Large corporates expect an annual hit to revenue of up to 25% as a result of workforce activism. In real terms this could mean costs equating to £177m per year.
According to a new report, published by Herbert Smith Freehills, senior executives in some of the world’s largest companies now believe workforce activism is one of the top three risks to their organisation’s reputation. Called ‘The Future of Work’, the report is based on interviews undertaken with the C-suite, in companies reporting annual sales in excess of £250m. The findings reveal that:
– more than 80% of companies expect to see a rise in workforce activism over the next three to five years
– 57% expect fears around automation replacing human workers to be a key trigger for activism, topping pay and benefits (47%) and environmental concerns (46%) as key drivers for employees wanting their voices to be heard