Second installment of thought leadership series ‘VISION by Protiviti’ focuses on the future of work; features results of Protiviti-Oxford University survey of global business executives
MENLO PARK, Calif. and LONDON, March 23, 2022 – Global consulting firm Protiviti has launched the second installment of VISION by Protiviti, a provocative thought leadership series that analyses megatrends to provide strategic insights for C-suite executives and board members. The second installment focuses on the future of work and features a new global survey of 250 C-suite executives and board members working across a diverse range of industries. Conducted by Protiviti and the Oxford Global Centre on Healthcare and Urbanisation at Kellogg College, the survey provides outlooks from global leaders about current and evolving workplace trends, ranging from human capital and talent retention to artificial intelligence and the emerging technologies that are driving digital transformation.
The survey revealed that 74% of global business executives believe that digital and emerging technologies will increase the size of the workforce in the next decade. It also found that 86% expect the types of jobs their employees will perform to be different from today — a figure that remains nearly unchanged regardless of where the leader’s company is headquartered globally. When asked about the specific technologies that will drive radical transformation and growth, “artificial intelligence and machine learning” and “system integration” each ranked highest among leaders (88%), followed by “autonomous robots” (70%). In contrast, only 7% believe that quantum computing will be a transformative factor in the next decade, suggesting that businesses are still in the very early stage of leveraging this technology.
“Over the past two years, business executives around the world have been navigating seismic workforce shifts due to the pandemic while driving massive acceleration in digital transformation,” said Cory Gunderson, executive vice president, global solutions, Protiviti. “Their insights, shared in the latest VISION survey, serve as a valuable resource to organisations seeking guidance on how to remain agile and competitive in recruiting and retaining their talent over the next decade.”
Retention Amid the Great Resignation and Beyond
Business leaders also responded to questions about another dominant workplace trend: talent retention. With the Great Resignation continuing to impact organisations across the globe, retention and turnover remain a top concern among 83% of the surveyed executives. Surprisingly, despite the current environment, 84% believe that employee loyalty and retention will increase over the next decade—a number that jumps to 95% among North America-based leaders.
While they remain optimistic about retaining talent, they’re less so when it comes to recruiting skilled workers to fill open roles. When questioned, 86% expressed concern about a potential shortage of qualified workers arising within the next 10 years.
“As emerging technology changes the way people work, organisations need to focus on upskilling their employees and operational efficiency to achieve the levels of loyalty and retention they expect,” said Fran Maxwell, managing director and leader of the Workforce and Organisational Transformation practice, Protiviti.
Learn More About the Future of Work
Protiviti and the University of Oxford partnered to conduct the global survey of 250 business executives about the future of work and emerging technologies that will have the greatest impact on the workplaces of tomorrow. Survey data was collected in January and February 2022. The survey report, “Executive Outlook on the Future of Work, 2030 and Beyond” and an interview about the key findings with Oxford professor David Howard are available with complimentary subscription on the VISION website.
Similar to the first edition of VISION by Protiviti, the thought leadership content is available in a variety of formats, including articles, podcasts, video interviews, roundtables and special events. Subscribe to VISION by Protiviti for free here. VISION by Protiviti will explore social responsibility and money in its upcoming 2022 installments.
Established in 2018, the Global Centre on Healthcare and Urbanisation (GCHU), Kellogg College, University of Oxford, brings together leading and influential thinkers in an interdisciplinary approach embracing evidence-based healthcare, sustainable urban development and education, and provides a collaborative forum for organisations active in these disciplines.