Disruption is the ‘new normal’ as the fourth industrial revolution gets well underway and organizations begin to adapt to this unprecedented acceleration in the rate of change. As organizations rethink business models, they are beginning to recognize the power of technology to shape the future of everything, starting with how work gets done. However as companies start to use emerging technologies to augment human effort, they would need an even deeper understanding of how the workforce itself is changing. Rising life expectancies with improved healthcare and declining birth rates across the globe have meant that working-age populations are shrinking in many major economies. The working population will shrink by 5% in China alone between 2015 and 2030, while the population over the age of 65 will increase by over 15%, according to the United Nations. On the other hand, advances in technology have meant that the world faces a severe ‘skills’ crisis’ wherein we do not have enough people with the ‘digital skills’ needed by businesses today. These fundamental shifts have significant implications on how we attract, motivate, rewards and retain our workforce especially in the emerging economies.
The perspectives presented in this collection have been selected to highlight some of the ways organizations in emerging markets, particularly in Asia can navigate these shifts and prepare for the future of work.
All articles first appeared on BRINK Asia, the digital news service of the Marsh & McLennan Companies’ Asia Pacific Risk Center. BRINK Asia gathers timely perspectives from experts on risks and resilience in Asia to inform business and policy decisions on critical challenges.