What are the components that collectively constitute “the future of work”? Perhaps the logical place to begin is with the forces that are driving these changes (figure 1). Based on our experience and research, we have identified three forces that are shaping the nature of future work and the future workforce:
Technology. Technological advances—for example, in the areas of robotics, artificial intelligence (AI), sensors, and data—have created entirely new ways of getting work done that are, in some cases, upending the way we use and think about our tools and how people and machines can complement and substitute for one another.
Demographics. Demographic changes are shifting the composition of the global workforce. In most places, people are living longer than ever, and overall, the population is becoming both older and younger, with individual nations becoming more diverse. Even more challenging, the younger generations will be increasingly concentrated in developing economies, while the developed economies (and China) get ever older.
“The power of pull.” Largely thanks to digital technologies and long-term public policy shifts, individuals and institutions can exert greater “pull”—the ability to find and access people and resources when and as needed—than ever before. Institutions and prospective workers alike now have access to global talent markets, enabled by networks and platforms opening up new possibilities for the way each interacts with the other. The demand for these platforms will likely be enhanced by increasing customer power and accessibility of productive tools and machines, opening up opportunities for more creative work to be done in smaller enterprises and by entrepreneurial ventures.While there are other forces shaping the future of work, we believe that they are part of the broader economic landscape or integrated with the forces identified above. For example, globalization is a long-term trend, which is reinforced by the technological, demographic, and “power of pull” forces discussed above.
These three driving forces are having two significant effects on work and the workforce.
The adoption of new technology and new work practices poses particular challenges to both business and policy makers. What are the key priorities they should look to address? Chosen excerpts by Job Market Monitor. Read the whole story at The digital future of work: Policy implications of automation | McKinsey & Company Related Posts The Future of … Continue reading
Technology experts and economists are engaged in a growing debate about the effect of automation technologies in the workplace. Some “techno-pessimists” are concerned about the mass destruction of jobs, while “techno-optimists” see considerable productivity gains for the economy that will in turn help create new work opportunities. Technology in the past has tended to create … Continue reading
For young people today, what’s clear is that they’re going to need to continue to learn throughout their lifetime. The idea that you get an education when you’re young and then you stop and you go and work for 40 or 50 years with that educational training and that’s it—that’s over. All of us are … Continue reading
Amazon’s $13.4 billion purchase of Whole Foods, announced Friday, could speed that vision along. Amazon has already made shopping for almost everything involve spending less time waiting, doing work or interacting with people, and now it could do the same for groceries. It’s already trying with a store in Seattle, Amazon Go, that has no … Continue reading
Highlights from the Symposium featuring voices from the world of work, leading thinkers in government and academia, and the youth on the challenges we’ll face in the Future of Work. Related Posts Education, Training and The Future of Work – Five majors issues POSTED BY MICHEL COURNOYER ⋅ MAY 4, 2017 ⋅ LEAVE A COMMENT Some … Continue reading
Some 1,408 responded to the following question, sharing their expectations about what is likely to evolve by 2026: In the next 10 years, do you think we will see the emergence of new educational and training programs that can successfully train large numbers of workers in the skills they will need to perform the jobs … Continue reading
Highlights from award-winning economic historian Robert Skidelsky giving a keynote address about the future of work with remarks by ILO Director-General Guy Ryder.
Gender gap in participation rates is not expected to improve over the coming 15 years Few countries combine an environmentally sustainable footprint with decent work Declining labour force participations rates will exacerbate demographic changes Migration is likely to intensify in the future as decent work deficits remain widespread Global supply chain related jobs go well … Continue reading
Future of Work – We are not facing an employment crisis but a work revolution the World Employment Confederation (International Confederation of Private Employment Services) says
The World Employment Confederation (formerly Ciett) looks into the future of work and urges policymakers to cooperate with the employment industry to determine enhanced international labour regulation As the world of work becomes increasingly flat and interconnected, new global labour policies and regulation are required to deal with issues that go beyond national or regional … Continue reading
Automation, digital platforms, and other innovations are changing the fundamental nature of work. Understanding these shifts can help policy makers, business leaders, and workers move forward. Policy makers will need to address issues such as benfits and variability that these digital platforms can raise. Accelerate the creation of jobs in general through stimulating investment and … Continue reading
Are these types of platforms an economic boon to workers who want a flexible way togenerate income? Or are they the latest sign of worsening income inequality and a fraying safety net for workers? The answer is a little bit of both. Recent research from the McKinsey Global Institute examined the economic potential associated with … Continue reading
The topic of job displacement has, throughout US history, ignited frustration over technological advances and their tendency to make traditional jobs obsolete; artisans protested textile mills in the early 19th century, for example… A conversation Reid Hoffman: If you look at most of the automation, it comes down to man–machine combinations. And all productivity means … Continue reading
Explore the world of work in 2025 in a revealing evidence-based report by future consultants The Future Laboratory and Microsoft, which identifies and investigates ten exciting, inspiring and astounding jobs for the graduates of tomorrow – but that don’t exist yet. Virtual Habitat Designer By 2025, virtual habitat design will offer some of the most … Continue reading