A new report from consulting firm PricewaterhouseCoopers is giving business thinkers a lot to consider as they plan how to capitalize on the change to come. The report “The Future of Work: A Journey to 2022” reflects the views of 10,000 people in China, India, Germany, the United Kingdom, and the United States who were asked for their thoughts on the future of work. Here are the survey results:
- 66% reported that they see the future opening up new possibilities and that they will find success.
- 53% reported that they believe technological breakthroughs will “transform the way people work over the next five to 10 years.”
- 44% reported job security was the most important thing to them.
- 64% believe that technology will improve their job prospects.
- 30% are happy to provide access to their personal data to their employers.
- 65% want to work for an organization with a powerful social conscience.
- 46% of HR professionals believe that 20% of their workforce will be contractors or temporary workers by 2022.
- 29% want control over what they do and when as well as the career.
- 40% believe that traditional employment will not be around rather employees will have their own brands and sell their skills to those that need it.
The study highlights “relentless pressure on performance” in large companies that decide to focus on consumer preferences, profit margins, flexibility, efficiency, and speed to market. Getting the right talent will be a particular challenge in the large performance-driven organizations, according to the report. “People policies seek to lock in talent, but the top talent is still hard to attract and retain; many senior executives use personal agents to seek out the best deals,” the report says about such companies in 2022. Also in the largest organizations, corporate culture will be emphasized, the report says. Companies will engage in “rigorous recruitment processes to ensure new employees fit the corporate ideal.”
The workplace of the future also will see an increasing number of workers embarking on “portfolio careers,” the report predicts, explaining that many people will want the “flexibility and varied challenges” they can achieve by working freelance for several organizations instead of being an employee of one. “Big business will be outflanked by a vibrant, innovative and entrepreneurial middle market,” the report says. The researchers’ data show two out of five people in their global survey believe that traditional employment will give way to a contract model with workers building their own “brands” and selling their skills to organizations needing them.
