What Changes do Companies Need to Make in 2017 to Retain Great Teams?

What Changes do Companies Need to Make in 2017 to Retain Great Teams?

If you work within the startup world, you have probably noticed some drastic shifts in workplace culture and employer practices. However, in 2017, these changes are expected to become more apparent in larger corporations.

What are these shifts and why will 2017 be the year mainstream work culture adopts them as standard practice?

Change #1: Recreating the Small Business Mindset

According to research from PWC's June 2016 report, “Work-life 3.0: Understanding how we’ll work next”, workers in smaller companies (those with 50 employees or less) proved to be happier and more invested in their work and company as compared to employees in larger companies (1,000+).

Small business associates are almost 50 percent more likely to rate their organization as "high-functioning" and 43 percent say they feel good at work—versus only 27 percent of their corporate peers. Also, 42 percent of small business employees say they feel appreciated at work, while just 69 percent of corporate laborers do.

Why the disparity? Smaller organizations and startups regularly seem to have less administration, better (and more authentic) company culture and more flexibility regarding work arrangements— such as making one’s own schedule and telecommuting. However, these components don’t have to (and won’t) pertain to only small businesses moving forward.

Larger firms can make employee work situations much the same as those at startups and small businesses, encouraging practices and outlooks among employees that drive a more passionate community group and an improved culture of engagement.

In 2017, you will see more and more companies adopt the interior "small business" ethos, because of its unequivocal impact on productivity, employee retention and even client satisfaction. Buyer trust today is less about being a statured brand and more about being receptive and honest — the sort of traits that smaller firms have a tendency to radiate.

Change #2: Faster Career Advancement

Generation Y and Z look for continuous input and acknowledgment for work done well.

As indicated by the PWC study, small businesses are more conscious of recognizing great work and prioritizing internal promotion. At Blink UX, a 70-man advanced consultancy, two workers every year are chosen to end up as partners in the business, picked according to their exemplification of the organization's values. At Integrated Project Management, the approximately 150-person organization holds a yearly planning meeting in which all full-time representatives are dynamic members, guaranteeing that everybody's voice is heard.

In 2017, in order to attract and sustain top talent, larger organizations will begin to act on the significance of appreciation and rewarding quality performance with promotions and other career growth opportunities.

alt

Change #3: The New Digital Enterprise

Today, any venture that isn't digitized has presumably been disrupted. Thus, computerized change is no longer about shifting existing procedures from analog to digital. In 2017, corporations will concentrate on making better approaches to create, promote and distribute products as well as executing smarter internal management.

Establishments that will lead the pack in 2017 will be the ones who are open to experimentation, who develop digital infrastructures that are both secure and adaptable, and who implement analysis that will make prioritizes knowledge and innovation as the genuine money-making center of the organization. There are amazing advancements coming in 2017; however, we will be able to experience their full impact only if organizations are the new kind of digital, created to bolster and engage the workforce — and clients — without bounds.

Change #4: Building a Virtual Office

Mobile desktops drastically changed our presumptions about work in 2016. No longer restricted to a specific workplace, our portable workstations transform our homes and neighborhood bistro into productive spaces.

This being said, imagine a scenario in which something comes up amid your child's soccer match. In 2017, your workspaces will become completely virtual and all documents, tools and communication will be accessible on any cell phone. Companies will increasingly utilize tools such as Intercom, Slack and GSuite to give local and remote workers an easy-to-use and effective virtual office on their devices.

Wearables will also become a hot topic for productivity and coordination. Today, wearables are being utilized for booking, correspondence, security and time tracking. Expect numerous more applications in the coming year.

Change #5: Telecommuting

Savvy, aggressive organizations will build and support a workforce that is hypermobile, adaptable and coordinated.

Over the previous decade, as phones, portable workstations and tablets have turned out to be pervasive mediums of communication, the "remote office" has turned out to be an increasingly common aspect of the work environment. Today, 38 percent of representatives say they can telecommute no less than one day in seven days.

Remote workers are 48 percent more prone to rate their employment a "10" on the bliss scale, with 10 being the highest.

In the PWC report, small businesses show significantly more adaptability than bigger organizations do with regards to encouraging remote work. While 86 percent of corporate laborers might want to telecommute at least one days seven days, just 26 percent do. In comparison, most small business employees say they are allowed to work remotely.

However, size isn't important with regards to the ability to dial in remotely. Numerous corporate offices have actualized telecommute strategies, with much achievement and appreciation from workers. At Microsoft, for example, over 40 percent of representatives detailed having the capacity to telecommute, as indicated by a review directed by PayScale. As a result, 70 percent of Microsoft workers refer to high occupation fulfillment. At Cisco, where 67 percent of representatives say they can work from home or work remotely, 75 percent of workers say they are very happy with their job.

An openness towards a work-from-home structure not only supports employee satisfaction, it can likewise shore up efficiency. When the Chinese travel site Ctrip gave its staff the chance to telecommute for nine months, it found that the individuals who telecommuted finished 13.5 percent more calls than the in-office staff did.

alt

Change #6: Blended Workforce

The blended workforce is growing. In the previous five years, the gig economy has turned into more than just a trend — it is a watershed moment in economic history affecting the worldwide workforce. Among many other changes caused by this new phenomena, we now see full-time staff working next to (physically or virtually) freelance workers.

A review investigating the gig economy found that 93 percent of organizations identified with the blended workforce concept, as they currently have independent specialists collaborating with employees on various projects.

At the SHRM 2016 Annual Conference in Washington D.C., Henry Jackson, the President of SHRM, noted that the "rise of freelance workers" was one of the main five greatest business patterns. Various studies, from Intuit to The Freelancer's Union, anticipate that no less than 40 percent of the workforce will be comprised of independent contractors by 2020.

Change #7: Building an Internal Freelancer Infrastructure

As Louis Hyman, Associate Professor and Director of the Institute for Workplace Studies at Cornell University, accurately observed, “the freelance workforce is the fastest-growing component of the economy. Figuring out where it is going is the most pressing question of our digital age."

To prevail in the current economic environment, corporations should re-assess how they treat, view and manage their workforces so that freelancer talent and full-time talent can coexist deliberately and effectively.

Large companies like PWC, McKinsey & Company and LinkedIn have experienced record numbers of desirable talent specifically looking for independent and contract work. These companies built, from scratch, an entire network of freelance talent available to their staff on-demand. In this way, outsourcing did not replace current employees, but rather, supplemented their current workforce in ways that benefitted deliverables for customers, and allowed them to recruit people who would have been unavailable for full-time employment.

Not all corporations, however, have the time or resources needed to build a reliable network of freelancers from scratch. This is why we created Konsus — a premium outsourcing service for businesses. Konsus represents the top two percent of available online talent, available 24/7 via chat, email and Slack.

Message us with your project description or questions to get started.

Run your business with Konsus