Evolution & Development of Future Workplace

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Evolution & Development of Future Workplace

Urbanization and mobility, globalization, digitalization, demographic shift, and a focus on creativity are characteristics expected to influence the future workplace and its development. As more people move to urban centers, cities will be the main agents of job creation in the future. Globalization is continually changing the nature and composition of the workplace as barriers of conducting business in various part of the globe decrease. Automation and adoption of other emerging technology will change the number and nature of jobs available. Changes in the demographic composition of the future workforce will influence retention of intellectual capital in the workplace. Creativity will be the key skill of the future workplace.

Urbanization and Mobility

  • Today, over half of the global population lives in cities, a trend that is likely to continue into the future. According to the United Nations, by 2030, 4.9 million people will be living in the urban centers. The number is expected to rise by 72% by 2050.
  • Some major cities in the globe already have GDPs bigger that mid-size nations. Thus, increased urbanization is turning cities into important agents of job creation.
  • Moreover, increased urbanization has heightened the demand for new mobility solutions such as electrification, autonomous driving, and e-hailing innovations. However, the onset of COVID-19 has greatly affected shared commuting.
  • The general reluctance for shared commuting may restructure mobility landscape in the urban center with strong repercussions for the future workplace. Remote working has become the norm in organizations.
  • Statistics show that three in four chief financial officers are planning to move at least 5% of on-site workers to permanently remote positions. A survey by Enterprise Technology Research (ETR), shows that 72% of the global workforce is remote
  • In the near future, the rush-hour commute to physical offices will be obsolete, thus changing the face of the workplace.
  • Urbanization and mobility will affect the future workplace and its development because they will determine where people find employment opportunities and how they work.
  • Urbanization and mobility will affect productivity and performance in the future workplace. Adoption of remote working will create a new wave of flexibility among employees in organizations.
  • More flexibility regarding when, where, and how much they work will turn employees in high-performers. New jobs will also emerge where employees will be gauged based on output as opposed to set work hours.

Digitalization

  • Technological breakthroughs are accelerating digitalization, which is changing the modern workplace. Automation, artificial intelligence, and robotics are quickly advancing, hence shaping the future workplace and development.
  • While automation will replace numerous human tasks, new career paths and roles will also be created for humans to work along with machines and offer support in novel ways. As a result, human’ contribution to productivity will take a different shape.
  • Digitalization will demand continuous upskilling and reskilling of the future workforce to match the technology-oriented trajectory. Statistics by World Economic Forum estimates that 50% of employees will require reskilling by 2035 as automation will displace 85 million jobs. In addition, 97 million jobs will emerge.
  • Digitalization is expected to influence the development of the future workforce because it will change the number and nature of available jobs. The trait will affect productivity as technology has the power to raise output and personal fulfillment.

Globalization

  • Globalization will have a profound impact on the future workplace and its development as more companies adopt the trend. The onset of Globalization 4.0 as technology develops has amplified the impact of the trend on the workplace.
  • Considering that the full impact of globalization in the workplace is yet to be realized, the trend will shape the future workplace and its development. Although globalization has been associated with a positive force for good, it has been associated with increased political polarization and resistance to global trade in the recent years.
  • As a result, companies that rely on the international supply chain have been adversely affected. Nonetheless, globalization has facilitated real time and seamless cross-border communications, thus creating a globally managed workpools.
  • Looking into the future, globalization will continue to change the nature and composition of the workplace. As barriers to conducting business in various parts of the work decrease, cultural diversity in future workplaces will increase as people from different parts of the globe work together.
  • Emergence of globally managed workpools with employees working from remote location will also affect organizational talent needs. The transformative, environmental, and social challenges created by globalization will require special talents to address.
  • Virtual and borderless workplaces facilitated by globalization have become more prevalent in the post-COVID-19 world.

Demographic shifts

  • The global population is changing in size, distribution, and age profile. Most regions in the globe have a bigger ageing population, hence exerting pressure on social institutions, businesses, and economies.
  • Longer life spans will impact business models, pension costs, and talent acquisitions. Older workers will require reskilling and worker for longer. In the future workplace, a shortage of human workforce in the rapidly ageing economies will create a need for productivity enhancements and automation.
  • Moreover, with people living and working for longer, the future workplace will have a multigenerational workforce that will present novel and distinct challenges to organizations. However, a multigenerational workforce can nurture considerable value and prospects.
  • Statistics show that 89% of talent professionals believe that a multigenerational workforce improves a company’s success.
  • The rise of the millennials as a result of the demographic shifts will also influence the future workplace. The future employer will have to keep up with the demands of the millennials and other younger generations in the workplace.
  • Demographic shifts are expected to influence the development of the future workplace because they will affect the composition of the workforce. With people working for longer, the workplace will be multigenerational as younger generations join the workplaces.
  • Demographic shifts will improve stability, continuity, and retention of intellectual capital in the workplace. Diversity will also improve because organizations will be hiring people across all age groups.

Focus on Creativity as Opposed to Technical Skills

  • Automation of repetitive tasks will shift focus from technical skills to creativity in the workplace. Employers will be searching for creative employees who can innovate and device new solutions.
  • Creative employees with out-of-the-box solutions hold the future of companies. As the world rapidly shifts to creative workplaces and wall-free offices, the future workplace will no longer be the customary gigantic and flashy offices in cool places of the globe.
  • The World Economic Forum identified five top skills for the future workforce including innovation and analytical thinking, creativity, initiative and originality, critical thinking analysis, complex problem-solving, and active learning.
  • Focus on creativity will influence the development of the future workplace because technical skills will not be marketable. Organizations will be forced to employ the best developers, designers, and UI experts. Organizations must appreciate the influence of modern technological devices and platforms such as smartphones and social media on their survival.
  • Focus on creativity will affect talent acquisition in the future workplace because employers will not be looking for employees with technical skills. Instead, focus will be on creative employees who can find unique solutions in the workplace.


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