2020 saw a dramatic and rapid change in how we work – with over ~40% of employed people shifting to partial or full remoting working and the largest rise in new businesses being set up since 2011 (+12% vs 2019). From our conversations with tech start-ups, scale-ups, and disruptors we are optimistic for the long-term future of work, and excited by the opportunities we see arising from these pandemic-forced shifts.
Whilst the clearest trend resulting from the pandemic has been an acceleration in working from home, the future of work was already a hot topic for many businesses, with previously emergent trends also being rapidly accelerated. The entry of millennials and more recently Gen Z into the workplace brought with it a new set of attitudes and expectations on what the role of the employer is, which has slowly been shifting the packages and benefits employers offer over the last decade. A particular area of shift has been around the importance and priority of employee wellbeing and employees’ view on the extent to which an employer should be viewed as a safety net. With 68% of people pre pandemic stating company wellness schemes as a significant factor in accepting a job offer. The pandemic has shone a spotlight on how employers treat employees, really drawing out those companies who have put employees first, risking their bottom line vs those who have pushed through potentially unsafe and stressful working conditions. Going forward this increased focus on wellbeing offers employers an opportunity to differentiate themselves, and use these changing expectations to attracti, motivate and retain their employees.
Working-from-home though for office workers has by far been the biggest shift and whilst now feels normal for those that can, it came a massive rupture to office work. According to The Economist report, by spring 2020 60% of Americans worked from home, up from 5% before the pandemic. Many of those will return to the office, in some capacity in the coming months, with varying levels of excitement. People at home are working longer hours but report higher levels of happiness and productivity.
The picture is, of course, more complex. Many have continued to work in factories or warehouses. Also, where you are matters. At the time of writing, the UK is experiencing some post-pandemic-normality, but Coronavirus continues to devastate India and other countries.
People’s experience through the pandemic has been deeply individual as well, and so, future design plans must consider the variation in experience: where and how people live and work, the complexity of their role and the network they have built to get the job done. Whilst some will feel valued and trusted by working independently; others may have anxiety and loneliness if office-life was also social-life or they don’t have the informal support network to rely on.
Additionally, for many fast growth scaleups up to 50% of the organisation could have been on-boarded during the pandemic and have not physically met anyone yet. Enabling some form of integration will be a key part of the plan for the next stage and facing into the realities of a globally distributed workforce.
As we emerge from the pandemic, we are at a crucial point. Operating model changes that have been forced in the past year must now be intentionally decided upon and we challenge leaders to ask themselves the most important question: Can you use this opportunity to fundamentally improve your organisations design and effectiveness, to deliver strategic and customer outcomes better than ever?
Bold leaders have a real opportunity to lay a foundation for future culture and growth. As well as considering the balance of home and office work, these include attracting previously unreachable talent pools if physical proximity is no longer a prerequisite and border boundaries are blurring.
Whatever the plan, it will need to be supported by the right infrastructure and governance, as well as employee retention and well-being schemes. It’s to that we will turn attention next.
With backgrounds in consultancy at Bain & Company and experience as CEOs of tech start-ups, our focus is the commercial, operational and strategic challenges that come with success and fast growth.
Learn more about how Spring can help you achieve explosive growth
Address
Spring Partners
Kemp House, 160 City Road London, EC1V 2NX, United Kingdom
Subscribe to keep up to date on tackling startup challenges
© 2020 Spring Partners. Designed & Developed by On Purpose Projects