A report released by the World Economic Forum (WEF) in 2020 found that 80% of the firms surveyed were planning to increase the digitalisation of their operations, and 50% intended to accelerate the automation of production tasks. However, technology is only one aspect of productivity. Investment in Skills, intelligent Workforce Management as well as Performance Enablement systems, building a culture of Empathy, Collaboration and Trust, and embedding Wellness and Employee Experience have come to acquire greater salience in the new business paradigm brought about by a hugely disruptive pandemic.
So far, companies have done well to survive the disruptive and destructive onslaught of the pandemic. But as they look to emerge and build their businesses back up, integrating elements that catalyse productivity are going to be challenges with no easy answers. This process of recouping the lost ground and taking a giant productivity leap needs several factors and forces to come together in a machine-like precision for businesses to drive performance and accomplish the desired outcomes.
Even if the situation improves, uncertainty will likely continue to haunt, spotlighting at least four foundational focus areas for a productivity boost:
- Consumption trends are driving a business-model disruption, requiring launch of new products & services.
- Covid has spurred online purchases, prompting businesses to respond accordingly, shifting to digital and omnichannel delivery models to acquire new customers and tap into new markets.
- Investing in human capital, allowing employees tech-enabled learning opportunities is being seen as a sure-shot means to boost productivity.
- Rapid automation and digitalisation can create Augmented Teams, empowering them, making them more agile, lowering operating expenditure, and accelerating decision-making in a fast-paced business environment.
How Chief Executives, Finance Heads, Marketing Mavens, Tech Enablers and talent leaders together manage these shifts, can provide an opportunity to increase productivity & growth, lifting the global economy in the process. McKinsey predicts that consumption will likely boom as a result of the post-pandemic release of pent-up demand and massive injections of fiscal stimulus; this could potentially more than double the annual productivity growth rate observed after the Global Financial Crisis of 2008.
The success of this transformation lies at the intersection of people & skills as well as organisation & technology.
Where do organisations begin? How can they stay ahead of the curve? What do they need to drive productivity and perdormance in the upcoming year full of uncertainties yet opportunities? How do they bring various elements of people, work, technology and business together?
People Matters' Workforce Productivity Conference aims to brainstorm on these questions and focus on various levers to accelerate digitalisation, boosting productivity on the supply side while maintaining labor income & consumption on the demand side.
Join the daylong conference on 10th February, 2022, where top corporate leaders delineate the challenges they envisage and the strategies that can be deployed to buoy productivity and performance as we enter a new era of what can be called ‘compassionate competition’.
As 2022 heralds the new dawn of human history, with the world staging The Great Re-emergence after two apocalyptic years, People Matters' Workforce Productivity Conference comes at an opportune moment to enable you in your journey towards becoming an augmented organisation.
With 800+ CHROs, HR Heads & HR Functional Leaders, 5 tracks, and the best-in-class partners, the conference will help you stay on top of the latest trends, best practices, hot topics, and innovative insights, strategies, and ideas.
Insights from experts and leaders will help you design a comprehensive solution that balances short-term and long-term business & employee needs and achieve collaboration for productivity. These leaders include Thomas Kochan, George Maverick Bunker Professor of Management, MIT Sloan Institute for Work and Employment Research; Dave Snowden, Founder & Chief Scientific Officer, Cognitive Edge; Rajkamal Vemapati, Head HR, Axis Bank; Divya Garg, Head of HR, Uber; and Jasmine Gorimar, Group Technology - Digital Transformation Strategist, Mahindra Group, among others.