Revolutionising the workplace: Empowering businesses with future-ready strategies
Our work environment is undergoing dramatic changes, fuelled by both social and technological transformations, including the unprecedented adjustments needed due to the pandemic. It's no exaggeration to say we have leapfrogged five years into the future, as the speed of digital evolution has made 2020 feel like 2025.
The pandemic has acted as a catalyst, driving an irreversible shift in our working patterns. Experts suggest that by 2030, one out of every 16 workers might need to switch occupations. Such wide-scale changes will be disruptive for businesses. Some companies will leverage this disruption to move forward, while others will get left behind.
Unravel the future of work and learn how your business can stay ahead of the curve.
What's driving the workplace revolution?
Ever wondered why a whopping 60% of workers are engaged in jobs that were non-existent in 1940? The workforce landscape is evolving, with several key factors influencing the current changes and moulding the future of work.
Flexibility in work styles
Necessity gave birth to remote work during the peak of the COVID-19 crisis, which provided workers with flexibility and demonstrated to employers that remote teams can be effective. This shift has now become a preference for many. Today, 74% of employers offer a hybrid work model, and 64% of employees prefer it.
Technological advancements such as the metaverse and virtual reality cater to remote teams' needs. Businesses must now plan for a future beyond traditional office settings.
AI: The game changer
It's fair to say that the technology driving the most impactful change currently is artificial intelligence. From daily-use tools like ChatGPT to sophisticated AI algorithms automating supply chains, AI brings a mix of anticipation and apprehension.
With increasing digitalisation across sectors, including telemedicine, and AI automating both manual and skilled tasks, job profiles are changing, and some might even become obsolete. It is estimated that AI could automate a quarter of work tasks, impacting 300 million jobs and transforming the roles in the workforce.
The ageing population
Thanks to healthcare advancements, global life expectancy has risen by 6 years between 2000 and 2019. This increase may continue, affecting the dynamics of the workforce, necessitating constant up-skilling and possible career shifts.
On the flip side, the need for elderly care will likely rise, ensuring roles like caregivers and nurses remain essential even as tech-driven roles surge.
What shifts will define the future of work?
The triad of change - flexible work styles, AI, and the ageing population, are reshaping our work environment, impacting both employees and businesses. Adapting to these changes is crucial to thrive in the upcoming work era.
Rise in demand for skilled jobs
New technology inevitably leads to the creation of new jobs to harness that technology. AI and remote work technologies will likely drive demand for high-skilled jobs, especially in STEM.
Drop in demand for low-skilled jobs
Conversely, AI and other technologies can render some jobs redundant, particularly those requiring low to medium skill levels, such as food service, production work, and office support roles.
Navigating a digital landscape
Those roles still in demand will increasingly lean on technology. Retailers, for example, are harnessing e-commerce to tap into online shopping trends, leveraging digital marketing experts rather than in-store sales assistants.
This digital shift calls for advanced tech literacy, leading to an emerging job category: educators and trainers specialising in emerging technologies.
How can businesses stay future-ready?
As job roles fluctuate and new technologies reshape the skills required, businesses that proactively prepare for the future of work will foster greater success.
Embracing digitisation
Early adopters of emerging tech stand to gain the most. By adopting these technologies, businesses can create a competitive edge, enhance efficiency, reduce costs, and deliver superior employee and customer experiences.
Supporting re-skilling
Given the unpredictable nature of future changes, businesses must support their workforce in adapting to new challenges. Re-skilling reduces apprehension about AI taking over tasks and ensures employees continue to be an asset by keeping pace with the latest skills.
Challenge the status quo
Maintaining the same old practices can hinder growth. In an era of rapid technological progress, businesses must embrace new operating methods. Fostering a culture of innovation across all areas, from management styles to product development, can be a game-changer for success.
Building the future workplace
The concept of a traditional office with individual cubicles is a thing of the past. The future workplace will look very different, be it a physical office fostering collaboration or digital tools facilitating communication. Investments in enhancing the employee experience, whether in a physical or digital workplace, will likely yield positive results.
While the business landscape is evolving rapidly, the core asset of any business will always be its people. Companies that promote engagement, foster creative thinking, and encourage a love of learning can navigate the future of work with agility and profitability.
