Building a successful brand will depend on how you communicate with your customers. We are bombarded with too many marketing images and messages every day. To conquer this ‘communication fatigue’ companies will have to create genuine emotional connections to help them stand out. Such connections will build a brand that not only stands out from the crowd, but attracts and excites them. This will require effective use of social media and investing in understanding customers’ perceptions. Successful brands are ‘liveable’ and intertwine with the company’s culture. A negative personal brand has negative consequences for how the world perceives your company. Employees should act as willing brand ambassadors that reinforce the positive image your company wishes to portray.
Diversity will be essential for enhancing the user experience. The most valuable brands in the world have a higher than average proportion of female board members. Further to this, women control more than $20 trillion in annual consumer spending. Harnessing this market will require more diversity in talent and in leadership.
Your Future Workplace:
In the future of work, work will no longer be associated with endless open office space and a 9-5 workday. It will focus on results not hours. The ergonomics of the workplace will revolve around encouraging collaboration and creativity. Few people get their best ideas in the office. As a result, remote working, flexible hours and positive workplace cultures will become the norm as businesses focus on inspiring their staff and helping them achieve a work-life balance.
Engagement and creativity will be core business strategies. Engaged workers are innovative ones. This will become more of a business imperative as workers are increasingly concerned with finding purpose at work. Organisations who tailor to those needs will have the unfair advantage of employees displaying more ideas and creativity.
Millennials (the generation born between 1980 and 2000) will make up 75% of the workforce by 2025. Their dominance will define the culture of the future workplace. They are more independent and focused on personal needs. Values are going to play an increasingly important role in future business. Ultimately, they want their work to mean something. Organisations that are driven by purpose and strong corporate social responsibility will attract top millennial talent. We are seeing more companies abandon long mission and vision statements for simple one line messages. For example, TED’s statement is “Ideas worth spreading”, and Google’s statement is ‘Organize the World’s Information’.
Your future technology:
Technology will usher in a great deal of positive change for companies. It will help them access remote talent, encourage more collaboration across global offices, revolutionise the war for talent and open up organisations to innovative insights. Technology is a disruptive force that can be used to overtake your competitors and to disrupt the marketplace. Disruption is already a critical part of the most successful companies’ business strategies. It is important that companies embed technology into their organisation and foster a culture of experimentation in which everyone thrives. Companies like Uber and Airbnb have grown exponentially by not doing anything original, but by using technology to disrupt the industry.
Your future talent:
In ten years over 1 billion people will be over the age of 60. The population in many of the world’s developed countries is in decline or at a plateau. Japan, Greece, and Italy all have 0% population growth. This will make sourcing talent more difficult than ever and companies will need to look to diversity to tackle this problem. Germany and the US noted a talent shortage of 40% in 2014.
The ‘collapse of loyalty’ is making this talent shortage worse. Companies are losing their top talent because they are failing to keep them engaged. Worldwide engagement was ranked at less than 15% in a 2013 Gallup poll. Teams that are in the top percentiles of engagement are 70% more likely to have low staff turnover and 44% more likely to be profitable. Therefore, working on employee engagement is one of the best investments a company can make. You also need to embrace the fact that in the future you will employ more people who will be a contractor or a freelancer who may never even be in your office or even in the same country.
The key to overcoming the challenges that the future of work will bring will be your organisation’s talent. The benefits of having first-class and fully engaged employees will be seen throughout the business from brand and workplace culture, to a motivated and inspired staff. Fill your workplace with great people, and the future of work will bring you future success.
Peter Cosgrove is a Director with CPL and founder of the Future of Work Foundation in Ireland.
Peter will share his insights on the Future of Work at Ibec's 2015 HR Leadership Summit on 21 October. The Summit will take place in
the Royal Hospital Kilmainham in Dublin.
Peter Cosgrove's full full white paper can be found here http://bit.ly/FutureOfWorkDoc
Friday, 24 July 2015