Key Workplace Transformation Decisions Shifting From CHROs to CEOs: Infosys Study

BENGALURU, India, March 13, 2020 /CNW/ --  Infosys Knowledge Institute (IKI), the thought leadership and research arm of Infosys (NYSE: INFY), today published a global research report on the workplace transformation landscape titled, 'Drive Change from Within.' The research revealed that CEOs are now prioritizing on driving a workplace transformation roadmap and contributing to its development in the organization.

Infosys surveyed more than 1,300 senior leaders from banking, healthcare, manufacturing, retail, telecom, and energy and utility firms, with revenues of more than $1 billion, for this report. The study offers a detailed view into how transforming the workplace can lead to the growth and success of an enterprise in today's competitive landscape, market dynamics, and customer expectations. It also provides perspectives on workplace transformation trends, adoption of various contemporary tools, transformation benefits, and apprehensions, across organizations.

Key findings of the survey:

• 45 percent respondents believe that CEOs are the most influential in driving a workplace transformation roadmap.
• 57 percent of organizations consider digital tools (e.g. enterprise productivity suites, enterprise communication software etc.) to have the maximum impact on workplace transformation. The impact of digital tools on workplace transformation is ranked higher than that of physical elements (e.g. co-working, smart buildings, etc.) and cultural changes (e.g. training & upskilling, work-life balance, etc.), which are at 38 percent and 15 percent respectively.
• Organizations strongly believe that digital workplace transformation can improve collaboration across teams (86 percent), and provide superior customer experience (84 percent).
• Adoption of the workplace transformation strategy is well underway with more than 80 percent organizations already having a well-defined strategic roadmap in place.
• 55 percent of respondents reckon choosing the right solutions/technology is a significant concern before embarking on workplace transformation. During implementation, data security (77 percent) and obtaining a buy-in across the organization (74 percent) were stated as the biggest challenges.
• The ability to drive alignment with business outlook (60 percent), leverage the latest technologies (55 percent) and manage cultural change (53 percent) are seen as the top advantages of working with external partners for workplace transformation.
• While workplace strategy and implementation is prevalent across industries, Banking, Financial Services & Insurance, Retail, Consumer Goods, Logistics, Communications, Media and Technology sectors lead the pack.

Ravi Kumar, President, Infosys, said, "The current multi-generational workforce demands a workplace that is highly collaborative, productive and engaging. Therefore, today organizations are utilizing the power of digital technologies to create a modern workplace where employees aspire to grow not just as individuals but as a focused network of teams. This entails reimagining employee experience and engagement in a meaningful way, while encouraging collaboration and ensuring information security. This report reinforces that workplace transformation has moved beyond physical infrastructure and has become a key priority for the C-suite who are looking to empower their employees with the right set of digital tools and fresh experiences."

John Laherty, Senior Research Analyst, NelsonHall, said, "The paradigm shift in the workplace transformation space has made it imperative for organizations to provide their employees 'consumer-like' experiences. The research report by Infosys, 'Drive Change from Within' highlights the fact that companies are embracing digital tools and technologies in order to foster collaborative workplaces which will culminate into increased efficiencies. Organizations today stand to gain from building workplaces that enable employees to utilize their true potential, increase their productivity and provide a seamless user experience without compromising on security. The first movers in this transformation journey can use this competitive edge to their advantage and get more value from their workplace, faster."

For a full copy of the report, please visit: https://www.infosys.com/services/microsoft-cloud-business/insights/workplace-transformation-research-study.html

Survey Methodology

Over 1,300 senior leaders from banking, healthcare, manufacturing, retail, telecom, and energy and utility firms, with revenues of more than $1 billion were surveyed for the study. These business leaders represent some of the leading organizations operating across the United States, the United Kingdom, Europe, and Australia–New Zealand (ANZ).

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements mentioned in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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