Reskilling, Talent Diversity & Digital Tool Automation Can Drive $1.4 Tn In Revenue & $282 Bn In Profit: Report

A new Infosys report says that up to USD 1.4 trillion in revenue and USD 282 billion in new profit could be generated through digital tools automation, diversifying talent pool, and improving skills development amongst employees. 

The report highlights how the workplace of the 21st century will see more hybrid working and digital engagement, enabling firms to build more diverse and creative teams. 

It also found that shifting to a flexible, diverse, and digital work model is correlated with 7.7 percentage points higher profit growth and 6.7 percentage points higher revenue growth.

Interestingly, the report revealed that retention of employees will be critical. “Companies that increased their staff retention between 2020 and 2022 were almost a fifth more likely to see increased revenue and profit compared with those that saw retention fall during this period,” the reports said. 

This statistic is interesting considering the mass layoffs being undertaken in tech companies globally. 

The survey was conducted by the Infosys Knowledge Institute (IKI), the research arm of Infosys, and surveyed 2,500 senior executives and managers involved in workplace and workforce planning for large companies with more than USD 1 billion in annual revenue. The survey covered 12 industries across the US, UK, France, Germany, Australia, and New Zealand. 

Automation and modernisation of digital tools are set to become the top investment priority for firms in the next two years and expected to bring in up to USD 123 billion in profit, according to the report.

The report also found that successful businesses of the future are likely to focus less on the employees’ work location and more on the mix of people who are working and how well they are supported.