How to future-proof your organisation in times of economic uncertainty

Organisations are navigating an increasingly complex and uncertain world. Economic volatility, coupled with ongoing geopolitical conflicts and climate change, means how we work is changing dramatically. Yet, there is good news: the best businesses thrive in times of economic uncertainty. A report from WTW – a British-American company that provides data-driven, insight-led solutions in the areas of people, risk and capital – delivers valuable insight into how to future-proof your organisation so it can thrive during challenging times. In the whitepaper, Employee experience in an age of disruption, WTW has tracked the opinions of employees at leading companies that have a history of being effective at change and transformation, particularly during times of disruption. WTW calls these employees ‘EX Change Masters’, and it has not only collected more than ten years of data and observations, but also compared it to the opinions of employees who work at companies struggling to change and transform. WTW calls these ‘Disrupted Organisations’.By comparing EX Change Masters with Disrupted Organisations, WTW has built its recommendations for future-proofing the employee experience. “Change Masters are experts at change,” says Stephen Young, managing director, employee experience at WTW. “From growth to wellbeing, and security to financial performance, they significantly outperform Disrupted Organisations. Over a decade, we’ve established a clear picture of what it takes to become a Change Master, because they have a unique DNA that helps them to thrive under any circumstances.” Becoming a Change MasterIt is critical to invest in your workforce. Not only in terms of pay and benefits, but also in ensuring employee wellbeing, and that career and development opportunities are clear and encouraged. Looking after your staff is a surefire way to create a vibrant, successful workforce and Change Masters are excellent at this. "Investing in and building a culture of wellbeing, diversity, equity and inclusion not only benefits business performance, it also builds organisational resilience in navigating uncertainty,” says Amol Mhatre, managing director, and global head of research and innovation for health, wealth & career, WTW. “Change Masters do this by building their employees’ trust, giving voice to their employees and designing and offering total rewards programs that enable security, growth and wellbeing."We’ve all talked a good game when it comes to communicating, but Change Masters don’t just talk the talk, they walk the walk when it comes to clearly setting out their mission and strategy. All employees should understand how their role contributes to the success of the business, which is only possible with a clear roadmap that outlines the short- and long-term objectives. That way, all employees are aligned towards common goals, and feel part of the organisation’s success. “Giving employees a sense of purpose is crucial to business success, as it allows them to understand how their actions contribute to the greater good of the organisation. Change Masters excel at this,” says Young. “They also excel at empowering employees to take ownership of their roles and not to be afraid of making decisions.” An empowered workforce creates a healthy culture of critical thinking, which means your business is set up to challenge the status quo, and shape the market by predicting the future. Come rain or shine Future-proofing isn’t only about successfully pivoting during downturns, it is about having a work and employee culture that means your business is predictive rather than reactive. There will be a time, hopefully not too far away, when we will be talking about economic upturns and, unsurprisingly, Change Masters also thrive when the sun shines. A motivated, empowered workforce maximises performance and enhances resilience in good times and bad, and WTW has two innovative products that help companies get the most out of their staff: Embark, an employee experience platform, and Engage, its employee engagement platform. Investing in employee experience retains and attracts talent, improves company culture and boosts productivity. Simply, it future-proofs your organisation and sets it down the road to long-term success. WTW’s ‘Employee experience in an age of disruption’ whitepaper delivers breakthrough research on future-proofing your organisation, and how to successfully navigate rough waters. You can read it in full here.

How to future-proof your organisation in times of economic uncertainty

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