May 21, 2019 — Scottsdale, AZ — Nearly one-third of organizations are already feeling extreme pain due to the pandemic, another 20% will experience the same by July and 32% will reach that point in 2021. This is a key takeaway from The Impact of COVID-19 on the Future of Work survey conducted by WorldatWork and Greenwich.HR. The survey assessed 1) if organizations are estimating how long they can survive in their current state and, if so; 2) when their organization will reach a critical point of survival; 3) if investments in technology have been accelerated due to COVID-19 and what the key driver is to do so; and 4) if companies are adhering to local or centralized COVID-19 mandates; among other findings. (Journalists: contact email@example.com for a copy of the results.)
“The data here suggests the wide-ranging and compelling issues that will significantly impact organizations, employees and Total Rewards professionals,” says Scott Cawood, President and CEO, WorldatWork. “For example, organizations with multiple locations will need to wrestle with many challenges due to differences in relaxing restrictions across the country, and around the world, including the fact most schools will be opening at different times. Current policies for how to address disparities must be updated now to account for the many differences employees are facing, including some returning to offices while others are still working from home. We will all be addressing a multitude of changeable scenarios we’ve never before faced.”
"Many aspects of companies' cultures are being rapidly challenged and revised," says Cary Sparrow, CEO of Greenwich.HR. "Norms about remote work are changing, and we expect many companies to be permanently adopting much more flexible approaches to working from home. Companies are experiencing first-hand how this can open the doors to many positive benefits to both employees and employers. But these changing expectations can cut both ways. In the past, offering flexible work at home policies was often seen as a positive differentiator to a company's employment brand. Going forward, not having such policies will likely be a negative differentiator for many more types of jobs."
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