The Future of Work is happening now. Maybe not as rapidly as many predicted, but even now it’s already shaking up the market. Although over 80% of the world’s digital potential is still currently unused, technology is unquestionably the first enabler of this change. The other key drivers include: changing company culture, transforming processes, new skills, emerging new business models, workplace transformation, and last but not least, changes in policy.
All of these factors are presented in The 7 Drivers Shaping The Future of Work Report published this month by Talent Alpha – a B2B Human Cloud company. We produced the report together with our partners: Transformant, the Digital Readiness Institute, HAYS, KKS Savills and the Labour Mobility Initiative Association. The report also presents new platform solutions, tools and emerging startups that are already addressing the Future of Work. Are you familiar with new models such as Robot-as-a-Service, Team of Teams and the Human Cloud? Have you heard about such companies as HireVue, Isaak, Robinhood or Catalyte? You can read about all of them in our report.
Machines Creating Jobs
Robotization will likely create more jobs than it will eliminate. According to the World Economic Forum that number stands at around 133 million jobs gained vs 75 million lost. Companies are now automating significant parts of their businesses. Ericsson is set to open its first fully automated factory next year while Tesla’s goal is to run all of its factories without human intervention as soon as it is possible. However, the Fourth Industrial Revolution will still need an army of people with a variety of tech and cognitive skills.
The tech talent gap is approaching 10M vacancies across the US, Europe and China. The market is having to come up with new management and recruitment strategies, new processes as well as initiating intensive reskilling and upskilling procedures.
The Rise of the Gig Economy
At the same time, we are undergoing a revolution in both peoples’ attitudes towards the workplace as well as to the operations of organizations and businesses caused by technology. In the US, around 40% of the workforce are already “gig workers” – carrying out their duties remotely via the Human Cloud on a variety of different platforms. This shift in working patterns reflects personal choice rather than economic necessity.
Companies are starting to face up to the fact that they will not be able to have all the employees that they require. According to Staffing Industry Analysts, the Human Cloud is rapidly expanding as large companies pursue greater workforce management flexibility and access to immense global talent pools, particularly those in regions most affected by these talent shortages.
Changes Everywhere
Hyper-connectivity and cloud computing platforms allow us to work and collaborate from anywhere in the world. The variety of As-a-Service solutions enable flexibility, choice and support the development of the Gig Economy. Voice and facial recognition, IoT, and wearables help track our activity and support HR and recruitment processes. Offices have become activity-based flexible workplaces, and company culture and processes are changing in order to support diversity and inclusion as well as employee-driven continuous learning.
Are You Prepared?
According to Gartner, only 9% of HR managers admit their organization is ready for the Future of Work. If people in such positions don’t feel prepared, then who does?
We partnered with numerous experts who advise companies on how they can stay up to date with the current trends and other prevailing market conditions and look to nurture higher value skills that require flexibility and creativity. The World Economic Forum identifies leadership agility, social influence as well as emotional intelligence as some of the most in-demand skills needed for the future.
We should also be prepared to answer a number of questions regarding our openness to change and privacy. Am I ready to work for a lower salary albeit on a part-time basis? Would I be able to continually learn new skills and tools during my working life? Am I ready to wear a tracking wearable (20% of US citizens will be wearing one by 2021) and be subject to social scoring? These answers will help shape our organizations, policies and the Future of Work.
More information, insights and advice can be found in the 7 Drivers Shaping The Future of Work Report.
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About Talent Alpha
Talent Alpha is a Human Cloud Platform that uses Talent Science to precisely match Tech Teams with Enterprise Clients. We are addressing the global Tech Talent Gap head-on by giving access to 700,000 battle-tested IT specialists working in 25,000 small & medium-sized IT Services Companies across Central & Eastern Europe.
Our Human Cloud Platform gives Enterprise Organizations immediate access to this untapped pool of experienced Tech Teams, on demand. By capturing and visualizing over 500 data points about the precise technical skills and cognitive abilities of each IT specialist on our platform, we are able to provide advanced, tailor-made Team Matches for each and every client and project.
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