Navigating the future of work

What is the Future of Work?

Visions of the future of work can conjure up different scenarios for everyone, from factories full of robots to an older workforce to a global gig economy in which individuals work for themselves. The future of work could involve all of these scenarios and more, as disparate forces act and interact to drive the way we behave in the pursuit of comfortable living, a reasonable profit and a stable and just society.

The biggest challenge in understanding the future of work comes in surfacing the implications for three broad constituencies—the individual, businesses and other employers, and social and governmental institutions— and getting all three pointed in the same direction. But if our organisational and public policy leaders understand more fully how this complex landscape is evolving, they can target their moves in ways that will help workforces around the world and societies in general—anticipate and prepare for the coming challenges.

Key takeouts from this report

The future of work is unfolding rapidly. Today, none of these constituencies—individuals, businesses, public institutions— is prepared for the potentially turbulent and painful transition and possibilities ahead. The authors provide framework designed to inform and motivate individuals, various forms of organisations, and public policy makers to proactively navigate the future of work and to come together and act now to make the transition as positive, productive, and smooth as possible. Every constituency needs a plan, today, for how to prepare to address the impact of these forces and their impact on the redesign of work and jobs:

• Individuals need to set their sights on longer careers, with multiple stages, each involving ongoing training and reskills
• Businesses must prepare to redesign work and jobs to take advantage of the growing capabilities of machines and the need to retrain and redeploy people to higher-value and more productive and engaging jobs working alongside smart machines and many types of workers on and off the balance sheet, in crowds and around the world
• And public institutions need to proactively prepare for educational challenges, including funding for ongoing education, programs to mitigate the transition costs, and updating regulatory frameworks to support new types of work and workers and a more entrepreneurial economy.

How can Deloitte help you

The future of work is here. Are you ready? Our Human Capital specialists can help you prepare for it.