Key Workplace Transformation Decisions Shifting from CHROs to CEOs: Infosys Study
Bengaluru: Infosys Knowledge Institute (IKI), the thought leadership and research arm of Infosys (NYSE: INFY), today published a global research report on the workplace transformation landscape titled, ‘Drive Change from Within.’ The research revealed that CEOs are now prioritizing on driving a workplace transformation roadmap and contributing to its development in the organization.
Infosys surveyed more than 1,300 senior leaders from banking, healthcare, manufacturing, retail, telecom, and energy and utility firms, with revenues of more than $1 billion, for this report. The study offers a detailed view into how transforming the workplace can lead to the growth and success of an enterprise in today’s competitive landscape, market dynamics, and customer expectations. It also provides perspectives on workplace transformation trends, adoption of various contemporary tools, transformation benefits, and apprehensions, across organizations.
Key findings of the survey:
45 percent respondents believe that CEOs are the most influential in driving a workplace transformation roadmap.
57 percent of organizations consider digital tools (e.g. enterprise productivity suites, enterprise communication software etc.) to have the maximum impact on workplace transformation. The impact of digital tools on workplace transformation is ranked higher than that of physical elements (e.g. co-working, smart buildings, etc.) and cultural changes (e.g. training & upskilling, work-life balance, etc.), which are at 38 percent and 15 percent respectively.
Organizations strongly believe that digital workplace transformation can improve collaboration across teams (86 percent), and provide superior customer experience (84 percent).
Adoption of the workplace transformation strategy is well underway with more than 80 percent organizations already having a well-defined strategic roadmap in place.
55 percent of respondents reckon choosing the right solutions/technology is a significant concern before embarking on workplace transformation. During implementation, data security (77 percent) and obtaining a buy-in across the organization (74 percent) were stated as the biggest challenges.
The ability to drive alignment with business outlook (60 percent), leverage the latest technologies (55 percent) and manage cultural change (53 percent) are seen as the top advantages of working with external partners for workplace transformation.
While workplace strategy and implementation is prevalent across industries, Banking, Financial Services & Insurance, Retail, Consumer Goods, Logistics, Communications, Media and Technology sectors lead the pack.
Ravi Kumar, President, Infosys, said, “The current multi-generational workforce demands a workplace that is highly collaborative, productive and engaging. Therefore, today organizations are utilizing the power of digital technologies to create a modern workplace where employees aspire to grow not just as individuals but as a focused network of teams. This entails reimagining employee experience and engagement in a meaningful way, while encouraging collaboration and ensuring information security. This report reinforces that workplace transformation has moved beyond physical infrastructure and has become a key priority for the C-suite who are looking to empower their employees with the right set of digital tools and fresh experiences.”
John Laherty, Senior Research Analyst, NelsonHall, said, “The paradigm shift in the workplace transformation space has made it imperative for organizations to provide their employees ‘consumer-like’ experiences. The research report by Infosys, ‘Drive Change from Within’ highlights the fact that companies are embracing digital tools and technologies in order to foster collaborative workplaces which will culminate into increased efficiencies. Organizations today stand to gain from building workplaces that enable employees to utilize their true potential, increase their productivity and provide a seamless user experience without compromising on security. The first movers in this transformation journey can use this competitive edge to their advantage and get more value from their workplace, faster.”