There’s no light at the end of this tunnel, but at least we’re getting used to the dark.
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Photocredi: Violet Kashi
The economic turbulence of the past few years has created a talent paradox: amid stubbornly high unemployment, employers still face challenges filling technical and skilled jobs. Employers now need to adjust their talent management initiatives to focus on retaining employees with critical skills who are at a high risk of departure and the capable leaders who can advance their companies amidst continuing global economic turbulence.
To help employers gain a better understanding of the latest employee attitudes and emerging talent trends, Deloitte Consulting LLP teamed with Forbes Insights to survey 560 employees across virtually every major industry and global region. Based on the results and Deloitte’s analysis of the talent market, three emerging challenges rose to the top:
Digital technologies are rapidly encroaching on skills that used to belong to humans alone. This phenomenon is broad and deep and has profound economic implications. Many of these implications are positive; digital innovation increases productivity, reduces prices, and grows the overall economic pie. But digital innovation has also changed how the economic pie is distributed, and here the news is not good for the median worker. As technology races ahead, it can leave many people behind. Workers whose skills have been mastered by computers have less to offer the job market and see their wages and prospects shrink. Entrepreneurial business models, new organizational structures, and different institutions are needed to ensure that the average worker is not left behind by cutting-edge machines.
McAfee brings together a range of statistics, examples, and arguments to show that technological progress is accelerating, and that this trend has deep consequences for skills, wages, and jobs. He makes the case that employment prospects are grim for many people today, not because technology has stagnated, but instead because we humans and our organizations aren’t keeping up.
Photocredit: Rick Elkins
The University System will be challenged – the relevance of the college degree will be questioned in an economy that favors unique combination of knowledge assets rather than everyone having the same “degree”.
Photocredit: Charge Bikes – Juliet