Economic Insider’s Post

Joined my wonderful colleague, Marina Torres-Martins, at the Greater Vancouver Board of Trade's event – Work Disrupted: Building a Reinvention-Ready Workforce. The presentation and panel discussion explored what employers and organizations need to do to ensure their workforce is ready for the future. Key takeaways included: – Globally, Canada is behind in AI adoption and education and we are going to lose people if we don't catch up. – Employees are looking for work-life integration (versus balance) and flexible work hours, along with real connections. – We need to be curious rather than resistant to AI. – When it comes to employees' trust in employers, it's important to remember that behind trust is the very human emotion of fear. We must connect with employees from a human point of view. Great insights were also shared from PwC's Global Workforce Hopes & Fears Survey.

We surveyed thousands of UK professionals to find out how workers really feel about salaries, company culture, and AI – and why employers are facing an Expectation Gap as a result. Find out more in our 2024 Talent Trends study: https://lnkd.in/dVAFbePb #TalentTrends #TheExpectationGap

We surveyed thousands of UK professionals to find out how workers really feel about salaries, company culture, and AI – and why employers are facing an Expectation Gap as a result. Find out more in our 2024 Talent Trends study: https://lnkd.in/d-VuDVmH #TalentTrends #TheExpectationGap

We surveyed thousands of UK professionals to find out how workers really feel about salaries, company culture, and AI – and why employers are facing an Expectation Gap as a result. Find out more in our 2024 Talent Trends study: https://lnkd.in/eNSa4RJT #TalentTrends #TheExpectationGap

As this McKinsey report details, labour markets are the tightest in two decades. Fully agree with their recommendations - companies can thrive even in challenging labour markets by: 🌐 embracing flexible work arrangements 🌍 tapping into unconventional talent pools, and  🚀 fostering internal mobility Our platform at Remote empowers businesses to connect with diverse talent across the globe, breaking down geographical barriers and driving success. Come and find out how to build a thriving distributed workforce! #GlobalWorkforce #RemoteWork #TalentAcquisition #HRTech #FutureOfWork

The workforce is on the verge of a technology-driven productivity explosion. Leaders in business and policy are being pushed to respond to the high-speed innovation and impending global workforce transformation. The direction they choose could lead to job displacement, or a better option, the creation of good jobs that raise living standards. Currently, the most important step we can take is to train workers in valuable skills. Only through workforce development can the global economy meet current needs and future changes. The economy grows in the long run when there are more workers, and when those workers become more productive. Good jobs provide the skills training and advancement opportunities necessary to achieve these goals and create a strong, vibrant global economy. If we want an inclusive, resilient and just society, we need to create decent jobs for all. Decent work ensures that we can work and live with dignity, earn enough money to not live in poverty, have rights at work, and have a voice at work. This is a prerequisite for society to benefit from the full potential of each individual and ensure that no one is left behind. To achieve this goal, a whole-of-society approach is needed that is based on strong social dialogue to develop a comprehensive employment policy framework that not only ensures the creation of sufficient jobs but also decent work. This inclusive and comprehensive framework needs to consider each policy area through the lens of decent employment. And we should not assume that the actions taken will automatically trickle down to the groups most in need, but we need to ensure that this happens through targeted interventions. The most dynamic economies excel at matching labor supply to labor demand. But, this match is less than optimal in the health sector. The population is aging, which means the workforce is also aging, and thus, creating an increasing demand for healthcare workers worldwide. There is a real need for skilled healthcare workers, and the skills are likely to be the least impacted by the coming automation due to artificial intelligence (AI). Laying the foundation to ensure the workforce has the skills needed to keep us healthy in the future should be a top concern for policymakers around the globe. The creation of good quality jobs is critical to maintaining democracy and increasing inclusiveness while ensuring the transition to a digital and carbon neutral economy. The main drivers for the creation of quality jobs are social partnerships and investment. Social partnership is where the government actively supports and enables constructive dialogue with and between, employers and trade unions, including collective bargaining at national, sectoral, company, and workplace levels. On the other hand, the role of investment cannot be underestimated i.e. the need for more public investment in education, health, social protection, and infrastructure funded through fair and adequate budget is very essential.

A loosening labor market has recently relieved some pressure for managers around hiring, retention, and compensation. But how long will it last? Research released this week by the McKinsey Global Institute suggests the current dynamic—where workers are easier to hire, pressure to raise wages has decreased, and employees aren’t job-hopping—is more of a blip than a long-term trend. McKinsey's analysis is based on the long-term demographic trends linked to lower birth rates and immigration in the US. But it runs counter to concerns that artificial intelligence will destroy swathes of jobs, creating an opposite scenario of large surpluses of human labor. I spoke with McKinsey & Company’s Anu Madgavkar about how she and her fellow researchers came to this conclusion, how AI-driven automation factored into it, and what businesses can be doing now to prepare for the scenario they describe.

We surveyed thousands of professionals to find out how workers really feel about salaries, company culture, and AI—and why employers are facing an Expectation Gap as a result. Find out more in our 2024 Talent Trends report: https://lnkd.in/ebMRReXh #TalentTrends #TheExpectationGap

The US skilled labor market is struggling to balance worker supply and demand. Manufacturing and construction, but also other sectors like healthcare and finance, have experienced substantial departures from the workforce with fewer new trainees or graduates to replace them. Our latest analysis reveals 3 ways technology can help tackle these workforce challenges and enhance productivity. Learn more: https://lnkd.in/ewrBEps2 #Talent #EmployeeExperience #FutureofWork #GenerativeAI

In 2023, U.S. labor productivity saw a remarkable increase, with economic output rising significantly more than hours worked. Companies are becoming more efficient in a tight job market. At Insperity, we help SMBs optimize HR strategies that drive productivity. Check out one of our resources here: https://lnkd.in/gEA_RKJF. #Productivity #Success #EmployeeEngagement https://lnkd.in/gP66fKhV