Q2 Newsletter: Flexibility is the Competitive Edge in 2022
In Q1, WEC hosted two events focused on Flexible Work Arrangements (FWAs) and Work-life Balance where productive discussions and valuable cross-sharing took place. To further reflect on these learnings and provide global insights, this issue's Thought Leadership section dives deeper into research on the Future of Work.
Thought Leadership
The world of work has transformed in the last two years. Individuals and organizations experienced dramatic changes due to the COVID-19 pandemic that have impacted people’s priorities, expectations, aspirations, and relationship to work. Among these changes, a silver lining has been the shift from flexible work arrangements (FWAs) being a nice-to-have to a business essential.
The benefits of flexibility to both employer and employee are undeniable. In this issue, we highlight key trends related to FWAs that are likely to impact the years ahead:
1. Culture Trumps Policy
In 2022 and beyond, companies that recognize workplace flexibility as a new era, as opposed to a temporary blip before a return to normalcy, will win the competition for talent. Why? Because the highest priority for jobseekers in 2022 is work-life balance, outweighing even compensation and benefits.
2. Flexibility Empowers Employees
67% of workers feel more empowered to take advantage of FWAs, up from 26% before the pandemic. Moreover, LinkedIn data reveals that employees are 2.1 times more likely to recommend their employer if they have work location and schedule flexibility.
3. DEI Considerations
Equity, fairness, and inclusion are a top priority to leaders. Since 2018, CEOs of S&P 500 companies speak about these topics 658 percent more frequently on earnings calls. Leaders must manage the potential impact of FWAs on DEI goals by addressing inequities and biases that can arise in a flexible workplace.
4. Evolving Role of a Manager
In a hybrid world, the role of a manager is increasingly important. Managers are primarily responsible for representing the company’s values, building connections with and between team members, and fielding any issues or concerns. Moreover, research shows that up to 65% of managerial tasks may be automated by 2025.
Women Empowerment Awards in China Extended Deadline is TOMORROW!
Merck & SCHSAsia Launched the Healthy Women, Healthy Economies China Report
Girls in STEMM Students visited ConocoPhillips & Henkel
Upcoming Q1 Events: Women Leadership Roundtable in Beijing, ExxonMobil & FedEx Member-hosted Webinar, and Quarterly Executive Meeting
The Women Empowerment Council (WEC) is an engaged network of leaders and decision-makers that aims to advance gender equality in businesses in China and beyond.