The Post-pandemic World of Work: Are We Using the Right Management Tools to Create Value?

Abstract

The lockdown-induced hybrid working model changed the labour landscape significantly. However, as restrictions were relaxed, there was little sign that previous ways of working would fully return. Instead, some forms of the modern trend were here to stay. You see, once new approaches become mainstream the impact is seldom challenged. Take for example an interview, it is a trusted management tool that helps organisations decide whether a potential recruit might be the right fit. Do you interview everyone that joins your business or are there exceptions? Management tools and systems, like interviews, can remain unchallenged for centuries. This paper adds to the body of research into an organisational design that emphasises human capital and the ability to create value through intangible assets. We bring together three perspectives (i) what experts say are best management practices today, (ii) what employers in Lebanon currently do, and (iii) how effective employees feel these tools are. We draw conclusions that can help accounting professionals to take the step and question traditional practices that might be restricting growth. Our investigation into the subject of value creation revealed that while system updates were already underway in some countries, in Lebanon, businesses are behind in capturing value from intangible assets. That’s significant because intangible assets are up to nine (9) times more valuable than a business’s physical assets. Although senior management there know that employees’ skills, know-how, and commitment can directly impact the financial performance of their business, the work people perform continues to be managed in the traditional way, which is a recipe for failure.