Why should you, among all job seekers, care about the future of the job market? You can have a well-paying job in a few years without switching industries. If you're prepared for future changes, there are higher chances for you to have a satisfying career without facing any additional challenges. Will AI shape future job trends? What would be the new normal? Our experts have decided to provide a few insights on the changes to prepare for.
#1: Technologization
Yeap, this trend has been the juggernaut for redefining the course of business development. If you check job resume examples online, you'll see that 'IT knowledge' in the Skills section is no longer surprising. For the last decades, companies have switched to social media marketing, video conferencing, outsourcing, and eCommerce. All these trends led to higher speed and cost optimization.
What to expect from technologization in the 2020s?
- More cloud-based technologies and platforms for virtual collaboration;
- More robotic process automation (RPA) and artificial intelligence (AI) technologies;
- The Internet of Things (IoT) will be the new normal;
- Big data will even be a more significant (pun intended) thing than it is nowadays.
#2: Millennials vs GenZs
Sure, GenXs will be a part of the working force, and GenZs will continue joining the job market. However, up to 75% in the nearest future will be Millennials at the forefront of businesses. And yes, Millennials will be picky about committing to job positions. Most of them will search for flexibility, fulfillment, and flat structures regarding the company’s organization.
How will Millennials change the working environment?
- More flexibility, less hierarchy;
- All-inclusive and environment-friendly surroundings;
- An improved work-and-life balance;
- High technologization and automation.
#3: Globalization
Outsourcing will still be a trend from which all companies benefit. We should expect more competition among global talents and the rise of freelance culture. Since more employees will master the art of freelance, only the most talented will nail jobs. And because freelance is about the lack of 401(k) and insurance plans, we should prepare for more employees depending on governmental support.
Other trends interconnected with globalization still being a significant power are the rise of cloud technologies, the gig economy, and increased demand for digital security.
#4: eCommerce
For the last decade, eCommerce has been a steady trend. The pandemic has nudged the global eCommerce field, encouraging all companies to sell remotely if they want to win the game. Powered by technologization, eCommerce will continue expanding.
- Expect more AI-fueled chatbots and virtual customer care support specialists;
- Business-to-Business (B2B) eCommerce will lead the market instead of the business-to-customer (B2C) branch;
- Voice shopping – no need for customer-and-assistant interactions;
- Purchase visualization empowered by augmented reality technologies (AR);
- Personalized communication will be necessary for businesses planning to increase their customer retention rates;
- The need for synchronized communication with customers will still be a thing;
- Due to eCommerce's popularity, the demand for marketing specialists will rise.
#5: Higher Mobility
Now, this trend is a direct result of other trends like automation and globalization going on. Add COVID-19, and what you get is a future of remote work no longer being a new normal but just average. Shortly, everyone will work from anywhere, causing the rise of coworking spaces and a rivalry between Internet providers.
- Companies offering ready-to-move-in offices (on a short-term basis) will be on the rise;
- Hospitality businesses will put the connection on first place, both human and digital (pun intended);
- Employers will opt for cloud-based data management solutions.
#6: Soft Skills
Hiring managers will focus on soft skills rather than hard skills. The latter will still be vital in the hiring process. But from now on, your empathy, active listening, and communication skills will matter greatly. Soft skills to focus on right now are as follows:
- Teamwork (unless you're a freelancer). A ready-to-launch product is a result of cooperation between different departments;
- Communication. Again, whether you're a strong communicator will determine your chances of getting a job. Mainly if your job position includes daily communication with customers or team management;
- Conflict management. You might be a real pro, but if you don't treat other fellows with respect, the chances of losing a job in the future are high.
#7: Human-Centricity
Global movements like #MeToo will increase, advocating for the need to stop harassment of all kinds. In the future, companies will approach harassment and bullying with more attention and effective policies. HRs will be equipped with better knowledge of how to deal with workplace violations since creating a safe, supportive environment will be a must.
#8: The Power of Big Data
Remember those cloud-based technologies? Yeap, the future of work will be all about keeping and analyzing big data. Things like predictive analytics will gain immense popularity.
Let's say you're a sales rep or a marketing specialist who must create a massive ad campaign for the company's new product. By using predictive analytics tools, you'll be able to leverage the data you already have and find out which campaign will lead to better brand awareness and increased sales.
Another trend is improved organization of data. Companies that want to survive will move to data-management systems that allow perfect data synchronization, real-time updates, and automation.
#9: Higher Migration Rates
Blame it on wars and global economic crises, but internal and external migration levels will rise. Because of disrupted economies, people will have to migrate to places with higher safety and incomes. This will cause steady competition in all industries, mostly among manual laborers. If the global crisis continues, we'll face the future of lower wages, higher living costs, and high unemployment.
Final Thoughts
The future of work presents opportunities like high technologization and challenges like increased migration. Other expected trends are eCommerce, increased globalization, mobility, and human-centricity. All in all, big data, social activism, and technologization will bring speed and automation.
We hope the article was helpful to you. Good luck!
COMTEX_424097358/2757/2023-02-08T13:57:57