Future ofjobs SUMMARY ARTICLE it is estimated that over half of UK children starting primary school in September 2020 will, by the time they finish their education, find a job working in a role that does not yet exist. Equally, socioeconomic developments and improvements in technology mean that many occupations which were once high in demand are beginning to disappear. So, what are the catalysts for this change, and what skills should we be equipping the next generation with to deal with this rapidly evolving employment landscape? A recently published report has sought to shed some light on these issues by asking Human Resources Directors (HRDs) for large global organisations to predict what the future of their industries will look like in 10 years and, more specically, which impending changes will have the greatest impact on the future of jobs. Catalysts to change The last decade has seen huge technological advances, and these developments have united previously disjointed occupations. Robotics, genetics, nanotechnology, machine learning, 3D printing and artificial intelligence. which were on the very fringes of science, are now commonplace in manufacturing and business. Alongside these technological advances. socioeconomic and geopolitical shifts are ca using business models to be redesign ed. HRDs highlight one issue in particular that needs to be considered how skills shortages can be addressed internally in a cost- and timeefcient manner. A further factor needing to be considered to understand how the benefits and burdens of these changes will be distributed is the future proportions of men and women in the workplace, currently split 50:50 across the globe as a whole. Changing nature of work Current trends estimate a net global employment impact of more than 8.3 million jobs being disrupted by market changes over the period 20202028. with a total reduction of 4.1 million positions. Nearly three-quarters of these will come from white-collar office functions such as administration and supply management. This report also suggests an increase of 2 million jobs in Science, Technology, Engineering and Maths (STEM) occupations, and an equal fall in the number of positions expected in the Manufacturing and Production industries. However, the authors of the report conclude that employers in these sectors have great opportunity to reenergise, resklll and redeploy their workforce rather than simply repiacing them. Respondents from across practically all industries and geographies noted that data analysts will be required to make sense of the data generated by new technology; specialised sales representatives will be needed to explain businesses' offerings to clients and consumers, and a new type of chief executive will thrive - someone who is able to help steer companies through these unpredictable times. The number of employees employed by the large global organisations represented by the Human Resources Directors (HRDs) who completed the survey, split by industry group Industry group Number of employees Basic & Infrastructure 1,967,000 Consumer 1,275,000 Energy 2,892,000 Information & Communication Technology 3,556,000 Healthcare 971,000 Financial Services & Investors 1,082,000 Others 2,643,000 Industries Overall 14,386,000Bar chart showing what proportion of HRDs completing the survey work in each industry Note: 333 HRDs were invited to complete the survey, one per organisation. 45%% of invitees actually completed the survey. Healthcare Consumer Information & Communication Technology Energy Basic & Infrastructure Financial Services Investors Others 0% 1% 2% 3% 4 5% 6%% 7% 8% 9% 10% 11% 12% 13%% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23%% 24%Geographical location of Head Offices Bar chart showing the location of the Head Office of the organisations whose HRD completed the survey North America Asks European Union Middle East Central America Europe Africa south America The Caribbean Oceania 21% 22%% 0% 1% 2% 3% 4%% 5% 6% 7% 8%% 105 11% 12 13% 14% 15% 16% 17%% 18% 19% 20%Responses to survey questions asking about the most important technological catalysts for change over the next 10 years Note: The chart shows the proportion of respondents selecting each of these $ categories. Biotechnology 30 Printing Automation Robotics Crowdfunding Renewable Energy Big Data Cloud Technology 38% 40%% 42%% 44% 46% 48% 50%% 0% 2% 4% 6%% 8%% 10% 12% 14% 16% 18% 20%% 22%% 24% 26% 28% 30% 32% 34%% 36%Factors impacting industry business models - when will the main impact start to be felt? In the past Now In the next 5 years . Geopolitical unpredictability Renewable energy technology . Advanced robotics . Cloud technology . Internet retailers . Automation of job roles . Advances in Big Data . 3D printing . Biotechnology . Crowdfunding . Ageing societies . Rise in the number of Consumer concerns about middle-class people in Asia ethical and privacy issues . Rise in the number of young Rise in the number of women people in Asia in the workplace . Rapid urbanisation . Changing work environments . Flexible working arrangements . Climate change . Transition to a green economy