About this Author
Jeff Schwartz, a senior partner at Deloitte Consulting, is renowned worldwide for his insights on the future of work. Suzanne Riss, an accomplished journalist, also contributes to this conversation with her award-winning perspectives. Together, they offer invaluable guidance and analysis on progressing through the evolving landscape of work.
2021
Business & Money
Management & Leadership
11:39 Min
Conclusion
7 Key Points
Conclusion
The pandemic accelerated workplace changes, highlighting adaptability and lifelong learning. Adopt human-centric automation, alternative work arrangements, dynamic teams, and leadership growth. Prioritize skill development, collaboration, and agility to thrive in the evolving landscape.
Abstract
The COVID-19 pandemic caught businesses off-guard, prompting rapid changes in how we work. Jeff Schwartz highlights how it has accelerated trends in workplace transformation. Whether you're a worker worried about job security or a business leader adapting to new norms, Schwartz offers practical guidance. Companies are adopting technology and flexible work arrangements, while automation creates opportunities for collaboration between humans and machines. Remote work is now commonplace, facilitated by technology. Lifelong learning and adaptability are emphasized, alongside the shift towards flatter organizational structures and collaborative leadership. Individuals are encouraged to adopt a growth mindset to steer through the evolving job market successfully.
Key Points
Summary
Covid-19 Pandemic Accelerated Workplace Evolution:
The coronavirus outbreak pushed businesses and workers to make big changes to how they operate, much sooner than anyone expected. Everything from using Zoom for meetings to redoing how products get made and delivered was on the table. This showed us both the exciting possibilities and the dangers ahead in the way we work. If companies couldn't adjust, they risked going under.
When folks discover fresher, smarter methods to get things done, it shakes up the old ways. Like how the internet took over from print ads. But you can actively upgrade your skills and career path. And for businesses, there's a golden opportunity in teaming up with machines. These changes also push policymakers to craft rules that fit the modern work scene.
Human-Centric Automation Drives Innovation:
Algorithms now guide your Netflix choices, while AI handles much of your airline flight. But don't worry, fears about robots stealing jobs are largely based on misunderstandings. Some folks freak out over a stat from a 2013 study predicting that almost half of all jobs would be automated by 2023. But that's not the full story. The study found that machines could handle parts of only 47% of 702 specific jobs. So, the panic about automation taking over isn't as real as it seems.
Advancements in robotics and AI are reshaping the job landscape, making some tasks once done by humans now automated. But fear not! This shift doesn't mean unemployment doom. According to a 2018 report from the World Economic Forum, while automation might nix about a million jobs, it's set to create 1.75 million new ones. Take ATMs for example. They didn't kick bank tellers to the curb; instead, they helped banks expand, creating more jobs in the process. The jobs of tomorrow won't be the same old grind. Instead, they'll demand skills that machines can't replicate: thinking creativity, problem-solving, emotional intelligence, and more.
Harmonize Human-Machine Synergy:
Instead of seeing humans and machines as enemies, think of them as teammates. Robots and AI make things cheaper to produce while also delivering value to customers. Most types of automation can give people more time for creative and meaningful tasks. Companies should focus on using technology to assist workers instead of just automating tasks. For instance, in healthcare, robots help nurses by handling tasks like delivering medical supplies, and they assist doctors in analyzing scans to prevent mistakes in diagnosis.
Alternative work setups increasing:
Around 29% of American workers are now in gigs or freelance jobs as their main source of income. An extra 7% do gig work on the side. But here's the kicker: these gigs pay about 58% less on average compared to regular jobs, and they don't come with perks like health insurance.
Online platforms like Fiverr, Upwork, and Freelancer.com are popular among workers looking for freelance gigs. These platforms connect people globally and sometimes drive down the prices workers can ask for their services. Interestingly, companies are now using these platforms internally. They're not just for finding outside talent; they're also helping employees discover new roles and grow in their careers.
When Schneider Electric introduced its internal job market, it experienced a significant decrease in employee turnover.
Remote Work's Perception Shifts Amid COVID-19:
The pandemic changed everything about where we work. Instead of going to the office, most people started working from home. This happened quickly in 2020 because of new tech like Zoom and Slack. These tools made it easy for teams to work together from different places. After just two months of remote work, Twitter's CEO said employees could keep working from home forever. This shows how much things have changed. Technology keeps getting better, which will make us rethink how we see and experience work.
Two big things will decide how folks work in the future: the jobs they have and how they balance work with life. Technology is bringing tons of possibilities. For instance, the US got its first virtual hospital in 2015, and more are likely coming by 2033. Office spaces will shrink for everyday tasks but grow for events and team meetings. Companies must build a solid work culture and strong team bonds.
Accept Change, Pursue Diverse Learning:
Gone are the days when people stuck with one job for their entire career. Nowadays, workers switch jobs about every four years, needing to keep learning new things to stay valuable. In today's fast-paced economy, lifelong learning isn't just a good idea; it's a must. You've got to be ready to adapt and reinvent yourself all the time. So, what skills should you focus on? It's a mix of tech stuff like STEM (Science, Technology, Engineering, and Mathematics) and basic computer skills. But it's not just about tech. You've also got to be good at dealing with change, connecting with others, and managing your time and resources well. But it's not all about hard skills. Soft skills like imagination and emotional intelligence are important too. They help you think creatively and understand people better.
Creative and relationship-focused jobs are hard for robots to take over. People who study liberal arts " and get good at talking and thinking critically " might have just as good of careers as those in science and technology. Companies need to give their workers more chances to learn while they're working, and they should use flexible and teamwork-based ways of learning. If you're a worker or a student, you can learn lots of different things using websites like Khan Academy and massive open online courses (MOOCs).
Empower Teams, Flatten Hierarchy:
Forget the old-school office setups! Today's workplaces are all about teamwork and flexibility. Instead of rigid hierarchies and isolated departments, successful companies now thrive on dynamic teams that work together across different areas. These teams come together based on projects and tasks, making sure everyone's skills are put to good use.
Businesses need to adopt five essential stages of a team-oriented mindset.
In a fast-changing world, businesses need to stay nimble to meet evolving customer needs. For example, take Tencent, a Chinese social media platform. They're all about flexibility. By forming partnerships, they can offer a wide range of services, from messaging to food delivery, all the way to handling taxes.
Redefine Leadership's Purpose:
Old-school top-down structures aren't cutting it anymore for most businesses. The modern executive team needs to work together like a well-oiled machine as they guide their non-executive colleagues. Today's leaders should tackle business problems with a fresh outlook, and understand their team members on a deeper level.
When leaders adopt a coaching approach, focusing on future performance rather than dwelling on past efforts, they tend to achieve superior outcomes. Regular check-ins with team members allow leaders and employees to grasp what's effective and what needs adjustment to reach desired goals. Leaders should motivate employees to prioritize enhancing the consumer experience. They should facilitate swift prototyping, testing, and refinement of promising ideas, which are fundamental aspects of design thinking. The emphasis should be on creating products and services that convey significance and value, where cost becomes less crucial in comparison.
Adopt a growth mindset for the future:
Switching to a growth mindset is crucial. People with this mindset believe they can improve their abilities, skills, and intelligence. On the other hand, those with a fixed mindset think talents and smarts are fixed from birth. They don't believe in development. To pave the way for a thriving career, here are seven ways to adopt a growth mindset:
Businesses should team up with their employees to help them shape flexible and strong careers. Let's empower workers to try new things and focus on making customers happy. By giving them chances to learn and explore different roles, we can boost their skills. Automation can also help by handling repetitive tasks, freeing up time for more creative projects. When it comes to leadership, value networking, and teamwork skills. To get ready for the future of work, the United States needs to update its institutions and laws to match how jobs are changing.
Share: