social costs

Analysis

The future of work

How can we adapt to survive and thrive?

This thought leadership from Chartered Accountants and Deloitte Access Economics shows that the workforce will change significantly in coming years. Using an extensive survey, it considers what this means for careers, skills, education and workplaces.

Our economy and society are being shaped by large-scale shifts, from globalisation to digital disruption. Businesses are facing more intense pressures to respond to changing customer demands and new market entrants. Policy makers are reshaping their agendas. The forces of disruption are not just being driven by start-ups and felt by business leaders – they’re driving change in the workforce and labour market.

Two-thirds of those with less than five years’ experience (early-career Australians) expect that their job will not exist, or will fundamentally change, in the next 15 years. If they are correct, this means that there is likely to be a period of transition. Many will have to reskill, retrain or change jobs.

As a nation, we need to ask ourselves some key questions. How do we prepare? How do individuals equip themselves for career success? How do we provide education which is agile enough to keep pace with changing needs? How do businesses attract, incentivise and retain talent? How do policy makers facilitate flexibility and the knowledge economy?

Deloitte Access Economics explored how mega-trends are changing the future of work, drawing on a survey of over 1,400 Australian labour market participants. The paper discusses the impacts of technology on employment, winding career paths and tenure, the importance of education, and how individual goals may evolve over time. It also considers implications for business, including the importance of diversity and the opportunities and challenges of globalisation.

The future of work: How can we adapt to survive and thrive?
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