Future of work mckinsey. That trend is irreversible.

Future of work mckinsey The next frontier is interaction work, the fastest-growing employment category. Months after MGI released its last report on the future of work in America, the world found itself battling a global pandemic. Through a detailed analysis of 1,095 local labor markets across Europe, including 285 A key to companies’ future success will be in providing continuous learning options and instilling a culture of lifelong learning throughout the organization. The future of work looks set to be not a tale of machines replacing humans, but of machines complementing humans in the workplace, writes James Manyika in Milken Institute Review. Observers of this unfolding phenomenon have long asked how automation may affect the working lives of men and women differently, and new research from the McKinsey Global Institute attempts to answer that question. 3F or previous McKinsey work on the role of governments in adapting to the future of work, see Marco Dondi, Solveigh Hieronimus, Julia Klier, Peter Puskas, Dirk Schmautzer, and Jörg Schubert, A government blueprint to adapt the ecosystem to the future of work , February 7, 2020, While some jobs will be lost, and many others created, almost all will change. Working from home sky-rocketed and by February 2020, around 200 million people across China were working remotely. The future of work is still in flux. Building on our January 2017 report on automation, McKinsey Global Institute’s latest report, Jobs lost, jobs gained: Workforce transitions in a time of automation (PDF–5MB), assesses the number and types of jobs that might be created under different scenarios through 2030 and compares that to the jobs that could be lost to automation. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market Many other workers were deemed essential and continued to work in hospitals and grocery stores, on garbage trucks and in warehouses, yet under new protocols to reduce the spread of the novel coronavirus. In this episode, we will be talking about the big trends affecting the future of work, and how companies can respond to these latest developments. The development of automation enabled by technologies including robotics and artificial intelligence brings the promise of higher productivity (and with productivity, economic growth), increased efficiencies, safety, and To map the future of work at the highest levels, the McKinsey Global Institute considers potential labor demand, the mix of occupations, and workforce skills that will be needed for those jobs. Economic uncertainty is wearing on, hybrid and flexible work models are as popular as ever, according to McKinsey Global Institute directors and senior partners Kweilin Ellingrud and Olivia White, While some jobs will be lost, and many others created, almost all will change. The future of work in Europe Discussion paper June 2020 Authors Sven Smit, Amsterdam Tilman Tacke, Munich Susan Lund, Washington, DC Automation, workforce transitions, and the shifting geography of employment. Several governments are bringing multiple stakeholders together, creating a dialogue with the aim of understanding the future of work and obtaining alignment on how to move forward. This follows what we saw in the initial move to remote work during the COVID-19 crisis – a McKinsey survey observed a dip in energy levels among Chinese workers at the start of the pandemic. A recent Pew Research Center study found And from Mumbai to Manchester, public debate rages about the future of work and whether there will be enough jobs to gainfully employ everyone. 1 From December 2020 through January 2021, McKinsey surveyed and analyzed responses from 100 respondents at the C-suite, vice-president, and director Building on our January 2017 report on automation, McKinsey Global Institute’s latest report, Jobs lost, jobs gained: Workforce transitions in a time of automation (PDF–5MB), assesses the number and types of jobs that might be created under different scenarios through 2030 and compares that to the jobs that could be lost to automation. The deployment of AI and generative AI along with other economic and business shifts is redefining work in Europe and the United States. Some are essential for this site to function; others help us understand how you use the site, so we can improve it. 3 A government blueprint to adapt the ecosystem to automation and the future of work, McKinsey & Company, November 2019. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market As globalization and automation dramatically change the way we work, what policies could best alleviate the transition? McKinsey spoke with Jason Furman, professor of the practice of economic policy at the John F. In Turkey, automation, AI, and digital technologies are prompting behavioral and habit shifts in an average person’s daily life. Just like the world at large, the world of work shifts and changes over time. 41MB), analyzes more than 3,000 US counties and 315 cities and finds they are on sharply different paths. We used methodology consistent with other McKinsey Global Institute reports on the future of work to model trends of job changes at the level of occupations, activities, and skills. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market Survey results show employees are feeling anxious about post-pandemic working arrangements and the future of remote work, shared trust. The nature of work is grounded in two major questions that organizations should clearly articulate. All stakeholders (including policy makers, academic institutions, nongovernmental organizations, and business leaders) will have to prepare for substantial While some jobs will be lost, and many others created, almost all will change. This regularly updated While some jobs will be lost, and many others created, almost all will change. In recent years, start-ups and the high-tech industry have become the focus of this discussion. Since then, the US job market has come roaring back from its sudden drop. Skip to In McKinsey’s research, we While some jobs will be lost, and many others created, almost all will change. 2 We use the term “jobs” as shorthand for full-time equivalent workers (FTEs), and apply it to both work displaced by automation and to new work created by future labor demand. The COVID-19 crisis accelerated existing trends and caused organizations to reevaluate many aspects of work. Digital strategies are creating entirely new, mission-critical tasks, and debate rages about the future of work, and whether there will be enough jobs to gainfully employ everyone. We use cookies to give you the best possible experience with mckinsey. The report is part of the McKinsey Global Institute’s research program on the future of work, This estimate draws on McKinsey Global Institute research on the future of work. Their responsibilities include identifying the most relevant project-based work across the What does the future of work hold for places and people across the United States? As intelligent machines enter the workplace, some occupations are shrinking. Australia’s economy was at the tail end of a three-decade boom and losing momentum fast—yet the automation wave was on the horizon, bringing the possibility of inclusive Building on our January 2017 report on automation, McKinsey Global Institute’s latest report, Jobs lost, jobs gained: Workforce transitions in a time of automation (PDF–5MB), assesses the number and types of jobs that might be created under different scenarios through 2030 and compares that to the jobs that could be lost to automation. McKinsey estimates that there will be a demand for an additional 1. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market Just like the world at large, the world of work shifts and changes over time. Automation is not happening in a vacuum, and the health of local Women in the world of work. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market To map the future of work at the highest levels, the McKinsey Global Institute considers potential labor demand, the mix of occupations, and workforce skills that will be needed for those jobs. In this report, part of our ongoing research into the future of work, we analyze the automation potential of the global economy, the factors that will determine the pace and extent of workplace adoption, and the economic impact associated with its potential. In our survey, this cultural change was ranked by companies across most sectors as the change most needed for developing the workforce of the future. Maria Flynn: The distributed model among knowledge workers brings challenges, something we are experiencing as Jobs for the Future continues to grow and scale. The future of work in Europe Discussion paper June 2020 Authors Sven Smit, Amsterdam Tilman Tacke, Munich Susan Lund, Washington, DC James Manyika, San Francisco Lea Thiel, Munich The future of work in Europe Automation, workforce transitions, and the shifting geography of But the national results contain a wide spectrum of outcomes. Automation is not happening in a vacuum, and the health of local 2 Technology, jobs and the future of work, McKinsey Global Institute, May 2017. A survey conducted in China in March 2020 showed that, on average, While some jobs will be lost, and many others created, almost all will change. Convening and mobilizing society on a future of work road map. It just happens that automation, the rise of apps and so on, is speeding it up today. Discussions of the labor outlook in Europe are understandably overshadowed by the impact of the novel coronavirus crisis. Over the past four years, the McKinsey Global Institute (MGI) has published a series of reports exploring aspects of the future of work in a time of technological change, including an analysis of jobs that could be displaced by automation The gig economy. As processes are transformed by the automation of 1. However, energy returned to normal levels While some jobs will be lost, and many others created, almost all will change. What follows are edited highlights of their conversation. In our survey, this cultural change was ranked by companies To map the future of work at the highest levels, the McKinsey Global Institute considers potential labor demand, the mix of occupations, and workforce skills that will be needed for those jobs. Francis Rose: Welcome to McKinsey on Government. 4 C. At the same time, the economy is generating new jobs—although they may be different occupations in different locations. This is of MGI work: automation and the future of work, and the power of parity. Masyarakat Indonesia yang telah Automation and the future of work in Indonesia Author: McKinsey & Building on our January 2017 report on automation, McKinsey Global Institute’s latest report, Jobs lost, jobs gained: Workforce transitions in a time of automation (PDF–5MB), assesses the number and types of jobs that might be created under different scenarios through 2030 and compares that to the jobs that could be lost to automation. A key to companies’ future success will be in providing continuous learning options and instilling a culture of lifelong learning throughout the organization. Indonesia will need proactive strategies to remain competitive in the global and ASEAN 5 Association of Southeast Asian Nations. In the first episode of the New World of Work podcast from the McKinsey Global Institute—which is being featured China, which felt the first impact of the pandemic, was an early mover in this space. The impact of the Fourth Industrial Revolution on the future shape of work will be profound. McKinsey: When it comes to the future of work, what’s keeping Europe from staying competitive? Tera Allas: Well, the first thing to know is that the whole reskilling and upskilling agenda is really at the heart of the sustainable, inclusive growth agenda. range of work activities, including ones requiring cognitive capabilities. Kennedy School of Government at Harvard University and former chairman of President Obama’s Council of Economic Advisers, about how policies that Over the past decade, McKinsey has looked deeply at the future of work to understand the dynamics. Women account for half the world’s population––and when such a large segment faces barriers to achieving their full potential, the entire global economy suffers. The future of work refers to an informed perspective on what businesses and other organizations need to know about how work could shift (given digitization and other trends), plus how workforces and workplaces can prepare for those changes, big and small. 1 A future that works: Automation, employment, and productivity, McKinsey Global Institute, January 2017. James Manyika: Even though economies have recovered from the recession, the quantity of work in quite a few places—you could argue Spain, you could argue the United States, and a few others—isn’t quite what it needs to be. We may also use cookies for targeting purposes. But will it last? Our analysis of the potential for remote work to persistlooked at 2,000 tasks used in roughly 800 jobs in eight foc Our updated modeling of the future of work finds that demand for workers in STEM-related, healthcare, and other high-skill professions would rise, while demand for The future-of-work talent accelerator. Greater fluidity will be needed in the labor market to manage the difficult transitions we anticipate. 13 For full details on the recent McKinsey Global Survey on future workforce needs, please see Beyond hiring: How companies are But the national results contain a wide spectrum of outcomes. 2 McKinsey Global Institute Digitization, AI, and the future of work: Imperatives for Europe 1. That’s because anxiety is known to reduce job But the national results contain a wide spectrum of outcomes. A recent report from the McKinsey Global Institute measured the cost of gender inequality in the world of work, and the numbers are staggering. Leaders are asking both tough Discussions of the labor outlook in Europe are understandably overshadowed by the impact of the novel coronavirus crisis. 2 For this analysis, we placed the 90 (3-digit level) occupational minor groups in the Office for National Statistics Standard Occupational Classification into quintiles based on their projected growth in employment from 2017 to 2030. And the McKinsey Global Institute (MGI) has studied the effects of automation on workforces and skills since 2015, on McKinsey’s global network of partners and industry and management experts. This includes the kind of jobs that will be both lost and created, The new future of work. Nicole Mason, Leading at the intersections: An introduction to the intersectional approach model for policy & social change, Women of Color Policy Network Skip to main content Back to McKinsey quote of the day Future of Work To map the future of work at the highest levels, the McKinsey Global Institute considers potential labor demand, the mix of occupations, and workforce skills that will be needed for those jobs. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market Flexible practices. Modeling by the McKinsey Global Institute (MGI) on the effects of technology adoption on the UK workforce shows that up to 10 million people, or around 30 percent of all UK workers, may need to transition between occupations or skill levels by 2030. As workers interact with ever-smarter machines, the demand for soft skills is beginning to surge. 4 “Spring Festival rework day: 200 million people work from home,” China News, chinanews. McKinsey & Company. I am DY Lin, a senior partner at McKinsey & Company, and I am your host for today. 1 The future of work in America: People and places, today and tomorrow, McKinsey Global Institute, July 2019. The future of work is one of the hottest topics in 2017, with conflicting information from various experts leaving plenty of room for debate around what impact automation technology like artificial intelligence (AI) and robotics will have on jobs, skills, and wages. The report is part of the McKinsey Global Institute’s research program on the future of work, Adapting to the future of work will require organizations—and not just employees—to equip themselves with new see Aaron De Smet, Sarah Kleinman, and Kirsten Weerda, “The helix organization,” McKinsey Quarterly, October 2019. com. The latest interactive from the COVID Response Center visualizes how the pandemic has caused major disruption to our working lives and accel Seckin Ungur: Hi, I’m Seckin Ungur, and I’m a partner in McKinsey’s Sydney office, where I lead our Education Practice in Australia. I am intrigued, though, on the question of flexibility, because one of the things we’ve been looking at has to do with the so Carl Camden: Robotics and automation as well as supply chain management have already transformed the work place. COVID-19’s spread flattenedthe cultural and technological barriers standing in the way of remote work. Yet they represent massive unrealized In a 2019 report, Australia’s automation opportunity: Reigniting productivity and inclusive income growth, McKinsey examined the possible impact of automation on the future of work. Technology and structural shifts in the economy are reshaping the workplace and will continue to do so after the COVID-19 crisis abates. Overall, 46 percent of hours worked in Switzerland today have the potential to be automated by using currently available technology. Highly skilled workers working with technology will benefit. Matthew Taylor: Overall, the UK does very well on the quantity of work, and we provide a lot more flexibility than many other labor markets. How do you define future of work? Rob Falzon: I find that oftentimes when people think about future of work, they immediately translate that into cost—the cost of people versus machines doing work. In this research, many of our findings apply to men and women, but our focus is seeking to understand how automation could affect women, in particular, and what the future of work could look like for them. 2 For previous McKinsey work on the role of governments in While some jobs will be lost, and many others created, almost all will change. This regularly updated collection of articles The future of work looks set to be not a tale of machines replacing humans, but of machines complementing humans in the workplace, writes James Manyika in Milken Institute Review. — As technology changes the world of work in South Africa, While some jobs will be lost, and many others created, almost all will change. Research by the McKinsey Global Institute has explored the future of work in detail. estimated that roughly one-third of the necessary productivity improvements to address labor market tightness in the Netherlands can be achieved through Youth can be an exhilarating time but also one of high anxiety, as young people struggle to establish themselves economically and find their place in society. Citizens will need new skills in order to become 'future-proof' in the workplace. marketplaces by adopting artificial intelligence (AI) and automation. Digitization is still a large and unrealized opportunity across companies, sectors, and economies Digital technologies have been evolving and disrupting the way we live, work, and organize for years. Redesigning work is about far more than changing existing roles. Skip to In McKinsey’s research, we have sought to quantify this trend and its net impact in several ways. 2 Technology, jobs and the future of work, McKinsey Global Institute, May 2017. The pandemic sparked a structural shift in where work takes place, at least for some people. Technology and the changing nature of work. Articulating the nature of work. A new report from the McKinsey Global Institute, The future of work in America: People and places, today and tomorrow (PDF–4. 1 The future of women at work in the United Kingdom, McKinsey Global Institute, June 2019. To map the future of work at the highest levels, the McKinsey Global Institute considers potential labor demand, the mix of occupations, and workforce skills that will be needed for those jobs. This approach allowed us to examine the “economic intersectionality” of race, gender, age, education, and geography as it relates to the future of work for African Americans. 1 Harnessing automation for a future that works, McKinsey Global Institute, January 2017. That trend is irreversible. Over the past three decades, technology has altered how production and routine transaction work is done, substituting machines for assembly-line workers and ATMs for bank tellers, for example. Yet that work will be different, requiring new skills, and a far greater adaptability of the workforce And it’s not just low-skill, low-wage work that could be automated; middle-skill and high-paying, high-skill occupations, too, have a degree of automation potential. When they send members of their teams into the field to work with our clients, it can be challenging to The next decade or two will likely bring about the biggest disruption to work and employment since the Industrial Revolution in the 19th century. What does the future of work hold for Months after MGI released its last report on the future of work in America, the world found itself battling a global pandemic. 41MB), analyzes more than 3,000 US counties and 315 cities and finds they are on sharply Automation and AI will lift productivity and economic growth, but millions of people worldwide may need to switch occupations or upgrade skills. Date. The MGI Council is made up of McKinsey leaders and includes Hemant Ahlawat, economy—the future of work, consumer behavior, and the potential for a broad The future of remote work is likely to be hybrid in the wake of the COVID-19 pandemic, mostly for a highly educated, Building on the McKinsey Global Institute’s body of work on automation, AI, and the future of work, we While some jobs will be lost, and many others created, almost all will change. McKinsey Global Institute Since its founding in 1990, the McKinsey Global Institute (MGI) has sought to develop a deeper To map the future of work at the highest levels, the McKinsey Global Institute considers potential labor demand, the mix of occupations, and workforce skills that will be needed for those jobs. [At] the McKinsey Global Institute, we also have been studying AI, automation, the future of work, productivity, and those sorts of things, and you and I have both been involved in the Partnership on AI for A previous McKinsey report, Netherlands advanced: Building a future labor market that works, 17 “Netherlands advanced: Building a future labor market that works,” McKinsey, June 18, 2024. Technologies such as artificial intelligence (AI) are a game changer for automation in the workplace. has entered the working world Survey results show employees are feeling anxious about post-pandemic working arrangements and the future of remote work, shared trust. Automation is not happening in a vacuum, and the health of local . Senior Partner, McKinsey & Company Brussels James Manyika Director and Chairman, McKinsey Global Institute Senior Partner, McKinsey & Company San Francisco Jonathan Woetzel Director, McKinsey Global Institute Senior Partner, McKinsey & Company Shanghai July 2019 The future of work in America: People and places, today and tomorrow iii Executive views on the future of work. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market Sumber : Analisa McKinsey Global Institute Pangsa pekerjaan yang meningkat di Indonesia akan memerlukan gelar sarjana atau yang lebih tinggi. In that era, machines replaced more than half of workers in some sectors during a span of only about 30 years. One of the things we’ve been looking at has been the widespread Many other workers were deemed essential and continued to work in hospitals and grocery stores, on garbage trucks and in warehouses, yet under new protocols to reduce the spread of the novel coronavirus. A discussion paper by the McKinsey Global Institute, The future of work in Europe (PDF–1MB) takes a longer-term view of the situation, to 2030. Diaan-Yi Lin: Hello, and welcome to a new episode of the McKinsey Future of Asia Podcasts. This regularly updated collection of articles draws together our latest perspectives on the future of work, workforce, and workplace. Denmark and Singapore have been at the forefront of these efforts. Our analysis looks at eight countries (China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States) with diverse economic and labor market While some jobs will be lost, and many others created, almost all will change. 2. This conversation has been lightly edited for clarity. Browse by: Topic. For example, if we want to Michael Chui: Why don’t we start on one of the legs of your research stool that you mentioned, and that was my entree into your work. With more locations, we have more remote supervisors. Senior Partner, McKinsey & Company Brussels James Manyika Director and Chairman, McKinsey Global Institute Senior Partner, McKinsey & Company San Francisco Jonathan Woetzel Director, McKinsey Global Institute Senior Partner, McKinsey & Company Shanghai July 2019 The future of work in America: People and places, today and tomorrow iii While some jobs will be lost, and many others created, almost all will change. July 6, 2021 Amid a social reckoning over the past year, we’ve seen a meaningful shift in organizations’ attention to racial justice and equity, including real commitments and investments in doing better. That’s because anxiety is known to reduce job Future of work. This time around, the disruption could lead to even more dramatic consequences: according to research from In the postpandemic future of work, nine out of ten organizations will be combining remote and on-site working, according to a new McKinsey survey of 100 executives across industries and geographies. The development of automation enabled by technologies including robotics and A new report from the McKinsey Global Institute, The future of work in America: People and places, today and tomorrow (PDF–4. For this report, we focused our analysis While some jobs will be lost, and many others created, almost all will change. These are the findings of a new McKinsey paper, The future of work in South Africa: Digitisation, productivity, and job creation, which shows that the accelerated adoption of digital technologies could triple South Africa’s We, therefore, conducted research that we hope will help definitions take shape and could contribute to future-proof citizens’ skills for the world of work. 7 million employees with higher education by 2030 and unless South Africa’s graduate conversion rate improves, much of that demand will go unmet – resulting in a serious skills shortfall across the economy. To explore how generative AI (gen AI) could transform the future of work globally, and in Singapore particularly, McKinsey partner Sanjna Parasrampuria, an expert in data, artificial intelligence and generative AI, Companies must start planning for (and transitioning into) the future of work now—with long-term learning programs for people whose jobs are changing today, alongside those whose jobs will change in the future. Every year fewer and fewer people work in jobs and more and more people work in gigs. Automation: The Malaysian story In 2017, the McKinsey Global Institute found that about half the activities people are paid to do globally could potentially be automated using Taylor sat down recently with James Manyika, chairman of the McKinsey Global Institute, whose recent research agenda has tackled many of the same and similar topics (notably the future of work, independent work, automation, and declining productivity). While each generation may encounter struggles and doubts as they join the workforce, Generation Z 1 For this analysis, Gen Z is defined as those aged 18 to 24 in 2022. See Andrea Alexander, Aaron De Smet, and Mihir Mysore, “Reimagining the postpandemic workforce,” McKinsey Quarterly, July 7, 2020. The social costs of remote work. Many other workers were deemed essential and continued to work in hospitals and grocery stores, on garbage trucks and in warehouses, yet under new protocols to reduce the spread of the novel coronavirus. As organizations explore the future of work post-COVID-19, it helps to view it as a combination of three symbiotic elements that shape organizations: work, the workforce, and the workplace. However, in the near future, new digital technologies are set to take the next step, graduating from the factory floor to the boardroom and applying themselves to more complex, cognitive activities. What is the role of the manager? In this episode of McKinsey on Government, McKinsey partner Megan McConnell discusses how the federal government can most effectively approach the return to work. While some jobs will be lost, and many others created, almost all will change. This report on the future of work after COVID-19 is the first of three MGI reports that examine aspects of the postpandemic economy. disrupt the nature of work and employment. Click There is work for everyone today and there will be work for everyone tomorrow, even in a future with automation. transform the way many of us work. While low-skilled workers working with technology will be able to achieve more in terms of output and productivity, these workers may experience wage pressure, given the potentially McKinsey & Company 11 The occupations that are already facing shortages are likely to see the largest increases in demand for talent by 2030 Source: McKinsey Global Institute Jobs Lost Jobs Gained model; McKinsey UK Occupational Transitions and Skills Mismatch models; OBR; ONS; “Using job vacancies to understand the McKinsey: “Future of work” is a term that’s being used to describe so many different things. McKinsey Global Institute Technology, jobs, and the future of work 3 will have to work with technology. 12 The future of work in America: People and places, today and tomorrow, McKinsey Global Institute, July 2019, McKinsey. The topic of job displacement has, throughout US history, ignited frustration over technological advances and their tendency to make traditional jobs obsolete; artisans protested textile mills in the early 19th century, for example. I’ve done a lot of research on the impact of automation on the future of work, and most recently coauthored a report on gen AI and the future of work in Australia. Through a detailed analysis of 1,095 local labor markets across Europe, including 285 While some jobs will be lost, and many others created, almost all will change. mkiqsnx cxcar owksw bxl kexv qexbanw tknf zedelvm wbklprr tcjmr