-term implications included millions of people being furloughed or sacked, the long-term impact was suffered by the labour market of 8 countries that collectively contribute 62% of GDP and nearly half of the world’s population. To other companies, covid-19 forced to adopt new ways of working to ensure productivity doesn’t get lost.

Thrive to survive- No one had envisioned the situation we are currently trapped in, stressing on the need to work differently to remain afloat. Things are changing fast and your best bet is to quickly adapt to these changes. Here is what we envision the future of work will look like-

1) Gig economy is the new black:

According to a Gartner’s study, 32% of companies are replacing full-time employees with contingent workers as a cost-cutting measure. This shows organizations’ preference for freelancers and part-time workers over permanent employees due to the flexibility, security and ease of work they offer.

As the pandemic robbed many people of their full-time job, they are now opting for a more reliant way of working, given the uncertainties surrounding the possibility of a permanent employment- Bring in the gig culture. With no strings attached, gig economy provides the perfect cushion employees would want to fall back on if organizations compel workers to return to on-site roles.

2) Choosing capability over track record:

Pandemic gave no notice of its emergence, forcing workers to adapt to the transforming business environment. This gave chance to smart employees to make the most of it and showcase their talent. 2020 taught organizations to choose the resilience and potential of a person without judging them on the work they had previously done.

It is the time to look beyond re-skilling and investing in capabilities for the uncertain times that lie ahead.

3) Remote work is not going anywhere:

Flexible working models weren’t new to the workforce pre-covid, though it was considered as an option more than a compulsion. Pandemic's entry into the world changed this too as working from home is widely regarded as the “new normal” now. With things changing rapidly, companies are quickly adapting this new arrangement of working remotely with all employee benefits, including the commute compensation, staying intact.

As per Capterra’s survey, 83% people reported increased productivity after they adopted the WFH regime, giving no reason for organizations to ask workers to return to the office (unless they lack a proper performance management system to monitor employees’ work). Remote working aka “work fluidity” has definitely blurred the line between personal and professional life, giving more advantages for employees to enjoy.

4) Heightened dependence on technology and AI:

With things going WFH, there is an increased need to exploit technology. According to McKinsey’s research, “work arenas with high levels of human interaction are likely to see the greatest acceleration in adoption of automation and AI.” This puts the spotlight on the growth potential of companies with the use of automation and technology.

As per a survey, e-commerce businesses grew 2 to 5 times more than pre-covid times. People are moving towards technology. And you do not want to lose out on the opportunity it presents. Automation services have enabled organizations to put to sleep their concerns over performance management, attendance and leave management as HRMS providers are automating the processes. Take Keka HR for example. Their software is allowing HR professionals to focus on the core assets of their company- employees- by leaving mundane and cumbersome tasks for technology to fulfill, offering all this time to be spent on helping employees increase the company’s productivity scale.

Organizations are left with the responsibility of blending workforce and technology into the right dynamics for fast-forwarding into the future. To enter the next chapter of work, they have the option of either renewing yesterday for an enhanced version of it or reshaping yesterday for a sustainable and reliant tomorrow. The time to change is here. Act now.

The author is Anshul Srivastava, Head- Product, KEKA