Several workforce trends are expected to impact the way businesses operated in 2020. Some of these trends include the following:
The rise of the gig economy.
The gig economy is projected to grow in 2020 as more and more people choose to work on a project-by-project basis.
A decrease in the availability of talent.
The United States is expected to experience a talent shortage by 2020, with businesses being forced to hire from outside the country. However, many countries have already begun closing their borders to foreign workers to expand their domestic labor pools and prepare for a more global economy. It will be interesting to see how this affects businesses in 2020.
The impact of automation and AI.
Automation and artificial intelligence are predicted to significantly impact the workforce in 2020. Many jobs traditionally done by human workers are expected to be replaced by robots and AI-powered systems, resulting in a loss of 2.1 million jobs. However, many high-skilled and high-tech industries will benefit from automation and AI, as these technologies enable employees to be more productive.
A rise in career change trajectories.
As the economy becomes more globalized, people are expected to pursue a broader range of careers that are more relevant to the marketplace, which will result in a rise in career change trajectories. The concept of having one job for life is expected to become less common by 2020, as people realize that they must continually adapt and evolve their skillsets to remain competitive.
A continued increase in workers spending on training programs.
Employees are expected to continue spending more on training and development programs in 2020 as they seek to improve their skillsets and stay ahead of the competition. This is good news for businesses, as employees are willing to invest in themselves to better serve the company.
A shift towards team-based work structures.
The rise of technology and the gig economy has led to a decrease in teamwork, detrimental to business growth. In 2020, however, it was expected that businesses would look to team-based work structures to foster collaboration and improve productivity. This could lead to a decrease in stress levels for employees and a decrease in the number of employees who are dissatisfied with their jobs.