Ceridian, a global human capital management technology company, released its Future of Work report for 2021, examining the strategies and priorities that shape future work among global executives.
Ceridian found the majority of executives across the world intend to expand the size of their teams, with the main driver being the demand for services. 71% of businesses say they will hire remote employees in the next two years, and 63% are open to hiring outside their country. 56% of companies see their total workforce utilising remote or hybrid work vs. 38% who see their workforce being all in the office.
This 56% consists of 27% planning to utilise remote work post-pandemic, and 29% planning a hybrid model alternating between a physical location and remote work.
35% of companies plan to leverage gig workers over the next 12 months, but the situation changes as they look to five years out; here, the majority of companies - 62% - state gig workers will substantially replace full-time employees within five years from now.
Stephen Moore, head of the Asia Pacific and Japan, Ceridian, said, "with international borders closed for the foreseeable future, the talent scarcity void in Australia continues to grow. Our research suggests the majority of businesses consider this a critical issue and one requiring a new way of operating. Talent attraction and retention in the next 12 months will define business success. Looking ahead, Australian business leaders will need to embrace flexible, on-demand workforces to fill the talent gap, and attract today’s fluid and digital-first employees. The best way of doing this is to differentiate based on intelligent human capital technology that allows employees to self-manage work schedules and lifestyle balance.”
The appetite for artificial intelligence (AI) tools for recruiting and talent management is rising, with 42% saying they already use these tools and 46% planning on using them.
“The future of work has arrived, and while there is no one-size-fits-all approach to how employers should navigate our new workplace reality, the power of AI and technology has never been more relevant nor necessary. Our latest research has revealed decision-makers across Australia and New Zealand are thinking ahead when it comes to recognising the role AI will play in shaping and supporting their workforce. There is, however, a clear gap between what Australian leaders think about Human Capital Management solutions, and the number that currently has a solution in place. Ceridian’s Future of Work survey has found nearly one in five currently do not have the basic workforce management technology in place to support workplace reform. As our business world continues to evolve, successful companies will be those who apply innovative technology to enable a fluid, borderless and digital-first workforce,” Moore said.
Ceridian’s Future of Work report was conducted by Hanover Research and surveyed 2,000 senior leaders globally at the Director level or higher. The research has a 95% confidence level and a margin of error between ±5.21% and ±9.11%.