Some organizations are slowing rate of return and others are having a digital default (remote work), like
Question:
Some organizations are slowing rate of return and others are having a digital default (remote work), like Shopify. Think about the appeal, savings, larger talent pool and compensation ramifications with remote work.
Most organizations are actively trying to increase engagement and retention. The link below is to an interesting Gallup article, some highlights:
- Gallup research has shown that job flexibility increases engagement and employees that are engaged have higher performance. Highly engaged workplaces have 41% lower absenteeism, 40% fewer quality defects, and 21% higher profitability.
- Gallup discovered the optimal engagement boost occurs when employees spend 60% to 80% of their time working off-site eg 3-5 days and still have face time with colleagues.
- Much of the research indicates that remote workers are more productive than on-site workers as well. In the article Gallup notes illustratively, with employees working remotely three days a week, a company can improve their average engagement rate and productivity by 5%, saving about $3,000 per employee. But the most engaged employees, who create an average 15% productivity bump would save the company up to $8,000 per employee.
- Gallup notes that data shows that 51% of workers are actively looking for a new job or are open to one. Coincidentally, 51% say they would switch to a job that allows them flextime
A key challenge managers encounter with remote workers is making sure they are working on the right things and keeping them connected. Agile work environments (Agile is a methodology of work taken from technology teams and making its way from tech teams to company-wide) have introduced supporting concepts and technology. Technology and collaboration tools (Teams, Slack) can allow meetings and other collaborations to be effective both live or virtually.
What are your thoughts on the above article and an expanded talent pool, productivity and collaboration?
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams