Future of work: People are still at the heart of success

The world of work is changing, from driverless cars to the gig economy. But what is the impact on our workplaces of the future and how we can prepare for it today? Over the last year, TRIEC worked with labour market analyst Tom Zizys to deepen our understanding of current and future labour market trends and how they will impact employers and skilled immigrants. Here’s a quick look at what we’ve learned.

 

In the fast lane with a driverless car

Technology has been changing our workplaces since the industrial revolution, but the speed of change, and the wide range of jobs it is impacting, is now challenging our capacities to adapt. For example, advances in artificial intelligence are starting to have an impact on non-routine jobs once the sole domain of humans, such as drivers and the rise of driverless cars.

Meanwhile, starting in the 1970s, companies began facing ongoing pressures from the stock market and other sources to cut costs and achieve ever greater financial results ever more quickly. The result has culminated in a severe disruption of the employer-employee relationship, with a move towards temporary, contract employment on an as-needed basis over more traditional permanent employment.

The combination of these two factors has increased the volatility of the business environment and is having a clear impact on the workplace and human resources.

 

We need perfection and we need it now

The pressure for quick, low-cost, high reward results has left no room for mistakes in the hiring process. This pressure to always hire the perfect candidate has resulted in two trends:

1. Candidates are expected to have the skills and experience to hit the ground running. Hiring for the long-term and investing in in-house talent is a luxury few can afford.
2. Credentials and experience have become paramount. When those factors are more difficult to discern or if there is a perceived need for more on-boarding, candidates can be easily dismissed.

 

Searching for perfect can mean missing the best

These two trends place those candidates who don’t neatly fit into the mold of the ‘ideal candidate’ at a disadvantage. Take skilled immigrants as an example. Hiring managers are often unfamiliar with credentials received overseas, can question experience received in organizations they’ve never heard of and assume that it will take more effort for immigrants to fit into the work culture.

The result is that companies don’t give full consideration to some of the best talent our region has to offer. What’s more, not only do they miss out on some great talent, they also miss out on building the very workforce they need to succeed in the future.  The current rapid pace of change means that companies are going to need the diversity of thought and innovation brought through diverse and inclusive workplaces in order to thrive in the future.

 

Slow down to speed up

Fortunately, good solid HR practices are primarily what is needed to create that inclusive workplace. Specific actions required of any particular organization depends on their unique context. It could mean analyzing recruitment processes and procedures to remove unconscious biases. It could include professional development to strengthen cultural competence throughout the workforce. And most likely, it does mean developing a customized diversity and inclusion strategy that fits the organization’s needs; and includes milestones and measures to make sure they see results.

Despite the many advances of technology, the ongoing success of companies and organizations will continue to be driven by the people that make them up.  It is imperative in this regard to balance short-term needs with longer-term investments. We need to slow down now in order to be able to keep up in the future.

 

Learn more about how TRIEC can support employer’s to build more inclusive workplaces.