Automation & The Future Of Work: How Can You Prepare? [INFOGRAPHIC]

The future of work is almost upon us and the impact of automation can be felt already. We’ve discussed this topic at length, most recently here, herehere and here.

Most importantly: how can your business prepare?

McKinseyandCompany’s recent research on the future of work and the impact of automation on talent demand, was a genuine eye-opener. Insights into the skills which will be in demand – both soft and hard – and the industries upon which these changes will resonate most, are imperative reading. Looking at how the demand for different skills in the workplace will change, is not merely for the early-adopters. If business is to be ready for what we’re calling ‘the future of work’ – a concept which is evidently right upon us – knowledge is your player advantage. So read up, and ready your business: it’s very existence may depend on it.

Future Of Work Infographic Oct-2018

 

The Future of Work: Automation, New Skills, How You Can Prepare

Recently, McKinseyandCompany published research about the impact of technology and how it will affect the economy, business and society. This research has defined the emerging skills required for workers as we look to the future of work. The findings show a projected rise in demand for tech skills, and decline in the need for manual skills. Other findings show an increase in projected demand for emotional and soft skills. Whilst the need for cognitive skills also is expected to grow.

The Impact of Automation: Increase

McKinsey’s research found that automation will impact the demand for workforce skills with an expected increase in the need for…

55% – expected rise in demand for tech skills by 2030

Which tech skills? Basic digital skills, advanced IT & programming

24% – expected rise in demand in social & emotional skills

What else? Leadership, entrepreneurial skills, initiative taking, managing people

____________________________________________________________

The Impact of Automation: Decrease

McKinsey’s research found that automation will impact the demand for workforce skills with an expected decrease in the need for…

Less entry level skills needed: skills like data entry, processing, basic cognitive skills, basic numeracy & literacy.

Less manual & physical skills needed: skills like general equipment operation, inspecting & monitoring

____________________________________________________________

Preparing for the Future of Work

The projected changes organisations are to make, in preparedness for the future of work, are significant. They include:

Structural Change:

More agility in corporate structures with less hierarchy & more collaboration

The growth of the gig economy will change the workforce composition to include more contractors and freelancers

‘New Collar’ Jobs are those where requirements will be allocated to workers with different skills from today, which in turn will create a new class of middle-skills-range positions.
C-suite thinking will need to adjust to accommodate these changes successfully.

Workforce Change:

Improve skills of existing employees by training them in new or more advanced skills

Leverage external workers like contractors, freelancers or temp workers

Shift parts of the workforce by redefining deliverables or redesigning processes

Hire AND let go of people to craft the desired skills for the future of your business. Couple this with the engagement of non-employee workers to establish optimum productivity & workforce ROI

____________________________________________________________

Building a Future Workforce

Building a future workforce, will likely involve transition challenges. But with the right approach to collaboration and using the strategies outlined below, will bode well for success…

Retraining:

* Enhancing skills of existing employees
* Engage educational resources to boost workforce knowledge
* Focus on skills with strategic importance
* Preserves understanding of company culture & IP

Hiring New Talent:

* Enhancing skills of existing employees
* Engage educational resources to boost workforce knowledge
* Focus on skills with strategic importance
* Preserves understanding of company culture & IP

Engaging Contractors:

* Introducing specialist external resources as the business needs it
* Maintains project momentum and delivery timeframes
* Removes the cost of permanent talent where skills not permanently needed

Redeployment/Releasing Staff:

* Unbundling then rebundling tasks within a job to better utilise skills available to a business
* Lay off workers where automation is a better substitute
* Hiring freeze and awaiting natural attrition
____________________________________________________________
Share
Tweet
Share