Hays releases its latest Future of Work collaborative report

Katherine Fanning

November 19, 2019

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The world is already observing the future of the labor market: robots have permanently entered factories and offices, automation and artificial intelligence are changing processes in companies, the gig economy is revolutionizing HR and recruitment. The growing competence gap and need for flexibility are major changes the market must face. 

The question is, are we ready for it?

The report 'The 7 Drivers Shaping The Future of Work' published recently – prepared by Talent Alpha and partners Hays, KKS Savills, Transformant, Digital Readiness Institute, and the Work Mobility Initiative – describes the factors that have the greatest impact on the future of work. Among them, the authors mention technological transformation, work culture, processes in organizations, the need for new skills, innovative business models, office changes and legal changes.

"We don't know what the future holds, but certainly technology creates new opportunities for enterprises and employees. Even 85 percent of the positions that will exist in 2030 have not yet been invented. At the same time, we are already undergoing rapid changes in the labor market, the best example of which is the development of the so-called gig economy, i.e. a flexible order-based economy." 

Przemek Berendt, Co-founder, President, Talent Alpha

NEW PROFESSIONS AND NEW OPPORTUNITIES

According to the World Economic Forum (WEF), by 2022, 75 million jobs will disappear as a result of automation. Such forecasts raise concerns of many employees – in particular those performing repetitive and reproductive tasks characterized by a high degree of predictability and low dynamics. These changes taking place are already visible worldwide: in Shanghai, 40,000m2 of JD.com warehouse space is served by robots with only five people present. Ericsson is expected to open a fully automated factory next year, and Tesla's goal is to launch factories operating without human intervention as soon as possible. 

However, the same forecasts predict the emergence of up to 133 million new jobs on the global labor market. Businesses will need not only automation, programmers, and engineers who will implement and maintain the work of IT systems and robots, but also experts in fields that do not yet exist today. New specializations are constantly appearing, and presumably there will be plenty of professions related to data analysis, digital transformation, automation, artificial intelligence, as well as online environments.

THE IMPORTANCE OF ORGANIZATIONAL CULTURE

New dimensions of business and the opportunities associated with them cause an increased demand for technological competences. It is estimated that there are nearly 10 million people with such skills missing in the world. The growing gap in the market means that new management and recruitment strategies are emerging. New processes are emerging inside the companies, completely different supplier networks are formed, and there is a need to intensively improve employee qualifications. Organizational culture of companies is also changing.

"The competence gap places pressure on employers and forces them to seek specialists in other regions of the world and demographic groups. This means that in the future the organizational culture of these companies will have to focus primarily on diversity and integration. In conjunction with the aspects taken into account by candidates choosing another job, building organizational culture is becoming one of the key pillars of an effective employment strategy."

Sandra Henke, Group Head, People & Culture, Hays

Hays experts point out six elements necessary to build and maintain a friendly organizational culture. They mention a sense of the sense of work performed, including employees in discussion and joint decision-making, as well as promoting appropriate attitudes and behaviors among management. It is also important for the company to be open to changes and encourage all employees to participate in the process of creating great employment.

The importance of work and the purpose of ongoing tasks are more important than ever for employees. For employers, this means the need to define the company's mission and values ​​that they want to follow, and then use them in all activities. The next step is to involve employees in the decision-making process, listen to their opinions and strive to create the workplace that employees want.

"When undertaking activities related to building an organizational culture, it should be remembered that the example should always go from above. Managers must fully understand and identify with the culture of the organization, work and make decisions based on the company's values, as well as listen to the needs of employees. Remember that you cannot treat organizational culture as an item on the to-do list. It is not enough to create a document describing the behavior desired by the company's employees. Building an organizational culture is a constant process, constantly collecting opinions and searching for areas that need improvement. Importantly, a good organizational culture should be created by the people it affects, and therefore by all employees." 

Agnieszka Czarnecka, Head of HR Consultancy, Hays Poland

Companies wishing to develop and build a competitive advantage will have to ensure employee satisfaction because it is the basis for building loyalty to the employer. The success of any company is increasingly dependent on the skills and knowledge of its employees; employers are aware of this and are strengthening their activities aimed at retaining valuable specialists.

IS THE END OF THE PAPER RESUME COMING?

Equally important for companies will be openness to new models of talent acquisition and forms of cooperation. According to Accenture, on-demand work platforms will become one of the main drivers of economic growth over the next half-decade. SIA (Staffing Industry Analysts) points out that the so-called Human Cloud, i.e. systems and platforms gathering specialists in the cloud, are becoming increasingly popular in large organizations. Until now, they were used only by smaller companies.

What does this mean for employees? On one hand, there are benefits in the form of greater flexibility and independence in the choice of the company and the tasks performed. For many, the advantage of job-based work may also be the ability to maintain a balance between private and professional life by tailoring work. On the other hand, the threats arising from the development of gig economy are emphasized. Candidates will need valuable competences sought by companies as well as the ability to adapt quickly. Another objection is the lack of stability associated with full-time gig work and the financial uncertainty in turn.

However, market experts predict that a healthy balance will be maintained on the market. In the future, companies will strive to change the proportion in employing permanent employees and temporary associates, but key functions related to strategy planning and implementation of procedures will invariably be performed by full-time employees.

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Acerca de Lucas Vargas:

  • Empezó en Grupo ZAP como el VP de Sales y en 2016 cuando la empresa tenía 60 empleados. Fue nombrado COO de VivaReal tomando el mando de Brian Requarth el Co-Fundador. VivaReal lanzó en Colombia y se trasladó a Brasil. En 2017 se hizo CEO del Grupo ZAP.
  • Ha trabajado en Mexico en PWC y en el Banco Santander
  • Tiene un Master de Business Administration de Harvard
  • En noviembre este año después de la fusión de OLX Brasil y Grupo ZAP fue nombrado el CEO del OLX Business Unit. Lidera la empresa junto con Andries Oudshoorn y Marcos Leite
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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.