What is the Future of Work? And Why Should You Care?

Not only has COVID-19 displaced millions of people, but the jobs that emerge from this crisis are likely to be different from those that were lost. People with the lowest incomes and educational attainment have been disproportionately affected, putting a burden on attaining inclusive growth and perhaps jeopardizing their prospects, rising income inequality. Small and midsize businesses are severely affected by COVID-19, also more vulnerable to disruption from increased automation.

However, it is important to keep in mind that more than 80 per cent of workers in the Nigerian economy cannot work remotely. Their jobs require at least some physical presence such as standing on a meat processing line, helping customers in a store, or providing healthcare services. The potential for remote work depends on the nature of tasks conducted; workers in jobs requiring interaction with machinery or in outdoor spaces, for example, are less likely to be able to work remotely than those using computers to do their work.

There will be challenges in managing a workforce that is working partly remotely. Companies will need to reconstruct how work is done, decide which employees and roles are best suited to remote work, and reconfigure and rethink the workplace.

COVID-19 already dramatically changed the way many jobs are done. Employers are now planning how best to extract benefits from those changes as they prepare for business after the pandemic subsides. Greater digitization and automation, more demand for independent contractors, and increased reliance on remote work have the potential to deliver better productivity, lower costs, and enhance resilience. Innovation historically has driven changes beneficial to workers and humanity at large, and new workplace trends hold the promise of greater productivity that will fuel broader well-being. The trick will be to reduce the risk of unequal outcomes, ensuring companies of all sizes can benefit and prepare workers for these shifts.