A new report from Verizon Business, “Recreating Work as a Blend of Virtual and Physical Experiences, “examines the impact of the recent rise in remote working and discusses key areas business leaders should focus on as they help their organization adapt to new ways of working moving forward. The report, carried out in conjunction with Harvard Business Review Analytic Services, is based on feedback from 1,080 global business leaders, and was conducted in May 2020.
“The global pandemic accelerated this move to a digital working environment and business leaders need to use the lessons of the present to future-ready their organizations,” comments Sampath Sowmyanarayan, President of Global Enterprise, Verizon Business. “Seeing how their network, security and employee collaboration systems have operated during the pandemic should provide the blueprint for the road ahead. By acting now, they can capture the needs of employees and customers and create alignment across the organization as they pivot toward the new normal.”
86 percent of the companies surveyed see the digital workplace co-existing with the physical workspace in the future, with 78 percent expecting to increase the amount of remote work conducted. This increase doesn’t mean everyone will work from home in the future. Rather, organizations will be able to pick and choose which types of work and which people will require a physical presence, and where the company can gain efficiencies and productivity with virtual work.
This new insight has resulted from successful experiences obtained during the initial period of the pandemic. 61 percent of business leaders reported that the quality of remote work was on par as that conducted in the physical workplace. The benefits of remote working also shone through, with 52 percent experiencing improved collaboration; 57 percent seeing a boost in business agility and nearly half witnessing an increase in productivity (44 percent).
Many businesses benefited from the use of collaboration technologies to maintain productivity with videoconferencing topping the list (98 percent) with other tools such as file sharing (97 percent), instant messaging/chat (95 percent), other collaboration methods (e.g., Slack or Teams – 88 percent) and cloud-based collaboration (85 percent) all also being referenced. In addition, the use of online interactive training to keep employees engaged in their own personal development was key (85 percent).
The report also highlights that businesses that have a digital workplace strategy are consistently more likely to see greater returns from their investments than those that don’t. For instance, 52 percent saw increased productivity versus only 40 percent of those without such a strategy. In order to achieve these results, businesses need to go beyond a mere work-at-home policy to define the purpose and goals of the program, the approach the organization will take, and how they will measure success. The use of technology is a key differentiator in this strategy.
The potential of 5G technology was seen as going beyond basic operational improvements to provide more transformative changes, with one fifth (20 percent) of respondents saying that it will enable them to do work they have never been able to do before. Twenty-eight percent believe it will enable new business models to be explored, adding more value to their business proposition. Forty-one percent of those surveyed expected 5G to become a reality for their own organization within two years, opening the door to applications that employ higher-quality/lower-latency video and augmented or virtual reality (AR/VR).
Not surprisingly, security was flagged as a potential barrier which may slow digital work momentum (35 percent). However, 86 percent of respondents stated the importance of addressing data security to get the most value from their digital investments in the future.