by Cubie Davis King, PhD.
“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. Its scale, scope, and complexity…will be unlike anything humankind has ever experienced before.”
Klaus Schwab, Founder and Executive Chairman of the World Economic Forum
The workplace, as we’ve known it is about to change, and change rapidly.
What is causing these rapid changes? The rise of artificial intelligence, robots, and machines. From sea to shining sea, these changes will be felt globally.
I know. Most people would rather hear only good news, because we are wired this way. And often the bearer of bad news gets hated on.
However, be it as it may, these are not normal times, and everyone punching a clock should pay close attention to what is happening in today’s job market.
The entire workplace platform has already shifted, and most workers haven’t even noticed. Here are statistics every worker and every organization should familiarize themselves with.
A recent *study of Chief Human Resources Officers (CHROs) from 371 leading global employers, representing 13 million employees, across 9 industry sectors, in 15 major developed and emerging economies (this was a huge study). The study found:
1. Artificial intelligence, robots and machines will eliminate jobs at a much faster pace beginning as soon as 2020. The study revealed that five million jobs will be lost by 2020, and another 36 million by 2030. These are sobering numbers.
2. Today, only 42% of companies rely solely on salaried (or permanent) employees. The very idea of permanency for employees is on a downward trajectory, and there is every indication from CHROs that this trend will continue well into the future.
3. These CHROs expect gig workers to grow by 28% over the next year.
4. They expect free-lance workers to grow by 33% over the next year.
5. They expect contract workers to grow by 37% over the next year.
This new ecosystem, being put in play by leader organization around the world, is the new normal. The reason? The speed at which technology is pushing new products and services to market requires, even demands, that companies now have flexible and nimble workforces, equipped with up-to-date skills- at all times.
This new ecosystem platform allows companies to compete on a globally and thus, stay in business. It’s no longer a matter of whether companies want to operate like this, it’s now imperative that they operate like this .
Additionally, here are two new statistics that should get the attention of human resources departments. According to the Brookings Institute- of Millennials and Generation Z (workers currently 18-35 years old):
1. 75% plan to start their own businesses (they will profit from their own talents- causing global talent pools to shrink significantly).
2. Only 25% believe that an invention they create belong to the company. (they will profit from their own inventions)
This is a major sea change from the Baby Boomer generation (which until now, provided the largest workforce for employers). This new generation of ecosystem workers will alter the course of every company on the planet.
Question: What is your organization currently doing to learn about, address, and embrace the new workplace ecosystem? Are your people reinventing themselves for the future?
© Cubie Davis King. All rights reserved internationally. Permission to use in any form must be granted in writing by the author.
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