In the latest white paper of the Jobs of Tomorrow series, the World Economic Forum, in collaboration with Accenture, presents an examination of the potential impact of large language models (LLMs) on jobs. To measure the impact of LLMs, this paper analyses over 19,000 individual tasks across 867 occupations. It assesses the potential exposure of each task to LLM adoption and classifies them as tasks with high potential for automation, high potential for augmentation, low potential for either, or unaffected. The paper also provides an overview of new roles that are emerging due to the adoption of LLMs.
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Demographics
This research from Gallup and Workhuman emphasises that to assemble and energise the workforce of the future, organisations must prioritise the “human element” of their business, recognising that productivity and efficiency come when employees are engaged, inspired, and connected to their coworkers. The report defines what workplace culture is and examines why a strong culture is vital to the success of every organisation. It highlights recognition as a pivotal tool for building culture and illustrates how a culture boosted by recognition can drive engagement and produce other tangible results.
The CIPD’s latest health and wellbeing survey report provides a wealth of benchmarking data and analysis on key areas including wellbeing, absence, presenteeism and leaveism, work-related stress and mental health. Key findings include employee sickness absence is at the highest level reported for over a decade, with 3.4% of working time lost per year and mental ill health and musculoskeletal injuries being the top causes of both short-term and long-term absence.
This manifesto from the CIPD calls on the UK government to create a long-term workforce strategy centred on skilled, healthy and fair work to drive changes in the ways in which employers recruit, develop and retain their workforces. This workforce strategy underpins a broader and bolder vision for economic growth that can boost productivity across all sectors and raise overall living standards across the country. Priority areas include skills, innovation, business support, digital adoption, green transition, immigration and labour market regulation.
In this report from Edelman, employer trust emerges as a crucial theme in an era of declining trust in institutions. Employers stand as exceptions to this trend. Younger employees influence older colleagues, redefining work meaning and management dynamics. Individuals seek meaning in the workplace and demand that employers match their values with their business practices. Additionally, the report emphasises the importance of action over words, particularly in a diverse, politically charged landscape. It underscores the importance of prioritising deskless employees, urging transparency and personal engagement to build trust, recognising their pivotal role as brand representatives to customers.
McKinsey’s 2023 Global Survey on the current state of AI reveals that less than a year after generative AI (gen AI) tools debuted, one-third of respondents say their organisations are using gen AI regularly in at least one business function. The research suggests that the expected business disruption from gen AI is significant, with respondents anticipating workforce cuts in certain areas and large reskilling efforts to address shifting talent needs.
This report from McKinsey predicts that, along with other advances in automation, 30% of hours worked today could be automated and an additional 12 million occupation transitions may be needed by 2030 – with job displacement disproportionately impacting lower-wage jobs and women. As people leave shrinking occupations, the economy could reweight toward higher-wage jobs. The research highlights that employers will need to hire for skills and competencies rather than credentials, recruit from overlooked populations (such as rural workers and people with disabilities) and deliver training that keeps pace with their evolving needs.
This roundtable discussion explored the trends driving increased flexibility in the workplace and considered a variety of different approaches to flexible working, with a spotlight on the four-day week.
PwC’s 2023 Golden Age Index explores the labour market impact of workers aged over 55 in OECD countries, revealing that the UK lags behind other advanced economies in the participation rate of older workers, with the number of older inactive workers increasing by 244,000 since the pandemic – greater than the population of cities the size of Portsmouth. While the employment rates of the majority of the UK population have recovered since the pandemic, workers over 55 years old have not experienced a post-pandemic recovery. The report highlights that getting the UK’s over-55’s back into the workforce is a key step to lowering the UK’s rising inactivity levels and reintegrating some of its most experienced workers back into work.
This report from the World Economic Forum, in collaboration with Mercer, explores the concept of longevity literacy and offers solutions for stakeholders to address its critical elements – quality of life, purpose and financial resilience.