Context for
the Future
of Work
Our analysis provides a common entry point for a business audience to cut through the noise, navigate the issue and engage with the current debate.
Work is facing complex disruption in the face of three inter-connected forces:
Rapid technological evolution
The unprecedented pace of development and adoption of new technologies is raising concerns of mass job displacement and job losses while accelerating changing work patterns and challenging how commerce and companies’ function.
Socio-economic polarization
This is exacerbated by global socio-economic polarization – driven by climate change, rising inequality, shifting demographics, migration pressures, increasing urbanization and political backlash against globalization – all of which impact on the global labor market.
Workforce expectation shifts
Meanwhile, the expectations of the workforce are shifting. Income security, transparency, inclusion and equity are now fundamental requirements, while the ability for companies to provide flexibility, opportunity and meaning are becoming critical differentiators.
Emerging technologies are rapidly transforming the world of work…
The adoption of robots is accelerating worldwide, threatening manufacturing jobs whilst the rise of artificial intelligence is changing the value of professional work.
[/et_pb_blurb_extended]all within the backdrop of global socio-economic polarization…
Climate change
The shift to a green economy highlights the need for a just transition.
Income inequality
Automation will disproportionately affect vulnerable groups.
Digital divide
The global skills gap is at an all-time high and is likely to rise.
Demographics
Population growth and aging leads to labor surplus and shortages.
(De) globalization
Lower technology costs are reshoring manufacturing jobs, but talent can come from anywhere.
Migration
Migrants bring both opportunities and challenges for labor markets and social contracts.
Urbanization
The relentless rise of megacities increases the social and political divide.
Political backlash
Protest is rising against globalization, multilateralism, consumerism, capitalism and even democracy.
making it harder to meet people’s shifting expectations.
Income security:
Employment preferences vary across the globe, but the desire for income security is universal.
Equity:
Fairness between colleagues in companies and in society is fundamental.
Meaning:
People increasingly seek meaning in their work…
Community:
..as well as a sense of engagement with others in that work.
Growth:
People value personal and professional growth…
Opportunity:
…employers that support continuous opportunity…
Flexibility:
… greater flexibility on where and when to do that work, as well as work-life balance…
Autonomy:
…and greater freedom on how that work is done.
Social concern:
People are worried about the impact of technology on society…
Employment confidence:
…but feel confident about their own future employment prospects.
Trust in business:
People trust business but have high expectations.
