Our latest report: Healthy Outcomes Covid-19 sparked a sense of urgency about America’s caregiving crisis. Will it translate into systemic change? What will it take to convince employers to drop their longstanding reluctance to offer caregiver benefits? Currently, many caregivers are left to manage the trade-offs between fulfilling their family responsibilities and going to work. They battle missing work or even leaving their jobs with little acknowledgment or help from their employers. The latest report from the Harvard Business School Project on #ManagingTheFutureOfWork by project co-chair Joseph Fuller provides empirical evidence from real-world examples. Our analysis confirmed that there is a material return on investment for employers who invest in caregiver support benefits through two primary pathways; by reducing turnover of key employees, and lowering events of absenteeism, or employees missing work to attend to caregiving responsibilities. In this report, we analyzed archival data on clients of Wellthy, a caregiver support benefits company that has partnered with 140 companies in the U.S., Canada, Ireland, and the U.K., to provide services to about 2 million employees. Recommendations for Employers: 💡 Understand the systems-wide effect of caregiving costs and benefits. 💡 Gather more information about the workforce’s care demographics. 💡 Revisit job descriptions, career paths, and managerial incentive. 💡 Monitor why workers are leaving or planning to leave. 💡 Foster a culture where caregiving is openly discussed. 💡 Audit current caregiving services and get feedback from employees who use them. Read the full report here: https://hbs.me/4u3hcbvh #caregiving #hiddenworkers #HR #COVID #workforcetrends
Project on Managing the Future of Work
Higher Education
Boston, Massachusetts 3,961 followers
Managing the challenges posed by the changing nature of work
About us
The nature of work is changing. As companies grapple with forces—such as rapid technological change, shifting global product and labor markets, evolving regulatory regimes, outsourcing, and the fast emergence of the gig economy—they must overcome challenges and tap opportunities to attract, retain, and improve the productivity of their human assets. And they must do so in partnership with policymakers, educators, and nonprofits as well as in collaboration with other companies. Tackling the changing nature of work will require companies to move beyond outdated workforce development models and human resource practices. Instead, they will need to embrace new ideas, create new institutions, and forge new alliances with external stakeholders—in ways that build competitive advantage for the firm and strengthen the communities in which they operate. Harvard Business School’s Project on Managing the Future of Work pursues research that business and policy leaders can put into action to navigate this complex landscape. The Project’s current research areas focus on six forces that are redefining the nature of work in the United States as well as in many other advanced and emerging economies: • Technology trends like automation and artificial intelligence • Contingent workforces and the gig economy • Workforce demographics and the “care economy” • The middle-skills gap and worker investments • Global talent access and utilization • Spatial tensions between leading urban centers and rural areas
- Website
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https://www.hbs.edu/managing-the-future-of-work/Pages/default.aspx
External link for Project on Managing the Future of Work
- Industry
- Higher Education
- Company size
- 2-10 employees
- Headquarters
- Boston, Massachusetts
- Type
- Nonprofit
Locations
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Primary
Soldiers Field Rd
Boston, Massachusetts 02163, US
Employees at Project on Managing the Future of Work
Updates
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Recognition: The Harvard Business School #ManagingtheFutureofWork podcast has been tipped by the Guardian as one of its shows of the week. "… thanks to their faculty of engaging hosts and know-it-all guests, there’s a deep back catalogue of genuinely usable, relevant investigations into the way our work is changing our lives, and vice versa. Start with computer scientist and author Cal Newport on the “productivity deficit”, and you’ll be hooked." https://lnkd.in/ePpnvs_Y #Podcast #FutureofWork
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On the latest episode of the Harvard Business School Project on Managing the Future of Work podcast, William Kerr welcomes Brad Turner-Little, President and CEO of the National Association of Workforce Boards (NAWB). As the reauthorization of the Workforce Innovation and Opportunity Act #WIOA works its way through Congress, workforce boards across the U.S. are wrestling with how to adapt to rapid labor market changes, comply with federal mandates, and meet the unique needs of their local communities—all with limited resources. Turner-Little breaks down the issues, challenges, and priorities, and flags successes and best practices. Highlights: 💡 Tighter Federal Mandates: Proposed legislation may require that 50 percent of funds be directed solely to training programs, which NAWB contends would limit workforce boards' ability to provide essential support services like transportation and childcare to help individuals stay in the workforce. 💡 Funding Pressures: Despite increased responsibilities, workforce boards are often left with stagnant or declining funding. Governors may gain more control over federal allocations, potentially eroding local flexibility 💡 Data Challenges: Performance metrics can lag by years, making it difficult for workforce boards to measure success in real-time and adjust programs quickly to meet the changing needs of the labor market 💡 Metrics: As Turner-Little notes, tracking job placements by area of training can be useful, but local job markets and job seekers' economic circumstances can render this measure less reliable 💡 Adapting to AI: As AI reshapes the job market, workforce boards also need to leverage the technology for tasks like job matching and financial modeling 💡 Turner-Little also notes that workforce boards' mission of serving diverse community members, coupled with widespread worker shortages, reinforces the alignment of diversity and economic development priorities. By fostering inclusion, workforce boards can address both local labor market needs and long-standing inequities in access to quality jobs. 💡 Turner-Little also highlights local successes, such as boards' effective responses to mass layoffs and partnerships with innovative industries. Find the conversation at https://hbs.me/vy4sdj56 . #WorkforceDevelopment #WIOA #SkillsBasedHiring #NAWB #LaborMarketTrends #AI
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Corner office churn is at a high. In the midst of this pressure how do you break through the echo chamber to help top executives up their game and lead more effectively? On the latest episode of the Harvard Business School Project on Managing the Future of Work podcast, William Kerr talks leadership development with pioneering executive coach Marshall Goldsmith. He argues that real growth comes from listening to candid feedback and focusing on future objectives. Also, Goldsmith's AI project to share his methods with a wider audience. Highlights: 💡 Humility as a Strategic Asset: How can leaders escape the isolation of their own success? Goldsmith advises them to "let go of the past" and engage in the hard work of acknowledging mistakes as a step toward future growth. 💡 Custom 360-Degree Feedback: What’s the best way to burst the bubble and gain honest insights? Goldsmith stresses that “the higher up they go, the more important confidential feedback becomes,” especially when it’s customized to reflect the organization’s core values. 💡 Communication and Listening: How can leaders ensure they are hearing what matters? Goldsmith’s approach, “you have to ask, you have to listen, and you have to learn,” is designed to push leaders out of their echo chambers and into meaningful conversations. 💡 Balancing Achievement and Happiness: Untangling the drive for success from personal fulfillment goes against the grain for many top performers, but Goldsmith asserts that “happiness and achievement are independent variables.” Listen to the conversation at https://hbs.me/2p8sy73u #Leadership #AI #ExecutiveCoaching #WorkLifeBalance
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Find out why the best startup strategy is often a reboot. In a bonus episode of the #ManagingTheFutureOfWork podcast, Joseph Fuller talks to his Harvard Business School faculty colleague Richard Ruback about the onramp to entrepreneurship that begins in acquiring a proven small business. Rick and HBS professor Royce Yudkoff host HBS’s new podcast Think Big, Buy Small, which is based on their popular HBS course Entrepreneurship through Acquisition. Listen to the conversation at https://hbs.me/a7n72ns5. #entrepreneurship #smallbusiness #careers
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Listen to the latest episode of the Harvard Business School Project on Managing the Future of Work podcast for Joseph Fuller’s conversation with EY ‘s global talent lead, Trent Henry. Trent describes the new challenges facing CHROs and how the increasingly common path from business unit leadership to heading the people function equips executives with the skills to tackle the complex demands of the job. Other takeaways: 💡 Impact of Generative AI: As AI is deployed to manage skills and talent firms can build comprehensive skills inventories and link them to demand forecasting to stay competitive. 💡 Focus on Employee Health and Wellness: COVID spurred a heightened emphasis on employee wellbeing. While some firms have recalibrated their approach, EY finds the focus aligns with its performance goals. Overall, the firm’s employees are prioritizing skills development, coaching, community engagement, and personal health. 💡 Customized Skills-building: Organizations need to move away from a one-size-fits-all approach and offer personalized value propositions that align with employees' evolving needs and expectations. Find the episode at https://hbs.me/2p966rwx . #FutureOfWork #HR #AI #EmployeeWellness
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While there's no lack of evidence of #caregiving's rising toll on workers and firm productivity, there's relatively little hard data to back the business case for employer-provided #caregiver benefits. As part of its series on practical strategies toward economic inclusion, the HBS Institute for Business in Global Society (BiGS) spotlights Harvard Business School Project on Managing the Future of Work (MFW) co-chair Joseph Fuller's research on caregivers with a feature on the MFW report Healthy Outcomes. The report, which draws on data from Wellthy, a caregiver support benefits company, lays out the return on investment to employers that provide workers with caregiving case management, advice, coordination, and access to community, reducing costs associated with employee turnover and absenteeism. Read the BiGS feature at https://hbs.me/3vfrtmx8 . The MFW Healthy Outcomes report can be found at https://hbs.me/4pwkvbds . #HiddenWorkers #CareEconomy #Turnover #Benefits #HR #Absenteeism
Workplace Insight: Does caring for another person impact worker productivity? 80% of workers said yes, compared to only 25% of employers. According to a Harvard Business School report, Healthy Outcomes, this discrepancy highlights a major disconnect between employees and employers, as well as an opportunity. The report points to the fact that companies that offer innovative benefits for caregivers can make better hires, mitigate turnover, and increase productivity and morale. The report examined employers that offered caregiver #benefits through a “care concierge” that connects caregivers to planning, administrative, and support services. The payoff was clear. Employers that provided these services reduced absenteeism by up to 50% and even saw a return on investment (ROI) of up to 72%. To learn more about HBS professor Joseph Fuller’s research about #caregivers in the workplace, and what employers can do to support them, visit the HBS Institute for Business in Global Society (BiGS): https://lnkd.in/edwMYgTS. And if you have a story about effective employer caregiving benefits, we’d like to hear about it — reach out to us. #WorkplaceInclusion #Inclusion #Business #Innovation #Harvard #DEI #Caregiving #TheFutureofWork #Productivity #Turnover #ROI #HumanResources #HR #CHRO #Research #ResearchBasedInsights #Absenteeism #Values Project on Managing the Future of Work
Companies that respect 'caregiving' can show measurable gains, research shows | Institute for Business in Global Society
hbs.edu
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How are firms maintaining performance and #corporateculture as the new employment bargain is being worked out post-#Covid? And when it comes to the #hybridwork experiment, what’s behind the apparent disconnect between academic studies and the experience of some business leaders? Future-of-work observer Jacob Morgan joins Harvard Business School Project on Managing the Future of Work co-chair Joseph Fuller on the latest episode of the #ManagingTheFutureOfWork podcast. Also, what Jacob's latest book, Leading With Vulnerability, says about leading through periods of instability. #leadership #AI #careerdevelopment #returntooffice Listen to the conversation at https://hbs.me/mvm9dse7 .
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In Harvard Business Review, mining an extensive survey of U.S. #HR leaders, Harvard Business School Project on Managing the Future of Work co-chair, Professor Raffaella Sadun, Professor Jorge Tamayo, and PhD candidate Leila Doumi, along with colleagues from Boston Consulting Group (BCG), identify effective strategies, potential pitfalls, and useful metrics for #Reskilling. #AI #WorkforceDevelopment #WorkforcePlanning #Retention https://lnkd.in/etiDyDPW
Designing a Successful Reskilling Program
hbr.org
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Recent coverage: A month helping her husband through a health scare brought home to The Washington Post columnist Petula Dvorak the burden faced by the 50 million-plus #caregivers in the U.S. In describing the strains on caregivers’ work lives, she notes the disconnect between employers and employees and the toll on performance, citing the #ManagingTheFutureOfWork report The Caring Company, by Joseph Fuller and Manjari Raman. #CareEconomy #WorkLifeBalance #CareGivingCrisis https://lnkd.in/gJpdbxV3 Find the Caring Company report at https://hbs.me/ycy6a4jt.
Perspective | I just got a taste of our nation’s caregiver crisis. We’re in trouble.
washingtonpost.com