Article: WEF Davos Agenda 2022: 5 Shifts driving the new world of work

Leadership

WEF Davos Agenda 2022: 5 Shifts driving the new world of work

From workers switching industries to the rise of new job roles, here are five shifts that define the new world of work.
WEF Davos Agenda 2022: 5 Shifts driving the new world of work

How and where we work has seen a dramatic shift. This called for a profound rethink for leaders globally. We have seen many trends setting in and businesses trying to make the most of them. But we were losing on environmental progress, shares Allen Blue, Co-Founder and Vice President, Product Management, LinkedIn, as part of World Economic Forum’s Davos Agenda 2022. Climate change remains the biggest challenge for society as a whole. LinkedIn’s study shows the need for a mindset shift and every employee has a role to play. The enormous rise in remote work is clear evidence that we can bring about a positive change.

Remote/hybrid work continues to skyrocket 

At the end of 2021, the share of paid jobs allowing remote work had almost doubled. Roles involving remote work went from 6.5% in November 2020 to 12.6% in November 2021. To be able to maintain the competitive edge, employers are having to reconsider what they can offer, and how to make their workplaces more inclusive in hybrid settings. 

Employees are voting with their feet

In October 2021, the share of candidates changing roles was up 25%, compared to October 2019, when the virus had still not swept the world, with workers accelerating their journey by upgrading their skills. Employees took their time to revisit the why and what of their jobs and lives. This led to employees voting with their feet, adds the report. 

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Workers switching industries

In the US, workers cite better compensation and alignment with their career progression as the key triggers to switch industries. This is paving the way for profound change in the labour market and employees are more empowered to negotiate terms than in the past. The tightest labour market could get even tighter in 2022, adds the report.

New career opportunities

Both the UK and the US continue to see massive growth in engineering roles following the surge in demand for engineering and artificial intelligence roles prompted by the so-called Fourth Industrial Revolution. In the US, the fastest-growing roles were shaped over the last year with 'vaccine specialist' topping the list, according to LinkedIn’s Jobs on the Rise report. 'Laboratory scientist' and 'public health officer' make the top-20 list of fastest-growing roles in the UK.  

Worsening gender divide

Hires for engineering roles account for 80-90% of men. The clear worrying signs like this are a reminder to set the gender quotient right. According to a study by People Matters research - Women at Work– D&I Benchmarking Survey done in March 2021, about 50% of organisations agreed that there exist gaps and loopholes like gender stereotypes in the recruitment process, which is a major barrier to hiring more women in leadership.

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Topics: Leadership, #FutureOfWork, #BusinessTransformation, #HybridWorkplace

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