The Future of Work

Abstract

A host of technological, sociodemographic, and economic shifts are shaping the future of work. For example, technological advancement presents crucial implications for work and workers, and sociodemographic and economic changes have the potential to radically alter the social contract between employers and employees. These changes will have a significant impact on the way work is done in the future, the skills and capabilities required in the future workforce to meet these changing needs, and critical ways in which organizations must be redesigned to prepare for a new future. This report will summarize key trends that companies should be aware of when thinking about and preparing for the future of work as well as highlight key imperatives and skills that HR should focus on to prepare the workforce of tomorrow. These trends emerged from a review of several research-based consulting reports, and findings from organizations such as the International Labor Organization, World Economic Forum, and Cornell’s Center for Advanced Human Resource Studies (CAHRS). More specifically, the report will propose a new framework that combines macro-level themes (i.e. external factors that will shape the nature of work in the future, specifically technology, demographic changes, globalization, and economic changes); micro-level trends (i.e. changes expected at work at an organizational level, specifically the changing social contract, implications of technology on work and workers; and the need to redesign tomorrow’s organization), and implications for the Human Resources function.