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Future of Work: 4 Predictions for 2023

iStock 1077968114 - Global Banking | Finance

frameable profile adam 1 - Global Banking | FinanceRemote, Hybrid, and Flexible Arrangements Drive Change

By Adam Riggs, CEO, Frameable

As the world of work adopts more remote, hybrid, and flexible arrangements, the modern workplace is in a state of constant flux. As we approach 2023, it is evident that the changes we have seen in recent years are only going to intensify, as more companies take advantage of new technologies and flexible working practices to meet employee expectations and improve their bottom-line results.

To ensure success in this ever-shifting landscape, here are four predictions to consider when planning for the new year.

More Companies Outfitting Remote Workspaces

As more companies embrace the benefits of remote work, there will be an increased emphasis on providing employees with upgraded tools they can use to be even more successful from their home offices. Similar to the rise of open-layout offices with ping pong tables and drinks on tap in the last decade, we expect employers to offer a greater number of environmental perks to their remote employees. This could include stipends for lunch delivery, specific workspace items such as ergonomic chairs, standing desks, monitors, and headsets, and reimbursement for technology and high-speed internet.

Enhanced Technology to Accommodate Hybrid Working

As more companies embrace hybrid work, the workspaces themselves — both in-person and digital —  must be redesigned to accommodate both in-person and remote employees. Companies will need to be more creative in their approach to team building, team morale, and collaboration. We expect to see organizations test new software tools which allow in-person and remote employees to work together more efficiently and naturally. Think flat-panels in the physical office showing the remote workspace and colleagues in it, audio-enhanced video conference rooms, and use of digital workspace platforms by all colleagues on the team, even when working in the company’s office.

Flexible Work as the New Norm

Companies will become increasingly open to flexible hours and work schedules as a way to attract and retain the best talent. This shift is fueled by advances in technology that make it easier for employees to stay connected and collaborate, no matter their physical location or work schedule. Company back-to-office mandates may initially appear to succeed, only to lead to employee retention problems, especially during the next economic up-cycle. Additionally, more organizations will acknowledge the benefits of allowing their employees to have greater control over their work lives, such as improved morale, productivity, and job satisfaction. This shift towards flexible work is likely to become the new norm for many companies, and will require them to develop policies that protect and encourage the use of remote and flexible work arrangements.

The Rise and Fall of the Meta-Worse

The Metaverse will continue to be largely a workplace dud, at least in the short and medium term. As long as access to this virtual world requires bulky, uncomfortable hardware promoted by increasingly unpopular tech giants, workers will opt for other ways to work virtually. Virtual spaces need to be designed with work in mind. They need to provide tools and resources that help people work better together, not a mandate from the C-suite that they have to use these tools. Even with minor hardware and software improvements we have seen in recent months, the Metaverse will still face a steep uphill battle in gaining the trust of employers and employees alike. As such, it is likely to remain a niche solution in the immediate future.

As the demand for remote work continues to grow, companies must be prepared to accommodate the needs of their employees. This means providing employees with the necessary technology and workspace items to be productive, as well as offering flexible hours and work schedules. Organizations should also be aware that the Metaverse is unlikely to be a successful workplace solution in the near future and instead should focus on more practical solutions, such as virtual office platforms. Organizations should also consider taking a proactive approach to virtual office platforms, such as investing in tools and technologies that enable seamless collaboration, communication, and productivity. By understanding the needs of their workforce and the limitations of emerging technologies, companies can ensure their workplaces are well-equipped to support both remote, hybrid, and in-office employees as we enter the new year.

Ultimately, companies should recognize that the future of work is increasingly remote, and the success of their business will depend on their ability to accommodate and embrace the changing needs of their workforce. By investing in the right technology, offering flexible work arrangements, and taking a proactive approach to virtual office platforms, organizations can ensure their remote workforce remains productive and engaged in 2023.

Global Banking & Finance Review


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