How Flexible Forms of Work and Digital Transformation Affected the Organization, Efficiency, and Productivity of Greek Firms during the Period 2020-2023
2020-2023 is a pivotal moment for the contemporary business landscape, as the COVID-19 pandemic caused significant disruptions and forced companies to adapt quickly to new business models and organizational structures. In this context, flexible arrangements and digital transformation proved to be important tools in ensuring business continuity and maintaining performance. The aim of this study is to examine the empirical effect of the two mentioned factors on organizational performance, in terms of efficiency, productivity and structural adaptation of the enterprises in Greece. The study is based on data from the questionnaire answered by high-level staff of 89 large Greek companies which use IFRS. The results are subjective, based on respondents’ perceptions of organizational productivity, and not necessarily based on financial or operational performance indicators. The institutional context of the sample is IFRS compliant but does not imply reliability of the survey measured by the reliability of the instruments. Descriptive statistical analysis, reliability test, and multiple regression models are used to analyze the individual and combined effects of flexible work and digital transformation on productivity. The results show that digital transformation is the most impactful and positive predictor of productivity, showing a strong positive link. Flexible work arrangements, on the other hand, have a positive, but conditional effect, as they are effective in firms which are more digitally mature. Furthermore, the findings show that the two factors work together, with the integration of both factors resulting in better performance outcomes. The study adds value to the body of literature by bringing together HR practices, digital skills and performance within one analytical framework, and providing valuable practical lessons for improving organizational resilience in the aftermath of the crisis.
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