It aims to shed light on the pandemic-related disruptions in 2020, contextualized within a longer history of economic cycles and the expected outlook for technology adoption, jobs and skills in the next five years. A significant share of companies also expect to make changes to locations, their value chains, and the size of their workforce due to factors beyond technology in the next five years. It then reviews the expected effects on employment levels and skills profiles in different job families, indu… Skills gaps continue to be high as in-demand skills across jobs change in the next five years. We might also be able to spend less time at work and more time doing other things. I became more aware of women slowly giving up their career because of... As we advance in the Fourth Industrial Revolution, data will become an even more valuable commodity. Forum’s 2018 Future of Jobs Report, globally, the labour market transformation brought about by the Fourth Indus-trial Revolution may lead to the creation of 133 million new jobs and the simultaneous displacement of 75 million jobs over the 2018–2022 period. The attractions include high rewards for high-flyers. Please take this survey and share your thoughts, and you can request a free copy of the research report. “Because of technological advances, technology’s role within the organization is itself shifting,” says Satish Alapati, CIO of Media & Entertainment Customer Experience at AT&T. We use cookies to improve your experience on our website. A 2019 Gartner organization design survey found that 55% of organizational redesigns were focused on streamlining roles, supply chains and workflows to increase efficiency. The Future of Jobs report maps the jobs and skills of the future, tracking the pace of change. It touches, first, on the expected trends, disruptions and drivers of change transforming business models in every industry, with far-reaching implications for skills, jobs and the nature of work. On average, employers expect to offer reskilling and upskilling to just over 70% of their employees by 2025. New categories of jobs will emerge, partly or wholly displacing others. As robotics, AI, the gig economy and crowds grow, jobs are being reinvented, creating the “augmented workforce.” We must reconsider how jobs are designed and work to adapt and learn for future growth. Additionally, it will be important for governments to consider the longer-term labour market implications of maintaining, withdrawing or partly continuing the strong COVID-19 crisis support they are providing to support wages and maintain jobs in most advanced economies. The magnitude of future job creation from the trends described previously and the impact of automation on the workforce vary significantly by country, depending on four factors. Understand what this means for you and explore your options for the future. In addition to the current disruption from the pandemic-induced lockdowns and economic contraction, technological adoption by companies will transform tasks, jobs and skills by 2025. This Report consists of two parts. A weekly update of what’s on the Global Agenda, Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, Centre for the Fourth Industrial Revolution, Schwab Foundation for Social Entrepreneurship. In January this year, the World Economic Forum (WEF) launched the Reskilling Revolution platform with an ambitious goal to provide one billion people with better education, skills, and jo... Where previous calendars measured time according to Before Christ and Anno Domini, the coronavirus outbreak has revealed a new sense of time. On average, companies estimate that around 40% of workers will require reskilling of six months or less and 94% of business leaders report that they expect employees to pick up new skills on the job, a sharp uptake from 65% in 2018. The analysis that forms the basis of this Reportis the result of an extensive survey of Chief Human Resources and Chief Strategy Officers of leading global employers, and consists of four interrelated parts, providing a uniquely flexible dataset that can be recombined in various ways to obtain further specific insights into relevant dimensions of interest (see Figure A1). The Future of Jobs Report aims to unpack and provide specific information on the relative magnitude of these trends by industry and geography, and on the expected time horizon for their impact to be felt on job functions, employment levels and skills. However, employee engagement into those courses is lagging, with only 42% of employees taking up employer-supported reskilling and upskilling opportunities. Comparing the impact of the Global Financial Crisis of 2008 on individuals with lower education levels to the impact of the COVID-19 crisis, the impact today is far more significant and more likely to deepen existing inequalities. A particularly striking finding from our Future of HR 2020 survey — in which over 1,300 HR executives from across the globe participated — 3 in 5 HR leaders believe that the HR function will rapidly become irrelevant if it doesn’t modernize its approach to understanding and planning for the future needs of … The Future of Jobs Report 2020 aims to shed light on: 1) the pandemic-related disruptions thus far in 2020, contextualized within a longer history of economic cycles, and 2) the expected outlook for technology adoption, jobs and skills in the next five years. The Future of Jobs Report is a first step in becoming specific about the changes at hand. Jobs held by lower wage workers, women and younger workers were more deeply impacted in the first phase of the economic contraction. Despite the currently high degree of uncertainty, the report uses a unique combination of qualitative and quantitative intelligence to expand the knowledge base about the future of jobs and skills. Forty-three percent of businesses surveyed indicate that they are set to reduce their workforce due to technology integration, 41% plan to expand their use of contractors for task-specialized work, and 34% plan to expand their workforce due to technology integration. It may also affect female and male workers differently and transform the dynamics of the industry gender gap. By 2025, the time spent on current tasks at work by humans and machines will be equal. Our thanks to all … As business activities restart and reset amid the ongoing pandemic, HR leaders are revising their priorities for 2020-21, but only slightly. Companies need to invest in better metrics of human and social capital through adoption of environmental, social and governance (ESG) metrics and matched with renewed measures of human capital accounting. A new Rasmussen Reports national telephone and online survey finds that 72% of Likely Republican Voters think their party should be more like Trump than like the average GOP member of … But new jobs, some of which we can’t even imagine yet, will be created. Seventy-four percent of companies we surveyed plan to increase spending on HR tech in 2020 to address pressing talent needs. Despite the current economic downturn, the large majority of employers recognize the value of human capital investment. The Future of Jobs Report 2018 Download PDF. An average of 66% of employers surveyed expect to get a return on investment in upskilling and reskilling within one year. By using our website you consent to all cookies in accordance with our updated Cookie Notice. Employers expect that by 2025, increasingly redundant roles will decline from being 15.4% of the workforce to 9% (6.4% decline), and that emerging professions will grow from 7.8% to 13.5% (5.7% growth) of the total employee base of company respondents. New categories of jobs will emerge, partly or wholly displacing others. Those who are unemployed have placed greater emphasis on learning digital skills such as data analysis, computer science and information technology. The Future of Jobs 2020 report partner ADP Research Institute tracked the impact of COVID-19 on the United States labour market. The public sector needs to provide stronger support for reskilling and upskilling for at-risk or displaced workers. Savvy business and technology executives are working together to reimagine how technology delivers business value and competitive advantage. Take the survey to find out the chance of your job changing because of automation. 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