Double Disruption in the Post-Covid World
The first half of 2020 has seen a significant and unexpected disruption to the workforce, with the COVID-19 pandemic having accelerated the arrival of the future of work. Automation, in tandem with the COVID-19 recession, is creating a ‘double-disruption’ scenario for employees.
According to the Report, in five years, the time spent on current tasks at work by humans and machines will be equal. As changes to work accelerate, employers should prepare to witness a fundamental shift away from the linear transitions made by workers previously as they move along a structured career ladder. In today’s workforce, workers jump between professions with significantly different skill sets, and navigate mid-career job transitions accompanied by substantial reskilling and upskilling. Those pivots are important to both the successes of the companies and the workers as they allow productivity lag to be filled and an increase in skills possessed.
The role your company plays
66% of businesses believe they can see a return on investment within a year of funding reskilling for the average employee according to a survey conducted by the World Economic Forum in 2020. The role of business in such a programme can be to directly drive such efforts or be in a supporting role by hiring and accepting candidates who have shown constant improvement of skill sets. Case in point: In one example, PwC Thailand has released a “Digital Fitness for the World” learning app to help individuals and organisations improve their digital skills to better compete in the post-pandemic world. The learning app is available to the public for free and it is designed to make sure people are prepared for the modern economy.
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