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The COVID-19 pandemic prompted many businesses to reconsider their business models quickly. While remote work had already gained currency before the crisis, the pandemic and the incremental shift in video conferencing have shown worldwide that … Read More
The COVID-19 pandemic prompted many businesses to reconsider their business models quickly. While remote work had already gained currency before the crisis, the pandemic and the incremental shift in video conferencing have shown worldwide that remote-job should remain there.
Even before the current situation, technologies and new ways of work have disrupted jobs and employees’ skills that have to do so. In 2017, the McKinsey Global Institute predicted that 60% of the jobs had been automated by at-least 30% of constitutive work by 2030. It means that up to 375 million employees worldwide will have to turn to jobs or train to acquire new skills by 2030. There was already an acute dispute with several sectors. And as the pandemic is on the rise, businesses have to learn how to align them with new jobs and activities as workers across industries can adjust to rapidly changing circumstances.
Remote working can be a key to allowing businesses to deploy their workforce in a globally competitive environment, emerging skills gaps, and demographics changes. Virtual learning methods offer a strategic advantage in attracting a wide variety of workers, including working women, professionals who want flexible lifestyles, and broader global talents. The crisis currently accelerates the need to train up employees on a scale—in addition to the “distance economy.”
By comparison, there would be a 30 percent and a 20 percent decrease in demand for physical and manual labour to carry out routine, predictable tasks, and necessary literacy skills. New technology will dramatically shift the profiles of potential workers, and employees will have to equip themselves with the credentials they need to remain relevant in the competitive job market.
AI, automation, and other innovations have generated substantial changes in necessary skills long before the current crisis. New jobs would nevertheless be developed that will more than compensate for workers’ displacement by 2030. However, these new jobs need expertise. Demand for other technical and social, and emotional skills is expected to increase, while demand for activities that require mainly physical, human, and critical cognitive skills will decline.
Re-skilling was already necessary for many organizations, with the growing acceptance of AI and automation and new working ways. The crisis has stepped up the trend as firms have to embrace remote working rapidly. Reskilling on a scale is more critical than ever before. And, to ensure potential resilience, companies will also benefit from an agile strategic workforce planning strategy.
Technology advancements such as cloud storage and online platforms have allowed remote operations in many jobs that required interactions between individuals once. But only a few enterprises, primarily in the technology industry, had taken full advantage of remote working until recently.
Technology is moving fast. Stuff that was new only a few years ago is outdated today. India has the largest pool of technical talent (4.5 million employees with a worldwide turnover of US$190 billion in the information technology industry) with considerable industry expertise and the potential to deliver high-quality services at reasonable rates. It’s the right moment for Indians to take advantage of the possibility that comes out of the next job. It will entail a change that needs heavy investment in the first digital future, re-aligning the educational system to prioritize skills and hands-on training. It involves transforming to a central part of the Fourth Industrial Revolution through investment and innovation in new technologies such as IT, block-chain, education-technology, and IoT.
A TOGAF certification is one way to prove your career in the future. Anyone in the technology field should consider gaining this credential, even if it is just at the foundation level. It shows that you retain technology for current and prospective employers.
If this crisis passes, the world will look different, and we will possibly feel the business effect of the COVID-19 for a long time. There are several ways of addressing these developments, but agility and digital transformation are crucial. Businesses who adopt these new trends and incorporate digital, agile practices in their processes to improve business agility will ultimately be long-term winners.
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