The forces of technology, an aging population and shifting demographics are converging to have a massive impact on today’s workforce.
Companies that ignore these forces or the changes they will cause risk being passed over by their more adaptable competition. For a business to remain relevant, it must be able to effectively handle changes that are continuing to affect today’s workforce.
While there are bigger forces affecting the modern workplace, no one factor is changing it faster right now than technology.
One major technological change is the ability to perform work remotely over the internet. In addition to increasing staff flexibility, this also allows for a greater use of contracted workers, who may perform work over any high-speed connection. Companies have and should use this workforce development to their advantage, but doing so effectively means being able to communicate with these remote workers.
Another change that has been making a lot of headlines lately is the growing prevalence of workplace automation. According to a recent investigation from McKinesy & Company, less than 5 percent of jobs can be completely automated with existing technology. However, around 60 percent of jobs could have 30 percent or more of their job duties automated. To put it simply, automation is probably going to impact most jobs, at least to some degree, which will warrant considerable job redefinition and an adjustment of company operations.
Millennials are slowly becoming a bigger chunk of today’s workforce, but Baby Boomers aren’t exactly rushing out the door either. Those nearing retirement age are healthier than ever and many older people are deciding to stay in the workforce longer – partly to ensure a better nest egg for retirement.
With the labor market currently very tight, moving to fully leverage the efforts of older employees can be a crucial competitive advantage. Companies should react effectively to age demographics through company policies, including mentorship programs and retirement plan offerings.
Handling the changes
Company employees always have to be positive and maintain a good outlook, despite any big changes that affect your industry. Management should consider the ways to leverage the abilities and experiences of its workforce, as well as its network to optimize with the confines of the new reality.
Furthermore, companies should always be looking to update the skills of its workforce in the face of constant change. Those skills might be hard technical abilities like learning a new computer programming language. Or, they might be soft skills, like conflict resolution or communicating across geographical or cultural boundaries.
Are you looking for help managing your workforce needs?
At Quanta, we support our client companies in the ever-changing workplace through custom staffing solutions and managed services. If you would like to learn more about how we can help your company, please contact us today.