Future of Work in 2021- 4 Trends You Should Look Forward to
We are still surviving the consequences of the pandemic. Despite somewhat of a recovery, how this change will affect the world of work is debatable. Here are our predictions for the future of work in 2021.
Uncertainty about the future is one of the biggest challenges the business world is facing today. 2020 was a crucial year for all humankind. Even though we have somehow made it across the hard part, there are still more challenges to come. And from these challenges, new trends will emerge that will completely evolve industries and change the face of work culture.
What are these changes (or trends) and how will they impact the business world? Let’s take a look.
1. Advancement of the Gig Economy
India’s gig economy is expected to grow at a CAGR of 17% to $455 billion by 2023, says The Associated Chambers of Commerce and Industry of India. In the Gig economy, companies tend to hire independent consultants and freelancers instead of full-time employees.. After Covid hit, many businesses turned to gig culture, as a result, the number of temporary and short-term job opportunities also improved.
More companies are turning to hybrid work models which boost the gig culture. Experts are predicting greater chances of these hybrid models and remote work culture ruling the market as gig culture thrives. Although, it might sound difficult for the organizations who are new to gig culture, it is here to stay and hence necessary precautions should be taken to manage the unexpected turns.
2. Unavoidable Technological Advancements
Quarantine and lockdowns made employees more close to the virtual world. Starting with virtual conference tools to engagement monitors, companies are indulging with technological solutions more than ever before.
Since most millennials and baby boomers are more familiar with new technologies,they might not be required to undergo basic training. However, some may require professional training, even for the basic communication technologies. Human resource teams can assess the technical capabilities of the employees and provide them with essential help if needed. As more companies transform their workforce to be more collaborative with the help of digital platforms, the trend will surely grow and prosper throughout the year.
Computerized reasoning will presumably continue to make new job roles in the technology sector. People should learn new technologies as they progress in their career. And they need to figure out how to collaborate with AI and related technologies in the job environment. The need for human qualities and technological advancements will equal. This will result in more companies relying on computerization.
Repetitive tasks are being automated and hence experts are predicting more hike in job losses. Despite this, opportunities and roles that require human touch of creativity and innovation will thrive. Computerization won’t be felt equally across jobs or enterprises. While a few positions will suffer, many other jobs will stay unaffected. Even though some technical profiles might embrace automation, other jobs that require imagination, creativity, and inventive reasoning are harder to automate.
3. Focus on Mental Health and Wellbeing
Along with technology, the need for human skills will also grow more in demand. As more and more companies are opting to continue with the remote workforce, adaptability and emphasis on emotional and well as mental well being is also in the picture. A lot of tech giants and corporates have already started providing mental health assistance and support. This change in focus helps improve employee wellbeing, engagement rates, and overall productivity.
4. HR Takes the Centre Stage
The pandemic has pushed the capabilities of almost all HR roles and has made them the centre of management for all the organizations. Irrespective of the size and industry, everyone needs strong HR practices and the demand will double or triple its growth throughout the year. Additional tasks and responsibilities will be put on their shoulders to ensure that the workplace remains humane and productive amidst the uncertain times to come.
They will act as the conductor of digital transformation as more thrust will be given to humane skills as well as technological advancements equally. The role of HR to analyse, identify and resolve crises will be crucial and employers should make sure that the HRM is equipped for the same.
The future of work will be shaped by change in the nature of work, workplace and workforce. Choosing to change or not to change will be another crucial decision to make — adapting to the unavoidable changes is the best thing to do at the moment. How to adapt and how to manage will thoroughly depend on the culture of the organization.
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