Forecasting the Future of Work

Forecasting the Future of Work

Podcast Sponsored by: QuantumWork Advisory

According to McKinsey, the pandemic has accelerated existing trends in remote work, e-commerce, and automation. As a result, up to 25% more workers than previously estimated could potentially need to switch occupations. Both employees and leaders are being driven to upskill. A recent study from the Sloan Management Review found that only 7% of respondents were led by digitally competent teams. So what does the future of work hold? How can we ensure that we’re prepared for it?

Our Guest: Mark Condon

On our latest #WorkTrends podcast, I spoke with Mark Condon, managing partner and founder of QuantumWork Advisory. He is a pioneer in the talent and workforce sector with over 20 years of global experience with both startups and multinationals.

There are maturity traits found in good digital leadership. Mark explains:

Leaders need to engage and protect their organization. When developing new business models, those need to be protected from the broader business. Another is the culture of inquisitiveness and trust, but you have to balance it with rigor. You want your organization to be curious, to have an exploration culture, and one where no one gets fired for experimenting, but you also need the discipline behind that.

Young Leaders in the Digital Age

Companies are balancing the use of technology implemented and used by people. So when we talk about young leaders, what are they facing when it comes to leading in the digital age? Mark:

It’s confusing out there. There are so many great technologies that appear to be wonderful in their own right. But there’s a problem in that digital transformation is really about technology. The technology in a lab looks wonderful, but we have to use it in our businesses. And our businesses are full of people, policies, and processes, which may not help the technology work. So how to make the tech work in practice is a people-centric issue.

Mark also explains:

People used to choose technology on the basis of functionality, but without it being a great user experience, it’s kind of a waste of time. People need to be able to want to use that technology and it has to be easy to use.

Diversity, Equity, and Inclusion – The Role of Technology

Technology plays a significant role in DEI and talent acquisition and retention strategies. Mark confirms:

This is a huge topic. Around 2020, about $50 billion was going to be spent on the DEI tech vendor space and would grow to around $110 billion by 2024. This is a massive investment.

Technology has its advantages and disadvantages. 

AI is a great enabler of matching, but it also can have a dark side in that if it’s not fed the right data, it can actually make the bias worse. So the problem with AI is it can make things a lot more efficient, but it also can magnify the problem.

The Gig Economy

With the rise of the gig economy, remote work, and flexible work arrangements, the future of work has taken a fork in the road. So where are we going with all this? Mark explains:

A lot of people suffered burnout through COVID, and this is continuing. The burnout rate has been quite damaging for people. People have had enough. I think they’re asking themselves, “Why am I working so hard.” I think a few people are getting off the merry-go-round, not to say all, but I think some are, certainly.

I hope you found this recent episode of #WorkTrends informative and inspiring. To learn more about QuantumWork Advisory and digital transformation in the field of talent and workforce strategy and delivery, please visit https://www.quantum.work/advisory.

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