Workplaces are changing in response to ongoing technological, environmental, and social transformations and their reverberations. One example of that is the flexible mode of work, which has emerged as a long-term effect of the COVID-19 pandemic. Mandated lockdowns in many countries in 2020 and 2021 challenged us to work, learn, and lead in hybrid and remote modes, which opened our eyes to both their benefits and limitations. Although we now understand better how to seek and achieve a more balanced way of living and working, hybrid and remote work has also led to and illuminated inconsistencies in collaboration, inclusion acculturating, and belonging. These need to be addressed with the tools of transformative leadership. Therefore, one of the issues that this emerging theme report will discuss is how hybrid work looks across different organisations, industries, and countries; the ways it has changed how finance teams work and interact; and whether enhanced or different skills are needed to operate effectively in a such an environment.
Finance professionals engaged in outsourced and shared finance services are also embracing new ways of working. By harnessing the power of better human and technological interactions that facilitate work efficiencies and meaningful decision-making, these practices have evolved. Yet, what has not changed is that, as we re-invent finance for a digital world, the focus has shifted from managing costs to creating value. This principle continues to drive the evolution of finance business partnering (FBP) practices. From where we stand, the future of the workplace and the development of finance professionals look like a fusion of generalist and specialist roles, defined by a mix of technical (finance and digital) and enabling skills. Thus, business partnering through strategic analysis, creativity, communication, collaboration, and agility is at the centre of how leaders see value creation and the role of finance in it. The future also includes increased consideration of diversity, equity, and inclusion (DEI), which is exemplified by novel talent strategies and initiatives and a focus on retention and well-being, in particular work-life balance and mental health support. This emerging theme report summarises the evidence collected on hybrid work, shared services, and finance business partnering, as well as the repercussions of these changing ways of working for the role and skills of finance.
