‘Competition for the right talent is fierce. And ‘talent’ no longer means the same as ten years ago; many of the roles, skills and job titles of tomorrow are unknown to us today”.
Rather than being daunted by this finding by PWC in their report “Workforce of the Future”, PWC provide some excellent scenarios of what 2030 may look like, and what organisations should be planning in order to prepare. The reports is based on a survey of 10,000 business leaders globally. (click on the image to access the full report).
PWC identified five megatrends, or forces, that are shaping the future. These megatrends are:
- Technological breakthroughs;
- Demographic shifts, that is, the changing size, distribution and age profile of the world’s population;
- Rapid urbanization, which involves the significant increase in the world’s population moving to live in cities;
- Shifts in global economic power, between developed and developing countries;
- Resource scarcity and climate change.
Rather than extrapolate these into one potential future, PWC consider four scenarios (or ‘worlds’) based on varying degrees of fluidity between collectivism and individualism, and business fragmentation and corporate integration. These scenarios recognise that there are multiple potential outcomes possible, and that organisations need to ensure they are thinking about a range of futures, rather than betting everything on just one possible alternative. The outcomes of this extrapolation into 2030 are:
- The Yellow World, where humans come first
- The Red World, where innovation rules
- The Green World, where companies care
- The Blue World, where corporate is king
The one common thread throughout each scenario is the rise of automation and the implications of robotics and artificial intelligence (AI), which will result in a massive reclassification and rebalancing of work.
While providing helpful recommendations for individuals and society as a whole, the report also suggests a few things organisations can also do to position themselves for whatever future unfolds:
- Recognise that linear predictions don’t cut it – there are multiple and emerging visions of the future;
- Make decisions based on purpose and values;
- Embrace technology as a force for good;
- Focus on humans and the humane.
This is an excellent and informative report that is easy to read, yet challenging. Leaders looking into the future would do well to consider this report and how their organisation is preparing for an uncertain, but different, future. And Avondale Business School is excited to be able to partner with you to achieve success.