The World Economic Forum’s “The Future of Jobs Report 2020” was published and featured an in-depth look into how jobs and skills will evolve following the impact of the pandemic. 

One of the key takeaways from the report was the “double-disruption” being experienced by the workforce, with companies embracing automation at the same time that lockdowns are causing massive layoffs.

A survey within the report found that 43% of businesses said they are reducing jobs due to technology integration, while 41% said they anticipate increased use of ‘task-specialized work’. However, 34% added that they actually plan on expanding their workforce due to new technologies.

Additionally, the loss of jobs is growing as job creation slows down. In fact, the survey found that the number of jobs that will be seen as redundant will go from over 15% to less than 10%. 

The report also touched on the future of remote working, which is expected to become a mainstay for many companies. This will likely lead to increased digitization of processes, forcing companies to focus on nurturing their community and the well-being of workers.

Lastly, despite the high number of jobs that are predicted to be displaced over the next few years, business leaders are recognizing the importance of upskilling their employees in order to retain them. Keeping on current workers and repurposing them not only improves workplace operations but also keeps workers satisfied in their positions.

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