A look at the future of work

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Monday, 7 january 2019 | Redacción CEU

The rules of the game are changing, especially within the world of work. Companies demand new professional profiles. They need to recruit talent that will live up to the magnitude of the change that they are beginning to undergo. In order to attract the ideal candidates, they need to design new strategies in a constant way. Professionals also want different things. Now, they are more independent, they are more specialized and they require greater work-life balance programs and flexible hours. They are increasingly aware of the fact that their employment relationship will not last until their retirement. These are just a few details of how the working environment is changing. Today, at The CEU IAM Business School, we will look at the future of work by analyzing the main trends that are emerging in the labor market.

Until now, we have witnessed how technology has left a mark on the behavior of firms. Companies face a complex challenge, they have to adapt their organizations to the new digital scenario that surrounds them. At the same time, they have to try to position themselves as attractive brands and offer a proposal of values which fits with what the new professionals demand currently. In order to successfully face all these changes, it is necessary to identify and understand the new trends and movement within the work environment. Only in this way will organizations be able to design effective and competitive strategies that attract the best talent. In turn, the professionals who know what this future of work is like will be better prepared to progress in their working careers.

A new labor ecosystem

There are many experts who, encouraged by the arrival of the change of year, have decided to point out what they say will be the trends of 2019 in the labor sector. Below, we offer a summary of their main predictions:

Flexibility

Work will be more flexible in two dimensions: in terms of both time and space. The traditional schedules will gradually disappear in favor of new models that will be more adapted to the personal circumstances of professionals and their productivity. The spaces will also be more flexible. An example of this trend is the so-called coworking. These places are favoring the creation of professional contacts networks and the emergence of opportunities and synergies, that is, what we know as networking. These models are beginning to be used by large companies too, not only startups and innovative firms. There are also new proposals such as crowdworking.

Teleworking

Despite the fact that the phenomenon of presenteeism is deeply rooted in Spain, teleworking will gather more and more strength as time goes by. Although the resistance is still high, the technological boost is paving the way for change. Working at distance helps to satisfy the demand from professionals for work-life balance and it also provides other advantages such as the decrease in transport costs. In turn, this method can also be beneficial for companies, since it means saving on material and work facilities and, when it has the right approach, it can increase productivity.

Results

The flexibilization of working conditions, the emergence of new profiles of professionals such as knowmads, the adoption of agile methodologies, the phenomenon of gig economy and the bet on teleworking are contributing to a change of mentality in companies. Organizations will begin to apply an approach that will be focused on measuring work through results, not the hours that employees spend in their job.

Flexible remuneration

Companies not only need to recruit the best talent, they need to retain it as well. Many of them have realized that, for their employees to be motivated, they need something else than being paid a good salary at the end of the month. There are different ways to offer an alternative compensation, but the experts point at flexible remuneration as the one that will be used most in the future. This modality is based on an improvement in the remuneration of workers through products and services that have tax advantages or discounts (public transport, nurseries, meal vouchers,...). By negotiating collectively, companies get better prices in them, so this model enables workers to have considerable savings. Flexible remuneration does not imply an increase in staff costs for organizations and, provided that it is applied in the right way, it is beneficial for employees.

Creativity

The most sought after professionals are those that are most linked to the development of technology (data analysts, cybersecurity experts, artificial intelligence engineers, lawyers specialized in new technologies,...). It does not mean that there is not a gap for professionals with a more creative profile such as growth hackers. In fact, innovation will be very present in the new work philosophy. In order to find new solutions, it will be necessary to stimulate a creative thinking in the work environment.

Artificial intelligence

This is a segment that is growing steadily. Such is the case that experts at Randstad (Argentina) claim that it may become a new category of employment. According to the data of AER-ATP, the Spanish Association of Robotics and Automation of Production Technologies, Spain occupies the eleventh place in the ranking of countries with the highest index of robotization in daily processes. Automation is just the first step. The progress on technology will be closely linked to the future of work.

New trends in Human Resources

As work changes, the approach of Human Resources professionals will also do it. They will have to continually come up with new strategies and solutions that help to attract, motivate and retain employees. Among them, the analytical approach (people analytics) and the greater bet on earning talent loyalty (compensations custom designed for the worker) will stand out. On the other hand, the new work model that will be characterized, among other things, by the emancipation of professionals (workers by projects, freelancers, collaborators,...), will also influence the HR department, they will be more focused on the personalized needs of each professional. In fact, some experts suggest that these departments could become a kind of professional career agencies.

At The CEU IAM Business School, we bet on an educational training that is aligned with the keys of organizational transformation. Sign up for our Master's Degree in Human Resources, Management of Talent and Leadership and become one of the professionals who will lead the change in the labor market.

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