Enterprise Times covered several pieces of research that were published over the last week or more. Salesforce revealed the February shopping data from Commerce Cloud. While inflation is driving prices up global revenues fell over the month.
Tipalti looked at the trends in AP finance for fast-growing businesses. It found that 80% do not have the systems in place that will enable them to grow efficiently.
A new study by Credit Karma, an Intuit solution looked at the pay inequities in the USA. It found that two-thirds of workers feel that their pay will not cover the rise in inflation. Credit Karma has a strategy of role-based compensation. It seems to be helping retention and pay equity across the company. 86% of women who work at Credit Karma believe their total compensation is fair, along with 82% of men. That’s compared to 55% of women and 57% of men at other tech companies.
Colleen McCreary, chief people, places and publicity officer at Credit Karma commented: “At Credit Karma, it’s our mission to champion financial progress for our more than 120 million members and we apply that same mission internally.
“We want our employees to be able to make financial progress and that starts by providing standardized and equitable pay with ongoing biannual market evaluations. Through our role-based compensation structure, we’re able to limit biases that might otherwise exist within the hiring process and make sure all Credit Karma employees are paid consistently, no matter what.
“We recognize that overhauling compensation requires a significant investment and not all companies are in the financial position to do so overnight. However, I believe there are steps companies can take to improve pay equity within their company and show their dedication to closing the gap. This starts with explaining to employees how they’re paid, how those decisions are made and how often they’re reviewed.
“We made these changes to our compensation because it was the right thing to do, and we hope this serves as an example to other companies who have not yet made the leap to standardize their pay.”
Microsoft published its second annual Work Trend Index report, “Great Expectations: Making Hybrid Work Work.” The research identified five trends based on a study of 31,000 people across 31 countries.
Employees have a new “worth it” equation.
53% of employees prioritize health and well-being over work more than they did before the pandemic. 52% of Generation Z and millennials are likely to consider changing employers in the year ahead, up 3% year over year.
Managers feel wedged between leadership and employee.
50% of leaders say their companies are planning a return to full-time in-person work in the year ahead. 54% of managers say leadership at their companies is out of touch with employee expectations. 74% of managers say they don’t have the influence or resources to drive change for their teams.
Leaders need to make the office worth the commute.
38% of hybrid employees say their biggest challenge is knowing when and why to come into the office. However, only 28% of leaders have created team agreements to define these new norms.
“Always on” is getting closer.
After two years, weekly meeting time for the average Teams user is up 252%, and chats sent per person each week is up 32%. The workday span has increased by 46 minutes, after-hours and weekend work are up 28% and 14%, respectively.
Rebuilding social capital looks different in a hybrid world.
51% of hybrid workers are considering a shift to full remote work in the year ahead. It means companies cannot rely solely on the office to recoup the social capital we’ve lost over the past two years. 43% of leaders say relationship-building is the greatest challenge of having employees work in a hybrid or remote environment.
Jared Spataro, corporate vice president, Modern Work, Microsoft notes: “There’s no erasing the lived experience and lasting impact of the past two years, as flexibility and well-being have become non-negotiables for employees. By embracing and adapting to these new expectations, organizations can set their people and their business up for long-term success.”
76% of mid-sized businesses have changed their business operations since 2021 as a report by MYOB found. To do so 37% have invested in technology, 35% in new staff and 28% in sales and marketing. 82% now have a bigger sales pipeline than the same time last year. 38% believe they have more work on the way.
The 2022 Mid-market snapshot survey found a greater optimism in Australian businesses:
- 29% were hopeful
- 28% excited
- 20% confident
Kim Clarke, MYOB General Manager – Enterprise commented: “Considering the significant challenges they faced, we’ve seen from a range of our market insights that 2021 was a good year for many medium-sized businesses. Now, with a strong picture of what headwinds they’ll likely face over the next 12 months, their focus is on fulfilling the growth potential of their business.”
Despite the optimism, challenges remain, the top two challenges are:
- A shortage of skilled employees 45%
- Supply chain disruption 45%
Findings varied by industry, with Ms Clarke adding: “Given the challenges facing many businesses in the wake of the Omicron outbreak, it’s no surprise that skilled employee levels and potential business disruption – like supply chain issues or temporary site closures – are high on the radar of our local mid-market firms.”
Plex, a Rockwell Automation company published its 7th annual study, “The State of Smart Manufacturing.” Conducted by Hanover research and based on a survey of 300 manufacturers the report looks at the trends, challenges and plans of global manufacturers
Key trends identified included:
- Smart Manufacturing adoption increased by 50% and will continue to accelerate in 2022
- 64% of organizations agree that technology can reduce hiring challenges and fuel growth in the next five years.
The top three challenges identified were:
- Supply chain management
- Skilled worker shortages
- Risk mitigation
All of these, the authors believe, require a new approach. Existing technologies such as cloud, industrial hardened devices, and process automation are helping address these challenges. However, risk mitigation technologies may see a surge during 2022 with 61% of respondents not having a system in place
Jerry Foster, Chief Technology Officer, Plex Systems commented: “This report aims to help manufacturers benchmark their technology strategy and incorporate smart manufacturing best practices to stay competitive and thrive. A scalable technology strategy makes it possible to incrementally adopt solutions and achieve value quickly. As manufacturers look to streamline processes and solve today’s challenges, they are placing significant value on using smart technology to address and improve actual business outcomes.”
Research by Qualtrics revealed that only 55% of students feel their educational experience is worth the cost. The problem does not end there for higher education. 78% of administrators say students are satisfied with their social experience, while just 58% of students agree. The survey consisted of 1,009 respondents living and studying in the US.
Omar Garriott, global head of education at Qualtrics commented: “To deliver the best possible experience for students, higher ed leaders must not only provide regular opportunities for feedback across channels but also show they’re listening and actually using that feedback to make tangible improvements across the student journey—institutionally and individually.
“Our research shows that students’ satisfaction is directly tied to feeling like they belong and that their voice is being heard. Opportunities abound for schools to continue to prioritize student experience and expand upon sentiment programs put in place during the pandemic.”