Tracking Future Jobs

The COVID-19 pandemic has significantly impacted people's health and daily lives, including their work, which was forced to change from its previously usual format. This is why we must pay attention to worker capabilities in the future, especially as the COVID-19 pandemic begins to subside.

THE LABOUR MARKET OUTLOOK

In this strange environment, there is a need for a new sort of worker with skills and expertise relevant to the quickly changing global situation. These workers could substantially impact the structure of the sector and the business model. These new and necessary adaptations serve as a stimulus for the economy to become more technologically driven. In manufacturing, robots and automation are utilized to boost job efficiency. According to the World Economic Forum, machines will replace approximately 85 million jobs by 2025. While Human, machine, and algorithm collaboration will create 97 million new employment. And it will be a combination of digital talents and human critical thinking that automation cannot replace. Hence, the proliferation of technological acceleration makes it harder to predict the necessary job skills demanded of new employees while current skills continue to become obsolete.

SKILLs NEEDED FOR 2025

The pandemic's impact on the labor market caused changes in business size and worker demographic. Preparing the labor force for entry into the job market must also include the development of immunity, a diverse set of skills, and the ability to adjust to the needs of a job market affected by numerous crises. Analytical thinking, flexibility, and creativity are the top three abilities required for 2025 to improve the use of artificial intelligence and automation. Digital skills are also the top priority for navigating future disruptions. Nicole Scoble of Global Future of Work Leader highlighted their people's ability to adapt, reskill, and assume new positions at the Bloomberg CEO Forum. In the future, their work ethic, training discipline, ability to learn/unlearn, and ability to work in a team will be more important than any other element.

PREPARATION

For the public sector, it is working with relevant institutions to provide accessible and job-related learning to which individuals ready to have access must be part of the solution. This includes generating incentives for investments in markets and the jobs of the future, strengthening the education and training systems, and providing robust safety nets for unemployed employees. The private sector's primary concern for these significant changes should be ensuring that employees can adjust to a new set-up, up-skill, re-skill, and emotional support. Businesses want a clear understanding of their talent gaps since specific abilities will be in demand for years. This guarantees they get the information they need to adjust and cope with the company's ever-changing future.

We are in a stage of constant disruption where one size no more extended fit all. Businesses should place a high focus on adapting, re-skilling, and the ability to take up new roles should be a top priority for every sector. These skills will be necessary at every stage of operations and will allow us to adapt even more efficiently.

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