Reports

The 2020 Future of Work Report

How do decision-makers feel about the future of work, and what are they doing to prepare for it?

 

Forces of change

For the first time, there are five generations in the workforce. Unemployment is at a record low. Alternative work arrangements – gig work, freelance, and remote opportunities – are increasingly becoming part of the fabric of companies.

Automation, machine learning, and AI continue to transform how we work, while technology in the workplace has enabled us to work globally by removing physical boundaries. Organizations now compete for talent across borders and industries, especially in a tight labor market.

While jobs will likely change, there’s a place for humans and machines to work side by side in the future of work – and organizations can capitalize on it when they’re ready.

 

Perspectives on the future of work

Ceridian partnered with Hanover Research to discover how industry leaders are addressing various challenges and forces of change in the next decade of work. While Ceridian’s survey indicates that decision-makers believe they’ll face critical challenges and profound changes, it also revealed that organizations may not be directing their focus to high-impact, high-value actions that create long-term success.

Almost three-quarters of decision-makers said they are concerned about the health of their industry in the next two years, and more than 60% anticipate their organization will experience a skills gap in the same time frame.

 

 

Transformation and the future of workplace technology

Technology in the workplace will play a critical role in upskilling and re-skilling people, and in talent recruiting and retention. Our survey results suggest that organizations are beginning to embrace technology in the workplace for greater organizational efficiency, and recognize that human-machine collaboration can lead to smarter and more strategic decision-making. However, despite their seemingly future-focused technology investments, survey respondents still listed rapid technological development as one of the top three challenges they’re facing today.

 

 

Skills are the new currency

Ceridian’s research revealed that overall, with regards to how technology and automation will impact their workforces, respondents believe the size of their workforces will increase (46%). At least half of survey respondents said they expect various work arrangements to increase substantially in the next two years.

 

 

Leveraging the alternative workforce

Ceridian’s research revealed that overall, with regards to how technology and automation will impact their workforces, respondents believe the size of their workforces will increase (46%). At least half of survey respondents said they expect various work arrangements to increase substantially in the next two years.

 

 

Ceridian’s survey results indicate employers may not be looking at the alternative workforce as a strategic source of value to address the skills gap and contribute to company growth in a meaningful way.

 

About the survey

We surveyed 999 director-level and above professionals from the U.S. (71%) and Canada (29%) from companies with more than 1,000 employees. It included professionals across industries, including a focus on retail, finance, manufacturing, and healthcare verticals to better understand key challenges, opportunities, similarities, and differences in these industries.

 

For more insights like these, as well as key takeaways, download the full report now.

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