In the greedy 80’s and during the tech boom there was a narrative created around becoming rich and retiring early. That narrative still exists today. The fact is, maths and logic tell us that most of us will need to continue to work.
The Committee for Economic Development of Australia’s (CEDA) report in July 2015 estimates that over half of the future workforce will be self employed and that 40 per cent of Australia’s workforce (5 million people) could be replaced by automation within the next 10 to 20 years. In April 2016, South Australia legalised driverless cars, paving the way for an entire transport industry to be automated.
There has also been an awakening for people and organisations to be more ‘purpose’ led, e.g.; sharedvalue.org.au, Slow School of Business and futureofwork.workplaceleadership.com.au. In Aust-ralia, around 2 million people leave their jobs each year, with 60% of these being voluntary and only 19% through redundancy.
In the future, technical and creative skills will be important. The highest costs for a household will continue to be for essential services such as housing, food, mobility and communication. The future of work will be impacted by greater outsourcing of personal services and the use of technology and robotics.
Future businesses and workers are likely to be highly specialised in tasks not done better overseas, by technology or by robots. Work and life will merge due to the rise of self-employment and flexible work arrangements. And overall, there will be a need to be highly adaptive to change.