Survey results reveal 84% of companies identify worker retention and workforce retirement as significant challenges

RALEIGH, North Carolina and WINNIPEG, Manitoba–(BUSINESS WIRE)–Librestream, the #1 remote expert technology platform for the industrial workforce, today announced the results of a study conducted by the independent market research and consulting firm Verdantix, titled “Increasingly Complex Challenges in the Workplace Demand Innovative Solutions for Connected Workers.” “The study describes the impact and challenges within the connected frontline workforce.

In response to the COVID-19 pandemic, the Great Resignation, and supply chain issues, connected worker technologies and digital transformation efforts have been accelerated. However, with 40 million workers leaving their jobs in 2021 alone and more than three million – and counting – taking early retirement, challenges continue to arise, including high training and employment costs. integration, lower production potential, an understaffed workforce, and the potential for more experienced and senior employees to fill positions of low business value.

“Organizations today are losing critical operational knowledge,” said Charlie Neagoy, SVP, Customer Success at Librestream. “Unless the transformation of the workforce becomes the focus, we risk facing a larger global worker crisis and a loss of knowledge that could cripple the global economy and critical industries. .”

The report examines the outlook for the aerospace, oil and gas, manufacturing, and utilities industries. Key findings include:

  • Top challenges in industries: 72% of respondents said retirement is a big or very big challenge

  • Approaches taken to overcome these challenges: 42% believe digital technology is critical to the success of frontline connected workforce initiatives

  • Investments in technology: 20% of respondents will invest in a commercial vendor for the first time, 32% intend to use virtual reality (VR) solutions to train workers in the next year

  • When selecting solutions, the most important features were: 96% specified user interface quality, 90% indicated low bandwidth, 88% believed in security and data protection, and 82% called the ability to integrate with third-party systems.

The findings also point to the need for organizations to support frontline workforce productivity and safety with technologies that help enable knowledge networks, provide remote assistance, provide instruction digital workplaces and enable virtual training. “Amid the challenges of the labor market, we are seeing greater adoption of connected worker solutions, provided by companies such as Librestream, as part of operational excellence strategies,” said Hugo Fuller, technology analyst, practice operational excellence at Verdantix.

A research-based discussion with Neagoy, Fuller and Librestream SVP, Product, Marieke Wijtkamp, ​​will take place on July 14, 2022 at 11:00 a.m. EDT, diving into shrinking labor and solutions for transforming Workforce. During the session, they will discuss in depth the findings, how to integrate workforce transformation as part of digital transformation, and what technology investments to make based on peer success.

To learn more about the impact of deskless and hands-on workers through digital business transformation, download the full research here. Join Librestream for the next webinar and register here.

About Librestream

Librestream transforms the workforce with advanced AR and AI solutions that extend insights across enterprises to improve safety, efficiency and resilience. With the Onsight augmented reality knowledge platform, Librestream helps distributed workers and teams immediately access the relevant content, people, data, and insights needed to solve business challenges. Librestream’s Forbes 2000 global client base includes companies in energy, manufacturing, services, aerospace and defense, with total annual revenues of $3.2 billion. The company was honored with recognition, including being ranked as the #1 AR remote support solutions provider by independent research firm Verdantix, named an IDC Innovator and winner of the Field Service WBR Innovation Award. Visit Librestream at librestream.com and connect with us on LinkedIn, Facebook & Twitter.

Librestream press kit here.

About Verdantix

Verdantix is ​​an independent research and consultancy firm with over a decade of experience in digital strategies for environment, health and safety., operational excellence, and Smart buildings. In 2022, Verdantix launched a standalone subscription for Net Zero & Climate Risk following the successful introduction of a dedicated ESG & Sustainability practice in 2021.

The company, which is based in London with offices in New York and Boston, is a winner of the 2021 Queen’s Award for Enterprise in the International Business category. It has grown rapidly even during the pandemic due to the company’s focus on providing high-quality research on the applicability of digital technology to some of the world’s most important issues. Today, Verdantix is ​​a leading source of research and analysis for business leaders around the world.

Michael A. Bynum