How has the pandemic affected the future of work? Find the answer as we examine emerging industry trends, workforce challenges, and recruitment cycles in 2021 and beyond.

Ever wondered about the future of work post-COVID-19?

The numbers are in, and the new normal is already transforming the world as we know it. Experts predict that nearly 100 million workers across eight countries i.e., China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States might have to switch occupations in the next ten years. The accelerated growth of automation, virtual-first business models, and agile work from home performances are the leading causes of this change.

Here’s a closer look at how the pandemic has shifted perceptions and attitudes about work:

3 Emerging Business Trends & Industry-Specific Disruptions

Over time, four business sectors have evolved significantly to overcome workforce challenges and cater to consumer demands. These include the travel and leisure industry (and hospitality), onsite customer service, computer-focused jobs, and warehouse production.

Pre-pandemic most technological advancements were adopted at a slow and steady pace depending on business scale and requirement. This ideology has shifted in the new normal. Business leaders and policymakers were forced to accelerate agility and digitization at a record-breaking pace.

Prevalent trends reveal:

WFH Models and Hybrid Operations

Dependency on remote work and work-and-home models has maximized. With 20-25% employees in advanced economies and 10% in emerging industries interested in working remotely three to five days a week.  That’s 4-5 times more than it was in the previous years.

Moreover, this trend would mean a decrease in in-person meetings, presentations, and workplace socialization. Reduction in commuting and ineffective conferencing can also result in more growth opportunities and day-to-day productivity.

A Virtual First Approach

Greater use of e-commerce, self-service operations, and virtual transactions (i.e. online shopping, food deliveries, telemedicine, virtual learning, etc.).  Collective implementation was 2 to 5 times faster than pre-pandemic with the prediction of continued growth.

It might have offer short-term relief to companies as they resumed operations and generated revenue during the lockdown. If the trend continues, we might see a rise in de-employment as retail workers, drivers, servers, and other low-wage employees are no longer required.

Automation FTW

Higher adoption of automation to accommodate supply and demand chains in warehousing and production.  Social distancing and COVID-safety regulations were other reasons why business leaders opted to invest in automation instead of hiring a bigger workforce.  Subsequently, this change has had a domino effect on job opportunities for manual laborers, factory workers, and single-skilled employees.

In contrast, STEM professionals, healthcare providers, and tech experts will witness a spike in career growth as demands to recruit qualified professionals to multiply.

Existing workforce challenges like gender and racial inequality have become more evident in these changing times. Companies are recommended to diversify corporate culture and secure benefits for vulnerable workers, especially those being replaced by robots. The marginalized group will require mutual support and effort from career coaches, employers, and individual professionals. Without proper collaboration and training, many workers may fall into the cracks left in the wake of COVID-19.

Conclusion: The Impact of COVID-19 on the Future of Work

In the end, even with the vaccines rolling out, we shall never return to the old normal. The lingering effects of post-pandemic operations will continue to disrupt industries. Likewise, agility and creativity will remain in the front and center as companies navigate new workforce challenges.

Additionally, one can expect hybrid work models to become a norm and automation to thrive in the next decade. In turn, this will compel recruiters to select new hires based on experience and skills instead of qualifications.  We can also anticipate job seekers to focus on upgrading their professional skillset and shifting occupations to acquire better career opportunities.

Therefore, it’s time to reflect on your choices, refocus business plans, and adapt according to changing times. This three-step thought process will distinguish leaders from the competition.

So are you ready for the future of work?