- An international survey of more than 1,200 business and HR leaders said building trust, nurturing human skills and wellbeing are the most important capabilities for the workplace of the future. The new PwC study, "Preparing for Tomorrow's Workforce, Today", gauged how organizations can prepare for the future.
- The survey discovered a gap between the understanding HR and business leaders have about their organizations' status as future-ready. HR leaders reported progress in creating career development paths, but only a third of business leaders agreed. And while 60% of HR leaders expressed confidence that transparency reduces concerns around pay, only 45% of business leaders found that to be true.
- Another discrepancy between HR and business leaders revolves around technology. Most businesses (63%) said an important function of HR is to understand technology and its effects on workers. More than 40% of HR leaders said they are confident that their HR departments have kept pace with emerging technology, but only a quarter of business leaders agreed.
HR leaders are ready to take their organizations through a digital transformation, but many said they lack the resources needed to do so. Organizations must make the necessary upfront investments in technology so that they can move forward with the transformation in preparation for the future of work. With a hands-on understanding of technology's advantages, HR leaders know well how technology can redefine the workplace.
However, the C-suite's lack of confidence in HR's capabilities to handle technology and other business functions is a barrier to an organization's future success. HR leaders must communicate to senior organizational leaders what kind of preparation is necessary to get the workforce ready for the demands on which a technology-driven, human-focused workplace will rely and how their expertise affects the bottom line.
Correction: An earlier version of this story misidentified the name of the PwC study. The title is "Preparing for Tomorrow's Workforce, Today."