The report delivers insight into the future of
work and what employers need to know in 2023.
NEW
YORK, Dec. 14, 2022 /PRNewswire/ -- Infosys
(NYSE: INFY), a global leader in next-generation digital services
and consulting, and WSJ Intelligence, a leading analytics platform
that provides timely, custom research and insights for brands,
today released a new report — 'The New Workplace' — uncovering the
biggest trends and priorities that will drive the workplace in 2023
and beyond. The report reveals tangible gains made in productivity,
improved employee experiences from hybrid work, and the need for a
purpose-driven approach to recruiting, company culture, and
business strategy.
Infosys and WSJ Intelligence surveyed more than 1,000 U.S.
senior executives to explore workplace trends resulting from the
pandemic—from hybrid and remote work to the economy's impact on the
labor market—and how both employees and employers feel about them.
The report underscores that employers are facing an inflection
point: They must rethink work norms and learn to adapt and derive
value from the long-term impact of the pandemic.
The report identified five key findings:
- Productivity does not correlate with remote or
in-office work: While 57% of respondents agreed remote
work boosts productivity, 53% also agreed productivity is a key
benefit of working in-office. However, the study also found that
certain industries experienced higher productivity from remote work
than others. Of the industries that fared best with remote work,
high-tech (63%), telecom (54%), and financial services (51%)
reported their industries will likely adopt a "work from anywhere"
model going forward.
- There's no "one-size-fits-all" approach to
remote and hybrid work — but leaders still care
about visibility: Respondents are torn when it
comes to remote and in-office work, agreeing that each company
should make policy decisions based on business needs, industry, and
work culture. Across industries, nearly half (46%) of leaders
agreed office visibility was still important as part of the
performance evaluation process.
- Work-life balance is dependent on remote work:
60% of respondents indicated work-life balance improved with remote
work, while only 43% were able to achieve this balance
pre-pandemic when working in-office.
- Employees value companies that align business strategy with
purpose: When it comes to business causes and profits,
sustainability and purpose are top of mind for employees, with 75%
of respondents noting a purpose strategy is core to talent
retention and recruitment.
- Employers determine remote work policies based on skills
versus degrees: Employers are reimagining plans to
hire, onboard, and upskill workers with a stronger emphasis on
skills (64%) vs. degrees (53%), and they must make hybrid or remote
work policies based on worker preference and performance abilities
in order to survive. This is especially true for employers in the
tech, retail, telecom, manufacturing, and energy sectors.
Tan Moorthy, EVP and Head of
Delivery for the Americas, Infosys, said, "As 'The New
Workplace' report shows, the benefits of remote and in-office
work vary by job and industry. One model isn't better than the
other, which means gone are the days where location matters.
Employers will make the call on who comes into the office and who
doesn't based on what each worker can do. Skills and abilities
— not degrees or showing up at an office — will drive
post-pandemic workplace norms."
Elizabeth Nann, Executive
Director, WSJ Intelligence, said, "In collaboration with
Infosys, our research brings to light the growing need for
workplace flexibility and innovation, as employees demand policies
that match culture, and employers seek top talent to meet
purpose-oriented business needs."
To view the full report, please visit:
https://partners.wsj.com/infosys/humanizing-digital/
Methodology
This report, conducted by WSJ Intelligence with sponsorship from
Infosys, presents the key findings of a survey of 1,002 senior
executives at large U.S. companies (with over $500 million in revenue).
About WSJ Intelligence
WSJ Intelligence conducts bespoke and secondary custom research
for brands and advertising partners of The Wall Street Journal |
Barron's Group. Through rigorous analysis, WSJ Intelligence
provides insights that are relevant, timely, and reliable. The Wall
Street Journal news organization is not involved in the creation of
this content.
About Infosys
Infosys is a global leader in next-generation digital services
and consulting. Over 300,000 of our people work to amplify human
potential and create the next opportunity for people, businesses
and communities. With over four decades of experience in managing
the systems and workings of global enterprises, we
expertly steer clients, in more than 50 countries, as they
navigate their digital transformation powered by the cloud. We
enable them with an AI-powered core, empower the business with
agile digital at scale and drive continuous improvement with
always-on learning through the transfer of digital skills,
expertise, and ideas from our innovation ecosystem. We are deeply
committed to being a well-governed, environmentally sustainable
organization where diverse talent thrives in an inclusive
workplace.
Visit www.infosys.com to see how Infosys (NSE: INFY) (BSE:
INFY) (NYSE: INFY), can help your enterprise navigate your
next.
Safe Harbor
Certain statements in this release concerning our future growth
prospects, financial expectations and plans for navigating the
COVID-19 impact on our employees, clients and stakeholders are
forward-looking statements intended to qualify for the 'safe
harbor' under the Private Securities Litigation Reform Act of 1995,
which involve a number of risks and uncertainties that could cause
actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding COVID-19 and the effects of government and
other measures seeking to contain its spread, risks related to an
economic downturn or recession in India, the United
States and other countries around the world, changes in
political, business, and economic conditions, fluctuations in
earnings, fluctuations in foreign exchange rates, our ability to
manage growth, intense competition in IT services including those
factors which may affect our cost advantage, wage increases in
India and the US, our ability to
attract and retain highly skilled professionals, time and cost
overruns on fixed-price, fixed-time frame contracts, client
concentration, restrictions on immigration, industry segment
concentration, our ability to manage our international operations,
reduced demand for technology in our key focus areas, disruptions
in telecommunication networks or system failures, our ability to
successfully complete and integrate potential acquisitions,
liability for damages on our service contracts, the success of the
companies in which Infosys has made strategic investments,
withdrawal or expiration of governmental fiscal incentives,
political instability and regional conflicts, legal restrictions on
raising capital or acquiring companies outside India, unauthorized use of our intellectual
property and general economic conditions affecting our industry and
the outcome of pending litigation and government investigation.
Additional risks that could affect our future operating results are
more fully described in our United States Securities and Exchange
Commission filings including our Annual Report on Form 20-F for the
fiscal year ended March 31, 2022.
These filings are available at www.sec.gov. Infosys may, from
time to time, make additional written and oral forward-looking
statements, including statements contained in the Company's filings
with the Securities and Exchange Commission and our reports to
shareholders. The Company does not undertake to update any
forward-looking statements that may be made from time to time by or
on behalf of the Company unless it is required by law.
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SOURCE Infosys