The Future Shock to The Future
Covid19 has triggered one of the biggest ever transformations of the workforce world-over. What would our jobs look like once the pandemic subsides? Globally, the humanists and positive thinkers are exploring how to get the millions of unemployed back to work. They are re-examining everything - from office layouts to revenue streams to product design to a long-term approach to flexible working to modified communications processes.
For me it is also crucial to examine the impact of the past few months on the trend towards automation and job-loss on employee health and morale.
Australian lobbying firm, and political consultancy C/T group (formerly Crosby/Textor - a social research, corporate strategy and political polling firm created by Mark Textor and Lynton Crosby), with presence in major European markets, had conducted a survey in April 2020 across various world geographies, just a few weeks after India went in to complete lockdown. They found out that worries about retrenchment / job loss / unemployment were the highest in India as 86 per cent of those surveyed feared losing their jobs, or substantially reduced income and livelihood during lockdowns or in post-Covid19 market. In comparison, this fear is only 31 per cent in Britain, 33 per cent in Australia and 41 per cent in the United States; but a high 71 per cent amongst residents of Hong Kong. In India, the worry is more fearsome as we have nil or next-to-nothing social-security protection. The ‘Caring’ fund being the biggest ‘sucker-punch’ – as the American would say, if you get the drift.
The organisations / institutions are faced with short-term liquidity challenges, as also the need to look at costs and profitability. Funds are also needed for investments in new opportunities, including M&A. Faced with plummeting sales and revenues, and increased costs, interventions are needed in key technologies, processes, and people.
With economies across the globe trying to very slowly limp towards being normal, the trend is showing that – experienced older employees, mid-level employees, are more at risk of financial hardship if not job-loss.
What do you think? What should be done about it? #livesmatter .
by- Devasis Chattopadhyay