Employees Retain Workplace Power Despite Economic Crisis: Infosys Report | Daily News Byte

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A report by Infosys and VSJ Intelligence found that employees today need flexibility and innovation in the workplace

Infosys recently released a new report – “The New Workplace” – revealing the biggest trends and priorities that will drive the workplace in 2023 and beyond. The report reveals tangible gains in productivity, improved employee experience due to hybrid working and the need for a purposeful approach to recruitment, company culture and business strategy.

Infosys and VSJ Intelligence surveyed more than 1,000 US senior executives to explore workplace trends resulting from the pandemic — from hybrid and remote work to the economy’s impact on the labor market — and how both employees and employers feel about them. The report highlights that employers are facing a tipping point: they must rethink work norms and learn to adapt and extract value from the long-term impact of the pandemic.

Tan Moorthi, vice president and head of delivery Americas, Infosys, said: “As ‘The New Workplace’ report shows, the benefits of telecommuting and working in the office vary by job and industry. One model is not better than the other, which means that the days where location matters are over. Employers will determine who comes into the office and who doesn’t based on what each worker can do. Skills and abilities – not degrees or showing up at the office – will drive post-pandemic workplace norms.

The report identified five key findings:

  • Productivity does not correlate with telecommuting or office work: While 57% of respondents agreed that telecommuting increases productivity, 53% also agree that productivity is a key benefit of working in an office. However, the study also found that certain industries experienced greater productivity from telecommuting than others. Of the industries that fared best with telecommuting, high-tech (63%), telecommunications (54%) and financial services (51%) said their industries were likely to adopt a “work-from-anywhere” model in the future.
  • There’s no “one-size-fits-all” approach to remote and hybrid work — but leaders still care about visibility: Respondents are concerned about remote and in-office work, agreeing that every company should make policy decisions based on business needs, industry and work culture. Across all industries, nearly half (46%) of leaders agreed that office visibility remains important as part of the performance evaluation process.
  • Work-life balance depends on remote work: 60% of respondents indicated that their work-life balance was improved by working remotely, while only 43% managed to achieve this balance before the pandemic while working in the office.
  • Employees value companies that align business strategy with purpose: When it comes to business causes and profits, sustainability and purpose are top of mind for employees, with 75% of respondents citing a purpose strategy as key to talent retention and recruitment.
  • Employers set telecommuting policies based on skills vs. degrees: Employers are reimagining plans for hiring, engaging and training workers with a stronger emphasis on skills (64%) versus degrees (53%), and need to create hybrid or work policies remotely based on worker preferences and ability to work for survival. This is especially true for employers in the technology, retail, telecommunications, manufacturing and energy sectors.

Elizabeth Nann, CEO, VSJ Intelligence, said: “Working with Infosys, our research reveals a growing need for workplace flexibility and innovation as employees demand policies that fit the culture and employers seek top talent to meet targeted oriented jobs. needs.”

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