Insights

Press Release: Businesses aren’t geared up for the future of work, new studies find

By

Actual Experience

Businesses aren’t geared up for the future of work, new studies find

  • Talent attraction, hybrid working and EVP themes dominate the 2023 HR future of work agenda
  • People like their newfound work-life flexibility, but the hybrid digital workplace isn’t ready for the future of work
  • CIOs and CPOs must work together to form a new and vital partnership to solve the challenge
  • Improving employee retention and productivity are the top-level success metrics
  • Employee experience will dictate the outcome

Through a partnership between two HR specialist organisations, LACE Partners and Actual Experience plc, collaborative research reports have found that organisations need to do more to be truly prepared for the future of work. This includes upping the game when it comes to Chief People Officers (CPOs) and Chief Information Officers (CIOs) and their respective functions working together to deliver on the future needs of the workforce and productivity of their businesses.

In July 2022, LACE Partners asked 30 CPOs from a wide variety of industries and company sizes to provide the answer to a simple question on “what their ‘one big thing’ is for the next 12 to 24 months”. Three common themes emerged: talent attraction, flexible / hybrid working and the Employee Value Proposition (EVP).

Cathy Acratopulo, Managing Director and Co-Founder at LACE Partners, said:

“Talent attraction, hybrid working and the EVP are deeply interwoven future of work themes and dominate HR’s 2023 agenda. Employee experience underpins them all and today, critically, this relies on the digital workplace working properly for everyone, everywhere, all the time”.

In October 2022, Actual Experience plc commissioned Savanta ComRes to interview 1006 demographically representative UK adults about their hybrid working experience. The study has found that work-life flexibility is welcomed with 51% wanting to work from home more often (only 8% want less). But the employee experience of the digital workplace is poor. 89% say they experience technology problems, 46% say this is very or fairly stressful, and 53% say this makes them less productive.

Dave Page, Founder & Chief Strategy Officer at Actual Experience plc said:

“People have embraced their new technology-enabled work-life experience, and want more of it, but the digital workplace isn’t yet fit for the Future of Work. Data emerging from customer deployments of our Digital Workplace Management Platform confirm these findings and, without urgent attention, will continue to undermine employee experience and productivity, and the 2023 HR agenda.

“Organisations are now seeking to embrace and institutionalise the Future of Work, and there will be significant sustainable competitive advantage in doing so. Critically, this will rely on a new C-suite partnership between CPOs and CIOs, where a deep and mutual understanding of the interplay of technology and human factors will govern success. This is why we have decided to partner with LACE Partners, whose wealth of cultural and digital HR thought leadership and experience will be critical in the Future of Work transformation in 2023. We are delighted to be working with LACE Partners on an increasing number of client opportunities."

Cathy Acratopulo added:

“There is a once-in-a-generation opportunity to transform the EVP and workplace technology. The CPO and CIO must come together to make this transformation a success, but this has to be a human-centric, data-driven process. CPO's have an opportunity to embrace data and lead their business through systemic, quantifiable improvements in employee retention and productivity. Equally, CIO's have an opportunity to embrace new data and deliver more directly than ever to top-level business objectives. This is why we have decided to partner with Actual, whose insights into the human experience of the digital workplace uniquely bridge the gap between technology, employee experience and productivity, and create a new, actionable common language for the CPO and CIO. We are delighted with the response we have seen from our clients to Actual’s offering.”

Ends

About LACE Partners

LACE Partners is a boutique HR consultancy that supports major employers with HR transformation, technology advisory, change and adoption. It combines the on-demand expertise of top HR change specialists, with the market leaders in progressive HR technologies, providing a flexible, bespoke service to help HR and Exec teams of large organisations to solve strategic people and technology challenges. Its operating model drives innovation, quality and collaboration. UK headquartered, LACE undertakes global projects for organisations of all industry sectors and sizes.

For more information visit www.lacepartners.co.uk.

About Us

Actual Experience is a Human Experience Management company. It works with business leaders and people-centric organisations to continuously analyse the Human Experience of the Digital Workplace. Its Digital Workplace Management Platform quantifies the impact the digital workplace has on employees and the overall business and provides actionable information to pinpoint areas of improvement for the benefit of both employees and the company.

Developed from 10 years of academic research and using patented technology, its analytics analyse the human experience of digital services. Its service provides organisations with actionable information whereby changes to their systems can be made to optimise and improve digital experience for customers and employees. For any organisation, this means that their most valuable assets - their employees - are liberated from digital slow time, their online brand reputation can be protected and they can make informed investment decisions. As the global economy becomes ever more reliant on digital technology and more flexible workplaces, the need for highly actionable insights is more significant than ever.