The Future Of Work In An Evolving Economy

By Hithakshi Kotyan

What does it take to succeed at work? A premium pedigree? Or a relevant industry exposure? May be both!

The future of work is progressively transforming through technological advances coupled with exceptional talent to meet the demands of the Fourth Industrial Revolution. No longer there are demands for a 9-5 workforce but a desperate need for change makers, innovators, automation drivers that dilute conventional methods of operation and introduce sustainable workplace practices.

But the question is - Is technology the only medium of progress? What about workplace relationships? 

 

Individual and team efficiency, stakeholder management, customer relationships require "softer" elements of one's personality to build and cement bonds. While technology can aid in managing the product lifecycle, "soft or people skills" help sustain business relationships.

This book is an exploration into research by The World Economic Forum that outlined Top 10 Soft Skills that will lead the way in an evolving economy. It also showcases the best people practices adopted by corporate giants like Apple, Google, Amazon, Starbucks, Tesla and more.

 

You will also be able to practice reflection exercises to strategise your career expansion. 

• Language: English
• Publisher: Hithakshi Kotyan
• Release date: Oct 17, 2020
• ISBN: 9781393599609

Book preview

Unfortunately, some people believe that soft skills aren’t that important. However, almost every employer I’ve ever talked to about this disagrees. In a world where job roles are changing rapidly, soft skills will be one of the few constants.

Chris Jones, Chief Executive at City & Guilds via backingsoftskills.co.uk

Introduction

WE ARE IN 2020. I WRITE this book in the middle of a grueling pandemic. The global outbreak of the novel Coronavirus, an unusual deadly respiratory disease has sent the world in a massive tailspin causing continuous rise in infections and high mortality rates. The World Health Organisation termed this as one of the deadliest viruses affecting mankind. This outbreak led to a complete lockdown around the world to combat community transfusion. People are asked to stay indoors indefinitely, streets are deserted, public transportation has come to a halt, and the global economy is plummeting each day.

As infections rise, so does the case of mental health illnesses due to organisations either announcing remuneration curtailment or massive layoffs that render people hopeless and directionless during the pandemic.

The world is in the process of a massive churn and the new normal in the post pandemic era will craft an altered reality.

This raises some big questions.

What would the new normal look like?

How will the global economy recover?

How would organisations reset and redefine workplaces?

Would we still be able to relish community spirit like before?

Would remuneration cuts and layoffs be restored?

What skills will be in demand in the post pandemic?

The route to professional expansion is mired with complexities especially in a bruised economy like now. There are many factors to deal with.

Should you go onto a technical boot-camp? Probably, enroll in a digital marketing course? Brush up on communication skills? What should you do to excel at work?—Are few questions professionals struggle with regardless of the nature of work they currently do.

The World Economic Forum (WEF) simplifies this for us. Research conducted by WEF revealed that 2020 will be the Fourth Industrial Revolution that will bring about massive alterations in the way we operate. Technology will play a vital role in growth and effective functioning of the economic wheels.

They surveyed 350 professionals across 9 industry sectors in 15 of the world’s biggest economies to conclude top 10 skills for the Future of Jobs. The intention of the survey was to anticipate technological advancements that will transform the employment market and the demand for essential skills to keep up with workplace evolutions. In a world heavily influenced by artificial intelligence, virtual reality and automation, professionals will need to be technically sound and smart. 

With such massive changes around the globe, a lot of professionals are forced to revisit their career strategies and be prepared for changing dynamics in the future of work.

KEEPING THAT IN MIND, ask yourself the following questions: -

1. What has changed in my working sphere and how is it affecting me?

2. How has my role evolved in the last 5 years?

3. Am I skilled enough for a changing career roadmap?

4. What sort of roles can I expect post the pandemic?

5. What technical and soft skills do I further need?

According to The World Economic Forum, the top 10 Skills required for a thriving professional are:-

Complex Problem Solving

Much as we know of technology easing up our lives, it can also be the cause of confusions and complications. For instance, you can use technical vestures to map your walking patterns and heart rate to see how it functions but without human intervention, it is not feasible to measure the impact. This is where skills in solving complex problems emerge. Despite technology being the forefront of all inventions, without interacting, brainstorming and driving root cause analysis, all our attempts turn futile. As organisations adopt a more agile approach, the need to have exceptional talent that can gauge and resolve complex issues in a short turnaround will be in demand. 

Critical Thinking

As technology creates scope for advancements, the need for human intercession to create hypotheses, employ logical and reasoning capacities will increase. This will in turn enable technology or machines to function optimally. The need for employees with a critical mindset to evaluate the possibilities and limitations of technology proves to be advantageous to the businesses, people and processes. Professionals with a critical mindset can save organisations millions of dollars by nipping technical issues in the bud at preliminary stages. Hence, the need for sharp, critical and evaluative minds will be a recurring need. 

Creativity

When people think of creativity, the most obvious considerations are the artistic individuals like graphic designers, illustrators, painters, interior designers, architects, writers. As much as an artist can be creative, so can software