Equations Will Change in 2018! 0

Equations-Will-Change-in-2018!

With each new method of work, the equation between employers and employees is changing. In a world where machines are competing with humans to find work, what will be left for humans? Should technical solutions be eventually addressed as ethical choices and entrepreneurs be held accountable for the consequences of their own inventions? Abhijit Bhaduri

Human beings are no strangers to changes in their work setting. From about 1760 to 1840, the First Industrial Revolution saw humans making the transition to share space with machines. Steam power, the development of machine tools and the rise of the factory system were all by-products of the first major shift. The Second Industrial Revolution started soon after and this time, it was all about mass production.

The two revolutions saw the creation of blue-collar workers who were supervised. This, in turn, gave rise to scientific management. Taylor published “The Principles of Scientific Management” in 1909 and started the foundations of modern management philosophy and practices. The two World Wars further refined the management and leadership development. But it did not stop there.

Man And Machines In 2018

In April 2012, The Economist described the Third Industrial Revolution by saying, “The digitization of manufacturing will transform the way goods are made — and change the politics of jobs too”. The lines between manufacturing and services soon became blurred. The third wave of change in work was brought by the advent of digital capabilities to billions of people and businesses. Every new business model is changing the power equation. New skills are needed. Some jobs get replaced with others. We were in the age of the knowledge worker and then that changed too.

The Rise Of Skills Platforms

Companies are slowly becoming platforms where skills can be bought and sold. A skill on-demand model increasingly drives the gig economy. Uber, Etsy, Upwork etc. are all such platforms. Employers no longer need to keep employees on rolls. It also means that employees no longer have access to health care support or even training for new skills etc.

Fractured Meaning Of Work

Technology allows us to slice and dice work into smaller components that can be farmed out to independent contractors. When the work does not get completed in a shared (preferably co-located workspace), it is hard for individuals to understand how their contribution fits into the overall scheme of things. We find meaning in our work when we know it is making a difference to someone somewhere. The gig economy is taking away that meaning.

Employment, Jobs & Expertise

Employment is no longer a pre-condition to get hired to do a job. Workers are becoming like a movie crew. They are all freelancers. A team of freelancers with different skills is pulled together for a project. The degree of expertise determines the earning power of the freelancer. On-demand skills are weakening the symbiotic relationship between the employer and the employee.

Identity At Work

In a collectivist society like ours, work is a source of meaning and identity. The employer brand also shapes the identity of the employee’s family. It is not just a mere source of income. When an employee becomes redundant, the family’s identity also gets affected. How will that get impacted when employees do not have a steady source of work?

New Models Of Leadership

The hyper-connected workforce needs leaders who are communicating in real-time with customers and employees. Authenticity is becoming the currency of every leader. They have to stay equally connected to the employees as they do to the customers in real time. They need to tune in to the world outside to pick up weak signals. 

Man, Machines, And Experiences

The Fourth Industrial Revolution is bringing in new technologies that are fusing the physical, digital and biological worlds, impacting all disciplines, economies, and industries. This time, the change in the world of work is enormous. Adobe pulled together a ‘Think Tank’ recently to discuss the Future of Work. The diverse set of thinkers ranged from neuroscientists to futurists and experience designers. They categorized the impact of work in three areas in a world where machines are competing with humans to find work, what will be left for humans. The changes will be felt at three levels – people, machines, and experiences.

People  Defining a generation by way of skills, we have so far looked at the generations in terms of age. What happens if the generations are looked at in terms of skills? Maybe the next generation should be known as the gig generation. Humans have never experienced skill-redundancies at the rate they currently are. Telecom, IT and Retail are three sectors that are in the eye of the storm right now. New opportunities will need new skills. The future belongs to the continuous learner.

Machines – Redefining what work means for people: At first, machines helped us to augment our strength – our hands. Today, AI is helping us augment our cognitive abilities. Recently, the machine stunned us all by learning every chess move ever created in just four hours and then crushed its human opponent. The future of work that is left to humans is deeply human. It will see the rise of the relationship worker.

Experiences – What will collaboration experiences be like? Humans have always collaborated with each other without machines intervening. That is changing. Customers and employees no longer can be engaged in seamless transactions. They expect to be wooed by magical experiences. How can we leverage technology to design deep immersive experiences that not only let us work but also provide meaning and more?

“The Fourth Industrial Revolution is bringing in new technologies that are fusing the physical, digital and biological worlds, impacting all disciplines, economies, and industries. This time, the change in the world of work is enormous.”

Work, Skills, and Education

Technological convergence and societal shifts are together driving significant changes in the world of work. Employer-employee relations are getting reimagined. Getting work done in bits and pieces may be efficient, but it comes at a cost. It is taking away the meaning that we derive from work. Where do we begin to prepare ourselves for the future? Education is a good place to start. This time, education will have to be far more than a way to land a job. It has to prepare us to think of others and not just ourselves. The future of work has to be designed not just as a tech solution but also as an ethical choice.

“New products and services will create new roles and new work opportunities. But they will need people to learn new skills. While talent is fairly uniformly distributed, opportunities are not. The future belongs to the continuous learner.”

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Abhijit is a columnist, author & coach to senior leaders with 20 years of experience in HR. In the past, he has led HR teams at Wipro, Microsoft, PepsiCo, Colgate and Tata Steel and worked in India, SE Asia and the US. He has a Master's degree from XLRI and has also completed a degree in law. He has written for several publications including The Wall Street Journal, The Economic Times, and the Hindu Business Line. He was voted among top ten HR influencers on social media by SHRM.

A BIG thank you to all our panelists, event attendees and everyone who made our events in 2018 a grand success.    

 

We will be updating this space with our upcoming events schedule commencing from January 2019.

 

See you in January next!

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