The future of work is evolving every day as we are introduced to the latest macro trends that shape the strategies of both employers and employees.
Various questions arise regarding the future of work. Is it upskilling? or process automation? What will the coming days reflect upon the workforce strategies? The World Economic Forum (WEF) has some answers to these most sought after questions.
In the latest WEF report titled ‘Future of Jobs Report 2025’, the forum has given a peak into the major drivers expected to shape and transform the global labour market by 2030.
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Workforce strategies to look out for:
Upskilling the workforce emerges as the most common workforce strategy in response to macrotrends, over the 2025-2030 period, with 85% of surveyed employers anticipating adopting this approach, says WEF.
The report said out of every 100 workers from the global workforce, 59 are projected to require reskilling or upskilling by 2030, but out of this 11 are unlikely to receive it which suggests that over 120 million workers are at medium-term risk of redundancy.
Upskilling, Process & task automation and hiring new staff with emerging in-demand skills are among the top 3 priority workforce strategies that needs to be looked out for over the 2025-2030 period, as per WEF.
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Talking about numbers, 63% of employers intend to complement and augment their workforce with new technologies and 70% of organisations surveyed plan to hire new staff with emerging in-demand skills.
As much as there are numerous reasons for the shaping up of future workforce strategies, there are some key barriers to organisational transformation too.
Skill gaps in the labour market are the primary barrier to business transformation, mentioned the WEF report. 63% of surveyed employers agree with this fact. This skill challenge persists across almost all industries and geographies, ranking first in 52 out of 55 economies and 19 out of 22 sectors.
Organisational culture and resistance to change is the second most perceived barrier to transformation with 46% of respondents agreeing that it is a key obstacle, which highlights the anticipated challenge of aligning internal processes, organisational structures, hierarchies and mindsets in responding to the trends and disruptions companies expect to face, informed the report.
32% of the respondents also highlighted a lack of adequate data and technical infrastructure as an additional obstacle to organisational transformation.
Also Read: Urgent upskilling needed to cater 78 million new job opportunities by 2030: WEF Report
