With the transformation of business, economy and employability factors, future of work has been passing a significant drift. There are several facts to know about the future jobs. People need to know some career facts, how technology, data science and other issues will change future of work. This article intends to share 16 facts for everyone to know about the future jobs.
At the same time, demographic variables and increase, need for the consumers, and influence of technological boom have caused the future of job a reality for millions of workforce and business organizations around the globe.
Need for accepting the change, as well as to keeping pace with the transition, which are further overwhelmed by the need to skills, experience and self development initiatives have forced the job seekers and employers to accommodate.
As per the source, in April 2010, there were 2.37 people per job.l in the U.S. In 2016, the statistics was 2.23 people per job.
Future job trends
Following is prediction on what need to know on the future job patterns, to keep pace with them.
The process of automation will be found more different in different industry sectors. Adoption of new technologies will be continued in various industries. Automated software, gadgets and apps will be dominating the working environment in the organization.
2. Technological boom
Technological appliances, innovative tools, gadgets, accessories and approaches has been continuously bringing attracting the corporate houses. Machine learning, augmented and virtual reality have got momentum for considerable business investment around the rich countries
Machine will be beguns to work on reasoning and decision-making, administrative, information search, communicating, interacting, coordinating, managing and advising.
Robots will take place of many manually some job before. Artificial intelligence will be controlling production, supply chain and manpower mobilization in the corporate organizations. Different types of robots like, stationary robots and movie robots are getting popular day by day.
High speed internet has already in it’s action since the last two decades. The situation will be leapfrogging day by day. High-speed mobile internet has bring the networking and connectivity cheap and accessible to major communities.
5. Population surge
As per a statistics, in May 2016, there were 151 million employed people among the 253 million in the U.S. that made up the civilian noninstitutional population. The employment–population ratio was 59.7 percent. There were 7.4 million unemployed people in May 2016. The civilian labor force (the number of employed plus the number of unemployed) was 158 million. The unemployment rate (the number of unemployed divided by the labor force, expressed as a percentage) was 4.7 percent.
An statistics reveals, in April 2010, about 130.1 million nonfarm payrolls we’re available in the U.S. In 2016 July report, there were 144.4 million. Hence, 14.3 million jobs had been added to the economy over that specific time span, whereas the total population has grown by 15.4 million.
On average, 205, 300 jobs are required to be created every month just to keep up with population growth, It is estimated just by keeping the unemployment situation constant.
With it’s vast influence, digitization will encompass working force to adjust with it. Big data analytics, cryptocurrency, and cloud technology are set to mobilize complex and unpredictable new world of work.
7. Cyber security
With the openness of information, companies will be facing more challenges in upholding their data security. Workforce expert in cyber security will be on demand amid all it’s transformation. Companies will be more concentrating on their security system, that will enable them to rely on cyber security experts and policies. Occupations such as Data Analysts, Software and Applications Developers will be on the rise.
As per the statistics, 24% of the U.S. people in 2010 were under 18, which was more than 74 million people. Millions of them have since included into the labor force. Millions of youth who were then at the teenage, at twenties and in college or grad school now accomplished their education and skills development.
These millennials have rushed to the job market in very large ratio. Many more non educated skilled and unskilled workforce are also in the streamline. Millennials are now in the job with their different style of professionalism, interest and speed.
10. Baby boomers
The US Census Bureau estimates that the birthrate (2016) was 8.6 per minute, where 4.6 people died that time every minute, plus 2 inbound immigrants (“net”) per minute, that in total get of nearly 6 folks every minute. Upon maturity, everyone of them is added to labor force, where as the baby boomers are still fit, energetic, experience and healthy which don’t encourage them to retire.
9. Industrial Revolution 4.0
Disruptive technologies will radically transform the workforce of the Fourth Industrial Revolution.
By 2020, the 4th IR will exhibit high tech robotics and advanced transport, as well as artificial intelligence, emotional intelligence, machine learning, advanced materials, medical, biotechnology and genomics.
The burning need of change of skills and exceptional talent, creativity, productivity, ability to crash barriers will be able to develop quality genius through the intensive process of collaborative learning. Bypassing the formal PSET system, a new way of learning and training is in action to produce future focused skills.
Affluence of e-commerce industries has transformed physical existence of business, as well as real office staff. Instead, online shop, controlled by virtual offices, dbots and employees has set a craze for the workforce.
Occupations such as E-commerce and Social Media experts will significantly be risen up depending upon the technology.
11. Openness of Information
We live in the era of collaboration and sharing. Information has been valuable, and it has been open through internet. When you have information, and also, have access to it, you will be mighty in respect to business, strategies and professional life.
This availability of the desired information and facts have shifted the challenges of future workforce by collaboration, sharing, innovation, responsiveness and collecting feedback.
12. Job disruption and transformation
Emerging professions is predicted to grow from 16% to 27% by 2023. On the other hand, jobs which have technological obsolescence will be declining from 31% to 21% by the same time.
It is estimated that more than 75 million current job positions might be null by the drift in labor between humans, machines and algorithms. On the contrary, more than 133 million new job roles might be existing by 2023.
13. Human jobs
Many jobs that require human qualities role will also be in action.
Jobs like, Urban Planner, Customer Service Professionals, Tech professionals, Sales and Marketing Workers, Energy experts, Training and Development, Strategic Planner, People and Culture, software engineers, Organizational Development Specialists, Aviation professionals, Innovation Managers, Medical and nursing, etc. will still be available for eligible workforce. It is one of the significant facts to know about future jobs.
14. Transformation of labor
In the coming days, a division between humans being, robots (machines) and math (algorithms) will be shifting drastically.
A source says, 71% of total work hours are currently covered by humans work forces. The rest 29% jobs are completed by machines, emotional intelligence or algorithms as a whole.
By the next five years, this average is projected to be transferred up to 58% task hours to be accomplished by humans workforce, and 42% to be completed by machines, emotional intelligence or algorithms.
By the year 2022, more than 62% of companies will greatly be depending upon machine for accomplishing data processing, information search, HR and transmission, etc.
15. New skills for new tasks
It will be very significant challenges for human being to acquire the new skills those might be useful to keep pace with the imminent changes for future jobs. There will be a greater drifting in skills requirements by the next five years.
Apart from skills stability as it is now, professionals will find an average transformation of 42% in required workplace skills by 2022.
Skills in demand for future
- Analytical thinking
- Active learning
- Technology design
- Social skills
- Technology competency
- Proficiency in new technologies
- Originality and initiative
- Critical thinking
- Negotiation will
- Attention to detail
- Complex problem-solving
- Emotional intelligence
- Social influence
- Service orientation
16. Learning lifelong
This workforce drift will enforce many changes in the future. Industrial units and geographical reality will be hiring external experts, temporary staff and freelancers to meet up their skills gaps through skills audit process. It is one of the crucial facts to know about future jobs.
A holistic action plan in the areas like: workforce planning and distribution, reskilling and upskilling will be the catalysts for a positive, proactive authority of this changing trends of future workforce.