Well, here we are, half-way through 2020. The first new decade that I remember where it is recommended that you use the full 4 digits in a date field (the year 2000 introducing the new millenium). The new decade has arrived bringing major changes in the employment landscape, which will undoubtedly last into the future.
What can we expect for the next 10 years? In a Dec. 2019 Inc. Magazine article, “8 Ways the Workforce Will Change in 2020, According to Business Leaders” the Young Entrepreneur Council shared their top predictions for the way work will look in 2020 and beyond. Here are some some highlights ………..
- More remote work options – “If companies want to stay competitive with attracting the most skilled candidate for a job, working remotely, at least part-time, will have to become a necessary part of the employee package”, according to Leila Lewis, founder and CEO of Be Inspired PR. This is especially likely in the post COVID pandemic world. Employers that have had their employees working from home to avoid the spread of the virus are finding that there are advantages to maintaining this arrangement. A negative aspect for workers is that employers are also finding that they will not need to bring back all of the people that have been furloughed or laid-off due to the pandemic. Many of those workers affected will re-enter employment through temporary, contract or self-employment avenues.
- Shorter workweeks – “The business world is buzzing about Microsoft’s successful four-day workweek experiment in its Japan office…” as noted by Nicole Munoz, founder and CEO of Nicole Munoz Consulting, Inc.. This provides more “home time”, more time to wind down, improved work/life balance.
- The disappearance of ‘corporate ladder’ aspirations – According to Solomon Thimothy, president of OneIMS, this concept is slowly dying as people’s attitudes toward work change. Expect growth of “side hustles” and “bridge gigs”, as ways for workers to increase their income and/or transition to self-employment. As noted in the book “The Gig Is Up” by Olga Mizrahi (2018), “By the year 2020, it is estimated that 50% of the US workforce will be working independently.”
Consider this- since the mid 1900’s there has been a dramatic shift in the employment pattern, from the traditional one job for life… to four or five “full-time” jobs over a career… to the present pattern of four or five jobs/gigs at the same time (part-time, temporary, contract employment, etc.).
Job security is a thing of the past. Income security will depend on our ability to provide something of value to others, whether it’s as an employee, business owner, independent contractor, or freelancer.
Welcome to the new decade…welcome to change.