82% of Employees Expected to Return to the Office in 12-18 Months, Xerox Future of Work Survey Reveals
A new global business survey commissioned by Xerox Holdings Corporation (NYSE:XRX) shows an estimated 82% of the workforce in respondents’ organizations will have returned to the workplace in 12-18 months’ time, on average. In preparation for a return, companies are investing in new resources to support a hybrid remote / in-office workforce, with 56% increasing technology budgets and 34% planning to speed their digital transformation as a result of COVID-19.
The Xerox Future of Work Survey, conducted by the independent research firm Vanson Bourne, polled 600 IT decision makers including senior C-level professionals from the U.S., Canada, the U.K., Germany and France, whose organizations have at least 500 employees. Respondents reported challenges caused by the sudden transition to remote work, with 72% citing they were not fully prepared from a technology perspective. In addition to technology (29%), the biggest pain points during the required work from home period were communication breakdown across teams/employees (26%) and maintaining focus (25%).
“While there is no doubt the COVID-19 pandemic has changed the way we work, our research found that over time many companies plan to have most employees back in an office environment. This could be for a variety of reasons, including communication, speed of decision-making and talent development,” said Steve Bandrowczak, Xerox president and chief operations officer. “At the same time, the sudden shutdown and ongoing hybrid work environment has exposed technology gaps that require new or additional investment in the coming months.”
Key survey findings and Xerox takeaways include:
Businesses plan to return most employees to the office, though expanded remote work policies are here to stay.
Prior to work from home requirements being imposed, 33% of respondents said network/data security and privacy was their biggest concern with a remote workforce; 24% cited employee productivity followed by 16% citing technology infrastructure. These concerns, coupled with the belief held by 95% of respondents that in-person communication is important for personal development and assessing talent, indicate widespread remote work will not replace more traditional workspaces.
However, now that businesses are more comfortable with remote work, attitudes and policies of C-suite leaders and IT decision makers are shifting. Among the countries polled, the U.S. is the most likely to have an increase in confidence in remote working (86%), followed by the U.K. (80%), Germany (80%), Canada (77%), and France (75%). Furthermore, 58% plan to change their work from home policy within the next year, highlighting the need for companies to support a hybrid workforce.
Our takeaway: Employees may not be going back to the office all at once — or even in the same capacity as before — but the need for organizations to support a hybrid workforce is here for the foreseeable future.
Sudden stay-at-home orders quickly revealed technology gaps.
The rapid transition to remote work was difficult for most businesses, with only 28% saying they were fully prepared and 29% citing technology as their biggest pain point. Among the specific countries polled, France was the least likely to be fully prepared for the sudden transition to remote work, while the U.S. was the most likely to be fully prepared. With regards to technology specifically, respondents said their top challenges were remote IT support (35%), inadequate workflow solutions (27%), lack of communications and collaboration tools (22%) and lack of cloud-based solutions (10%). 85% of business leaders also missed the accessibility and ease of use of their office printers, with U.S. respondents missing them the most (93%) followed by Germany (92%) and France (91%).
Our takeaway: To mitigate against future disruptions, such as the rapid transition to remote work resulting from COVID-19, companies will look to invest in new technologies and seek added capability from existing tools to accelerate their processes digital transformation.
Technology purchasing priorities are shifting to better support employees.
As a result of technology gaps uncovered by having a mostly remote workforce, 70% of IT decision makers globally are reevaluating their budget spend, with companies increasing investment in remote technology resources (55%) or a hybrid of remote and in-office resources (40%). The pandemic also has businesses prioritizing investments in cloud-based software (65%), remote IT (63%) support and collaboration software (52%).
Hardware such as laptops and printers were another important consideration, especially for companies based in France, with 22% of respondents citing it as the most important need when it comes to technology, productivity and their overall work experience.
Our Takeaway: COVID-19 is feeding digital transformation plans and companies are placing a renewed focus on meeting employees’ needs with both hardware and software.
For more information, visit www.Xerox.com/MakeNowWork.
The survey of 600 respondents located in the U.S., Canada, U.K., Germany and France was conducted by independent research firm Vanson Bourne in May 2020. Respondents included IT decision makers (including senior C-level professionals), all from organizations with at least 500 employees across a range of sectors, including business and professional services, retail, health care, financial services, and travel and hospitality.
Xerox Holdings Corporation makes every day work better. We are a workplace technology company building and integrating software and hardware for enterprises large and small. As customers seek to manage information across digital and physical platforms, Xerox delivers a seamless, secure and sustainable experience. Whether inventing the copier, Ethernet, the laser printer or more, Xerox has long defined the modern work experience. Learn how that innovation continues at xerox.com.
Note: To receive RSS news feeds, visit https://www.news.xerox.com. For open commentary, industry perspectives and views, visit http://twitter.com/xerox, http://www.facebook.com/XeroxCorp, https://www.instagram.com/xerox/, http://www.linkedin.com/company/xerox, http://www.youtube.com/XeroxCorp.
Xerox® is a trademark of Xerox Corporation in the United States and/or other countries.
Bailey Sargent, Xerox, +1-203-470-3131, Bailey.Sargent@xerox.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
BCG Collaborates with Tencent Marketing Insight to Release 2020 BCG x Tencent Digital Luxury Report25.9.2020 13:21:00 EEST | Press release
Since early 2020 when the COVID-19 pandemic broke out worldwide, the luxury market has been hit hard and is expected to decline 25% to 45% compared to the previous year. The Chinese luxury market, however, which has benefitted from successful domestic control of the pandemic and has taken the lead in recovery against a depressed global market environment, is forecast to grow from 20% to 30% in the whole year of 2020. Thanks to its stunning market performance, China has become the main battleground of each major luxury brand. In was in this environment that Boston Consulting Group (BCG) joined hands with Tencent Marketing Insight (TMI) to release the 2020 BCG x Tencent Digital Luxury Report, drawing on deep insights into post COVID-19 trends in the luxury market and consumers based on BCG and TMI’s quantitative consumer research and industry experience, as well as TMI’s marketing and big data capabilities. Crystal Hao, Managing Director & Partner of BCG said, “The luxury market in China
U.S. MRTP Authorization Pathway Explored in PMI’s Latest Scientific Update25.9.2020 13:15:00 EEST | Press release
Philip Morris International (PMI) (NYSE: PM) has released the 11th edition of its Scientific Update, a regularly issued publication on its research efforts to develop and scientifically assess a range of smoke-free alternatives to cigarettes. The latest edition features an overview of the historic decision made by the U.S. Food and Drug Administration (FDA) to authorize the marketing of the IQOS Tobacco Heating System with reduced exposure information. The Scientific Update explains the various MRTP decisions under U.S. law; the steps, processes, and timeline PMI undertook; and the ongoing post-market surveillance and studies that will monitor the impact of the orders on consumer perceptions, behavior, and health. “The FDA undertook a scientific and regulatory evaluation of IQOS and determined that it is ‘appropriate for the promotion of public health’” said Dr. Gizelle Baker, director of Global Scientific Engagement at PMI. “In this edition of our Scientific Update, we describe how th
Palladio Completes $20 Million Series B Financing25.9.2020 13:09:00 EEST | Press release
Palladio Biosciences, Inc. (Palladio), a privately-held, clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney, announced today the completion of a $20 million Series B investment. The financing was led by new investor, Samsara BioCapital, with participation from new investor, the Roche Venture Fund and existing investors, Medicxi and Osage University Partners. Proceeds from the financing will fund Palladio’s Phase 3 ALERT Study and advance operations. Srinivas Akkaraju M.D, Ph.D, Managing General Partner of Samsara BioCapital, stated, "We are very excited about our investment in Palladio to support the development of lixivaptan, a drug that has the potential to deliver a meaningful therapeutic advancement in the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD). The ALERT Study is an important step in assessing the safety differential of lixivaptan.” “We are very pleased that Samsara and the Roche Venture Fund recognize the opp
Ant Group Launches “Trusple,” an AntChain-Powered Global Trade and Financial Services Platform for SMEs and Financial Institutions25.9.2020 10:54:00 EEST | Press release
Ant Group, a leading provider in the development of open platforms for technology-driven inclusive financial services, and the parent company of China’s largest digital payment platform Alipay, today unveiled Trusple, an international trade and financial service platform powered by AntChain, the company’s blockchain-based technology solutions. Trusple aims to make it easier and less costly for all participants – especially Small-to-Medium Enterprises (SMEs) – to sell their products and services to customers around the world. It also reduces costs for financial institutions so they can better serve SMEs in need. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200925005110/en/ (Photo: Business Wire) Based on the concept of “Trust Made Simple,” Trusple works by generating a smart contract once a buyer and a seller upload a trading order on the platform. As the order is executed, the smart contract is automatically updated with k
Ipsen Appoints Philippe Lopes-Fernandes as Executive Vice President, Chief Business Officer25.9.2020 08:00:00 EEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200924005822/en/ Philippe Lopes-Fernandes, Executive Vice President, Chief Business Officer, Ipsen (Photo: Business Wire) Ipsen (Euronext: IPN; ADR: IPSEY) today announced the appointment of Philippe Lopes-Fernandes as Executive Vice President, Chief Business Officer, effective 1 October 2020. Based in Cambridge, Massachusetts, USA, he will be responsible for business development and alliance management, reporting directly to David Loew, CEO, Ipsen. Philippe will serve on the Executive Leadership Team. “As Chief Business Officer, Philippe will play a crucial role in our external innovation strategy. The ELT and I are delighted to welcome Philippe to Ipsen and look forward to working closely with him. His extensive and impressive track record in international business development, his outstanding reputation and his ability to work closely with the scientific comm
Deloitte Launches < "The Next Wave" Emerging Digital Life in South and Southeast Asia > Report At Ant Group’s INCLUSION Fintech Conference25.9.2020 06:45:00 EEST | Press release
Deloitte launched <"The Next Wave" Emerging Digital Life in South and Southeast Asia > Report today at the INCLUSION Fintech Conference, organized by Ant Group and Alipay to foster a global dialogue on building a more inclusive, green, and sustainable world through digital technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200924005941/en/ (Graphic: Business Wire) Through an extensive survey conducted across age groups in eight countries in South and Southeast Asia, specifically Singapore, Malaysia, Thailand, Indonesia, the Philippines, India, Bangladesh and Pakistan, the report showed that consumers aged between 21 and 40 years old are the leading force enabling the rapid adoption of a digital life in the region in the post Covid-19 world. Speaking at one of the media forums on Day 2 of INCLUSION, Taylor Lam, Technology, Media & Telecommunications Industry Leader at Deloitte China, said: “Young and vibrant economies
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom