What is the future of work? The team at PricewaterhouseCoopers has some ideas compiled in a comprehensive report found here. The collection of thinking is about what the working world may look like in 2020. It's a thought-provoking read and took PwC over two years to complete.
You should download the full report but below are some highlights to consider about the future of work:
1. People management will present one of the greatest business challenges. This means the function of HR will go one of three ways: 1.) become the heart of organizations, 2.) become the driver of corporate social responsibility, 3.) become only people sourcing and will be entirely outsourced.
2. Business models will change dramatically. PwC looked at a number of global forces that will have significant future influence but the primary ideas are: individualism vs. collectivism and corporate integration vs. fragmentation. To articulate this they created three worlds: Blue, Green and Orange.
Marketing agencies will most likely look to Orange. Largely, this has already begun, of course. But those slow to embrace this world might not be around in 2020. Orange will not come at the expense of Green and Blue... elements of these worlds need to be embraced too. And that is true for whatever world companies find themselves in. The blend of all thinking = success.
3. Millennials, the future leaders. The survey also evaluated the thoughts of 4,271 Millennials from 44 countries. And while the majority of those surveyed are associated with PwC in some fashion, there are key learnings all organizations can take away, such as:
-88% of Millennials will choose employers who have corporate social responsibility values that reflect their own. 86% would consider leaving an employer if these values no longer matched their expectations.
-Most expect to work "regular" office hours. Only 3% expect to work mainly at home.
-75% believe they will have only between two and five employers throughout their career.
-Training and development is the most highly valued employee benefit (chosen three time higher than cash bonuses).
-They envision that by 2020 China, India and Russia will have more economic influence than the US and Europe.
-Over 1/3 believe that companies will be more influential than governments.
So what does this all mean?
2020 is ten years away. Think of where we were in 1999... the things we didn't even fathom then vs. the things we use daily now. Yet, for those of us who have been in business that long, it seems like only 10 minutes ago, doesn't it?
Some random things to think about:
Even the smallest of companies should think global. If it seems unfathomable to be selling goods in China, can you export your intellectual capital? Become a consultant in what you know for those who are going to build what you've already built?
If indeed we are to become a collection of collaborative networks what is your unique specialty to bring to the table? Personal expertise is what networks will seek when compiling teams.
If certain enterprises become King, in what ways can you, the employee, influence its growth and social responsibility? You may work there for awhile, best to make it work for you.
Find your world, dive in and start positioning yourself... time has a way of flying by.