WARSAW, Poland, Oct. 17, 2020 — Infrastructure investment is a key priority for Countries in Central, Eastern, and Southern Europe (CESEE) to accelerate the convergence of the living standards toward the level of the more advance European countries, the EU15 – says the IMF report published on 28th Sep 2020. IMF highlights the Three Seas Initiative Investment Fund (3SIIF) as an initiative with the "aim to address infrastructure needs in CESEE."
The report estimates that closing 50% of the infrastructure gap until 2030 would require an annual investment of 3-8% of GDP. Attracting private investors should be an important step towards achieving this ambitious challenge.
To engage investors, the state development bank of Poland, Bank Gospodarstwa Krajowego (BGK), took the initiative to establish the Three Seas Initiative Investment Fund (3SIIF). In the report, the IMF mentions the Three Seas Fund as one of "the several initiatives aim to address infrastructure needs in CESEE".
"The Three Seas Fund is the economic dimension of the Three Seas Initiative. The Fund is the most important financial undertaking in Central and Eastern Europe. We set a clear goal for the Fund – financial support for infrastructure investments in the region. Such support is especially important these days as economies struggle with the effects of the COVID pandemic. The initiator and co-founder of the Fund is the Polish development bank BGK. We established the Fund together with our partners from the Romanian development bank EximBank" – says Beata Daszyńska-Muzyczka, the 3SIIF Supervisory Board Chairperson and BGK President.
The Three Seas Fund’s main objective is to invest in transport, energy and digital infrastructure on the north-south axis in the Three Seas countries and to offset the regional development differences in the European Union. The Fund is a commercial and market-driven initiative that will grant a diversified investment and an attractive return.
The IMF team also state that, if done right, infrastructure investment could yield significant dividends in the region. More and better public investment can help repair the economic damage of the pandemic, raise potential output, and speed income convergence with the EU15.
"At this time of economic slowdown, its benefits could be even larger. We estimate that for each percent of GDP spent on infrastructure, the output could rise by 0,5-0,75% in the short run and by 2-2,5% in the long run" – the report reads.
LONDON, Oct. 9, 2020 — Despite predictions that the pandemic would cause a decline in international students, the United Kingdom is set for a record increase. Interestingly, enrolments from non-EU international students went up 9 per cent this academic year. According to Jimmy Beale, the founder of The English Education, a placement consultancy that advises international parents about independent schools in the UK, Chinese students make up much of the international student body in Britain. A Chinese education agency survey also found that the UK surpassed the US as a destination of choice for students due to growing tensions between China and the US.
Beale, whose clients are often admitted to top tier institutions like Westminster and Harrow, says that all international boarding pupils who do not have UK passports require a Tier 4 Student Visa. Although the process is simple for students, parents had difficulties visiting their children as embassies in certain countries were closed.
"If you are a St Kitts and Nevis citizen, the process of sending your child abroad for schooling is much simpler," says Natasha Jones, a legal assistant at CS Global Partners. "You are exempt from requirements to prove knowledge of the English language, you do not need to have a tuberculosis test if you residein St Kitts and Nevis, and you are exempt from the requirement to self-isolate for 14 days upon arrival in the UK if you have spent the last 14 days in St Kitts and Nevis. Family members [with St Kitts and Nevis citizenship] can also easily visit their children who are studying in the UK because of their visa-free access," she added.
Jones also highlighted St Kitts and Nevis’ status as a Commonwealth country and the benefit that it brings. "In the UK, Commonwealth citizens are eligible for various scholarships for master’s degrees and PhD courses which often cover tuition fees, living allowance, and travel," she said.
The fastest and easiest way to attain St Kitts and Nevis citizenship is through the Citizenship by Investment Programme. Once vetted, investors can contribute to the Sustainable Growth Fund and receive citizenship. Along with the advantages of education and travel, citizenship can also be passed down. For a limited time, families of up to four can invest $150,000 and brighten their child’s path to high-quality education.
Study conducted by independent consulting firm reveals how Peakon enables organizations to generate strong return on investment (ROI) through improved productivity, reduced staff turnover, and less absenteeism
COPENHAGEN, Denmark, LONDON, AUCKLAND, New Zealand, BERLIN and NEW YORK, Oct. 2, 2020 — Peakon – an employee success platform – today released a commissioned Total Economic Impact™ study, conducted by Forrester Consulting, which quantifies the benefits and returns of using Peakon. The study proved a direct correlation between employee success and business success.
A composite organization, made up of interviewed Peakon customers, enjoyed an ROI of 244 percent over three years, equating to a net present value (NPV) of $1.2million.
The study found that, by using Peakon, the composite organization financially benefited in the following ways:
Savings of approximately $871,000 driven by a 10% reduction in voluntary staff turnover over three years.
Estimated savings of $755,000 as a result of reduced employee absenteeism, with average absenteeism declining by two days after the first year with Peakon.
Savings of around $5,200 as HR teams save seven days annually on post-survey analysis: Peakon survey results are delivered directly to managers instead.
When interviewed for the study, one enterprise customer from the recruitment sector said: "The Peakon platform drives engagement results to managers directly through the dashboard. That really empowers them to understand how they’re leading the team, what’s working well, and what improvements they could make."
Another enterprise customer, director of people services in the non-profit industry, said: "The implementation process itself was probably one of the easiest I’ve ever been a part of… It was seamless. It was right on time as promised."
In addition to the quantifiable benefits above, the composite organization also reaped the following unquantified benefits:
Improved Employee Experience (EX). Peakon customers interviewed for the study repeatedly stated that their EX scores improved following the implementation. As we know from previous research, engaged employees positively impact customer experience, productivity, hiring, and overall profitability.
Empowered managers. The composite organization found that Peakon helps to empower managers. It makes it easier for managers to address difficult issues, implement changes, and to improve team engagement. Peakon provides suggestions for training and follow-up, in addition to the initial data and team insights.
Initiating organizational culture change. The study also found that, with Peakon, employees feel heard, and managers can identify and address issues quickly. This helps to facilitate a change in established attitudes and behaviors – and ultimately a culture shift.
All interviewees flagged their appreciation of Peakon’s continued platform development. Ongoing updates provide additional benefits and use cases, allow for greater flexibility, and further cost avoidance.
Commenting on the findings, Peakon CEO and co-founder Phil Chambers said: "More companies are partnering with Peakon as they begin to understand the direct and inextricable correlation between strong employee engagement and better business outcomes.
"As this study shows, Peakon customers enjoy benefits that extend far beyond improved employee engagement scores. This includes reduced staff turnover and absenteeism, better customer experience and productivity, and healthier profits as a result."
Chambers adds: "We’ve long since understood the business benefits of making your people the top priority. We believe that this study by Forrester Consulting just proves it further by quantifying the impact Peakon can have on businesses worldwide."
Download THE TOTAL ECONOMIC IMPACT™ OF PEAKON here.
Forrester developed the Total Economic Impact™ of Peakon, commissioned by Peakon, through four enterprise customer interviews at organizations using Peakon to obtain data with respect to costs, benefits, and risks, and subsequent financial analysis. Forrester conducted customer interviews across recruiting, defense, non-profit and media industries.
Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.
About Peakon
Peakon is an employee success platform that converts feedback into insights. It makes the employee conversation quantifiable and actionable to increase employee engagement – not simply measure it. Peakon’s core belief is that work should work for people, and with the largest standardised data set of employee feedback in the world, Peakon provides customised benchmarks and personalised insights to support our mission of helping every employee drive the change they want to see. To date, Peakon has helped organisations like Capgemini, Verizon, Pret, Trustpilot, and easyJet make fundamental changes in how they operate to improve employee experience, driving greater business results.
Jungle Scout’s Global Imports Report reveals international trade stats from 2015-2020, explores potential impact from COVID-19
AUSTIN, Texas, Sept. 14, 2020 — Today, Jungle Scout, the leading all-in-one platform for selling on Amazon, released a new report exploring the fast-changing landscape of global trade to the United States, and revealing the unprecedented drop in annual U.S. imports for 2020.
The 2020 Global Imports Report explores U.S. maritime import data from 2015-2020 from all countries and across all industries, and highlights major shifts in global leaders and how the international trade landscape has shifted during the COVID-19 pandemic.
Key insights include:
U.S. imports are projected to be down 5% for 2020.
Although imports to the U.S. have climbed steadily in past years, total 2020 imports are projected to be down 4.8% year-over-year by the end of 2020.
143 countries had reduced exports to the U.S. between the first half of 2019 to the first half of 2020, with an average drop of 21%.
China recovered from its February and March import drops and has dominated in 2020.
With 41% of the total share of U.S. imports, China maintains a massive lead on all 200+ countries exporting goods to the U.S. China is also the leader for every product category.
China had the most drastic year-over-year reduction in U.S. imports in February and March, but bounced back significantly in April to 40% year-over-year growth. In June, China was the only country to see positive year-over-year growth.
Vietnam has climbed the ranks of biggest suppliers to the U.S., rising from #6 in 2015 to #2 in 2020.
Vietnam’s total exports to the U.S. are up 72% and its share of U.S. imports increased 65% since 2015. For comparison, nearly all other top-10 U.S. suppliers’ shares dropped in the same time period, with the exception of small increases for China, Belgium, and Thailand.
Higher rates of COVID-19 are associated with reduced U.S. imports.
China, Vietnam, and Thailand all saw a stark reduction in COVID-19 cases and related deaths in April, May, and/or June, and were simultaneously among the few countries with positive year-over-year import numbers. Comparatively, in India, when COVID-19 cases began rising in March, India’s U.S. imports dropped drastically, and both trends continued through June.
Countries that recovered early from 2020’s economic disruption were more likely to "bounce back" — and all are in Asia.
During the first half of 2020, only five of 20 countries had net-positive growth over the same period in 2019, and all are in Asia: China, Malaysia, Singapore, Thailand, and Vietnam.
Although Vietnam, Malaysia and Singapore saw year-over-year growth of over 100% in February and March, their increases didn’t offset the massive share of imports lost from China during those months.
"Economic disruption is nothing new for 2020, but some of the effects of the year’s turbulence are only just starting to appear," said Greg Mercer, CEO of Jungle Scout. "American small businesses and enterprises alike depend on imports, so it’s critical to keep a close eye on changes in consumer demand and global supply chains to be able to adapt."
About the 2020 Global Imports Report All data represents United States maritime imports from January 1, 2015, to June 30, 2020 from 237 unique countries. Jungle Scout analyzed more than 63 million maritime U.S. import records, including information on the shipper and shipment, from which country and category are extracted.
About Jungle Scout Jungle Scout is the leading all-in-one platform for selling on Amazon. Founded in 2015 as the first Amazon product research tool, Jungle Scout today features a full suite of best-in-class business management solutions and powerful market intelligence resources to help entrepreneurs and brands manage their ecommerce businesses. Jungle Scout is headquartered in Austin, Texas and supports nine global Amazon marketplaces. Read more at www.junglescout.com.
France top Digital Riser, China gains significantly, USA loses
BERLIN, Sept. 7, 2020 — Digital incumbents increasingly face new and dynamic competitors from around the world. While countries such as USA, Sweden and Singapore are often perceived as digital champions, a new study indicates that they are not necessarily dynamic Digital Risers. Only Singapore has managed to improve its relative position slightly over the last three years. In contrast, the USA and Sweden have actually lost ground over the same period. "We are in the middle of a digital revolution that is very likely being accelerated by the Covid-19 pandemic," says Professor Philip Meissner of the European Center for Digital Competitiveness by ESCP Business School Berlin campus.
ESCP Graph 1: Digital Riser Ranking: Group of 7 (G7)
Within the G7, France was able to advance most in its relative digital competitiveness between 2017 and 2019, which makes the country the top "Digital Riser" in this group; conversely, Italy and Germany decreased most within the G7. This is the result of the Digital Riser Report 2020, devised by the European Center for Digital Competitiveness by ESCP Business School in Berlin. The report analyses and ranks the changes that countries around the globe have seen in their digital competitiveness over the last three years based on data from the Global Competitiveness Report issued by the World Economic Forum (WEF).
The ranking also reveals clear dynamics regarding the two global digital superpowers. It shows that China has gained significantly in digital competitiveness, while the USA has lost out over the same time period.
The top Digital Risers all had one thing in common: they have followed comprehensive, swiftly implemented plans along a long-term vision around digitisation and entrepreneurship. France’s example shows that governments that invest heavily in start-ups and employ lighthouse projects such as La French Tech can greatly increase their country’s digital competitiveness in a short timeframe.
ESCP Business School was founded in 1819. The School has chosen to teach responsible leadership, open to the world and based on European multiculturalism. The School has campuses in Berlin, London, Madrid, Paris, Turin and Warsaw.
(c) ESCP. Graph 2: Digital Riser Ranking: Group of 20 (G20). 1) Turkey is not included due to a lack of data in three out of the five mindset dimensions. 2) EU is not included since it is a collection of countries.
BEIJING, Aug. 28, 2020 — Quanzhou City, located in southeast China’sFujian Province, has rolled out a series of measures to optimize business environment.
Self-service machines at the administration service center in Quangang District of Quanzhou City to provide 24-hour government services for the public
Quanzhou has been committed to attracting investments. It strives to realize a great breakthrough in industrial investment attraction, with the expected investment amount on newly signed industrial chain projects exceeding 55 billion yuan.
Since the beginning of this year, Quanzhou has made all-out efforts to help enterprises relieve difficulties. The city has tried to improve the mechanism to find out enterprises’ needs, established a group of foreign-related lawyers to provide services for enterprises, helped them coordinate the difficulties in employment, meals, materials, financing, sales, tax and fee handling, and issued risk warnings. The reimbursement of unemployment insurance and job stabilization subsidies have been raised from 50 percent to 100 percent.
In the meantime, Quanzhou has tried to optimize the enterprise-related policy implementation mechanism to benefit enterprises. As of the end of July, the city has reduced or exempted a total of 2.045 billion yuan worth of social insurance premiums, provided 4.914 billion yuan of re-lending funding support for 817 enterprises, and reimbursed 276.03 million yuan of unemployment insurance and job stabilization subsidies, which has benefited 2,814 enterprises.
Moreover, Quanzhou strives to improve government services by streamlining administrative approval process in a bid to achieve the goal of "one submission, parallel processing, time-limited settlement and unified delivery."
The municipal administration service center in Quanzhou has set up special offices for "market access, investment and construction, convenience services, and social and people’s livelihood" to provide "one-stop" services for enterprises and the general public.
Quanzhou has built a new model of "Internet + government services." The city has tried to optimize online administrative approval system and launched more than 200 self-service machines to provide 24-hour government services for the public.
1 in 3 Singaporeans would save additional funds as sentiment starts to slowly decline
SINGAPORE, Aug. 19, 2020 — Blis, a trusted leader in location-powered advertising and analytics has today released the Blis consumer confidence pulse, an interactive tracker that captures a quick snapshot of consumer sentiment. The tracker plots how consumers are feeling about their local economy, household finances and spending intent and the survey is running in Singapore, the UK, USA, UAE and Australia.
Based on three highly topical questions around finances the Blis pulse is updated twice monthly to provide a rounded picture of how consumers are reacting to changes in their situation, both personally and on a national scale.
Head of Insights, Alex Wright speaking on the tracker said, "We started this tracker in the wake of the COVID-19 outbreak being declared a pandemic to give us a quick read on consumer sentiment. Armed with the knowledge of what consumers are telling us, we can then plot this against our retail foot traffic and consumer movement data to give a rounded view of progress through crisis, stability and recovery."
Over the past six months, physical movement restrictions have ebbed and flowed in different cities across the country with daily activities requiring new safety measures. As a result, most consumers are behaving differently, with many working from home, avoiding crowded public spaces and communicating virtually. For brands, this tracker provides an opportunity to contextualise other data sources to really understand the concerns of their audience.
For the most part sentiment towards the Singaporean economy has remained remarkably robust, except for a dramatic swing in June. This coincided with Prime Minister Lee’s address to the nation and messaging from several government ministers that the Covid-19 pandemic meant the road to recovery would be a long one. Early July saw the most optimism in both the economy and household finances although we’re beginning to see a decline in sentiment once again. Interestingly, the pessimistic spike in early June led to a surge in intent to spend additional funds on home improvement, as people prepared to settle in for the long haul. Aside from this, Singaporeans have consistently declared their intent to save any spare income.
"2020 has been nothing short of a rollercoaster year. Everyone has been impacted differently and now people are not only concerned about the health crisis, but also the global financial crisis. Since March, we’ve seen brands pivot their operations, strategy and messaging multiple times to meet their consumers’ concerns about safety. Looking ahead, it’s essential for brands to pivot again and remain sensitive to their audience’s financial confidence. The Blis consumer confidence pulse allows brands a quick snapshot of the direction of sentiment," said Fionn Hyndman, Managing Director Asia.
The interactive trackers can be found here and will be updated twice monthly.
Blis is the trusted leader in location-powered advertising and analytics, helping brands understand, reach and engage consumers globally to deliver measurable results. Because location data is the most accurate indicator of ‘real’ behaviour and intent at scale vs any other type of data, Blis uses this data to map real-world consumer behaviours based on where people are and where they’ve been, uncovering the truth about what people actually do.
Blis’ Smart Platform provides unmatched transparency, accuracy and scale. Its three tried and tested proprietary technologies – Smart Pin, Smart Scale and Smart Places – and its new Smart Households technology allow for more effective planning, activation and measurement for marketers and business decision makers alike.
Established in the UK in 2004, Blis now operates in 42 offices across five continents. Working with the world’s largest and most customer-driven companies across all verticals including Unilever, Samsung, McDonald’s, HSBC, Mercedes Benz and Peugeot, as well as every major media agency, Blis reaches over a billion mobile devices a year.
Understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure will be a key challenge
SANTA CLARA, California, July 30, 2020 — Frost & Sullivan’s recent analysis, Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025, finds that because of COVID-19 the proliferation of machine-to-machine (M2M) devices will decrease during 2020. This will have a significant impact on the demand for testing equipment that validates their performance (with the exception of equipment for connected health applications). Frost & Sullivan expects growth to rebound by 2021, with revenue ultimately expanding at a compound annual growth rate (CAGR) of 5.1% to reach $3.25 billion by 2025, up from $2.40 billion in 2019.
"5G development for IoT use cases will continue to be important during the pandemic. Given the complex nature of its deployment, there would be a requirement for software-based testing solutions that can test virtualized 5G network slices as well as test broad frequency spectrums," said Rohan Joy Thomas, Measurement & Instrumentationindustry analyst at Frost & Sullivan. "Going forward, understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure is a key challenge that test and measurement companies need to resolve.
"Of all the IoT applications, test and measurement solutions that are used to test M2M applications in the connected home environment are the most dominant, representing 45.7% of all IoT test applications. As the healthcare sector plays a crucial role in combating COVID-19, test and measurement solutions used for connected health applications will experience the highest CAGR of all applications over the forecast period."
The proliferation of IoT across industries has presented immense growth opportunities for market participants involved in the IoT test and measurement space. Frost & Sullivan recommends that they:
Develop solutions that can test high-speed Ethernet interfaces as well as physical entities.
Provide over-the-air testing solutions that can test sub-6 gigahertz as well as higher millimeter wave applications.
Introduce enhanced software testing capabilities along with artificial intelligence, machine learning, and cybersecurity to enhance the portfolio
Provide solutions that can regulate the consumption of energy from connected devices operating at narrowband frequencies and low energy levels, thereby increasing the device’s longevity.
Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025 is the latest addition to Frost & Sullivan’s Measurement & Instrumentation research and analysis available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025 K48C-30
MILPITAS, California, July 22, 2020 — Global sales of semiconductor manufacturing equipment by original equipment manufacturers are projected to increase six percent to $63.2 billion in 2020 compared to $59.6 billion in 2019 before logging record high revenue of $70 billion in 2021 on the strength of double-digit growth, SEMI announced today in releasing its Mid-Year Total Semiconductor Equipment Forecast – OEM Perspective at the annual SEMICON West exposition.
Growth across a number of semiconductor segments is expected to power the expansion. The wafer fab equipment segment – which includes wafer processing, fab facilities, and mask/reticle equipment – is expected to rise five percent in 2020 followed by 13 percent growth in 2021 driven by a memory spending recovery and investments in leading-edge and China. Foundry and logic spending, accounting for about half of total wafer fab equipment sales, will see single-digit increases in 2020 and 2021. Both DRAM and NAND spending in 2020 will surpass 2019 levels and are projected to grow over 20 percent, respectively, in 2021.
The assembly and packaging equipment segment is forecast to grow 10 percent to $3.2 billion in 2020 and 8 percent to $3.4 billion in 2021 driven by advanced packaging capacity buildup. The semiconductor test equipment market is expected to increase 13 percent, reaching $5.7 billion in 2020, and continue the growth momentum in 2021 on the back of 5G demand.
Regionally, Mainland China, Taiwan and Korea are expected to lead the pack in spending in 2020. Robust spending in Mainland China in the foundry and memory sectors is expected to vault the region to the top in total semiconductor equipment spending in 2020 and 2021. Taiwan equipment spending, after seeing 68 percent growth in 2019, is forecast to contract this year but bounce back with 10 percent growth in 2021, with the region maintaining the second spot in equipment investments. Korea is expected to rank third in semiconductor equipment investments in 2020 by outstripping its 2019 levels, making it the third top spender in 2020. Korea equipment spending is projected to grow 30 percent in 2021 powered by the memory investment recovery. Most other regions tracked will also see growth in 2020 or 2021.
The current SEMI forecast is based on collective input from top equipment suppliers, SEMI’s industry-recognized World Fab Forecast database, and SEMI’s Worldwide Semiconductor Equipment Market Statistics (WWSEMS) data collection program.
The Equipment Market Data Subscription (EMDS) from SEMI provides comprehensive market data for the global semiconductor equipment market. A subscription includes three reports:
Monthly SEMI Billings Report, an early perspective of equipment market trends
Monthly Worldwide Semiconductor Equipment Market Statistics (SEMS), a detailed report of semiconductor equipment bookings and billings for seven regions and more than 22 market segments
Bi-annual Total Semiconductor Equipment Forecast – OEM Perspective, an outlook for the semiconductor equipment market.
For more information online, please visit the EMDS page.
About SEMI
SEMI® connects more than 2,400 member companies and 1.3 million professionals worldwide to advance the technology and business of electronics design and manufacturing. SEMI members are responsible for the innovations in materials, design, equipment, software, devices, and services that enable smarter, faster, more powerful, and more affordable electronic products. Electronic System Design Alliance (ESD Alliance), FlexTech, the Fab Owners Alliance (FOA) and the MEMS & Sensors Industry Group (MSIG) are SEMI Strategic Association Partners, defined communities within SEMI focused on specific technologies. Visit www.semi.org to learn more, contact one of our worldwide offices, and connect with SEMI on LinkedIn and Twitter.
Association Contact
Michael Hall SEMI Email: mhall@semi.org Phone: 1.408.943.7988
Businesses and workers call for greater flexibility, questions raised over the hours-based contract, and a new empathetic leadership profile emerges
ZURICH, June 30, 2020 —
Workers demand greater flexibility after coronavirus, with a 50/50 split of remote and office time confirmed as the universal ideal
Questions raised over the hours-based contract, with 69% saying contracts should be based on results delivered rather than hours worked
Boom in digital skills an unintended consequence of lockdown, with tech knowhow improving for six in 10 (61%), and two thirds (69%) eager for further digital upskilling post-pandemic
Leaders need to reinvent themselves as more emotionally intelligent, but they are not prepared, as less than half felt equipped to support employees holistically during the pandemic
The coronavirus pandemic has resulted in pivotal shifts in attitudes and expectations among workers and leaders, as both call for permanent changes in how and where we work, workplace relationships and future skills, according to new research from the Adecco Group.
The Adecco Group, the world’s leading HR solutions company, today unveiled the results of its latest study, Resetting Normal: Defining the New Era of Work, examining the expected short- and long-term impact of the pandemic on resetting workplace norms. Fieldwork was conducted in May 2020, with 8,000 office-based respondents (aged 18-60) across Australia, France, Germany, Italy, Japan, Spain, the UK and the USA.
The Adecco Group’s Chief Executive Officer, Alain Dehaze, said: “The world of work will never return to the ‘normal’ we knew before the pandemic struck. The sudden and dramatic change in the workplace landscape has accelerated emerging trends such as flexible working, high-EQ leadership, and re-skilling, to the point where they are now fundamental to organisational success. As many countries emerge from the acute crisis phase of the pandemic, employers have an opportunity to ‘hit reset’ on traditional workplace practices – many of which have remained largely unchanged since the industrial revolution. This research highlights that employee attitudes have shifted and gaps between workforce expectations and entrenched labour market processes have been exposed. As we step into the new era of work, now is the time to establish better norms that will enable a holistically healthy, productive and inclusive workforce into the future.”
Key research highlights:
The research revealed that the working world is ready for a new “hybrid” model, with three quarters (74%) of workers surveyed saying a mix of office-based and remote working is the best way forward. The universal ideal of spending half (51%) of their time in the office and half working remotely (49%) transcends geographies, generations and parental status. And company executives agree, with almost eight in ten (77%) C-suite leaders saying businesses will benefit from increased flexibility.
Another stark finding could signal the end of the hours-based contract and 40-hour week. More than two thirds (69%) of workers are in favour of “results-driven work,” whereby contracts are based on delivering against business needs rather than working a set number of hours. A high proportion of C-suite executives (74%) agree that the length of the working week should be revisited.
The pandemic has also demanded a new set of leadership competencies and these expectations are expected to accelerate a reinvention of the modern-day leader. Emotional intelligence has clearly emerged as the defining trait of today’s successful manager, but the soft skills gap is evident. Over a quarter (28%) of those questioned said their mental wellbeing had worsened due to the pandemic, with only 1 in 10 rating their managers highly on their ability to support their emotional health.
In a similar nature to flexible working, the findings demonstrate a universal appetite for mass upskilling. Six in 10 say their digital skills have improved during lockdown, while a further two thirds (69%) are looking for further digital upskilling in the post-pandemic era. A broad range of skills development were identified as important by the workforce, including managing staff remotely (65%), soft skills (63%) and creative thinking (55%).
Finally, the findings highlighted the importance of sustaining trust in the new working world. Companies have risen to the challenge of supporting their people during the crisis, and as a result, trust in corporations has increased. In fact, 88% say that their employer met or exceeded their expectations in adapting to the challenges of the pandemic. And with this increased trust comes increased expectations. While the future of work is a collective responsibility, 80% of employees believe their employer is responsible for ensuring a better working world post-COVID and resetting norms, compared with 73% who say the government is responsible, 72% who agree it is an individual responsibility, and 63% who believe it is in the hands of labour unions.
For more information:
Download the Resetting Normal: Defining the New Era of Work full report here.
Follow us on social #ResetNormal for updates
About the Adecco Group
The Adecco Group is the world’s leading HR solutions company. We believe in making the future work for everyone, and every day enable more than 3.5 million careers. We skill, develop, and hire talent in 60 countries, enabling organisations to embrace the future of work. As a Fortune Global 500 company, we lead by example, creating shared value that fuels economies and builds better societies. Our culture of inclusivity, entrepreneurship and teamwork empowers our 35,000 employees and we are proud to have been consistently ranked one of the ‘World’s Best Workplaces’ by Great Place to Work®. The Adecco Group AG is headquartered in Zurich, Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN) and powered by nine global brands: Adecco, Adia, Badenoch & Clark, General Assembly, Lee Hecht Harrison, Modis, Pontoon, Spring Professional and Vettery.
