The future of work? more human

In its new study, Bain & Company analyzes the motivations of employees in a world of work in full transformation and the winning approaches of companies to respond to them.

The world of work will never be the same again. The Covid-19 pandemic is accelerating changes that have been in the works for a long time. New study by Bain & Company titled "The future of Work" shows that 58% of employees in 10 major countries around the world have had to rethink the balance between their work and their personal life in the last 20 months.

The report outlines the five shifts that are reshaping work and identifies the actions companies need to take to gain an edge in the war for talent. The report is based on a survey conducted by Bain & Company and Dynata of 20,000 employees, supplemented by more than 100 in-depth interviews. The 10 countries in the scope (United States, China, Germany, France, Italy, Japan, India, Indonesia, Nigeria and Brazil) represent approximately 65% ​​of global GDP and offer a wide panorama of cultures present throughout the world.

"Relationships between companies and employees have long been based on a transactional vision of a world that offered few alternatives to employees," says John Hazan, partner at Bain & Company, responsible for the Talent Solution in Europe. "Today, the context has radically changed and requires companies to rethink their reasons for being and their ways of doing things. To do this, they must understand how employee expectations have evolved."

Bain & Company outlines the five mutations that are reshaping work.

1. The emergence of new expectations

Over the past 150 years, the improvement in our standard of living has enabled us to spend less and less time working and to expect more of what work has to offer. Even if remuneration remains a priority for most employees, they are only 1 out of 5 to consider it today as the first factor of motivation at work.

The interest of the profession, flexibility and job security are now among the major priorities. The report shows in particular how the decline in religious and community practices has impacted motivations to work.

New generations now expect their work to contribute both to social ties and to the feeling of pursuing a higher goal. Far from the idle classes of bygone times, the working days of the upper classes of contemporary society are among the longest; whereas, on the contrary, the number of hours worked by the most modest employees is the lowest. Because, very often, they cannot obtain the stable full-time employment which they wish.

2. Several possible definitions of a “good job”

Bain Company identifies six archetypes of employees with different priorities:

"operators" (who mainly place their search for meaning and their self-esteem outside of work), "givers" (who find meaning in their work in the improvement that they make it possible to bring to the lives of others), the "artisans" (who are looking for work that fascinates or inspires them and are motivated by the improvement of their expertise), the "explorers" (who value freedom and experiences, and seek a varied and exciting career), "achievers" (who are driven by a strong desire to do something with their lives, are driven by career success, and value status and compensation), and “pioneers” (who are on a mission to change the world). For example, in France, the "pioneers" represent 7% of the active population, quite close to the situation in the USA (9%) or in Germany and Italy (8%).

On the other hand, they are 19% in India and 23% in Nigeria. None of the archetypes is better or worse than another; everyone contributes to the smooth running of the company. This study underscores the need for leaders to recognize that their personal view of what feels like a “good job” is not necessarily shared by everyone in the company, especially frontline employees.

3. Valuing human skills

Automation encourages putting typically human skills back at the heart of ways of operating. The advantages of business women and men over machines (such as problem solving, interpersonal skills and creativity) are growing in importance as automation eliminates repetitive tasks. In advanced economies, Bain & Company expects to see the composition of professions evolve towards more "people skills". This development will require retraining a large part of the workforce.

4. Business boundaries are compartmentalized

The pandemic has accelerated the development of remote work and the “gig economy” and further opens the frontiers of business. In an environment where physical interactions are no longer a daily occurrence, many societies are faced with the challenge of reinventing the affectio societatis. Companies that achieve this through their creativity and innovation will gain a significant competitive advantage.

5. The trouble of young people in the face of uncertainty

Younger employees, especially in advanced economies, are under increasing psychological pressure which affects their working lives. Financial problems, job instability and difficulties in achieving their career goals are the major concerns of more than 60% of under 35s (compared to only 40% of over 35s). The probability of accession to a higher social class is increasingly low. Moreover, it has reached its lowest level since the middle of the 20th century.

Faced with these developments, Bain & Company identifies three priorities for companies:

Become "talent makers" rather than simply effective recruiters ("talent takers"). As companies face a talent shortage, some are finding ways to unleash the potential of their employees. Indeed, they imagine non-linear and original career paths (whose culmination is not necessarily a management position), and develop everyone's employability.

No longer consider employees as machines and develop “human skills”. The company supports employees to develop their personal abilities and give meaning to their careers. The organization of work can be redesigned to allow the women and men who make it up to make the best use of their "human skills".

Build an organization that gives a sense of belonging and allows everyone to be themselves while sharing a base of shared vision and common values.

“Increasing competition to attract and retain talent has put the future of work in the spotlight of business leaders. Today, more than ever, it is time to focus on the human aspect of work. Large companies will thus be able to attract, develop and retain their vital forces, driving their future success,” said James Root, partner at Bain & Company and co-president of Bain Futures.