As the UK finds itself in the grip of a second wave of Covid-19, the long-term impact on the economy looks certain. The longer the virus disrupts the way we live and work, the more likely it is that temporary changes will become more permanent fixtures. A major new LinkedIn survey has looked at a number of businesses to understand how Covid-19 is likely to change the workforce of the future. Unsurprisingly, the survey points to a period of major disruption ahead. Not only will millions of individuals face redundancy, but the changes will see a fundamental shift in the kind of jobs that are needed. Here we take a look at some of the major shifts in the workplace and how they will affect us.
Increased digitisation and automation
Since the start of the Covid-19 pandemic, most executives say adoption of digitisation and automation technologies has accelerated. Restrictions on travel and physical interaction has forced companies and consumers to change the way they operate. 85 percent of respondents to the survey said their businesses have accelerated the implementation of digital technologies that enable employees to work from home, such as videoconferencing and filesharing. Roughly half of those surveyed reported increased digitisation of customer channels, for example, via ecommerce, mobile apps, or chatbots. During the pandemic, factories also deployed more robots in their warehouses to meet a surge of online orders. Use of such technologies allows limited reliance on virus-susceptible employees.
While executives in all sectors reported increased adoption of digitisation and automation, those in the financial services and technology sectors have seen the greatest acceleration since the Covid-19 outbreak. 88 percent of finance and insurance executives and 76 percent of information and technology executives reported increased implementation of automation and AI. These sectors were leaders in digitisation and automation prior to the pandemic, and coronavirus has made the advantage of digital payments and other machine-powered activities clear. Use of tap credit cards and cashless money transfer systems has risen during the pandemic, and more and more transactions are taking place online with apps like Venmo.
Greater shift towards home working
Automation and AI has expanded most among firms that shifted to remote work since the outbreak of Covid-19. Before the pandemic, remote work had struggled to become established, as companies worried about its impact on productivity and corporate culture. Now, some employers intend to increase the number of their employees working remotely at least some of the time. 20 percent of executives surveyed in the United Kingdom and Germany say that at least one-tenth of their employees could work remotely two or more days a week going forward. Again, the greatest potential for remote work is highly concentrated in sectors such as information and technology, finance and insurance, and management. With corporate leaders setting new expectations for how and where work gets done, remote work could become a way to lower real estate costs and compete for talent.
New roles and greater reliance on contractors
Covid-19 has drawn intense attention to issues of sanitation and workplace safety. 83 percent of respondents said they would hire more people for health and safety roles.
As workspaces are redesigned, companies will likely add new roles in facilities management, specialising in things like ventilation and elevator operations. More space between workspaces and employees separated into zones will require new roles in security.
Consumer migration to digital platforms may mean fewer employees are needed on site or in retail branches. However, the increased use of automation also means that some 35 percent of survey respondents said they would need more workers skilled in AI and robotics.
When hiring for on-site roles, executives expect to rely much more on contractors and temporary workers. Two years from now, about 70 percent of surveyed executives expect to use more temporary workers and contractors onsite at their companies than they did before the crisis. The intention to migrate to a model with greater reliance on on-site contractors is particularly pronounced in the accommodation and food services sector, as well as in healthcare and social assistance. Uncertainty about how the pandemic will play out and the impact on the economy are among the primary reasons that businesses plan to increase the number of contractors they use.
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