are impacting the world of work?
- Technological change and advancements
The Internet of Things (IoT), automation, machine learning and artificial intelligence (AI) are all getting plenty of airtime now. Some observers say this is the future but, in many respects, it is happening now. Various research reports suggest that in the next 10 years around 40 per cent of jobs will be replaced by AI or machines.
- Globalisation
In an ever “shrinking world” the impact of globalisation is huge in terms of our economies and societies. Trying to secure your next promotion is now more competitive than ever as a result.
- Education transformation
Because of the rapid pace of change, the skills and experiences that employers are looking for to fill jobs now and into the future are increasingly disconnected from what the education sector is delivering. Keeping pace of skills for tomorrow is one of the many challenges facing the education sector. The further studies you may be doing now or in the future may no longer be relevant to the job or career you have in mind. As such you should be aware that the education sector itself is undergoing major transformation when considering the future of work and related training and development.
- Entrepreneurs
There is an increasing number of people who want to run their own business. This will impact the traditional workplace but at the same time the importance of “intrapreneurs” is equally as valuable to mainstream organisations. If you are considering starting your own business there are many pros and cons but before starting be very clear about what (business) problem you are addressing.
- The “gig economy”
As with the rise of those wanting to run their own business the growth of the gig economy is also having a major impact on the workplace. Some 40 per cent of the workforce is engaged in the gig economy. In a gig economy, temporary, flexible jobs are commonplace, and companies tend toward hiring independent contractors and freelancers instead of full-time employees. Perhaps this is in response to the rise of automation and AI, but also a generational shift where individuals want to have more flexibility over their careers.
- Flexi
Employers understand that offering flexible working arrangements is part of a modern workplace. Of those employers that do offer flexibility, the types offered range from telecommuting or flex-place options, part time employment, flexible leave, job sharing, career breaks and phased retirement.
While flexible work was once pretty much the exclusive domain of employees with caregiving responsibilities, today a wider range of employees want to access flexible work arrangements for a greater number of reasons.
There are pros and cons to offering workplace flexibility, so the answer lies in taking a balanced approach. On the plus side, employers can use their willingness and ability to offer flexible work to drive attraction and retention of talented employees as well as staff engagement. On the downside, managing a workforce that is not all at work at the same time takes greater effort.
But overall, we believe that flexible work is here to stay and that it offers the potential for productivity gains and greater levels of employee engagement which both boost a company’s bottom line while also offering benefits to the national economy. There are other environmental factors influencing the world of work now and into the future.
So, what does this mean for you?
To be future work ready, and able to take advantage of the changing nature of work, you should firstly have the right mindset: be positive, have learning and intellectual agility, approach change and the future of work with a positive attitude.
Understand what changes are taking place, talk to people in your network and know what is happening so that you can take the right projects, training and educational courses that will align you to a career that will make you in demand in the future.
Be prepared to change, pivot and follow a different path. Don’t be afraid of change or transformation. Harness it and make it work for you.
