In 2024, Expect Transformations in Jobs: Anticipating Shifts, Fades, and Growth in Roles.

The labor market is poised for significant changes driven by new technologies and expanding industries. Discover how company leaders can proactively prepare for these shifts.

The landscape of roles is swiftly evolving, demanding that company leaders stay abreast of changes in 2024. According to Carl Benedikt Frey, a professor at the Oxford Internet Institute, historical shifts in demand and technology have both created and eliminated jobs. Notably, a McKinsey report highlights an unusual level of movement in the labor market, with 8.6 million occupational shifts from 2019 to 2022 and a projected additional 12 million shifts by 2030. Factors such as increasing healthcare demand, digitization, and others contribute to this dynamic environment.

Anticipating the upcoming year, leaders and their teams should be prepared for certain roles becoming redundant due to advancements in technology. The World Economic Forum's Future of Jobs Report predicts a potential decrease of 26 million jobs in areas like bookkeeping and administration by 2027. AI, especially generative AI, is expected to play a significant role, with a Goldman Sachs report suggesting that 300 million jobs could be "exposed to automation."

However, as Frey notes, job transformations don't happen overnight. Employers are encouraged to consider tasks rather than entire jobs, with a McKinsey report estimating that up to 30 percent of hours worked in the U.S. economy could be automated by 2030. This approach involves breaking down jobs into different tasks and determining the impact of AI on each.

Simultaneously, new roles are expected to emerge. The World Economic Forum identifies "AI and machine learning specialists" as the fastest-growing job, while sustainability-related roles gain traction. Changes in company workflows may also lead to the creation of new roles, requiring a focus on acquiring specific skills. Social and emotional skills, in particular, are highlighted as crucial in 2024, as in-person connection becomes a differentiator in an increasingly automated landscape.

In navigating these changes, leaders are advised to develop plans for shifting, upskilling, and reskilling. Despite the anticipated challenges, having a strategy is crucial, given the tight labor market. Companies should assess their workflows, especially in the context of AI, and create plans to transition employees from diminishing tasks to roles that align with the future.

"Empowering Tomorrow, Inspiring Today – Where Your Success is Our Passion! Elevate Your Technology Journey with Gravity Futures

For additional details about our services and how we can assist you, feel free to reach out to us at info@gravityfutures.com

www.gravityfutures.com

Gravity Futures Job Search