Dr. Cubie Davis King
“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 get a major makeover, and it’s happening rapidly, yet quietly.
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 workplace platform has already shifted, and most workers haven’t even noticed. Here are some 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), found the following:
1. Artificial intelligence, robots and machines will eliminate jobs at a much faster pace beginning in 2020. The study revealed that over five million jobs will be lost by 2020, and another 36 million jobs will be eliminated by 2030. These are shocking statistics.
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 organizations around the world will be the new normal. The reason? The speed at which technology is pushing new products and services to market requires, no demands, that companies operate with flexible and nimble workforces. Thus, workforces must be nimble and equipped with up-to-date skills- at all times.
Virtually every company now has to compete globally in order to stay in business. It’s no longer a choice as to whether companies want to operate like this, it’s a mandate that they operate using this new platform.
Here are two additional statistics that should get the attention of human resources departments everywhere. 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 and skills – thus, causing global talent pools to shrink significantly).
2. Only 25% believe that an invention they create belong to the company they work for. They believe they should be the be the ones profiting 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.
What are you doing to update your workforce skillsets for the new industrial revolution that will be lead by artificial intelligence, robots and machines?
Reinvent yourself, your managers, and your workforce now!
© Cubie Davis King. All rights reserved internationally. Permission to use in any form must be granted in writing by the author.
Dr. Cubie King is author of the new book Reinvent Yourself- Now! A must read on how employers and employees alike should prepare for the 4th Industrial Revolution that will be powered by artificial intelligence, robots, and machines.