Featuring the latest trends and pathways for productive employee experiences, business agility, and a flexible workforce Embracing the new era of productivity in the face of economic uncertainty Think BIG 2 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty Our Think Big series of ebooks highlights critical issues of the day and offers key insights and recommendations from ServiceNow thought leaders. INTRODUCTION Whether transforming your business for today’s economy or leveraging automation so teams can do more with less, productivity is paramount to supercharging innovation. In what ways can companies in all industries address structural and timing challenges to adapt new models for employee experience? Gone are the days when HR was simply responsible for processing payroll and benefits. In this modern era, organizations rely on sophisticated people strategies to drive continuous value for their business. With the correct best practices and powerful digital solutions, focusing on workforce productivity and agility can become a competitive advantage in today’s uncertain times. In fact, instability can be just the catalyst you need for change. This is the perfect opportunity to reinvent the way organizations work and find faster ways to drive productivity and profitability. It is time to think big about the future of your workforce. 3 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty FEATURED INSIGHTS The path to productivity and agility Creating maximal flexibility for your employees and organization 4 Reevaluating the workplace for maximum productivity and personalization 5 Upskill and future-proof your workforce 6 Investing in workflows for better employee experiences 8 Final thoughts on employee mobility in the new world of work... 10 4 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty FROM SERVICENOW BRANDVOICE Creating maximal flexibility for your employees and organization Jacqui Canney Chief People Officer, ServiceNow We have a once-in-a-generation opportunity to change work forever. The pandemic taught us that not only is remote work feasible, but, from broader talent pools to organizational resilience, there may be long-term benefits to letting talent choose how and where they work. The next phases will be driven by human experience—which should be at the center of every decision, from your recruitment strategy to your tech design. Companies that have seen the benefits of digital transformation are not backing off these investments. Instead, they are focused on increasing the efficiency and productivity of their operations to help them thrive in tough times. Maximal flexibility is no longer a benefit but an expectation. Keep reading to explore insights on how to modernize the employee experience by reevaluating the workplace, upskilling your workforce, and investing in technology workflows. Jacqui Canney 5 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty First, let’s take a look into the new workplace—working anytime from anywhere. FROM SERVICENOW WORKFLOW Reevaluating the workplace for maximum productivity and personalization Across the business landscape, there has been a widespread reevaluation of where and how people work. According to Accenture research, companies are reimagining the space where they work together: the office.1 And there’s even more consideration into a four-day work week. Business leaders are recognizing a simple fact: To entice employees back to the office will take more than coercion. The physical office will need to give them a reason—and the inspiration—to come in. With 77% of global companies planning to redesign their offices, according to a survey by B2B research firm Sapio.2 The new flexible and agile workspace needs to sustain both work and life—and it starts with an unforgettable employee experience. This gives on-site and remote workers access to the info they need to be engaged and productive. Read article one and article two in Workflow from ServiceNow 6 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty Now let’s explore how business leaders will need to reach beyond traditional tech talent to recruit and train people from a broader spectrum of backgrounds. FROM SERVICENOW WORKFLOW Upskill and future-proof your workforce Automation technologies will disrupt global labor markets. Workers in every industry will be impacted, as some job skills are automated while others are augmented via technologies that make workers more productive. To compensate, business leaders must fundamentally rethink who and how they hire and help existing employees get things done, learn new skills, and grow into new roles. Find more talent close to home As AI and automation transform the workplace, companies worldwide are looking at a tech talent gap that could cost them $6.5 trillion by 2025, according to IDC.3 By reskilling workers and placing them in higher-value roles, companies can close the talent gap and position themselves for success in a world defined by human/AI partnership. As innovation accelerates, organizations around the world will need more, not fewer, tech workers to design, build, and maintain the systems needed to fully deploy emerging technologies. more productive—that’s what Gallup found about employees who are engaged vs. not engaged 21% Source: Gallup, [“2023 guide to keep and engage your employees,” February 2023] 7 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty A happier…and more productive employee Dr. Amantha Imber, organizational psychologist and founder of behavioral science consultancy Inventium, says: “Focused work is the currency of knowledge workers; but we’re operating in an environment of distraction, contributing to more shallow, less cognitively demanding work. Leading companies recognize that undertaking deep work in the age of digital distraction is a valuable skill that can be taught—and they’re teaching it.” The tough times ahead give leaders an opportunity to make work better. Investing in AI “machine mates” and automation will remove shallow work from employees’ to-do lists, freeing up time for deep work and innovation. This promises productivity gains that will keep firms competitive and insulate against other cost-cutting measures. Read article one and article two in Workflow from ServiceNow 8 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty more profitable—organizations that invest in the employee experience vs. organizations that don’t 4X Source: Forbes, [“Top Ways Businesses Can Invest In Their Employees,” June, 2018] Our final piece highlights how investing in the right technology will fuel exceptional employee experiences. FROM WORKFLOW QUARTERLY MAGAZINE Investing in workflows for better employee experiences Automation is playing a key role in driving efficiency and engagement for many organizations. By automating routine tasks and predicting what people need, teams are allowed to focus on high-impact work. Boost efficiency and productivity HR leaders need to show the value of technology investments to improve productivity and efficiency across the workforce, especially in times of economic uncertainty. Although employees spend hours attending meetings and answering emails, many feel like they are not accomplishing anything. Even if they are productive, they are not necessarily efficient. With digital solutions that automate tasks and insights, leaders can predict what their people need and streamline the employee experience without spending a fortune upgrading or buying new systems. They can simply connect their existing systems to one platform for an improved experience. 9 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty Integrate HR and digital technology teams Business leaders want to know what kind of value they are getting from their technology investments. They also want to improve productivity and efficiency across the workforce. According to a new ServiceNow-sponsored IDC survey, although more than 40% of employees said they were concerned about the impact of automation on their jobs, the wide-ranging survey revealed that almost all employees recognized benefits related to their own roles as well as their companies.4 The survey distinguished between tactical and strategic automation. While tactical automation is defined as one-off steps that are scattered throughout an organization, strategic automation relates to larger, enterprisewide automation strategies that empower employees, increase long-term firm value, and help companies respond to challenges more quickly. Used in this way, automation can help address issues such as low productivity, high job attrition, and skill shortages. Read article one and article two from Workflow and the Workflow Quarterly magazine, presented by ServiceNow. believe their job is meaningful and fulfilling 64% Source: IDC Future Workforce Insights, “Why Strategic Automation Empowers Employees,” September 2022 Strategic automation can create a virtuous cycle of benefits believe their job is challenging and rewarding 66% cite productivity as a top impact of automation 37% 10 | Think BIG: Embracing the new era of productivity in the face of economic uncertainty Final thoughts on employee mobility in the new world of work... Whether employees are working from home, on-site, or on the road, keeping them engaged and productive has never been more important. By enabling more efficient work, organizations can foster innovation while helping people do the work they enjoy. By adopting a modern and robust digital solution for better employee experiences, companies can: • Be smarter and more agile, hiring the right people based on the skills they have versus their degrees or job history • Identify high-potential employees based on insights and understanding who has which skills, not on anecdotes.