The Future Workplace Depends on Efficiency, Effectiveness, and Balance

Many leadership teams are grappling with how to build and sustain the requisite talent foundation to grow their businesses as the world emerges from the pandemic. Unprecedented high levels of professional mobility in the workforce driven by a fundamental reassessment of priorities and expanding opportunities to work from anywhere present a new strategic challenge. Companies that fail to adjust their workforce policies to reflect these emerging realities are likely to underperform those that do. To be successful, companies must strike the right balance between driving for efficiency and achieving effectiveness while also supporting employees to balance work and life in meaningful ways. Efficiency measures tend to focus on reducing office space, commuting, travel, and entertainment activities. Effectiveness is about executing on existing goals and innovating in products, services, and business models. Quality of life refers to ensuring that employees have the resources and support needed for work-life balance.