A new report on Workplace Strategy finds that Innovators are helping clients confront issues around productivity, employee wellbeing, and their real estate footprint and are incorporating a human-focused workplace strategy approach to drive productivity and business growth
NEW YORK, Jan. 31, 2024 /PRNewswire-PRWeb/ -- A new report from Law.com Compass Pacesetter Research (previously known as ALM Intelligence Pacesetter Research) finds that professional service providers and their clients have realized, through the pandemic, that alternative ways of working (hybrid, remote) are possible, and can lead to an improved employee experience, as well as play a tangible role in enhancing growth strategy. However, the slow economy and pressure to increase productivity and overall business growth have created a real challenge for business leaders as they struggle to effectively implement a workplace strategy that delivers business impact while managing employee expectations.
Consequently, the service emphasis among Innovators in professional services prioritizes the human element to drive change, improve productivity, optimize real estate footprint, and overall long-term business growth. This grounding of employee-focused change management and business transformation has favored those service providers best able to align an effective workplace strategy framework with the overall business strategy to deliver long-term value.
"The pandemic caused a fundamental change in how we work, and organizations struggle to find the best approach to support new models," said Ruth Sierra, Analyst, Law.com Compass Pacesetter Research. "Today's Innovators are those professional services providers who help clients develop a strategic, comprehensive workplace strategy approach that aims to reimagine work and deliver long-term business impact."
Key trends identified in this research include:
- The pandemic revealed the feasibility of adopting different workplace models, and with the world currently operating in a post-pandemic era, organizations are struggling with the best workplace strategy approach that will meet employee expectations and deliver long-term business impact
- Innovators who continue to prioritize the employee experience as a key component to a successful workplace strategy are increasingly using emerging technologies (e.g., AI) to collect data about employees' experiences (i.e., health, family situations, living conditions, mental health, etc.), to better understand how to develop a culture and work experience that promotes employee engagement and well-being to maximize retention and productivity and, in turn, drive business results
- While most organizations need help with implementing a workplace strategy, Innovators are able to help clients take a strategic, comprehensive approach that reaccess all areas related to workplace strategy (i.e., productivity, cost, real estate footprint, tax, risk profile, etc.)
- The optimization and integration of people, space, and technology to support organizational goals requires professional service providers to embed change management capabilities into the workplace strategy framework to ensure that any changes are successfully implemented and sustainable to meet business goals
- Workplace strategy has traditionally been under the CHRO's domain; however, with the increased attention to the human dimension and its impact on technology, culture, and productivity, CHROs are now more likely to work in collaboration with cross-functions to ensure alignment in the workplace strategy approach - - it has also become a C-suite level priority
The Pacesetter Advisory Council assessed dozens of providers to arrive at nineteen Innovators recognized for their ability to help clients navigate an increasingly complex market environment. The research and analysis also provide insights into the competitive dynamics and service delivery trends driving convergence across legal, management consulting, multi-service, and real estate advisory.
In this report, Law.com Compass Pacesetter Research evaluates the innovation in Workplace Strategy capabilities and offerings of the following providers: Baker McKenzie, Boston Consulting Group, Capgemini, Colliers, Cresa, Deloitte, Eagle Hill Consulting, EY, FisherBroyles, Husch Blackwell, KPMG, Littler Mendelson, Mercer, Newmark, North Highland, PwC, Q5 Partners, Redgrave LLP, Seyfarth Shaw
Law.com Compass Pacesetter Research provides independent, objective research to providers and buyers of professional services and practical insights that inform decision-making processes.
To learn more about the research or to obtain the full version of the Workplace Strategy 2024 report, go to: http://www.law.com/lawcom-compass/pacesetter-research.
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