The Future of Work: Trends, Risks & Opportunity

Kingston Human Capital
The world economic forum recently released a report that gives cause for concern but equally, optimism and opportunity for organisations willing to be prepared.

Transcript


I want to share with you new research by the World Economic Forum that takes an incredibly detailed look at the trends and risks that are likely to affect all of our jobs in between 2018 and 2022. Now their research is based around surveys of chief HR officers and chief strategy officers from 12 industries and 20 economies globally.



The report found that 54% of employees within large organizations would need significant up and re-skilling in order to take advantage of the growth opportunities that would come along with the introduction of automation and these new technologies. Now at the same time, just over half of the organizations interviewed indicated that they would only up-skill key roles so those individuals that are in core roles within their organizations.

 

The report presents a vision of the future that provides grounds for both optimism and concern. Compared to a similar report that they released back in 2016 that covered off very similar grounds, the outlook for job creation is much more positive as businesses are gaining a better understanding of the impacts that automation will have on their own organizations.

 

At the same time, they predict that the distribution of automation will definitely have an impact on our roles. The report warns us that by the year 2022, we're likely to see 75 million roles displaced globally, such a lot of our jobs that are going to be at risk.

 

However, it's not all bad news. Because with the introduction of new technologies, there's going to be the introduction of new jobs. And they're forecasting up to 133 million newly created roles globally. That's a lot of opportunity for all of us.

 

The roles we're likely to see in increase across all industries will include data analysts, scientists, software and application developers, social media experts as well as any sort of role that looks at enhancing or utilizing technology and taking it that further step.

 

But the good news is that the other roles that are really going to be required are those roles that usually are the distinctively human traits. So the ability to problem solve, the ability to communicate, our social intelligence. So those roles in particular include marketing, communications, even sales.

 

Now should you have any questions, please feel free to visit our site at kingstonhumancapital.com.au.

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