The future of work is about “why," not merely “what.” It's not what you do but why you do it. Why did you work so hard today? Why will you do it again tomorrow? Why do you do what you do? Why do you continue to work in your chosen skill set? Why do you remain with your company?
We devote our professional lives to careers and businesses that help us answer this critical question and enable us to both find our purpose and realize our potential.
In the future of work, "why" is bigger than "what." And the success of each company hinges on its ability to proactively adapt to the future landscape. For the first time on record, the number of job openings in the U.S. exceeds the number of unemployed Americans, a trend that gives workers more leverage and choice in the career they want. According to The Associated Press, "The figures underscore the consistent strength of the nation’s job market. The unemployment rate has reached an 18-year low of 3.8%. Employers have added jobs for a record 92 straight months." As the Great Recession ended in 2009, there were 6.7 unemployed people for each open job. As of November 2018, there were only 0.8 unemployed people per job opening.
To continue success in the future, businesses must proactively engage their workforce to ensure each individual is empowered to understand and reach their true potential, which in turn, will elevate the organization toward its true potential.
The Fourth Industrial Revolution is affecting every aspect of our lives: how we live, work and communicate. It will change what we do, who we are and our notions of ownership. Talent development, lifelong learning and career reinvention are key aspects that will determine the future success of our individuals, our economy and our society. While the future of work will offer unparalleled opportunities across every aspect of our lives, the only certainty is that the future is truly uncertain. The changing landscape is driving the power of choice to employees, and their values are evolving in the way people choose to work. The question of performance must no longer be how many hours individuals spend at work, but rather the performance they are expected to achieve.
The future of work is not about skilled laborers who merely do what they are told. Instead, success will be found in those organizations that can empower and embolden their teams to see what needs to be done and accomplish it. In addition to technical, job-related, hands-on skills, the future of work will entail deliberate development of “influence skills,” which includes emotional intelligence, communication, self-awareness and critical thinking abilities to better operate in an elite team environment. The resulting organizational culture will reflect the shared values, beliefs and behavioral norms used by employees to give meaning to their careers and, as such, influence attitudes, behavior, performance and satisfaction.
Employers must take ownership of skills in their sectors, collaborating with education and training providers to revolutionize our social dialogue and develop career routes with progression pathways. These pathways will enable the next generation of skilled workers to develop both job-specific skills and soft skills, such as the abilities to communicate, work in teams and think critically to proactively solve problems. As the workforce exhibits a growing desire for work-life balance, we must realize that success in building a skilled, competitive workforce requires equitable pathways to postsecondary credentials and careers.
As the Dalai Lama reminded us, “The purpose of our lives is to be happy.” And that happiness can only be found in achieving success — not merely a paycheck, but knowing we made a difference in our lives to those around us. Choosing a career is a key and vital aspect of this path. We must effectively portray the true aspects of our industries so that the next generation will be successful in taking us through the Fourth Industrial Revolution.
As World Economic Forum founder Professor Klaus Schwab points out, our era is evolving at an exponential pace rather than the linear path of the first three industrial revolutions, due to velocity, scope and impact of systems. The speed of current breakthroughs has no historical precedent. For our society to be successful, each industry must ensure success. For our companies to be successful, our employees must buy into our company goals, which first requires us to buy into them.
The future success of our team and our companies is about helping employees answer their personal “why” — why your company should be their chosen career and why they believe in you and your company’s mission to improve our society. When there are not enough middle-skill workers, it hurts individual states because they are unable to attract and retain new businesses, and it hurts the low-wage, low-skill workers who are then not able to advance into the next-level jobs. As Klaus states, "The Fourth Industrial Revolution can compromise humanity's traditional sources of meaning – work, community, family, and identity – or it can lift humanity into a new collective and moral consciousness based on a sense of shared destiny. The choice is ours."
The path to economic, corporate and individual success is clear: Put people first and empower them.
