We encounter the emergence of new industries, business models and behaviours as a result of disruptive innovations. New ways of work – technology, data analytics, social media and ways of communicating are evolving.
Multi generations at work have disrupted the traditional career models, and on how UK business will attract best talent, retain key performers and motivate a talented workforce. And as a consequence, the role of HR will need to change as a result.
The future of work will involve companies that act on purpose around their shared values, all squeezed into three worlds: Orange (small is beautiful), Green (companies care), or Blue (corporate is king) as suggested by PwC in The Future of Work: A journey to 2022 report.
Our FUTURE of WORK Project focusing on the Business Environment & the People Function of the Future, synthesises key insights and transcend a series of Future Horizons Initiatives and Special Features.
The future of work will influence and determine many facets of the future of our societies.
These “three Cs” are qualities of a networked society in which we become individually stronger when we act collectively, and shape the future of work.
There is a need to invest in the skills required in the new knowledge economy
The UK government hopes businesses can address unemployment and the skills gap by creating 3 million apprenticeships by 2020. Also, it’s predicted there will be 12.5 million job due to people leaving the workforce and 2 million new vacancies, with only 7 million young people to fill those 14.5 million jobs. Hence, there’s a need to address skill gaps and competencies for all generations within a Collaborative Engagement Framework.
According to the Tech-Nation latest report from Tech City UK, the digital economy is supporting the creation of new jobs nearly three times faster than the rest of the market.
In addition to the analysis of drivers directly shaping the business environment, the society also faces an evolving set of global challenges that will shape the framework within which social, economic, political, and regulatory changes will be effected.
The Millennium Project, a global future initiative that draws on a network of contributors from over 80 countries has identified 15 key challenges.
1. How can sustainable development be achieved for all while addressing global climate change?
2. How can everyone have sufficient clean water without conflict?
3. How can population growth and resources be brought into balance?
4. How can genuine democracy emerge from authoritarian regimes?
5. How can decisionmaking be enhanced by integrating improved global foresight during unprecedented accelerating change?
6. How can the global convergence of information and communications technologies work for everyone?
7. How can ethical market economies be encouraged to help reduce the gap between rich and poor?
8. How can the threat of new and reemerging diseases and immune micro-organisms be reduced?
9. How can education make humanity more intelligent, knowledgeable, and wise enough to address its global challenges?
10. How can shared values and new security strategies reduce ethnic conflicts, terrorism, and the use of weapons of mass destruction?
11. How can the changing status of women help improve the human condition?
12. How can transnational organized crime networks be stopped from becoming more powerful and sophisticated global enterprises?
13. How can growing energy demands be met safely and efficiently?
14. How can scientific and technological breakthroughs be accelerated to improve the human condition?
15. How can ethical considerations become more routinely incorporated into global decisions?
According to the International Legal Technology Association’s latest report on Future Horizons and Transformational Sources, greater mobility of people and data (selected by 81.9% of respondents) and Increasing globalisation (63%) were ranked highest to drive business over the next decade: