The future of work is a topic that has gained a lot of attention in recent years. The rapid advancement of technology and automation outpaces society's ability to adapt, while imminent concerns about the future of our planet force organisations to reconsider their strategy and purpose. Simultaneously, firms struggle to attract next-generation workers who are more selective and expect transparent business practices. The truth is that the future of work is uncertain, but there are some trends that we can look at to get an idea of what the future may hold.
On March 21st, together with our partner Future Agenda, we hosted another edition of our Future of Work event with the aim to explore trends and opportunities impacting the future workplace on a global level. In a hybrid setting, a diverse group of participants joined us for a round-table discussion, sharing their views on the future of work. Their varied professional backgrounds in healthcare, finance, innovation, sales, and entrepreneurship provided multi-dimensional insights.
During the session, which was led by Dr Suraya Sulaiman, several expert keynote speakers discussed recent and current trends that are transforming the workplace. They covered topics such as remote leadership, predictions of work, physical (coworking) spaces, and the Exponential Workplace. A Q&A session between participants and experts led to a fruitful group discussion that covered topics such as the metaverse and the future of healthcare. In the final keynote, Caroline Dewing from Future Agenda, an open-source foresight think tank, introduced 18 major emerging trends and potential challenges that could impact the future workplace.
During the workshop, participants were divided into groups and each group was given a deck of trend cards. The task was to categorise the cards based on their impact level (low, medium, or high). The groups then analysed and discussed the trend that they identified as having the highest expected impact. Once completed, each team presented their findings and insights, which opened the room for discussion.
The top 5 trends were:
Beyond Carbon - The issue of climate change has become increasingly pressing, with a growing impact on nature and biodiversity. As a result, many organisations are now focusing on implementing high environmental standards. This shift is not only important for the health of our planet, but it also has significant implications for the workforce of the future. In fact, companies that do not prioritise sustainability risk losing out on the recruitment of the next-generation workers who prioritise environmental responsibility and ethical business practices. Therefore, it is imperative that businesses begin to make significant changes in their operations and policies to ensure a sustainable future for us all.
Pace of Change - In today's fast-paced world, technology is advancing at an unprecedented rate. As innovations emerge, society is struggling to keep up with the changes. This is especially true in the workplace, where the accelerating pace of change is outpacing the workforce. It's not just large corporations that are feeling the pressure, smaller companies are also struggling to keep up with the rapid pace of change. As a result, many employees are finding it difficult to stay current with the latest technologies and skills. This is creating significant challenges for businesses of all sizes, as they try to find ways to adapt to the ever-changing landscape of technology innovation.
Organisation 3.0 - New forms of organisations have emerged in recent years that are characterised by a flatter structure that promotes collaboration and project-based work. Many of these organisations are virtual and rely on advanced technology to enable a globally mobile workforce. These new types of organisations are often more informal and flexible than traditional hierarchical organisations, and they offer new opportunities for workers and employers alike to adapt to the changing demands of the modern workplace.
Speed to Scale - With firms transforming into digital ways of working, they have a unique advantage in their ability to scale. With the help of technology, they can easily expand their reach to new markets and customers, both locally and globally. This allows them to grow exponentially, without the physical limitations that traditional businesses face. Additionally, the increasing connectivity and accessibility of technology have made it possible for digital firms to reach over a billion customers in a much shorter amount of time. This has revolutionised the way businesses operate, as it allows them to reach a wider audience with minimal effort and resources. Digital firms thus have a virtually unlimited potential for growth, thanks to the power of technology and the increasing number of connected customers worldwide.
Companies with Purpose - As people become increasingly aware of the role of businesses in society, they are also becoming more sceptical of them. The public is demanding more transparency and accountability from corporations, and as a result, companies need to evaluate their practices and make changes where necessary. In order to gain the trust of their stakeholders and the public at large, businesses are expected to prioritize environmental, social, and governance (ESG) performance. This means that they must not only focus on generating profits but also on their impact on society and the planet. By taking steps to improve their ESG performance, companies can demonstrate their commitment to sustainable and responsible business practices, and ultimately strengthen their reputation and bottom line.
Huge thanks to all the participants for contributing to this fun and inspiring event. We loved hosting you! Additionally, we would like to express our sincere gratitude to the speakers who joined us for our Future of Work event. Chea Hao Wong, Dr Azlan Zainal, Azim Pawanchik, Caroline Dewing, and Dr Suraya Sulaiman, your insights and expertise were invaluable in helping us explore the emerging trends and opportunities impacting the future workplace on a global level. Thank you for sharing your knowledge and engaging in discussions with our participants. We are grateful for your contributions and look forward to future collaborations.
Should you be interested in collaborating with Alpha Catalyst Consulting, reach out via our LinkedIn or drop us an email at [email protected].
Willem Kleene
Should you be interested in collaborating with Alpha Catalyst Consulting, reach out via our LinkedIn or drop us an email at [email protected].
Willem Kleene