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10 Key Messages from nasscom’s FutureWork Meet 2024
10 Key Messages from nasscom’s FutureWork Meet 2024

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Last week I had the opportunity to listen to an eminent set of speakers on my favorite topic “Future of Work” which continues to evolve with new technologies, a multigenerational workforce, and new-age office spaces.

Some learnings from the event that focused on the three pillars of the "Future of Work" –

  1. Future of Work/Jobs
  1. Continuous learning is the new skills
    1. Low productivity growth across most job profiles across industries is a key challenge
    2. Productivity growth is very crucial for economic growth
    3. Technology has always played a pivotal role in improving productivity and continues to do so.
    4. With the ever-evolving technology landscape, continuous learning is the new skill requirement
    5. Thus, demand for new-age tech skills including AI capabilities, and softer skills like social, emotional, and cognitive skills are gaining prominence across job roles and industries
    6. Tech will have to be part of people’s life, either we embrace it or it will be forced on us. The ability to adapt will be vital
    7. Cluster Skilling is important – Where you don’t just learn one skill but a group of skills combination of multiple technical and soft skills for a role

 

  1. Humans with AI capabilities will replace humans without AI capability
    1. Human and AI interaction will play an important role in increasing productivity. As McKinsey highlighted “30% of the current jobs could get automated by 2030, but more jobs will also be created”
    2. Same job role will have different work, which will be more customized and will have more quality interactions than mundane repetitive workflow
    3. AI is a transformation technology not necessarily a disruptive technology, it will automate jobs and free human time for more skilled jobs
    4. Career paths will have to be redrawn as they also continue to evolve and expand beyond the traditional paths

 

  1. Gig/Freelancing will be the key trend to watch out for which is still maturing in india
    1. With challenges and shortage of specific skills across the industry demand across the gig and free lacing roles is expected to see more demand

 

  1. Future of Workforce
  1. Multi-generational workforce working together
    1. Personalization of employee benefits is becoming very important
    2. Leaders/managers need to be cognizant of what are the needs of the different employees/generations, what motivates/inspires them
    3. Today the workforce needs to focus on investing in themselves be it any generation- learning is crucial in an ever-changing skills landscape
    4. Also, the training and learning focus is not only limited to freshers, it is needed for all generations even the retired folks who need to continue working even after 60 to support themselves and they need to realize that self-help is the best help they can ever get

 

  1. For employee retention companies today need to hire for a career and not for a job role
    1. They need to encourage employee mobility as job roles evolve
    2. Encourage experimentation and embrace failures that might come with it
    3. Learning needs to be customized and encouraged

 

  1. Future of Workplace
  1. Workplace is the new place of in-person employee engagement and not just work
    1. Some problems are solved in minutes when people work together
    2. When schools and colleges can not sustain on a virtual model as it limits a student’s ability to learn, how can employees work complete remote when employee learning is becoming crucial for today’s employee

 

  1. Fow/Hybrid working will continue to evolve pushing redesigning of office spaces focused on:
    1. Flexibility - 9 to 5 offices are past, organizations will see office spaces that are flexible not only in terms of office hours but also in terms of layout, which can be repurposed for collaboration as and when needed
    2. Creating an Ecosystem - New age office complexes will see the demarcation of Me Vs We space- Office complexes will evolve into ecosystems with multiple facilities for recreation, wellness, pharmacy, care facilities, social events

The Stakeholders Need to Work Together for a Conducive Ecosystem

  1. Academic Curriculum needs to evolve with the changing requirements of the industry continuously
    1. Learnability needs to be the key focus of the education system
    2. Focus on problem-solving, decision-making, interpreting data, critical thinking and curiosity should be nurtured across all levels of education
    3. Build curriculum in partnership with international universities and industry
    4. Focus on vocational training
    5. Academia needs to mandate internships at all levels, The Industry should make sure they are meaningful and add value

 

  1. Sustainability, social responsibility, and DEI are becoming more and more important across the FoW landscape
    1. Diversity in hiring
    2. Sustainability in the way of working, designing offices
    3. Giving back to society need to be part of the organizational culture
    4. Organizations need to focus on how they bring a sense of purpose in their vision and communicate the same to their employees

 

  1. Learning culture needs to be ingrained across organizations as well as academia
    1. Cluster skilling should be the focus – where an employee learns a group/combination of multiple technical and soft skills for a new role
    2. Mid and senior leadership needs to support learning across levels, and also show learning adoption
    3. The industry should look beyond Tier 1 colleges for talent, to Tier 2/3 colleges and cities

Some detailed insights on the topic in last year’s report “Future of Work Unravelling Intricacies New-Gen Work”. Stay tuned for more insights on the topic as we initiate the charter this year. Drop a comment on the blog if you are interested in participating in this year’s report, both employees and HR professionals are welcome to share their views on the Topic.

Happy Reading!


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Neha Jain
Senior Analyst

Neha Jain

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