Predicting the future of work has become a favorite pastime for many people, and 2015 has certainly seen its share of such conversations. More important, it’s experienced a significant amount of change – one of constant evolution and revolution. Very quickly, the workforce is redefining what constitutes a productive worker and a great place to work. Whether employees are seeking an improved work/life balance, continuous education, the ability to work on their own terms, or anything else, businesses better be prepared to support those needs, especially if they want to retain the best people before competitors steal them away.
For the most part, companies have answered each of their workforce needs. However, the result is still a complex, disjointed web of multiple social collaboration technologies from a variety of vendors. Because these tools and solutions vary across departments and geographies and are typically not integrated with back-end human capital management (HCM) solutions, employees, and business leaders are relying on e-mail for collaboration and losing productive time searching for information and waiting for responses. Not only are vital corporate information, data, and expertise siloed, but it is also very tough to access and share across the organization and business network for maximum business impact.
It doesn’t have to be this way. Although the future of work is constantly evolving, it is possible to create a flexible, connected, and simple foundation for social collaboration. Give your employees the daily work experiences they crave while enabling the business to operate competitively in an increasingly digital economy. Take a moment to dream how your company can operate better through social collaboration.
What does a 14% increase in productivity mean for your business? Possibly more than $7 million in combined savings and increased revenue!
According to the March 2015 commissioned study conducted by Forrester Consulting on behalf of SAP, titled “The Total Economic Impact™ of SAP Jam,” widespread use of social collaboration decreases the number of hours spent each week e-mailing, searching for information, and awaiting responses. With immediate access to relevant and insightful information no matter where they are, employees are better equipped to make quick decisions and deliver outcomes that help the business grow.
Social collaboration empowers employees to engage in a community that provides easier access to expertise and information, work together on onboarding activities, and receive support from subject-
matter experts in other lines of business. By fostering an environment of continuous and shared learning, every worker can get the answers they need to perform their job well – even if it is their first day.
Take SyncHRony Global (formerly known as Shore Solutions), for example. Operating several contact centers in the Philippines for clients around the world, the Manila-based business has a very aggressive expansion plan. To nearly quadruple its workforce over five years, Shore needed to hire and onboard up to 100 new hires each week. Even though onboarding is typically an expensive budget line item, Shore was able to keep costs down while getting new team members trained and producing quickly – typically within two weeks of being hired.
According to the Forrester Consulting study cited above, it was revealed that social collaboration yielded benefits upward of $19.5 million over three years for a composite organization. If you break down that figure, businesses stand to gain more than $1,426 for each user annually while achieving 100% return on the initial investment in the platform within six months.
Such savings bring new opportunities for reinvesting in the entire workforce. Will you support better skills development of your existing talent? Will you deliver more enticing compensation and benefits packages for the talent you want and need? Or will you power an infrastructure that allows employees to work anytime and anywhere? The choice is yours – especially if social collaboration is fueling the future of your workforce.
Sold on the need to create a continuous and collaborative learning culture in your organization? Learn how in our complimentary on-demand webinar, “516% ROI for Social Learning.”