Wings of Change Newsletter January 2024

Member Article
ROLE OF WOMEN
IN THE FUTURE
WORLD OF
WORK
‘The illiterate of the 21st century will not be
those who cannot read and write, but those who
cannot learn, unlearn and relearn”
Alvin Toffler
Gayani de Alwis FCILT
Changing world of work
The pandemic brought about significant
changes in the workplace. Unemployment
was on the rise globally
and by 2022, 58% of those employed
were in informal employment. A staggering
two billion workers were doing
precarious jobs and lacked any form
of social protection. Job cuts were
significant due to the economic slowdown
and looming global recession.
Amidst this backdrop, many companies
were shedding jobs. Among
them, the first to announce job cuts
were in tech companies. Alphabet
announced that they would be cutting
12,000 jobs while Microsoft announced
laying off 10,000 jobs. 1 in
10 jobs at Vodafone will be cut in the
next 3 years. BT will cut jobs in the
next decade in view of tech adoption
with Artificial intelligence replacing
front-end customer service jobs. In
the future, frequent disruptions are
likely to be the new normal and our
readiness to adapt to these environments
should be the defining ability
of a business.
Currently, the workforce is scattered
in a globalized labour market with
remote working gaining momentum
with technology adaptation, flexible
working arrangements, and hyper
connectivity among the workforces.
Changing consumer behavior is driving
markets towards an on-demand
economy. With rising urbanization
and aging population in most developed
countries, the world of work is
driving change at a significant pace.
In such an environment, it is important to visualize
how the future world of work is evolving. Work
place dynamics are changing based on who does
the work, how the work is done and when and
where the work is done.
-14- Wings of Change