How the future of work is changing
Alice Muigai
Managing Director at Flexi Personnel I Employer of Record I Payroll Expert I Staff Outsourcing - Kenya, Uganda, Rwanda, Tanzania, Zambia, Ethiopia, Senegal, South Africa and West Africa.
By Alice Muigai
In this article:
- The future of work is remote
- The future of work includes automation
- It entails a healthy work-life balance
- The future of work is flexible
- Talent platforms for non-permanent employees
It’s been more than one year since the outbreak of COVID-19. Since then, millions of people worldwide lost their jobs as a result of the pandemic. According to Common Fund Wealth, over 7.7 million lost their jobs between the months of March and June in 2020 in the United States alone.
The loss of jobs on a massive scale has contributed to an ongoing discussion about the future of work. Many people fear that their jobs will become obsolete with technological advancements, information technology and artificial-intelligence (AI).
According to a report published by McKinsey, over 50% of current work activities today are automatable if companies decide to implement improving technologies. Not only that, but the same report showed that over 375 million people would be forced to change the occupational category to adapt.
But how exactly is the future of work changing? What is the nature of work in the future? Should we prepare for the future and the incoming digital age? The following article sheds light on how the future of work is changing.
What is the Future of Work?
The future of work is a phrase used to refer to discussions about the employment industry and what it’s shaping up to be in the future. The world of work is changing because of many factors, but none more significant than artificial intelligence, robotics, and automation.
Some jobs will be lost in the future world of work, others will be created, and others might entirely change. All discussions, research and ideas related to this topic are what contribute to the future of work.
How is the Future of Work Changing?
Predicting the nature of work while still in the midst of a pandemic is a daunting task. However, it is evident that COVID-19 caused the future of work to happen earlier than expected. Below are some key features of work in the future.
The Future of Work is Remote
For decades now, the idea of technology creating platforms for people to work remotely has been floated around. For such reasons, hybrid models and platforms of remote work are most likely to persist even after COVID-19.
This is great because of a host of reasons. For one, it has proven to be more effective than working in the office. According to a report by McKinsey, over 20% of the current workforce working remotely can be effective as they did in an office setting if they worked three to five days per week.
Not only that, but it is also cost-effective for companies. Because of such reasons, the nature of work in the future will include various models that support remote work.
The Future of Work Includes Automation
The nature of work in the future is tied to technology. The impact of new technologies, digitization, artificial intelligence, big data and robots are likely to boost productivity and generate a lot of wealth in the digital future.
Since the industrial revolution, innovations have helped business leaders find solutions to existing problems in the marketplace. However, these factors have also raised concerns among people regarding the nature of work in the future.
Some people fear their jobs will be lost or be changed entirely because of automation, and rightly so. According to research by Joel Blit, Samantha Amand and Joanna Wajda, over half of all existing jobs could be automated over the next 20 to 30 years.
Not only that, but there are also fears that technology and automation could further increase inequality. Workers whose jobs are not a fit for new technologies will face dimming job prospects, while those whose skills complement technology will benefit.
It Entails a Healthy Work-Life Balance
The younger generation of workers, namely generation X, Y, and Z, are adamant about changing certain aspects of work. One of those aspects includes incorporating a healthy work-life burnout to enhance the employee experience.
Research shows that the new generation of baby boomers are adamant about preventing mental burnout and fatigue. Not only that, but work culture has changed since the outbreak of COVID-19 in favour of a more positive work-life balance.
The Future of Work is Flexible
Flexibility is essential in the workplace. As a matter of fact, 45% of millennials choose flexibility over salary when looking for jobs. For this reason, key analysts have reason to believe that work in the future will be flexible. For employees, such workplace trends could hold the key to higher job satisfaction rates.
Flexibility takes many forms; however, one popular route people take involves becoming freelancers. According to a report, there were over 1.1 billion freelancers in the world in 2019. Not only that, but freelancers are estimated to represent up to 80% of the total global workforce by 2030.
Talent Platforms for Non-Permanent Employees
One key aspect of work in the future entails the prevalence of talent platforms. Talent platforms (better known as freelance platforms) are online websites dedicated to helping non-permanent employees find work in small projects (better known as gigs).
As mentioned earlier, over 80% of the total workforce will comprise freelancers. For this reason, key analysts have a reason to believe that the future of work will also revolve around talent platforms such as Upwork and Fiverr.
In Conclusion
The future of work is subject to a host of many factors, including technology and automation. COVID-19 caused many disruptions that led to the loss of millions of jobs worldwide and many more work from home.
However, it is fair to say that COVID-19 caused the future of work to arrive early. Specific trends have influenced our take on the future of work. Work in the future will be remote, flexible, automated, promote a healthy work-life balance and feature numerous talent platforms.
The impact of technology and its transformative nature cannot be understated. Many fear that it will destroy jobs. However, it will also create new employment opportunities.