The Future of Work and What it Entails for Businesses.

Change is inevitable. days, seasons, trends, behaviors, expectations, and solutions all change. While
change is good as it helps us improve our way of life, introduce more efficient ways of doing the
same task so that we may benefit from it, change is also very uncomfortable. It requires that you let
go of all that is known, secure, and comfortable to adopt what is new.
Much like everything else in life, workplaces, too, are changing. Here we discuss the future of work in
light of factors affecting changing workplaces and what it entails for businesses.

Key Drivers of Changing WorkSpaces?

● Technological factors – We are all well aware of how industrialization drastically changed
workspaces. Similarly, globalization brought a substantial change in work trends, opening
new avenues for cross-country and cultural collaboration. Recent technological innovations
such as the introduction of artificial intelligence and automation will definitely change the
way we work, the number of employees a company will require, and instill the need for
employee training and upskilling.
● Socio-economic factors also affect future employment trends as they directly affect the
employee pool. These factors include increasing life expectancy, higher education and skills
gap, increasing workforce diversification because of employee migration, etc.
● Global crises such as the coronavirus pandemic are also major drivers of change in
workplaces. Global crises such as these are unexpected, highlighting the importance of being
prepared for the worst possible scenario.

What is the Future of Work?

There are different definitions of what exactly the future of work will be. But the one thing that we
all agree on is that almost everything will change. There is also a wide scale agreement that
technological changes, workplace preferences and artificial intelligence adoption will be the main
change driving factors. However, recent events have brought in a new contestant, COVID19 and
having systems in place in case future pandemics arise again.
These factors all affect the way businesses operate. Because of the pandemic we saw businesses
switch to a digital operational model with employees working remotely. The concept of remote work
existed far before COVID hit but it took the pandemic to fuel its adoption. We also saw many
businesses (unfortunately) shut down because they were not technologically equipped or resilient
enough to adapt to change or just plain got caught at the wrong place at the wrong time – many
service establishments fit in the later category.

How Can Businesses Adapt to Change?

Businesses must keep up with innovation, incorporate technologies that improve the organization’s
resilience and focus on employee skill development to adapt to change. Map systems and
procedures to the new way of doing business. Management systems must also be mapped and
enabled to monitor and track the future of work scenarios.
Employers will be leading the way. Incorporating changing trends and adapting to change is
beneficial for everyone Future of Work offers up large opportunities for employees and business to
adopt new skills, drive productivity and keep a highly satisfied work population.