How Midsize Companies Build the Future of Work in 2021
Much of the business world has been leveled by the COVID-19 pandemic. Still, the negative effects on midsize businesses – defined as organizations with less than 5,000 employees – could last longer and have more consequences.
A 2020 research by Oxford Economics, the Society for Human Resource Management (SHRM), and SAP SuccessFactors shows how midsize companies across ten countries focus on survival and recovery. In this blog, discover their responses on managing their business during the pandemic.
Rethinking the way we work
Global health restrictions required organizations across different sectors of all sizes to develop new ways of working. Aside from implementing safety protocols, these businesses made significant changes to how they communicate with their customers and employees. These adjustments also include investments in IT and collaboration processes, as well as finance and accounting practices.
Evolving workplace and workforce needs lead to ongoing operational changes, as companies constantly strive to ensure employee engagement and safety.
You can choose to implement social distancing precautions, follow a staggered on-site setup, conduct regular surveys for employee feedback, or a combination of the three – all to work towards establishing your company’s new normal.
Closing the skills gap
Most businesses prioritized maintaining productivity given the new ways of working, and your company is probably no exception. Though boosting employee productivity is a necessary business outcome, learning and reskilling programs are a must for meeting performance targets, especially in the long term.
Midsize companies are in a prime position to focus on talent development, as senior leadership can take an active approach towards employee training, change management, and growth strategies. New ways of working go together with a demand for new skills, so employee development should not be put on the back burner. Instead, focus on coming up with these reskilling efforts to build your employees’ technical capabilities while your organization evolves. Plus, you can emphasize flexible work policies, which has become a differentiator in retaining and attracting top talent.
Bridging the digital divide
Research shows that midsize businesses believe they have the necessary technology to navigate the constantly changing work landscape. Unlike larger organizations though, they are less likely to invest in new technology, specifically for collaboration tools and workforce analytics – which could leave them behind competitors.
With the workplace split between remote work and on-site, you must address an immediate technology challenge – ensuring all employees have what they need to perform their jobs. This issue means employees remotely working should have connectivity and an environment suitable for focus, among others.
If left unaddressed, these unmet needs can hinder organizational strategies and even affect overall employee productivity and satisfaction. Build a more equitable workplace by ensuring you have operational and workforce strategies for all employees, whether they work remotely or on-site.
Midsize companies have faced similar challenges worldwide, but this research shows you can undoubtedly continue operations with the right plans in place. Learn from these lessons of disruption, and use this invaluable experience to protect your employees, stabilize your finances, and map out your future.
As a trusted global innovator, NTT DATA can help your small or midsize company plan for the years ahead. Whether you want to make large-scale digital investments or transform your existing platforms, NTT DATA will bring about accelerated change to your business, even during the pandemic.
NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, IT modernization and managed services. NTT DATA enables clients, as well as society, to move confidently into the digital future. We are committed to our clients’ long-term success and combine global reach with local client attention to serve them in over 50 countries. Visit us at nttdata.com/ph.
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