Are US organizations taking steps to meet the challenges presented by the future of work? Bloomberg surveyed 300 senior-level HR, IT, Finance and Strategy professionals to find out. Read on for a summary of the key findings and download the full report.
Few issues are more important to a business than preparing its workforce for the future, and none are more challenging. Preparedness requires strategic focus, cross-functional collaboration, a deep understanding of emerging technology, and a vision for talent development.
A Bloomberg study conducted in September 2018 asked 300 business leaders across HR, IT, Finance, Operations, and Strategy if they were meeting these challenges, and where they might need to strengthen efforts to fully prepare for the future of work.
The survey identified several immediate issues with potentially serious consequences for business.
Workforce of the Future: More is Needed to Close the Preparedness Gap
These issues put at risk the long-term health of organizations that are not actively preparing. Right now, most companies are focused on current, rather than future, talent needs. For workforce issues, though, the future is fast approaching, and all companies should be making preparedness a priority.
Download the PDF of the full report or read on for a summary of the highlights.
Only about one-third of respondents said their companies have a formal workforce preparation strategy, and a notable proportion (28%) are only just beginning to discuss the topic with senior leadership. Furthermore, only about half feel their company is ready to incorporate new technologies that will emerge in the next five years.
Human resource professionals largely remain in their traditional roles of recruiting and workforce development rather than taking the lead in setting future strategy and decision-making when it comes to technology and automation, and how they are rolled out in the workforce. IT usually taking responsibility for those decisions with significant input from finance, strategy, and operations.
Meanwhile, only 21% of companies across other industries said they have a specific strategy. High-tech companies are the most forward-leaning in thinking about the future of work. In fact, they are on top of all the key readiness elements, from collaboration to adapting to change and disruption to anticipating the impact of emerging technologies on their people and market position.
All companies can take a cue from the tech industry to recognize that the future of work is now. Winning companies are already solving a number of key workforce issues, so firms without a strategy risk falling behind. So what can you do to get started? Through work with clients, we have determined three key steps you can take to starting your journey towards a workforce for the future on the right foot.
Ready to get started? Mercer has been ranked as the #1 HR consulting firm in the US for 16 consecutive years by career intelligence site Vault and is well-positioned to help you build your workforce for the future. Contact us to connect with a consultant today.
Download the Whitepaper – Workforce of the Future: More is Needed to Close the Preparedness Gap
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