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Here are the top news stories in talent & organization from this week.
Transitioning to a hybrid AI-human workforce
A successful transition to a combined human and artificial intelligence (AI) workforce is both a priority and a concern for business leaders in the United Kingdom, according to new research. Capita People Solutions surveyed 500 leaders of medium- and large-sized businesses, and more than 2,000 employees. Of the leaders surveyed, 72 percent identified the workforce transition as a priority in the next five years, and 93 percent said they needed to start proactively managing the shift this year. More than half (51 percent) of the employees surveyed said they would leave their organization if it did not manage the transition or continue to offer opportunities for progress. “Investing in AI and automation is not enough to build a sustainable or productive hybrid workforce; organizations also need to ensure they have the skills, cultures and processes in place to work alongside this technology,” Erika Bannerman, executive officer at Capita People Solutions, told Personnel Today. “That means business and HR leaders listening to their employees and engaging in a meaningful dialogue around these future workforce dynamics, being open and transparent about their vision and plans, and motivating and engaging their people to thrive in this future world of work.”
Five ways to prepare for the future of work
Speaking of the transition to a hybrid workforce, Ashish Deshpande believes the workforce is ready for change and aware of the challenges ahead. In this Business blog post, he outlines five ways leaders can prepare for the workplace of tomorrow: 1. Foster trust and collaboration among employees. 2. Educate workers on the benefits of automation and upskill them for new tasks and roles. 3. Reduce unproductive time caused by redundant correspondence and administrative paperwork. 4. Carve out time for innovation. 5. Prepare for changes in the work environment. “Change is inevitable, but it can be hard and painful for everyone impacted,” Deshpande writes. “As a business leader, you owe it to yourself, your employees and your organization to prepare for the future of work.”
Gen X: Least happy at work
Generation X, those between the ages of 38 and 53, accounts for one third of the U.S. workforce, but has long been overlooked by employers focused on attracting and retaining millennials (20 to 37). Now a new study confirms the impacts of this neglect. According to MetLife’s Annual U.S. Employee Study, gen X workers feel underappreciated and lag behind in key financial security indicators. Only 59 percent of gen x employees are confident in their finances, compared to 67 percent of millennials and 65 percent of boomers. Gen X is also the least happy generation of employees at work—just 68 percent report being happy, compared with 75 percent of millennials and 74 percent of boomers. Contributing to gen X unhappiness is that only 54 percent of gen X workers feel empowered and 62 percent feel respected in the workplace. “The combination of gen X’s financial stress with low engagement and the perceived lack of appreciation can have significant negative repercussions across the workplace, and employers need to take this seriously,” Todd Katz, executive vice president, Group Benefits at MetLife, told Business Wire.
Women-led companies are better for employees
Women-led companies are not only better for business, but also better at meeting the overall job satisfaction needs of employees, claims Caroline Castrillon. In a blog post for Forbes, she cites the results of several studies, including one analysis which found that women CEOs in the Fortune 1000 drove three times the returns of S&P 500 enterprises run predominantly by men. Another study, conducted by Berlin Cameron, The Harris Poll and The Female Quotient, revealed that 50 percent of Americans would rather work at a female-led company than a male-led company because they’re more purpose-driven, more likely to have access to childcare, and more likely to offer equal pay. Peakon, a real-time HR insights platform, recently isolated five of the areas in which women-led companies are clearly thriving relative to male-led companies: strategy, mission, belief, communication and autonomy. “Having more females in executive roles is not only fair, but it’s good for business and employees. If organizations around the world can commit to making gender diversity a priority, everyone will win,” Castrillon concludes.
For more news on gender equality in the workforce, see our page here.
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