While the expectations vary widely by industry-from 69 percent predicting this level of remote work in technology, telecommunications, and media to 43 percent in advanced industries-even in the industries where manufacturing, patient care, and sales transactions often require people at offices, stores, plants, and other company facilities, a significant portion of the workforce may be partially or fully remote. Fifty-five percent of leaders anticipate that at least half of their organization’s workforce will be fully or partially remote postcrisis. Consider expectations regarding remote and hybrid work, for example. Moreover, survey respondents expect that at least some of these changes will remain in place once the pandemic ends. This rollout had been planned for over a year, prior to this.” (All quotations in this article were gathered in our survey.) As one surveyed healthcare leader explained: “We were able to deploy an enterprise-wide virtual care solution in a matter of weeks, because that is all we had. Leaders are making many of these changes swiftly by necessity. In most industries, more than half of leaders surveyed are considering or planning large-scale changes in ten of the 12 dimensions explored (Exhibit 1). Large-scale change anticipatedīecause of the pandemic, executives are overseeing a seismic shift in how organizations work, spanning tactical adjustments in areas such as meeting structure and cadence, and day-to-day management, as well as enterprise-wide changes in leadership and talent management, use of technology, and innovation. The executives we surveyed report that organizational silos, unclear strategy, and slow decision making frequently interfere with attempts to boost the rate at which work gets done. In this article, we offer a closer look at the changes organizations have been making to gain speed, and the further moves that might help them pick up the pace. Leaders see three primary opportunities to overcome these challenges: building faster decision-making mechanisms, improving internal communication and collaboration, and increasing the use of technology. Yet adding speed is not as easy as stepping on an accelerator. We define organizational health as an organization’s ability to align on a clear vision, strategy, and culture to execute with excellence and to renew the organization’s focus over time by responding to market trends. Fast organizations outperform others by a wide margin on a range of outcomes, including profitability, operational resilience, organizational health, 2 What’s more, survey findings indicate that making a special effort to gain speed pays off.
The sample included executives and directors in the following industries: consumer goods and retail pharmaceuticals and medical products healthcare systems and services high tech, media, and telecommunications travel, transport, and logistics banking advanced industries global energy and materials and insurance total n = 853. The survey was in the field from June 17 through July 6, 2020. Amid the COVID-19 pandemic, executives and directors say their organizations are making extensive changes with one overriding goal: to increase the speed at which they adjust strategic direction, make and implement tactical decisions, and deploy resources.
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