What is happening to the future of jobs?

How the long-term impact of the past 12 months disruption come to pass is likely to be the defining feature of the rest of our working lives and have a lasting impact on the careers and prosperity of future generations.

Existing trends have accelerated, and parts of our economy have faced disruptions not normally experienced outside of wartime.

For business owners and individuals alike, the key challenge at the start of 2021 is how do we make sense of what’s going on and how do we apply it to our own situation.

This insight builds on the recent Future of Jobs report from the World Economic Forum which highlights the key trends that are impacting job opportunities across the globe.

These eight key trends are combining to share the future of jobs:

1.       Technology adoption continues at pace and is getting faster.

2.       Automation plus the pandemic is creating a ‘double disruption’ which in turn is driving further inequality

3.       The jobs of tomorrow will outpace the jobs being destroyed today but slowly.

4.       Skills shortages continue to be a factor for in-demand sectors and job roles.

5.       Online home working means the future is now for the white-collar workforce.

6.       Online training is on the rise but the window of opportunity to reskill is shortening.

7.       Employers increasingly recognise the value of investing in people and society.

8.       Governments need to provide strong support for reskilling displaced workers.

What does this mean for you and me, and our businesses?

In short, technology is a one-way bet – every business needs to adopt the best tech it can to have a competitive future and have the skills within its workforce to optimise for efficiency and effectiveness.

Business owners will need to take the lead in equipping their current and future workforce with the digital and soft skills to remain relevant; and provide the blend of flexible working and enlightened corporate culture that attracts the best talent.

We all need to be alert to how we support those around us whose livelihoods are displaced by the dual impact of automation and the pandemic, acting with compassion and resourcefulness to make sure our peers and neighbours aren’t left behind.