WEBVTT 1 00:00:03.300 --> 00:00:05.270 If you look at the entire discourse 2 00:00:05.270 --> 00:00:06.730 on the future of work 3 00:00:06.730 --> 00:00:08.420 over the last decade, 4 00:00:08.420 --> 00:00:10.883 I personally found it rather dystopian. 5 00:00:12.520 --> 00:00:14.720 I don't think at all that that's the future. 6 00:00:15.941 --> 00:00:18.524 (techno music) 7 00:00:22.260 --> 00:00:25.270 line:15% What we did at the Henderson Institute of BCG 8 00:00:25.270 --> 00:00:28.210 line:15% was really trying to understand where employers 9 00:00:28.210 --> 00:00:29.790 and employees stand today. 10 00:00:29.790 --> 00:00:32.530 And specifically not the privileged, 11 00:00:32.530 --> 00:00:34.060 highly skilled people, 12 00:00:34.060 --> 00:00:36.133 but the majority of the workforce. 13 00:00:37.890 --> 00:00:41.540 We wanted to understand if gig working is a bad 14 00:00:41.540 --> 00:00:43.523 replacement for a full-time job. 15 00:00:45.440 --> 00:00:48.570 We actually found in midscale workers, 16 00:00:48.570 --> 00:00:51.500 you don't see that these are dispirited people 17 00:00:51.500 --> 00:00:53.820 who believe technology is a threat 18 00:00:53.820 --> 00:00:56.130 to their personal work lives. 19 00:00:56.130 --> 00:00:58.150 That part of the workforce, on average, 20 00:00:58.150 --> 00:01:00.060 tended to be happier; 21 00:01:00.060 --> 00:01:01.980 on average, looked towards the future 22 00:01:01.980 --> 00:01:04.853 with even more confidence than their peers. 23 00:01:07.350 --> 00:01:08.870 If you look at industries that have very 24 00:01:08.870 --> 00:01:10.733 high shares of robotics, of automation, 25 00:01:10.733 --> 00:01:13.330 the German car industry, 26 00:01:13.330 --> 00:01:15.355 we haven't seen mass unemployment amongst 27 00:01:15.355 --> 00:01:19.600 automotive manufacturing talent in the past decade. 28 00:01:19.600 --> 00:01:22.280 But we have to be cognizant of the fact that 29 00:01:22.280 --> 00:01:24.763 the skills that large parts of the workforce 30 00:01:24.763 --> 00:01:28.420 have to acquire at much more rapid pace. 31 00:01:28.420 --> 00:01:30.860 What are the skills that our workers, 32 00:01:30.860 --> 00:01:32.150 and employees in general, 33 00:01:32.150 --> 00:01:34.700 will have to acquire to work alongside 34 00:01:34.700 --> 00:01:36.515 and in collaboration with machines. 35 00:01:36.515 --> 00:01:39.384 That, I think, will be the lot trickier question 36 00:01:39.384 --> 00:01:40.397 than just saying, 37 00:01:40.397 --> 00:01:42.387 "Okay, I have a replacement mechanism." 38 00:01:44.280 --> 00:01:46.530 So, what that means for employers, I think, 39 00:01:46.530 --> 00:01:49.990 is a much broader view where you source your talent 40 00:01:49.990 --> 00:01:51.750 and it also means that you have to think about 41 00:01:51.750 --> 00:01:53.930 how you develop and retain and foster 42 00:01:53.930 --> 00:01:56.453 your talent in a very different way. 43 00:01:58.790 --> 00:02:01.460 I believe what companies will have to do is get a lot 44 00:02:01.460 --> 00:02:03.860 more systematic about first 45 00:02:03.860 --> 00:02:07.380 understanding which skills they will need in the future. 46 00:02:07.380 --> 00:02:08.213 Simply, you could say, 47 00:02:08.213 --> 00:02:09.970 you could "foresight function." 48 00:02:09.970 --> 00:02:11.460 Some of those skills of the future, 49 00:02:11.460 --> 00:02:13.750 I can hopefully hire on the open market, 50 00:02:13.750 --> 00:02:16.860 but a lot you will want to develop the talent you're having. 51 00:02:16.860 --> 00:02:21.210 It means CEOs will have to make the talent agenda 52 00:02:21.210 --> 00:02:24.281 a real core of their excom [executive committee] discussions. 53 00:02:24.281 --> 00:02:26.864 (techno music) 54 00:02:28.441 --> 00:02:30.517 Overall, I am very optimistic 55 00:02:33.020 --> 00:02:35.410 because the last decade has shown you that 56 00:02:35.410 --> 00:02:38.950 so many new jobs and professions have emerged, right. 57 00:02:38.950 --> 00:02:40.850 We're asking for so many skills today that 58 00:02:40.850 --> 00:02:43.400 we didn't even know existed a decade ago. 59 00:02:43.400 --> 00:02:45.600 I see no reason why that should be different 60 00:02:45.600 --> 00:02:46.823 in 10 or 20 years.