AI and technology will change careers. Are we even half ready?
“Reinvention” is a service to support executives that want to look towards career change and need help. It is in many ways many the next generation of outplacement and career advice.
A recent report from McKinsey’s supported the case for reinvention and outlined how careers are going to change over the next decade:
- 6 out of 10 occupations will have 30% of their activities managed via technology
- By 2030 the global workforce of 2.66 billion people will include 8-9% in new occupations
- 30% of work hours will be automated by 2030
- Estimated that between 400m and 800m individuals could be displaced by automation and need to find new jobs by 2030
- However, people will need to find their way into these jobs. Of the total displaced, 75m to 375m may need to switch occupational categories and learn new skills
- By 2030 there will be at least 300m more people aged 65 years and older than there were in 2014. As people age, their spending patterns shift, with a pronounced increase in spending on healthcare and other personal services.
- Globally, it is estimated that healthcare and related jobs from aging could grow by 50 million to 85 million by 2030.
There are a number of key points to consider from the above:
- Changing career paths will be commonplace and the need to reinvent will also become commonplace
- It is estimated in other research that there will be 30% less board level positions by 2030. So if 30% of the daily work level can be automated, this suggests that job satisfaction could be under great pressure which may lead to higher levels of depression and unhappiness unless managed.
- The counter is that there will be – with the shifts in the age of the population and work patterns – both great opportunities for healthcare and hospitality as people will have greater leisure time.
So there will be a genuine need for individuals to have support in reinventing their careers and this may replace the outplacement methodology.
Change can be difficult – especially for those that enjoy order and routine. This service is therefore bespoke to the individual as every client will have a different set of needs, aspirations and skills. Our role is to work alongside to find new purpose and new paths in life.
For more on EP contact; Ben.Butler@epmagazine.co.uk