Many more ways to work are emerging, opening up new pathways for organisations and individuals. Pic Getty.
It's hard to imagine a time when the concept of "a job" has ever gone through so much revolutionary change.
In the early 1900s, people campaigned and worked hard to get what was a 48 hour standard working week scaled back to 40 hours. And so by the 1940s we had a legal precedent set for us to work five days a week for no more than eight hours, generally as employees to our bosses. How times have changed.
Now, with the advent of so much new technology and demographic changes, the future world of work has never looked so interesting. Here are some of the big drivers:
1. Automation and AI — machines are replacing many activities now — automating mainly processing and manual work-flows, with the impact that 51 per cent of all activities can soon be done without humans, changing 60 per cent of current jobs (McKinsey, Future of Work 2017). Jobs won't necessarily go, but be re-shaped to build more productivity.
2. Restructuring of the "employee" — no longer is FTE the only option. By 2020, according to Gartner, 60 per cent of companies globally will hire employees, contract workers and freelancers. Many more ways to work are emerging, opening up new ways for organisations to run the HR budget, and individuals to design a career with more flexibility.
3. Changing demand on skills — businesses are now hiring and paying more for new economy skills, primarily, those robots don't offer. Right-brain skills such as problem solving, creativity, design, people management and negotiation, are dominant. With this, more agile ways to learn are emerging — with a growth in app-based and micro-learning portals.
4. Extended workforce — We are all living longer — by 2050 those over 65 will have doubled from 8.5 per cent to 17 per cent of the population. And we are working longer (estimates indicate 20 per cent of us will still be working after 70). Which means people are now seeking a second or third career in their lifetime.
5. Rise of the millennial — the future workforce will be dominated by those born from 1980 to the mid-90s. And what they want from work is different — a strong sense of alignment on values and purpose, over profit. According to PWC's Millennial Study, 88 per cent are looking for corporate social responsibility that aligns with their personal values.
These forces are creating so much opportunity for all of us, if we are prepared to shift our mindset about what we can be paid for, and how.
If you are a full time employee your future could look very different. You can now become a "gig" worker — selling your time and talent to those who want you on a project team. Or you can rapidly and affordably add to your existing skill-set with access to a range of micro-learning courses mainly offered online, from anywhere in the world. According to PWCs Workforce of the Future study, 74 per cent of global employees are now actively upskilling themselves to take advantage of the new economy. Or you can embrace the rapidly growing trend of designing a "side-hustle" — reduce your hours from 40 to 30 and use the time to start building a global business fuelled by technology, from your living room.
For organisations, it's about embracing the opportunity to augment talent that is strong on "right-brained" skills with automation, to immensely increase productivity through co-working. Then look for ways to enable high-value employees to become more "T-shaped" — embracing their core specialism, plus adding a passion — resulting in them staying with you and pursuing their desire to work with purpose and create a second career, within your organisation. The future race for talent is becoming about hiring competency over capability — finding people who can work with you to build the future workforce rather than those who want to simply work for you.
But it won't come without design. Whether you are considering your personal options and looking to capitalise on emerging forces for yourself, or a company owner looking to harness the power of a more productive and agile workforce, you will need to consciously design your future. Spend time understanding the opportunity and impact, generate ideas for your future state, and then set-about to rapidly test your intention. The future is bright, it's just a matter of starting the journey with an appetite for change and intention for learning.
Melissa Jenner is Founder & Managing Director of START Now, a business that helps individuals and companies design sustainable careers. melissa@startnow.co.nz