Unit4 has revealed the people and HR-related findings of its second annual Business Future Index.
Having surveyed 3,450 respondents across 12 global markets to understand how much people, policy, and technology changes have accelerated over the past 12 months, the Index revealed significant concerns with flexible working strategies despite a dramatic acceleration in its adoption.
With competition for talent growing, there is a danger that failure to improve working policies and implement the right tools could result in more employees choosing those employers who offer a more flexible approach.
The key findings of the survey found that 76 percent of respondents say flexible working policies need improvement and 62 percent agree the tools to support flexible working are not adequate, whereas only 18 percent of respondents experience a flexible working policy without restrictions. 39 percent of organizations have seen people leave their business for more flexibility elsewhere over the past year.
62 percent of organizations revealed that attracting and retaining talent is the biggest priority over the next 12 months, however, only a quarter of respondents say diversity is a planning focus for the coming year.
Tania Garrett, chief people officer, Unit4, said: “Given the need to attract a broad spectrum of talent into organizations from different demographic groups to meet demand for skills, the Business Future Index shows businesses must make diversity a higher priority. Along with investing more in reskilling their existing workforce to help meet future requirements, the Index clearly shows there is a close correlation between investment in innovative technologies and a positive impact on recruitment and retention.”