The nature of work has been impacted by technological changes, demographic, social shifts and green transitioning. As companies navigate these trends and take stock of lessons learned, there is a mounting urgency to redesign their people processes and work practices to create a new vision for the future of work
Consequentially, retaining and attracting the right talent is becoming more important and more difficult, with the social contract between employer and employee changing and the world becoming more borderless.
Our Global Talent Trends show relatable organizations are coming off mute on what they stand for and setting ‘good work’ standards that reflect the values of all their stakeholders.
In collaboration with the World Economic Forum (WEF), The Good Work Framework: A new business agenda for the future of work shares insights into a framework to enable good work that includes five pillars with associated goals to address people issues arising from the trends.
The Good Work Alliance website is an additional resource for standardized metrics and target setting guidelines that organizations can use to make, track and report on the progress of their Good Work journey.
The website features the thirty-two metrics linked to the Good Work Goals and defines each metric to standardize the interpretation thereof. It also features guidelines around how organizations should set targets, determine materiality, and report on their progress related to Good Work. These pieces of information are aimed at equipping organizations to successfully attract and retain the right talent they need.
— 2022 Global Talent Trends Study
Source: World Economic Forum, 2022
Five key issues have emerged that need to be addressed to ensure better work for workers and employers alike: (1) volatility in wages and the cost of living; (2) divergence on the demand for flexibility; (3) silent pandemic in well-being; (4) an erosion of diversity, equity and inclusion (DEI) gains; (5) and the need for a reskilling revolution.
Forward-thinking organizations are reinventing themselves under the new shape of work as responsible, innovative employers making proactive commitments to such goals with corresponding measures that show meaningful progress. Now is the time to raise the bar to be more relevant by making good work a reality when transforming, leading to positive outcomes for both business and society.
Learn more about Setting up Good Work Standards.