Christopher J. Dwyer, Author at The Future of Work Exchange

The Future of Work is Now: Top Trends for 2023 (New Research!)

Business Leadership Contingent Workforce General Insights Talent by Christopher J. Dwyer on 02/14/2023

2023 promises to be a year unlike any other. With rampant inflation, economic uncertainty, and a volatile labor market, enterprises must balance agility, flexibility, and dynamic strategies to thrive in these uncertain times. The year ahead will surely challenge enterprises, with the specter of an economic downturn lingering overhead as well as continued uncertainty regarding the volatility of the labor market. However, as businesses have done over the past three years, they will persevere, they will thrive, and, most critically, they will innovate.

In the spirit of looking ahead, Ardent Partners and the Future of Work Exchange developed a brand new research study: The Future of Work Is Now: Top Trends for 2023. Sponsored by Guidant Global, this exciting new research study highlights the key trends of today’s dynamic world of work and their implications on business operations in the year ahead. Click here to download the new report.

We identified seven key trends that will shape the way businesses find, engage, and source talent, manage their extended workforce, and optimize they ways they get work done. Download the new research study today!

Removing Limitations is the True Future of Work

Business Leadership by Christopher J. Dwyer on 02/13/2023

“When a man has put a limit on what he will do, he has put a limit on what he can do.” —Charles M. Schwab

There is something to be said about the personal effects of removing “limitations” on ourselves as people and as professionals. In order for us to truly thrive, we have to leverage rationale that doesn’t limit us in any way. We must be open to new ways of thinking that can change our lives for the better, and this often starts (or should start) with embracing change in all of its forms.

If there’s anything that the business arena learned in the wake of the COVID-19 pandemic, it’s that change is not always a choice. Seemingly overnight, life was halted in ways we could have never imagined. Entire sports seasons were delayed and postponed, businesses were shuttered, and concepts like “lockdowns” and “social distancing” became part of everyday vernacular (as did facial coverings in any type of public setting).

As humans, we adapted, we changed, and we persevered. Although times were frightening and the ambiguity of those days are memories we will unfortunately never forget, many of us saw our fundamental beliefs change in such a way that allowed us to foster better connections with ourselves and each other.

As people, we became more in tune with our emotions, routines, and purpose. As professionals, we now continue to become more aware of our emotions, routines, and…purpose. Sense a pattern? “Purpose” was a fundamental reason why the so-called “Great Resignation” persisted for such a long time. If “work” was such a critical piece of our foundation, then the reevaluation of its place in our lives was amped more than ever so before. Unhappiness, a lack of flexibility, and a lack of true purpose were all limitations that needed to be broken through.

We changed as humans, and thus, we changed as professionals. Through either choice or evolution, we removed limitations on ourselves to optimize our personas.

Enterprises must follow the same approach if they want to thrive in this dynamic new business arena. Archaic thinking threatens the very success of the average organization, be it through a lack of flexibility, failure to adopt new work models, and a general ignorance of innovative technology. Some business leaders are rooted in pre-pandemic thinking, with a belief that now that the emergency phase of the crisis is over, it is time to return to the ways of 2019.

As the Future of Work Exchange once stated months ago: we’re not going back. Not now, not ever.

To think that there is some semblance of years past in 2023 in beyond is, frankly, disengenuous. It speaks to a possible fear of the future, that progression somehow means that business will enter an era of chaos. In some ways, thinking archaically is akin to a level of comfort, a warm and fuzzy feeling that’s synonymous with “easier” times that weren’t founded on uncertainty and change. If we think like it’s 2019, does that mean that the world around us will look, feel, and act like 2019?

Well, no, of course not. 2019 thinking is old thinking, and old thinking is a limitation. And, limitations are essentially barriers to innovation. The workforce is changing. The workplace continues to change. Workers themselves continue to change. Technology is evolving, as is its role and impact on every feature of the modern organization. All of this means that leadership needs to change, as well. We must embrace the transformation around us, be it open talent, blockchain, digital staffing, flexible and empathy-led leadership styles, etc.

There is so much that can be done in today’s dynamic world of work, whether it’s applying artificial intelligence to both tactical and strategic attributes (i.e., scenario-building, predictive analytics, etc.), developing new and exciting work models that promote real workplace flexibility (such as remote work, hybrid workplaces, or even introducing the metaverse to business operations), or revamping the ways the greater business engages and acquires talent (i.e., direct sourcing, omni-channel talent acquisition, etc.). The Future of Work Exchange has often stated that “the transformation of business thinking” is a fundamental component of the Future of Work movement; in essence, the pandemic challenged the ways businesses ran and forced them to reimagine nearly every facet of how they operated.

Although the pandemic was a humanitarian crisis that caused untold loss and disruption, it resulted in an opportunity for businesses to “reset” and rethink the ways they operate and address how work is done. Many attributes of the progressive enterprise were accelerated, enabling a chance to experiment with technology and innovative strategies, as well as push the boundaries of what was possible in regards to the flexible (and agile) workplace and workforce. Many business leaders claimed this opportunity to reimagine what was possible in a corporate setting, but many did not…an all-too-common result of the weight of limitations on leadership’s thinking.

The Future of Work is a movement that is founded on flexibility, innovation, and business transformation. It thrives on new ideas and fresh concepts. Right now is an opportunity for business leaders to remove limitations from their thinking and develop the next-generation workplace (and, of course, workforce) that can take the enterprise into a new dimension.

Corporate Mental Health and the Future of Work

Business Leadership by Christopher J. Dwyer on 02/08/2023

Mental health and wellness have unfortunately long been neglected attributes of the corporate world. However, in a business climate that places the utmost emphasis on talent retention and a focus on becoming “destination of choice” workplaces, this concept is changing quickly. As awareness of the importance of mental wellbeing grows (and employee burnout continues to rage), enterprises are beginning to realize that managing employees’ mental health is not just a moral imperative, but it also benefits the greater business in multiple ways.

The World Health Organization has found that one in four people globally will be affected by mental or neurological disorders at some point in their lives; and, the cost of untreated mental health issues to the global economy is estimated to be in the trillions of dollars. Poor mental health, from a workplace perspective, often results in disengagement, increased absenteeism, a lack of productivity, and more frequent turnover.

The movement towards focusing on corporate mental health and wellness seems to be evolving, though. Ardent Partners and Future of Work Exchange research has discovered that 93% of business leaders are actively prioritizing mental health (and mental health awareness) as part of their 2023 leadership styles, a far cry from years past when this critical issue was near nowhere to be found.

Recognizing the challenges of poor mental health in the workplace, an increasing number of companies are taking steps to address these issues, such as offering mental health resources, such as counseling services and support groups. Other organizations are also promoting wellness initiatives (such as meditation classes on-site yoga, etc.) to help employees manage their stress and anxiety and transform the workplace into a more comfortable place to work.

Workplace culture has become a top conduit for revamping mental health initiatives, as it has become crucial to create a culture that promotes inclusivity and openness. By fostering a workplace environment in which workers feel comfortable discussing their mental health and, consequently, seeking support when they need it, businesses can ensure that their most critical asset (their talent) views the organization and its workplace as place that cares about them as people.

Business leaders can extend this progressive idea of workplace culture by developing and communicating policies that back employees who may be dealing with mental health issues; simply offering paid time off for treatment or providing flexible work arrangements can prove to be a major difference in truly supporting the workforce.

What this all boils down to, of course, is the role of leadership in reimagining workplace culture into an environment that promotes positive mental health. Senior leadership must be committed to these ideals of wellness and model the behaviors that map to supportive policies. The Future of Work has long been founded on the depth of talent, and, if businesses desire to thrive in 2023 and beyond, they must address corporate mental health, view these initiatives as both ways to humanize the workplace and retain talent, and, most importantly, creating a more resilient, productive, and healthy workforce.

The Elements That Will Shape the Skills-Based Organization

Talent Technology and Innovation by Christopher J. Dwyer on 02/06/2023

Here’s a phrase that’ll be mentioned many times throughout 2023: the skills-based organization will be the one that thrives during what could be an uneven and uncertain year ahead. Skills is akin to currency in today’s volatile market in such a way that it seemingly creates a have/have not business society. Those with top-tier skills will flourish, and, those who don’t, well…

The latest United States jobs report was rosy from a certain perspective (adding 517,000 jobs in January alone), one that reflects not only the lowest unemployment figures in nearly 55 years, but also an awkward juxtaposition of the discussions around an economic downturn and the continued fight against inflation.

For all the talk about a blooming-yet-complicated job market, there’s another side to this positive news. Ardent Partners and Future of Work Exchange research finds that 73% of businesses currently face a critical challenge in the months ahead: a lack of candidates with the required skillsets for open positions. This is yet another representation of why the skills-based organization (SBO) is a true opportunity to, essentially, reimagine the ways they think about talent acquisition and the role of talent in getting work done.

The most progressive way of thinking here is to apply agility-led principles to the realm of talent acquisition and talent engagement by 1) harnessing the power of artificial intelligence and machine learning to revamp the candidate-matching process, 2) expanding “known” skills taxonomy in an automated manner to account for innovative and future roles, 3) developing a central, on-demand database of skillsets across talent communities (talent pools, talent networks, current employees, etc.), and, 4) leveraging a multi-dimensional nexus of skillsets and expertise from which to address new and evolving requirements based on the trajectory of the greater organization.

The foundational elements of the skills-based organization revolve around the concepts of rethinking the parallels between talent and work; thus, the very future of the skills-based organization depends on forward-thinking strategies, ideas, and, of course technology. Here are the crucial elements that will shape the SBO in the months ahead:

Digital credentialing will emerge as a powerful disruptor in the skills validation market. Even in the technologically-advanced days in which we live, validating skillsets and expertise is largely a manual game. Talent acquisition execs and hiring managers (as well as other core HR leaders) must review portfolios, speak to references, confirm education and backgrounds, etc. to ensure that a candidate holds the proper skillsets for the role in which it is applying. Digital credentialing platforms remove nearly all of the guesswork and the tactical elements of skills validation and provide a veritable gateway into verified skillsets, strengths, certifications, etc. that candidates can maintain throughout the duration of their career. Solutions like Credly, Sertifier, Accredible, and Certifier are revolutionizing both the candidate-facing and hiring-led aspects of digital credentialing.
Blockchain realizes its potential and becomes a gateway for talent. Across the business spectrum, blockchain has so many potential paths: augmenting data warehousing, tightening legal and financial intelligence, and, yes, reinventing the ways enterprises find and connect with talent. In a hyper-competitive and globalized talent marketplace, the power of blockchain truly shines through; by defragmenting traditional barriers to talent acquisition, blockchain-fueled candidate networks enable hiring managers (and similar leaders) with the ability, in real-time, to view candidate profiles, validate expertise, and confirm career data and portfolios. Candidates own their information, and, subsequently, their career pathways, an important factor in today’s labor market from the worker perspective. The speed in which blockchain presents a match and a connection can dwarf that of traditional hiring. Platforms like the non-profit Velocity Network and innovative solution Braintrust are helping businesses reboot their talent strategies.
AI moves firmly into the talent acquisition arena. Artificial intelligence has become, particularly over the past several years, a formidable means of visualizing workforce data through dynamic analytics. Predictive analytics and scenario-building capabilities within workforce management suites and VMS platforms have changed the way HR, procurement, and talent acquisition leaders access total talent intelligence and supercharge their talent-decision making with that data. However, 2023 is the year of AI in talent acquisition; it is imperative that businesses drive real workforce scalability and boost their skills-oriented approach by leveraging artificial intelligence to better validate candidate profiles, enhance skillset-to-job matching, and improve the overall hiring process. Talent acquisition is entering a new, AI-charged era in part because of the advanced technology that can seamlessly streamline the ways businesses not only engage candidates, but also the ways they catalyze the skills-matching experience. Platforms like Opptly represent this exciting new generation of technology, along with solutions like Phenom, Gem, and Gloat, as well as Magnit and both its ENGAGE Talent tool and total talent intelligence offering. Too, solutions such as Glider.ai (robust skills verification and candidate assessment), Fuel50 (recalibrating workforce intelligence), and HiredScore (next-generation, proactive talent-fueled AI) will also disrupt the concept of AI in talent acquisition.

One other factor that could play a pivotal role in the evolution of the skills-based organization is direct sourcing and its impact on digital recruitment, an arena that is founded on the ability to better match open positions with top-tier skillsets. Today’s direct sourcing platforms are a key cog in developing a skills-oriented approach towards talent acquisition, with solutions such as WorkLLama, whose AI-fueled recruitment tools revolutionize candidate collaboration and boost talent acquisition strategies, and LiveHire, whose end-to-end recruitment and direct sourcing technology facilitates a dynamic and holistic approach towards total talent management,

Remote Work, Flexibility, and Trust

Business Leadership by Christopher J. Dwyer on 01/30/2023

Stop me if you’ve heard this idea before: a grizzled executive decides that remote work was just a fad and it’s time for all workers to return to the office. He or she believes that the pandemic was an anomaly and any changes associated with corporate operations because the crisis was meant to stay within the confines of this short, confusing, and challenging era.

These are the CEOs and executive leaders that made news throughout 2021 and 2022 by saying, collectively, “It’s time to go back (to the office).” These are the leaders, many of whom control very large and household brands, that still believe that most, if not all, necessary collaboration between workers must happen within the physical presence of an office.

It seems that James Gorman, CEO of financial giant Morgan Stanley, fits squarely into this bucket. “They don’t get to choose their compensation, they don’t get to choose their promotion, they don’t get to choose to stay home five days a week,” he said in an interview with Bloomberg while in Davos. “I want them with other employees at least three or four days.”

The Chief People Officer’s Future of Work Impact

Business Leadership Talent by Christopher J. Dwyer on 01/25/2023

The role of the Chief People Officer has undergone a significant evolution in recent years. Once seen as primarily a human resources (HR) role, the Chief People officer is now increasingly viewed as a strategic business leader who plays a critical role in driving organizational success during these challenging times.

The Chief People Officer was once primarily responsible for handling day-to-day and tactical HR tasks, such as hiring, benefits administration, and managing compliance with local and federal labor laws. However, as enterprises continue to become more complex and competitive in a globalized and digital age, the role has expanded to include a much broader range of strategic responsibilities that are directly responsible for the overall success of the modern organization.

Today, the Chief People Officer is a true strategic partner to the CEO and other senior and executive leaders, helping to shape the overall direction of the enterprise and ensure that the organization’s human capital is aligned with its overall business goals and objectives. This includes identifying and developing talent, creating a positive and inclusive culture, and driving employee engagement and retention.

One of the key ways that this role has evolved is by becoming more data-driven. With the rise of Big Data and next-generation analytics, Chief People Officers are now able to gather and analyze large amounts of information on employee behavior, engagement, and performance. This data can be used to make more informed decisions on issues such as recruitment, training, and development.

Another key area of focus for the modern Chief People Officer is diversity, equity and inclusion (DE&I). These leaders are increasingly being called upon to lead efforts to create more inclusive and equitable workplaces, which can include initiatives such as implementing blind hiring practices, providing training on unconscious bias, and creating employee resource advocacy groups.

As the business world continues to evolve, the role of the Chief People Officer will continue to evolve as well, requiring these executives to stay abreast of new trends and best practices in talent management, talent acquisition, technology and innovation, and organizational development.

In conclusion, the role of the Chief People Officer has evolved significantly over the years, from being a pure administrative role to a strategic business leader, now with more focus on data-driven decisions, diversity, equity and inclusion (DE&I), and employee engagement, retention and development. As the business world continues to change and evolve, the role of the CPO will continue to evolve as well, to ensure that organizations have the human capital they need to drive success.

The Future of Work in 2023 dictates that enterprises reimagine how they get work done, especially considering the fundamental transformations happening within the realms of talent, technology, and overall business thinking. The Chief People Officer can be a catalyst for “rebooting” the very notions of work, helping the greater organization foster a dynamic culture of inclusion and flexibility while preparing it for the ongoing transformations happening today

Calling All HR, Talent Acquisition, and Procurement Execs (and Chief People Officers!)

Business Leadership General Insights by Christopher J. Dwyer on 01/24/2023

The Future of Work is here and now. Business leaders aim to optimize the way they engage and source talent, manage their workforce, and ultimately address how work is done. Ardent Partners and the Future of Work Exchange are currently conducting a new research study that will fuel our 2023 research calendar and arm today’s HR, procurement, and talent acquisition executives with Best-in-Class strategies for:

Managing DE&I initiatives and their impact on talent acquisition.
Implementing new and innovative technology, such as artificial intelligence and blockchain.
Addressing progressive leadership transformation, such as conscious leadership and empathy-led management strategies.
Optimizing extended workforce management and contingent workforce management, and;
Leveraging the best capabilities and solutions for recession-proofing the business (and its workforce) in 2023.

Click here to participate in the new research study, which should take about 15 minutes of your time. All survey participants will receive complimentary access to the Future of Work Exchange’s entire 2023 research calendar, including new research studies on total talent management, direct sourcing, DE&I, and more.

The Skills-Based Organization and the Staffing Outlook for 2023

Contingent Workforce Diversity and Inclusion Talent Acquisition by Christopher J. Dwyer on 01/23/2023

There’s no question that the world of staffing has entered yet another period of uncertainty. Besieged by the chaos of the COVID-19 pandemic and then, thankfully, amped by a greater need for workforce flexibility and an increased utilization of contingent workers, the staffing arena faces a watershed year ahead.

Ardent Partners and Future of Work Exchange research has discovered that 82% of businesses leveraged more extended talent in 2022 than 2021, proving that:

The extended workforce’s great bump in utilization wasn’t just an anomaly due to the pandemic’s impact on fluctuating talent needs.
Non-employee talent remains a viable and strategic way to not just augment staff, but truly drive mission-critical endeavors with high-quality, top-tier skillsets and expertise, and;
With direct sourcing, AI-enabled hiring, and digital recruitment paving the way for the Future of Work movement, the realm of extended talent translates into an opportunity for businesses to thrive during even the most challenging of times.

Glider.ai is a Best-in-Class, next-generation artificial intelligence platform that has disrupted the staffing and recruitment technology markets. Glider AI’s unique talent intelligence platform provides its users with fully-automated tools to boost candidate assessment and allow hiring managers (and other talent management executives) to remotely execute deep, skill-based recruitment strategies with a robust layer of strength and rigor.

The solution recently polled over 130 staffing, recruiting, HR, and contingent workforce leaders on their intentions, challenges, and general perspectives on the talent arena.

Takeaway #1: Diversity Is, As It Should Be, A Critical Priority

Nearly 90% of executives in Glider’s research study state that initiatives related diversity, equity, and inclusion (DE&I) are a “medium-to-high” priority entering the new year. Of that figure, over 50% deemed it a high priority, proving an old mantra of the Future of the Work Exchange: a diverse talent community is the deepest talent community, especially as it pertains to the extended workforce.

While established diversity programs previously existed in many enterprises, the events and civil unrest of the past three years have driven many businesses to develop and communicate more purpose-driven goals which are linked to societal, economic, technological, and sustainable shifts. To achieve these goals, a large number of businesses are trying to harness the power of a diverse workforce. Glider’s new research study is a pure reflection of the modern enterprise’s 2023 commitment to DE&I in its hiring efforts for both full-time and temporary staff.

Takeaway #2: High-Tech or Low-Tech, It Doesn’t Matter: The Skills-Based Organization is King

Nearly 70% of businesses in the Glider study stated that high-tech and technical skills are currently a high priority for hiring and recruitment. Even though some of the world’s most massive tech brands, such as Alphabet (Google), Microsoft, Meta (Facebook), Amazon, and Salesforce have executed mass layoffs in recent months (and in the case of Alphabet and Microsoft, literally just over the past two weeks), there is still a incredible need for professionals with high-tech skills.

Why? The answer is simple: we are living in a globalized and digitized world of work, in which digital transformation is an ongoing endeavor in nearly every enterprise, not to mention the overarching digital requirements in operating in a networked economy. Some of the highest-level talent in digital fields can only be found in the ranks of the extended workforce, which translates into the need for the average organization to devote more resources to enhancing contingent workforce management.

Too, the flip side of this equation isn’t even a counterbalance, as nearly 80% of organizations state that non-technical roles are a “medium-to-high” priority for businesses. Combined with the aforementioned high-tech stat and we can come to a direct conclusion: the skills-based organization is king.

In 2023, there will be many discussions around the concept of the skills-based organization. And this doesn’t just mean that businesses prioritize the skillsets they have within their ranks or within their talent pools or talent communities, but rather center the way they work around enterprises skillsets, expertise, and experience. By fractionalizing jobs/projects and segmenting the work from the workers, enterprises can more effectively align what needs to be done with the know-how required to address it.

Takeaway #3: Upskilling Remains a Key Focus for Businesses

The new Glider study found that 83% of enterprises placed a “medium-to-high” priority on upskilling as a means to engage top-tier candidates and retain top talent. This just reinforces the idea of the skills-based organization, as expertise has become the de-facto weapon in a skills-driven, digitized business arena. As enterprises to balance an ongoing pandemic, a looming recession, and an increasingly-globalized (and, of course, more competitive) market, skills become ever-so-critical.

Upcoming Future of Work Exchange research finds that nearly 70% of businesses are actively focused on engaging new and advanced skillsets in anticipation of digital transformation, further reinforcing the need to 1) upskill current workers (both FTEs and contingent) and 2) engage talented professionals that can make an immediate impact. The greater focus on upskilling (which is an entirely different entity than reskilling) is crucial for a variety of reasons, including:

The digital enterprise now requires progressive skillsets that are needed to thrive in an evolving world of work.
Upskilling is a ideal way for business leaders to combat extreme talent shortages by developing highly-skilled workers from within the organization, and;
It prepares enterprises to weather workforce disruptions (due to challenging economic conditions or other market events) and can serve as beneficial attribute of the company brand when developing new talent acquisition strategies.

Download Glider’s new research study and learn more about skills-based organizations and the state of staffing in 2023.

Web 3.0 Is Here to Disrupt the Way We Work

Technology and Innovation by Christopher J. Dwyer on 01/18/2023

The next generation of digital technology is here. Web 3.0 is on the horizon and it’s poised to have a significant Future of Work impact due to its revolutionary nature. Web 3.0 is defined as the integration of blockchain technology, artificial intelligence, machine learning, the Internet of Things (IoT), and augmented reality, with the convergence of these advanced digital solutions presenting an innovative transformation for the modern business.

The advent of Web 3.0 is not just a natural evolution of the internet at scale, but rather a calling for a new era of decentralization, automation, and intelligence exchange.

A crucial impact area of Web 3.0 is workforce decentralization. By integrating blockchain, professionals will have more control over their personal data, profiles, and accolades, and thus, will be able to monetize their skillsets via decentralized platforms linked by blockchain technology. By being more empowered and autonomous, the non-employee workforce will be enabled with more control, as well as new and more opportunities, for freelance, contract, and gig-based work and positions.

This autonomous, digitally-enabled decentralization would, in essence, catalyze a boundaryless and frictionless stream of work opportunities matching with available talent and expertise…a true Future of Work disruptor that would transform the way we think about recruitment, hiring, and talent acquisition.

Another impact of Web 3.0 on the Future of Work is the automation of tactical and repetitive tasks. With the integration of AI, robotics and other automated systems will be able to perform menial and repetitive activity, freeing up human workers to focus on more creative and strategic work, a boon for efficiency and productivity.

The promise of Web 3.0 also revolves around the idea of transformative data exchange, with IoT concepts driving seamless sharing of critical data between enterprise devices, platforms, and systems. In a remote-work-driven business arena, this is a crucial element in enabling workers, no matter where they may be, to drive decision-making by leveraging real-time enterprise data. Too, this quashes much of the concern of the distributed workforce: giving on-demand, enterprise-grade access to data via Web 3.0 technology convergence means that workers will always be robustly interconnected to their peers, colleagues, and leaders no matter the workplace model.

There are some concerns that these technological advancements may negatively impact the global workforce, displacing some jobs and roles (and even creating income disparity). It will be incumbent on enterprises and government entities to invest the time and resources for reskilling and upskilling initiatives that would ensure that workers are prepared for a new digital age with the proper and aligned skillsets to adapt.

The future of the Future of Work is based on many factors (as we detailed yesterday). Web 3.0 and its digital experience will prove to be a major disruptor for the world of work and talent.

The Factors Shaping the Future of the “Future of Work”

Business Leadership by Christopher J. Dwyer on 01/17/2023

The phrase “Future of Work” can be confounding. It’s become an oft-leveraged, relied-upon, and catch-all phrase to describe the ideal future state of how work is addressed and accomplished. Here at the Future of Work Exchange, our definition revolves around the tenets of the talent revolution, the impact of next-generation technology and innovation, and the complete transformation of business leadership and business thinking to evolve alongside the human factors within the contemporary enterprise.

When the Future of Work is discussed, it is imperative to remember that external market pressures and global indicators are what influences the way workers work and the way businesses operate. And, that could not be more apropos than right now in 2023.

The Economic Factor

Call it a “soft recession” or a “light downturn,” but no matter what, there will be some economic challenges ahead for the global marketplace. That in and of itself will impact how businesses optimize their workforce and their workplace; in fact, Ardent Partners and Future of Work Exchange research finds that nearly 75% of enterprises believe that anxiety over recession fears is actively impacting the workplace.

Inflation and global economic uncertainty translates into shaky financial ground for both people and professionals. Cost-of-living factors shape the way workers think about their current roles, while specific industries will face the burden of layoffs and shrinking headcount in the months ahead. With this, a giant question remains: will it mean that “power” shifts back to the employer after two-plus years of historic “Great Resignation” quits?

No matter the outcome, this much is clear: there are dozens of scenarios that could result, including:

Leaders having new leverage to force workers to return to the office.
Great Resignation-era professionals rethinking their choices.
A greater utilization of external talent and contingent labor, and;
Business leaders pumping resources, time, and energy into retaining talent.

That last point is especially critical, as the candidate experience is a foundational element of the Future of Work in 2023, as no matter how many cost-cutting processes are in place to balance a recession, these leaders must still double-down on the workplace, workforce, and culture improvements they implemented over the past two years.

The Education Factor

On the surface, there may not seem to be a link between today’s youth, lasting COVID implications, and the workforce of the future, however, the changes in how regions invest in education has a butterfly-like effect on future skills gaps.

In the past, organizations such as the American Action Forum estimated that there could be nearly $1.2 trillion in lost economic output as a result of gaps and shortfalls in education across the country…and this was before COVID. Quarantines and lockdowns were a necessary measure to combat the spread of the nefarious virus in its first year; the remote learning/school that was forced to happen as a result was devastating for children and adolescents who experienced a dearth of consistent schooling well into 2021.

If over a trillion dollars could be lost in economic measures before this all happened, then losses directly related to COVID (regarding skills gaps) is easily double or triple that number when all is said and done. Early-age learning is a foundational element of how humans progress throughout their lives, and, the bumps experienced during the pandemic will certainly show later this decade (and into the 2030s) when workers are dealing with new challenges and issues in a world yet unknown.

The Future of Work impact here: will 2020 and 2021’s inconsistent schooling result in a global skills shortfall in a future age when new, digital, and advanced expertise is required?

The Environmental Factor

Although recent news that the earth’s ozone layer may recover to its natural state sometime in the 2040s globally, there is still incredible concern over human-led damage to the environment and its impact on climate change.

This has resulted in a renewed focus on “green energy” that is sustaining and healthier for the planet. To achieve this goal and eschew carbon emissions and traditional energy sources, however, there will be a great need for new and advanced skillsets well into the future. According to the International Renewable Energy Agency, 12.7 million people now work in the global renewable energy sector.

In this insightful piece from the World Economic Forum, this number could blossom to over 38 million within the next seven years. An additional 25 million or so jobs created within this evolving sector would mean that innovative positions that require new skillsets would be developed. Considering the exciting developments in the wind power, liquid biofuel, solar photovoltaic, and hydropower industries, this translates into fresh crop of roles that may not even exist today.

New jobs require new talent that can drive new technology. A blend of brand new skillsets will be needed, as well as the best talent that already maintain strong digital and personal skills. As governments around the globe invest more resources into renewable and sustainable energy, it will determine how this global industry opens new possibilities for the Future of Work movement.