Understanding the Future of Work

Nov. 14, 2019

Presented by Communitech 
Simon Chan, VP Talent, Academy & Future of Work, MBA ‘01

Communitech was founded with the goal of bringing Waterloo Region to the forefront of innovation. Today, they have helped more than 1400 companies by providing physical space, mentorship, programs and ecosystem building that helps companies grow.  Highlighting the region as the place to be for tech in Canada, supporting startup and growth companies, and 

The future of work and learning is something that no organization, academic institution or government will be able to address alone. With the changing needs of the workforce, the pace of change in technology, and the average years of employment growing, it’s estimated that 54% of employees will need new skills by as soon as 2022.

The trends affecting the changes in the way we work and learn are:

1. Pace of Change
“The pace of change has never been this fast, yet it will never be this slow again.” Justin Trudeau
Individuals can now expect to live through 4-5 paradigm shifts in a lifetime meaning that individuals will need to continuously upskill and reskill. Organizations will need to invest more heavily in retraining employees over time.

2. Demographic shift
There are currently five generations working together in the workforce, and a one-size-fits-all approach doesn’t work to meet the expectations of employees. Flexible work and opportunities to learn and grow are prioritized as part of overall compensation. The emerging workplace values are also more flexible, offering non-linear career progression and an integration between work and life.

3. Shift in Lifespan.
“Each one of us will need to think about who we are and how we construct our life and how this reflects our identity and values.” – Lynda Gratton, “The 100 Year Life”
Most of those entering the workforce can expect to experience fifty to sixty year careers, or they are facing the reality of funding a longer period of retirement. This longer span will require a shift in models built around education, work and retirement and some emerging models show the importance of a multi-stage career with an emphasis on transitions that may offer greater flexibility throughout, and opportunities for self-directed learning.

These trends have implications at all levels. For individuals it will become important to develop human skills such as problem solving, emotional intelligence, communication, with an emphasis on lifelong learning and adaptability. For organizations they may find themselves reflecting internally and becoming more employee centric or finding ways to become a learning organization. And for communities, we expect to see those who come together collaboratively will be the ones who attract the best talent and thrive in this new model.

Learn how Communitech is engaging in issues related to the Future of Work and Learning.