Conference Board Reveals 6 Key Areas to Drive Productivity

Strategies to enhance productivity and success can be influenced by skills development, managerial capabilities and organizational adaptability, according to The Conference Board, a member-driven think tank. Leaders are trying to keep their staff members motivated, engaged and most importantly, productive in the post-pandemic work environment, according to discussion during a June 17 webinar held by the nonprofit.

Marion Devine, principal researcher in human capital for Europe at The Conference Board, broke out six key drivers affecting workplace productivity for firms to consider.

1. Reskilling and Upskilling

Reskilling involves transitioning employees from declining work areas to new, growing sectors by retraining them, Devine explained. Meanwhile, upskilling helps employees adapt to the changing needs of the business by broadening their skill set.

Both strategies require investing in a comprehensive range of skills to ensure employees can quickly adapt to evolving job roles and emerging positions. But it’s crucial, Devine said, for large companies to commit to these areas to maintain workforce agility and growth.  

2. Leaning Into Artificial Intelligence

“AI is now generative, something that everybody can use,” Devine told the virtual audience. “It’s something that is exploding in terms of its use through speech, images and language. We’re seeing that AI can transform how people work.”

AI has the potential to transform how people work by handling simple, repetitive, and administrative tasks, she stated. This shift allows employees to focus on more human and complex tasks that require imagination, creativity, and relationship-building—areas where machines cannot compete. By freeing up time for these activities, AI not only transforms work but also enhances productivity.

3. Diversity and Inclusion

The importance of maintaining ethical standards and adapting to evolving industry spaces is crucial for companies, recommended Devine. She emphasizes that, despite occasional pushback, prioritizing diversity and inclusion is vital not only from a moral standpoint but also for enhancing business productivity. As the industry grows, businesses must continually revisit these principles to stay competitive.

“If you have a diverse workforce, management team and board, you will see gains in terms of profitability, financial performance, innovation and collaboration,” she said

4. Employee Well-Being

Work can be extremely taxing, therefore ensuring employee well-being crucial for productivity, Devine suggested. Making sure that employees have the energy, commitment and imagination needed for their roles is essential. Evidence supports this connection, she said, highlighting the importance of looking after employees to maintain high levels of performance.

5. Chief Human Resources Officer Leadership

One of the fundamental challenges for CHROs is mobilizing their own department to help leaders and HR practitioners understand that productivity is intrinsically linked to their roles, Devine said. Productivity is deeply connected to people, culture and management. Therefore, it’s crucial for the HR function to recognize that enhancing productivity is central to its mission.

A key task for CHROs is to align the HR function with this understanding and encourage a different perspective on productivity. Additionally, CHROs play a vital role in the C-suite by educating its members around a cohesive strategy on driving productivity.

6. Agility and Resilience

Agility is essential for both individuals and organizations, Devine stated. It involves the ability to adapt to the changing needs of customers and the evolving environment, requiring constant strategic adjustments.

“Agility and resilience as an organization means, in very volatile times, the ability of the company to respond quickly to external changes in the business landscape,” she said.

Is that accurate? She was talking about both?