The Future of Work: A Provocative Look at the World to Come
- Avy-Loren Cohen
- Feb 24
- 12 min read
Introduction
Since Covid in 2020, The business world has had many changes as have the minds of many employees, management, and entrepreneurs. The old model of “working 9 to 5, what a way to make a living”… has somewhat gone by the DoDo bird. The future of work is a prevalent topic both from a business perspective and a technological perspective as the two are very much intertwined. Of course, AI is a big ingredient.
The way management and companies manage work, staff, and deliverables has and still is undergoing a seismic shift, driven by technological advancements, globalization, and changing societal expectations and values. The future of work is no longer an intelligent idea — it is here to stay and it is a work in process as it is constantly redefining the way we interpret how employees interact and deliver value. As we navigate this uncharted territory, it is crucial to examine the trends that are shaping the future of work, the challenges that lie ahead, and the opportunities that await us.
The Rise of AI and Automation
Artificial intelligence (AI) and automation are revolutionizing the workplace, transforming the way we work and the nature of work itself. While these (and other) technologies offer immense potential for increased efficiency and productivity, they also raise concerns about job displacement, the widening skills gap, and of course how it will affect the real estate market and secondary service businesses like food service. As machines become increasingly capable of performing tasks traditionally done by humans, the demand for human labor may decline in certain sectors. However, it is important to note that AI and automation are also creating new jobs and opportunities in fields such as data science, machine learning, and robotics.
One this that is for certain, regardless of how a person feels about technology or the pace at which it advances, it is moving faster and is becoming more impactful in how people make a living. There are many fields of work where technology is threatening to reduce the number of staff, or eventual elimination of employees, and some key areas include but are not limited to Content creation, Software coding, Graphic design, Customer service, and much more. If you notice, the common issue with the list is technology. Essentially almost anything that can be automated is at risk.
This is not even the tip of the iceberg, the list is deep and wide and there is much for concern for the average individual who is in a place where technology can replace a human being. I would even suggest that many people should seriously consider their career plans against where technology is and acquire additional skills and experience so they can insulate themselves from becoming irrelevant. Harsh words — but very true I am sad to state.
The Gig Economy and the Freelance Revolution
The rise of the gig economy and the freelance revolution are reshaping the traditional employer-employee relationship. With the increasing availability of online platforms and remote work tools, more and more people are opting for flexible, independent work arrangements. This shift is driven by a desire for greater autonomy, work-life balance, and the ability to pursue multiple passions. However, the gig economy also presents challenges, such as job insecurity, lack of benefits, and difficulty in building a long-term career.
The Impact of Globalization
Globalization has had a profound impact on the world of work, leading to increased competition and the outsourcing of jobs to lower-cost countries. This also ties into the gig economy as freelancers from low-cost countries like India offer reasonably decent value for the dollar for their work as seen on sites such as Fiverr, Upwork, Freelancer, PeoplePerHour, and more. In addition to this, LinkedIn has also played a major role in enabling foreign and low-cost companies and contract workers to promote their business to Western companies. I receive over 100 messages from service providers via LinkedIn touting low-cost (and supposed high-quality) digital services (web, IT, data, programming) as well as finance and accounting, customer service, virtual assistant, and much more. While this has benefited some companies through lower prices, it has also led to job losses in developed economies.
As globalization continues to reshape the global economy, it is essential to develop policies that support workers and businesses in adapting to these changes. It is difficult for Western freelancers (UK, Canada, USA, Germany, etc.) to compete with those coming from places like India, Bangladesh, Nepal, China, Czech Republic, Russia, Latvia, Spain, Pakistan, etc… For those in the know, many do opt to go with Western-based freelancers as the level of quality is generally much higher, language barrier and accents are generally not an issue, and accountability is easier if more local even if it costs much more.
The Changing Nature of Work
The future of work is not just about jobs and careers; it is also about the nature of work itself. As technology continues to advance, the lines between work and leisure are blurring. With the rise of remote work and flexible schedules, the traditional 9-to-5 workday is becoming obsolete. This shift is leading to a more integrated approach to work and life, where individuals can balance their professional and personal commitments more effectively.
Before COVID-19 in 2020, Strategy consultants like myself had urged clients to consider remote work for years. The typical issues were not very complicated as it was usually about accountability, communication, quality of work, on-time deliverables, etc. What is interesting about COVID-19 is it forced companies to embrace remote work. Most companies realized that not only was the quality of work deliverables at par or better, but they also noticed that (some)employees ended up putting in more work hours than when they were physically coming to the office. This was a radical change for old-school management and executives. There were communication challenges as well as monitoring KPIs, but eventually, technology and people were able to overcome most if not all the issues and have realized that there is as good or better output from their staff.
This whole change led individuals, including senior management to realize that there was a massive improvement in the quality of their lives due to not having to wake up extra early and having to travel to work, plus, additional savings from transportation as well as purchasing food and beverage out, and a side benefit was drey cleaning went to an all-time low as people we not in formal business wear. Most people have experienced that business meetings have continued to be done virtually where people are still not wearing formal business wear and yet still being respected, still getting their jobs done, and everyone seems to be happy about this as well.
How to Boost Employee Productivity:
So remote work as a strategy to increase employee productivity is a real thing. There have been numerous studies of remote work by Stanford University, Harvard University, and the University of Chicago Another interesting piece of information was a two-year study by Great Place To Work® found that most employees maintained or increased productivity while working from home, contrary to initial expectations. As I work with clients around the globe I have always made it clear that my management and consulting practice is based on the premise that people make or break a company and that when a company is having issues or business is slowed it is not mostly due to outside forces, it is rooted in corporate culture, communication in the workplace, and the people in the company. So when I am working with executives, board, founders, and CEOs, I always look at the human element and assess the attrition levels and employee productivity trend lines. I am looking to make employee job satisfaction a corporate value, and what is interesting is that remote work becoming part of the job description (for those employees who wish to try or adopt this style of work), it always ends up benefitting the company in more ways than one.
Corporate Culture:
Companies typically invest a lot of time and money searching for a new employee, and they continue to invest more resources into the employee as time goes on. So, when an employee leaves (attrition), this sets back a company both in human and financial resources as well as productivity. This also impacts the company's morale when people leave a company, and if this is noticeable to employees, they tend to follow suit for various reasons beyond this article.
What is interesting about remote work and corporate culture is that it can boost employee morale, workplace satisfaction, and overall happiness with the company as it translates into their quality of life being improved. Some research has noted employee sentiment for remote working companies with feedback such as “Camaraderie and positive cultures that influenced longer-term productivity”, another powerful piece of feedback was “Employees in great workplaces believe their co-workers see them as whole people, with family, hobbies, and passions that they bring to work each day” — likely as a result of (as mentioned earlier) people dressed casual yet profession in their home environment with pets, children and other normalizing background information feeding to the team that would never get to know other team members this way, thus connecting people on a deeper level.
Management Mindset:
What is interesting in bosses (management) is employee distrust, but what is even more interesting is which demographic feels this way and if they are justified in their belief. In a Microsoft study, it was found that employees with full schedule flexibility reported a 29% higher level of productivity. In the same study, it also found that 49% of managers of hybrid workers had trust issues with their staff in doing quality work — which led Microsoft to create their own phrase for this as “productivity paranoia”. What is interesting about these findings is that the trust issues were stemming from older leaders in their 50s and even more in their 60s. The under-50 group was much more accepting (trusting) of hybrid (remote) work, and instead focused their attention on how employees do their work and do it well. So, in short, old-school management believes that in-office work is more productive — this is not factual and in fact, (peer-reviewed) research shows the opposite.
The mindset has to change to give remote work a fair chance, but another issue in management is the lack of knowledge of human psychology and neurology — how the human brain functions. According to an article in The Wall Street Journal, remote work empowers individuals to optimize their productivity by scheduling tasks during their peak energy hours, often outside the rigid confines of traditional 9-to-5 workdays. This personalized approach can significantly boost efficiency and job satisfaction.
But here is another twist for anyone who belives about employee trust in remote work versus higher productivity in the office. According to a study by vouchercloud.com, in-office employees only worked between 36% and 39% of the time! If one were to perform a little due diligence on Google and search for “remote work productivity” it is likely that you will find additional factual data to support this. Management mindset must change is the bottom line, and a lot has to do with the old notion that face time (in person) is how managers evaluate their staff. Perhaps changing this by getting the work done within a time frame or looking at clumping tasks into a time frame… whatever a manager selects, think of it as a measurable “deliverable” in an acceptable time frame, as well as the quality of work, and whoever else a manager likes to add such as attitude, etc.
The Role of Education and Lifelong Learning
In the rapidly changing world of work, education, and lifelong learning are essential for individuals to stay competitive and adapt to new technologies and skills. As the demand for specialized skills increases, it is crucial to invest in education and training programs that equip individuals with the knowledge and skills they need to succeed in the future of work.
This is much more easy to accomplish these days with numerous quality educational programs in various forms, being available online.
For anyone who wishes to stay on top of the technology curve as well as skills to stay relevant in their job or to be competitive continuing education is a must and here is a short list of sites you may wish to consider:
University of the People
The Future of Work: A Provocative Outlook
The future of work is a complex and uncertain landscape, but it is also an exciting time of opportunity. As we navigate the challenges and embrace the opportunities that lie ahead, it is essential to adopt a proactive and forward-thinking approach. By investing in education, technology, and human capital, we can create a future of work that is inclusive, equitable, and fulfilling for all.
It appears that for better or worse, COVID-19 became the springboard for change in the business world. It has changed things (some might say) for the better, and some may disagree. Many people who are working remotely have noted improvement in mental and physical health along with other benefits like it costs less to work, which means that they are making more money at the end of the day. What will continue to change is society which has to adapt to this change such as the real estate developers and property management companies in how the demand curve for office space has dramatically changed. The (food) service industry is not going to be doing as much office catering and parties as well as expecting as many employees purchasing food and beverages either. Companies also stand to benefit by reducing associated costs such as the consumption of various consumable goods from the bathroom and cleaning supplies to break room supplies and especially coffee and water jugs. But great savings come to real estate space where companies now require less square footage which means noticeable savings as it also connects to employee parking costs as well as insurance and the list goes on.
Societal Values Shifting:
For many years people wanted to live as close to work as possible, and typically most jobs were in the city, and especially white collar jobs were usually in the downtown core. Since the middle of Covid, there has been an interesting shit in people's values that have likely always been present, but the change in remote work has allowed for these values to finally be exposed. So what are these changes you ask? Real Estate! Location, location, and location are the three essential words people know about real estate which is why downtown property is typically of the highest value per square foot.
What has been happening are individuals moving away from the downtown core, even the midtown areas, and instead preferring to be in the more rural areas. Some individuals have even moved to bucket list-like areas such as Europe, an Island, or remote areas of their country. Many more have realized that since they work remotely, they do not even need to have long-term plans to stay in domicile and instead, with the advent of Airbnb, Vrbo, and others of the likes, will rent out properties around the globe for months at a time and have changed their domicile to “globe trotter”. So it has impacted travel, real estate, and much more. COVID has impacted the world in ways we may not all realize, but one thing that seems to continue is the ability to work remotely and how employees (and even management) have taken advantage by actually chaining their daily routines, their domicile and travel status — it is as if people have been reborn and woken up to realize that they have new freedom.
Provocative Questions to Consider:
Will AI (and ML) and automation in general, lead to mass unemployment, or will they create new opportunities for human ingenuity?
How can we ensure that the benefits of the gig economy are shared by all, and not just a select few?
What role should governments play in supporting workers and businesses in the age of globalization, especially as it relates to job erosion?
How can we redefine the concept of work to better reflect the changing needs and aspirations of individuals?
What skills and competencies will be most in demand in the future of work, and how can individuals obtain these skills and knowledge — with and without the help of an employer and the government?
How do we educate bosses and managers to accept that remote work is an effective framework for an employee?
How do we get senior management, the real decision-makers and corporate strategy creators to see human resources as a competitive advantage, and as such, remote work as a powerful form of advancing a company's overall performance KPIs?
Conclusion
By engaging in these discussions and exploring these questions, we can collectively shape the future of work in a way that benefits society as a whole. Senior executive decision-makers must value their employees and see them as a crucial ingredient in being the best in class as a competitive advantage and as part of the overall business strategy. All of this boils down to a changing mindset, that was forced upon us from the need to adapt to the work environment from covid19. How interesting is it that such an event would have massive changes in the world of business?
Hello, I am Avy-Loren, specializing in strategic business consulting and Executive Advisory services catering to companies worldwide across diverse industries. My expertise lies in collaborating with startups, founders, and public company CEOs, guiding them toward achieving their personal and professional aspirations with a sense of respect and pride. Throughout the past decade, I have actively co-founded three companies and currently serve as a co-founder and COO/CSO of a tech venture. Additionally, I have made investments in early-stage startups as an Angel investor, acted as a consultant and advisor for a prominent US-based VC firm, and mentored countless individuals and startups. I also encourage you to follow me on Medium and share this article with anyone you believe would benefit from its valuable insights. Together, we can overcome obstacles and drive success in the ever-evolving business landscape.
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