The big question for 2020 and beyond:
Have organizations built an agile and resilient workforce strategy that endures disruption and change?
Rarely in history have organizations across the world been faced with such widespread, long-lasting disruption as a result of a pandemic at precisely the same time. As organizations navigate fluctuating working arrangements and operating models, many are looking to transform their workforce strategy to stabilize, recover and ultimately achieve resilience.
Before the pandemic, Rival, formerly SilkRoad Technology partnered with Human Capital Media Research Group – the research arm of Workforce, to conduct a survey to identify where organizations were on their path to drive workforce transformation to endure disruption. These findings and their implications are more relevant today as workforce transformation and disruption are at the forefront of every leader of every organization.
Workforce transformation is a broad term with many applications. For our purposes, we’ll leverage the following definition from Booz Allen Hamilton: “Workforce transformation is about creating the ability and agility of an organization to work in fundamentally different ways.”
During normal times, most organizations experience some level of disruption. Our survey found that nearly 90% of respondents reported facing disruption. 10% of respondents said their organization wasn’t disrupted and didn’t anticipate that it would be in the future. Before the pandemic, most organizations cited disruption coming from changes in technology, their competitive landscape, labor force or industry.
Then the world changed.
Even before COVID-19 hit, 92% of companies thought their business models would need to change given digitalization. Despite herculean efforts and significant accomplishments at many businesses, the pandemic has brought into sharp relief how vulnerable companies really are.