SOCO Report: Workforce Trends

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Executive summary

Technology is transforming workforce safety, security and efficiency while delivering massive ROI.

INVESTING IN SAFETY AND SECURITY

In the next five years, 99% plan to boost investments in workforce safety and security technology.

Workforce expectations are changing. Employees want more investment in technology that can help them respond during emergencies and communicate in real time, and leaders are taking note.

PLANNED INVESTMENT IN TECHNOLOGY IN THE NEXT FIVE YEARS

15%

Plan to invest a significant amount more in technology to improve workforce safety and security over the next one to five years

Plan to invest a moderate amount more in technology to improve workforce safety and security over the next one to five years

Plan to invest a small amount more in technology to improve workforce safety and security over the next one to five years

Believe no additional investment is needed

44% of leaders say their employees are asking for them to invest in improved emergency response protocols, as well as enhanced personal protective equipment (41%) and better tools to locate and recover stolen or lost equipment (40%).

50% are planning to introduce additional IoT-enabled safety devices and wearables, closely followed by automation that reduces worker exposure to hazards, such as automated vehicles or equipment (46%).

74% of leaders in Germany and 71% of leaders in Mexico say they plan to invest a moderate or significant amount in technology to improve workforce safety and security in the next five years.

UNLOCKING PEAK PERFORMANCE

Technologies that enhance workforce safety, security and efficiency are delivering massive ROI.

41% of leaders say their organisation has saved £0.8m+ as a result of implementing technologies that improve workforce safety and security, which is a win-win for organisations and employees.

Investments in workforce safety and security are paying off in big ways.

Technologies such as cameras, digital documents and apps for real-time communication deliver clear ROI. The top three areas where leaders have seen the biggest impact are enhanced worker safety (42%), improved compliance (41%) and increased operational efficiency (40%).

Technology that protects and exonerates employees saves money.

As a result of exonerating workers from false claims and not-at-fault incidents, 80% say their organisation has saved £400k or more. Many also report enhanced trust, increased employee morale, improved productivity and lower turnover.

Now, employees have more time to focus on high-value tasks.

99% say their workforce’s time has been freed up by recent technology improvements. As a result, they are able to reallocate workers’ time to other high-value areas, including performing preventative maintenance and safety checks (45%) and investing in upskilling (42%).

How much are leaders saving from investments in technology?

98%have saved £80k+

81%have saved £400k+

41%have saved £0.8m+

8%have saved £4m+

RECRUITING AND RETAINING THE NEXT GENERATION

85% of leaders in physical operations agree that their industry is becoming more desirable to young workers.

Organisations that embrace new technology are seeing a positive impact on recruitment and retention of young workers, reflecting the next generation's comfort with technology and their expectation for it to be part of daily life, both on and off the job.

TECH THAT’S HELPING RECRUIT AND RETAIN YOUNG WORKERS

36%

Cameras that protect employees from false claims

34%

Personalised scores based on safety or efficiency data

33%

Data-based incentives and rewards

32%

Virtual coaching tools that provide real-time feedback

31%

Talent upskilling programmes

Cameras were the No. 1 technology leaders cited as helping with recruitment and retention due to their ability to protect employees from not-at-fault incidents and false claims.

A growing number of organisations are using e-learning platforms to train and develop employees; only 15% still rely solely on onsite training. The No. 1 improvement leaders say they’ve seen as a result is improved employee retention.

The top-reported challenges to recruiting and retaining talent over the next five years include adapting to evolving worker expectations and limited availability of skilled workers, indicating that employers must take a multi-faceted approach.

What do industry leaders have to say about building the workforce of tomorrow?

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