The workplace is ever-changing. Employers are demanding increasing flexibility, adaptability, short-term contracts, and project-based work, while workers are increasingly demanding job security, higher wages, and better work conditions.
The workplace is ever-changing. Employers are demanding increasing flexibility, adaptability, short-term contracts, and project-based work, while workers are increasingly demanding job security, higher wages, and better work conditions. Unfortunately, this gap will only increase over time in the future.
In response to a very competitive business environment, employers are constantly restructuring and practicing just-in-time hiring and contracting. They are increasing their use of short-term skilled workers or contractors as and when the need arises without the headaches of fixed overheads and permanent workforce. The use of temporary workers and automation will continue to put downward pressure on salaries and wages. Automation will constantly transform or eliminate jobs and careers. Tasks within the jobs and skills needed to perform jobs. Many people will have to shift to higher-skilled jobs away from the manual or physical work as they are replaced by robots. But there will not be much salary growth as under-employed workers will be forced to take on shorter-term or lower-paying jobs just to pay their bills and survive.
The social impact of under-employed over-qualified graduates will be increasing if nothing drastic is done to minimize and manage these challenges. For over-qualified graduates, they can remain under-employed for a very long time. The half-life of knowledge is also decreasing. Technology is generating significant amounts of data where now jobs like data scientist have emerged.
It is more instructive to examine which jobs rely on skill sets that machines are unable to replicate because it is these jobs that will be most resilient and future-proof in terms of their requirement for uniquely human labor.
The youth employment challenge cannot be fully understood or resolved without creating meaningful and accessible spaces for young people to engage in decision making and policy development or hold those, who make decisions on their behalf, accountable.