Written by May Huffer
I recently came across some interesting statistics from the 2050 Project about what the future of work is going to look like in terms of Age Wave, job automation and the impact of automation on the generations to come. The core focus of the 2050 Project is to understand the impact of these workforce changes and prepare organizations for success with the changing workforce, in terms of technology and different generations in the workforce.
According to Shannon Gaydos, Global Strategist, Writer, Disrupt HR Speaker and leader of the 2050 Project, we are “on the cusp of unprecedented economic and demographic change.”
The 2050 Project outlined some of the most significant forecasted changes, such as:
- By 2025, 75% of the workforce will be comprised of Millennials and Gen Z and the working age population will equal the retired population for the first time in history (McKinsey Global Growth Model)
- By 2035, one in five people worldwide will be 65 or older (Digital BCG)
- By 2050, nearly half of US jobs may be automated (Digital BCG)
It is no surprise that, as someone working in the world of HR technology, I found this research, and the resulting implications fascinating. I began thinking about the increasing need for organizations to truly evaluate their technology readiness to respond to these workforce changes. Are most businesses today utilizing HR technology that will work for the workforce of tomorrow? Are younger generations, who are increasingly stepping into leadership roles, equipped with the tools and resources needed to lead organizations? Are today’s organizations preparing for the impending shift in job automation, with almost half of all jobs in the United States expected to be automated in the future?
Ensuring an organization has the right HR technology stack is key to being prepared for the future of our workforce. Applicant Tracking, Talent Management, and Succession Management systems will be particularly important as these workforce changes take place. Succession management software will allow organizations to plan for senior leaders from Generation X and the Baby Boomer generation retiring. Talent Management systems will help organizations to develop existing talent, in preparation for workforce changes, and a strong Applicant Tracking System paired with a solid recruiting strategy will be important for attracting talent to fill open roles, when existing employees move to fill other roles, or retire from an organization.
HRchitect can help your organization prepare for the future of our workforce, whether you need help creating an HR technology roadmap, evaluating and selecting your Applicant Tracking, Talent Management and Succession Management software, supporting your existing HR technology systems and everything in between.
The landscape of HR technology is ever changing. Keeping up with these changes isn’t your day job, but lucky for you, it’s ours. Let HRchitect help you better prepare for your organization’s future so that your executives and leadership are set up for success now, and for years to come.
May has over 15 years of B2B outside sales experience that ranges from Retail to HCM Management Systems. She joined HRchitect in 2013 as a Regional Sales Manager and leads the sales efforts in the 24 state eastern region of the US as well as eastern Canada. May has worked with clients from mid-market to enterprise scale, who have deployed solutions ranging from Core HR systems to Workforce Management.