The Future of Work & Workplace will be very distinct from what it is today

Employment is an extremely important aspect for each & every country in today’s world economy. Countries rely on Multinationals, Small & Medium Enterprises & retailers to generate employment for their population.

Employment generates Incomes & Incomes are subjected to taxes which indeed are the biggest source of income for any government around the world. Therefore, higher the employment,higher will be the tax revenue.High revenues for the government should ideally result in growth in employment again. Hence, employment,income,taxes, government spending are a part of an inter connected loop which peddles perfectly till the time the flow is continuous.

Types of Work

The modern work culture,alike humans has evolved massively over decades & centuries. Full time,part time, internship & freelance are the different types of employment relevant today.Full time employment is usually considered as the most stable and higher in terms of longevity.Full time employment in an indicator of an enterprise’s need of a resource who’s skills will be needed for the sustenance & growth of the company continuously day after day. Part time employment is less stable compared to full time,as it can be expected but usually part time employment opportunities are contractual in nature are an indicator of an enterprise's need to hire a resource who’s skill is relevant for a certain duration of time for the company’s growth & sustenance. Internships are usually a short duration stint/gig that an enterprise offers to potential full timers. Internships have traditionally been used as a way to bring forth an industry exposure to resources and to help the resources adjust & adapt quickly to industry environment & company culture.Freelance is a ideally a “work when you want & what you want” model . Companies hire freelancers usually to execute specific and short duration tasks,which indeed is very similar to part time employment by definition. Freelancers are completely contractual in nature and are extremely targeted and goal bound.

Now that we have a better understanding of different types of employment prevalent today, its worth having a peek into the future.

So how does the future of employment or work look like? If you are living in today’s world then you are quite aware of growing power of technology in our day to day lives. Smart phones,tablets, desktops, high speed internet etc have become a common thing today. Everything from food to shelter,from employment to holiday,from a life partner to a room partner is available at the press of a button or a click of a mouse. So what is next ?

AI is set to revolutionize the future of work

Artificial Intelligence is one technology everyone is excited about in the world today,whether it be a techie or a non techie. AI has the power to revolutionize how we execute tasks at the pace & efficiency that we have never dreamt off. Automation is right around the corner and whether we want to believe it or not but it is coming towards us at a pace we never analyzed.

But exactly how will AI or ML or any other futuristic technology affect our work. Future workplaces will be different from the one’s we see or work in today. Some companies staff millions of employees which perform repetitive tasks day in -day out. These types of jobs might be typically at the helm of extinction once the large scale implementation of AI begins.

Gigs Economy — The future of work

The future is of work is GIGS . Acc. to investopedia, In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees. A gig economy undermines the traditional economy of full-time workers who rarely change positions and instead focus on a lifetime career.

An economy full of freelancers who will be contracted by companies for certain tasks a company might need for a limited duration.Once, jobs with high amount of repetitiveness become redundant,only jobs with high creativity & deep expertise of a specific domain will be left.

Gigs will be time defined projects with a defined goal & objective for accomplishment. Due to its dynamic nature,gigs will offer time & resources to employees to constantly up-skill themselves and apply & contest for gigs needing in depth knowledge of a certain subject and complex problem solving attitude.

Co working spaces- the future of workplaces

A workplace model that i am extremely hopeful of is the CO-WORKING SPACE model.Currently co working spaces haven't had been able to create the kind of impact that they were once expected to. Largely the biggest drawback of a Co-Working space model has been the lack of company culture and connectivity among co-workers. Once the gigs economy will be widespread, co working spaces will house many of these freelancers,gigs experts & specialists. Projects/Tasks will be solicited by co-working spaces through a market place model depending on the strength and skills of their co-workers and further acceptance or denial of a task/project will be done by co-workers themselves.

Such work & workplace model will provide a greater amount of freedom to employees in the future and will foster a learning and a cooperative environment of growth.

I would request you to leave your feedback regarding this article and your point of view on how the future of work & workplace looks like.