Study: 71% of organizations are undertaking workforce transformations

In the latest Fortune/Deloitte CEO Survey, 110 leading CEOs from more than 15 industries revealed what their goals were in the coming year.

Primarily, CEOs were focused on preparing or continuing their digital transformation at work and the majority of them had intentions to spend time on workforce and talent transformation. 71% of CEOs are looking towards a workforce and talent transformation, which isn’t too surprising considering 77% of CEOs say they expect their organization’s growth to be strong over the next 12 months.

With an increased emphasis on employee learning, upskilling, hiring and benefits amidst staff shortages, it’s unsurprising that CEOs are so focused on workplace transformation, particularly as discussions about hybrid working are taking place.

On the back of the report, Joseph B. Ucuzoglu CEO of Deloitte US stated: “All things tech and talent will dominate the CEO agenda throughout 2021 and beyond.”

Moreover, McKinsey and Company spoke to 70 Chief Human Resource Officers (CHROs) at some of Europe’s largest organizations. The study found that 64% of them said that they need a new data approach to bridge the gap between internal insights and market data to make informed HR decisions. Additionally, 90% of CHROs wanted to interact with staff more directly about their needs.

On top of that, 98% of CHROs want to address employee experience in a more targeted, dynamic way and get a broader view of diversity, equity, and inclusion (D,E&I). To do this, businesses will undoubtedly need data and employee insights.

The thought of any transformation can strike fear into the heart of even the boldest CHRO or CEO. But they should look to tech tools, which will help these plans succeed.

Workforce transformation and technology

HR tech companies like Gloat have suggested that companies lack the data to make meaningful progress in terms of employee experience and technology.

The talent marketplace provider believes that human capital management, performance management, talent acquisition, learning and development, and talent mobility are separated by different systems and departments.

These siloes create a lack of visibility into the scale of HR-related problems.

In response to these issues, Gloat has developed its own Workforce Engine. The product collects data from multiple sources on employee skills and the job market in an effort to harmonize information.

It is then able to layer in additional models to inform job architecture management, job design, and skill management and therefore provide predictive insights to keep business leaders a step ahead in their workplace planning.

Speaking about the Workforce Engine, Ben Reuveni, Gloat CEO, said “We believe organizations can do anything and achieve anything with the right information, and we’re now equipping them with the tools they need to optimize their workforce for business growth by combining workforce and talent data for action.”

Whether CEOs will embrace this type of tool remains to be seen, but it is clear that digital workplace transformations that require data insights will be a focus in the coming year.