Evolving and Thriving in a Changing Corporate Landscape

The impact of automation and artificial intelligence (AI) on the workforce is significant and well-documented. We have seen many shifts already happening with the new advent of generative AI. This new technology burst onto the scene alongside the pandemic, which began a global workforce shift away from jobs that could be automated to more STEM, tech, and skills-based labor. According to a study by McKinsey & Company, published in July 2023, around 8.6 million job transitions occurred between 2019 and 2022, and further significant changes are on the horizon. They anticipate an additional 12 million occupational shifts by the year 2030. Automation due to AI is one large contributing factor. Automation from generative AI could take over tasks accounting for 29.5% of the hours worked in the US economy by 2030. It's essential to note that while some jobs may be automated, new roles and opportunities will emerge alongside this change. These occupational shifts have led to higher demands for skills training, and upskilling to meet the changing technological demands. As workers shift gears and focus on jobs that work alongside AI, both employees and corporate leadership should prioritize developing skills that complement AI. A report by the World Economic Forum in 2020 highlighted that skills such as critical thinking, problem-solving, and emotional intelligence will be in high demand. Organizations can facilitate this transition by investing in upskilling and reskilling programs to adapt their teams and encourage career growth from employees alongside this budding technology.

The COVID-19 pandemic accelerated the adoption of remote work, and this shift is here to stay. Employees now expect greater flexibility in how and where they work, so much so that a recent survey showed that 67% of the respondents said they would be willing to give up a portion of their salary to have a hybrid work schedule. Remote and hybrid work offers benefits like reduced commute times, increased work-life balance, and access to a global talent pool. However, it also presents challenges in terms of maintaining team cohesion and ensuring productivity.

Organizational priorities need to be investment in technologies and policies that support remote work, prioritize mental health and well-being, and provide clear guidelines for remote team collaboration. Employees must adapt to remote work routines, maintain clear communication, and seek opportunities for skill development to excel in this new landscape.

These new virtual team dynamics require a new set of skills by leaders, so organizations that prioritize training for leaders and team dynamics will learn to thrive in this new hybrid work landscape.

Diversity, equity, and inclusion (DEI) are becoming increasingly central to organizational success. Research from McKinsey & Company in 2020 found that companies with diverse executive teams are 33% more likely to outperform their peers. This underscores the importance of fostering a diverse and inclusive workplace. A survey by Glassdoor revealed that 67% of job seekers consider workplace diversity when evaluating job offers. Organizations should prioritize DEI initiatives to attract top talent and create an environment where everyone can thrive.

DEI training fosters skill development and awareness, equipping employees with the tools needed to navigate diversity-related challenges effectively. A survey by the Society for Human Resource Management (SHRM) revealed that 61% of organizations with DEI training programs reported an increase in employees' awareness of unconscious biases. Beyond the cultural and moral reasons, DEI training can also mitigate legal and reputation risks. A 2022 report by Affirmity showed that organizations that perform better in the area of DEI practices are more

likely than others to provide training for pay equity, communication practices, antiracism, inclusion awareness and inclusive recruitment policies

In today's rapidly changing job market, staying competitive and adaptable is essential for career success. One of the most effective ways to achieve this is through upskilling—acquiring new skills or enhancing existing ones to meet evolving job demands. Employee satisfaction also heavily weighs on being offered new opportunities to learn new skills and grow in their careers. This has led to the recognition that lifelong learning is the future of work.

According to the LinkedIn 2023 Workplace Learning Report, skills sets for jobs have changed by around 25% since 2015. By 2027, this number is expected to double. That same report also noted that 93% of organizations are concerned about employee retention, and have identified that the #1 focus to keep employees is by providing learning opportunities. Nearly 94% of workers said development opportunities would keep them in a role.

Embracing the path of continuous training is not only beneficial for individuals but also essential for organizations seeking to remain competitive and adaptable in the face of evolving job demands. Organizations that invest in reskilling and upskilling programs will have a more adaptable and skilled workforce, effective leadership, and will ultimately enhance their competitiveness in the evolving job market.