the future of employment 2020

By analyzing and augmenting the data using advanced-analytics libraries and machine learning, companies can detect anomalies, intimate predictive maintenance alerts, overcome new challenges in inspection and maintenance activities, and reengineer the interplay of offshore and onshore teams. Before sharing sensitive information, has been removed, An Article Titled The future of work in oil, gas and chemicals The share of the 16 to 24 year olds in the labor force is expected to decrease during the 2015-60 projections period. 5. These aspects of work are likely to have a significant negative impact on the workforce in these environments. That includes the future of work – with 1.2 billion jobs, or 40% of world employment, heavily reliant on natural processes in 2014 according to the International Labour Organisation (ILO). Read the Spring 2021 issue now. Here are five important takeaways from WEF's "The Future of Jobs Report 2020": The workforce is experiencing a major 'double-disruption' because pandemic-caused lockdowns and layoffs are . Climate change was a major source of concern for respondents. The OECD Employment Outlook 2014 includes chapters on recent labour market developments with a special section on earnings, job quality, youth employment, and forms of employment and employment protection. Climate breakdown is the collapse of long-term patterns in climate due to the dangerous warming of the atmosphere. View in article, Economic Times, “With oil at $35 renewable energy competes with Oil & Gas projects,” March 25, 2020. 10-Year Growth Pct: 33% (much faster than average)†. The number of people projected to be added as a result of net international migration is nearly twice as much as the natural increase. For example, a major transportation and pipeline company in North America recently enabled a “techlab,” where scrum teams of data engineers, data scientists, and technical experts together solved internal and customer problems. Why not? Found insideCreating sustainable work systems: developing social sustainability, 2nd edn. London: Routledge. Dunphy, D. & Griffiths, A. (1998). ... 'Managing tomorrow's people — The future of work to 2020', http://www.pwc.ch/de/dyn_output.html ... In a business-as-usual scenario of oil prices staying at around US$45/bbl, as much as 70% of jobs lost by the industry in the pandemic may not come back by the end of 2021 (see sidebar, “About 70% of jobs lost in 2020 may not come back by end-2021 in a business-as-usual scenario”). The mix of crops grown is also likely to shift as humans reduce their meat intake and move towards a more plant-rich diet. The cost of waiting the downturn out or playing for cyclical upswings in oil prices could be very high for the industry. Automation. Similarly, operating from a 15.6-inch laptop with a less secure 100 Mbps connection at home isn’t easy for geoscientists who are used to analyzing petabytes of data on multiple big screens in a control room. The sensitivity of OG&C employment to changes in crude oil prices has risen significantly since 2014 due to the short-cycled investment and production profile of shales. This graph shows how the industry profile of a circular economy in 2030 would compare with that in 2016: Agriculture currently has a hugely destructive impact on the environment. We've embraced new technologies more rapidly than we could have imagined. In addition, assumptions about immigration to the United States, which has a significant impact on population growth, are added to the assumptions about fertility and mortality. Type: Report. This is largely caused by humanity’s burning of fossil fuels including oil, coal and gas, which releases greenhouse gases such as carbon dioxide and methane. Show Press Release. The Census Bureau’s projection of the U.S. resident population uses assumptions about future fertility and mortality rates. What skills will rise in demand (in Europe in 2030 compared with 2016)? Date issued: 09 March 2020. 2. View in article, Erica Volini et al., A memo to HR: Expand focus and extend influence, Deloitte Insights, May 15, 2020. The most thorough book of its kind, this collection of expert essays provides an abundance of well-thought-out material for understanding the consequences of digitalization for the labour market and industrial relations. already exists in Saved items. While the COVID-19 pandemic has brought a greater urgency in accelerating OG&C companies’ digitization efforts to unlock new operational gains, it has given a new mandate-cum-challenge to put people at the core and prioritize their health and safety. This book provides a clear roadmap for the roles workers and leaders in business, labor, education, and government must play in building a new social contract for all to prosper. Email a customized link that shows your highlighted text. Ecosystems are so closely connected that impacts on one species will affect life across the planet. Our 'Workforce of the future' study looks at four possible Worlds of Work for 2030 to help you kick-start your thinking. Appallingly, these periods come in the way of the industry’s progressive efforts toward sustainability, operational agility, and workforce improvement. Until organizations themselves undergo a fundamental change, including building a cohesion culture where employees have a sense of belonging and pride, their talent-acquisition landscape will not change. In this Spotlight, we look at projected long-term trends in the growth, size, and composition of the labor force. The .gov means it's official. We, however, take a different view. The 2019 World Development Report will study how the nature of work is changing as a result of advances in technology today. Technological progress disrupts existing systems. On the way to transforming the organization, the leaders will have to constantly probe their plans and course correct to deliver added value. Considering high fixed technology (hardware including data centers and software licensing) and personnel (about 15–20% of total personnel expense) costs associated with support functions, significant opportunity lies before companies to make these fixed costs highly variable through outsourcing intelligent process automation, and cloud-based technology solutions. The 2020 edition of the OECD Employment Outlook focuses on worker security and the COVID-19 crisis. According to the Census Bureau’s projections of the resident population, over the 2014 to 2060 period, 98.1 million people will be added to the U.S. resident population. In Automation and the Future of Work, Aaron Benanav uncovers the structural economic trends that will shape our working lives far into the future. Some employees fear that automation will lead to mass unemployment in the future, requiring new policies in the workplace, such as a universal basic income to improve employment and well-being. With its breadth of experience working across the value chain, Deloitte’s Oil, Gas & Chemicals (OG&C) practice offers rich insights and services to help its clients evolve their businesses with technology transformations, workforce reorganization, supply chain remodeling, M&A, globalization, the energy transition, and more. The report indicates that the number of jobs gone will be exceeded by the amount of future jobs created; however, in contrast to previous years . View in article, Total, “Total’s initiatives to promote CCUS,” January 21, 2020. The digital skills gap is asking for the development of a growth mindset! Explore flexible and scalable resource models: OG&C largely follows a permanent “on-balance sheet” workforce model, which it scales up or down by incurring significant hiring, training, overhead, and separation costs. The imperative for those leaders now is to evaluate the impact each HR trend will have on their organization's operations . Advanced digital solutions including data analytics, cloud computing, robotics, automation, predictive maintenance, and machine learning have played a key role in bringing higher efficiency and productivity to the traditionally complex operations of the industry. Some are going extinct while others are simply becoming more scarce. Digitalisation and globalisation have sparked radical shifts in how we live and work. We expect these trends to continue into the next decade. View in article, Rick Mullin, “It’s back: Chemical e-commerce tries for an act 2,” Chemical & Engineering News, March 25, 2020. The ultimate expectation is to move from a traditional oil, gas, chemical business model to a solution-driven, customer-centric energy company. This is hampering their expansion of secondary processing units and the retail portfolio and making them highly vulnerable to large upcoming capacity in the Middle East and Asia-Pacific. National Oilwell Varco, for example, is using augmented reality to connect their in-field technicians wearing smart headsets with offsite experts via video/audio streaming, allowing the latter to view events as they are happening and address them in real time in today’s remote-working environment.29. Although there are indeed existing 3. useful frameworks for examining the impact of computers on the occupational employment composition, they seem inadequate in explaining the impact of The product of five years of research and hundreds of interviews across every level of the industry, The Secret Life of Groceries delivers powerful social commentary on the inherently American quest for more and the social costs therein. Tell your teacher or careers advisor about Success at School. The industry needs to initiate change right from a prehiring stage as its employment cyclicity and rising environmental concerns may be deterring millennials. View in article, Susan Caminiti, “Royal Dutch Shell reskills workers in artificial intelligence as part of huge energy transition,” CNBC, April 3, 2020. Noemie specializes in multi-functional, global service strategy and operating model design programs which drive large-scale cost reduction, process efficiency and effectiveness improvements. Please see www.deloitte.com/about to learn more about our global network of member firms. During 2014–2019, the sensitivity of OG&C employment to oil prices was at its highest, especially in upstream and oilfield services (OFS) sectors (see sidebar, “About 70% of jobs lost in 2020 may not come back by the end of 2021 in a business-as-usual scenario”). The employment situation took a turn for the worse due to COVID-led slowdown of the economy and the resulting oil price crash, leading to the fastest layoffs in the industry—about 107,000 workers were laid off between March and August 2020, apart from widespread furloughs and pay cuts.4 Even the relatively stable sectors, such as refining and chemicals, reported up to 35,000 layoffs combined.5 Such large-scale layoffs, coupled with the heightening cyclicality in employment, are challenging the industry’s reputation as a reliable employer. The wave of production shut-ins and rising bankruptcies of shale operators is prompting producers to exit pipeline contracts and avoid minimum volumetric commitments, leaving a large debt-funded asset base of midstream companies underutilized. Home   >   The transition to renewable energy creates huge potential for jobs growth all over the world. It aims to shed light on the pandemic-related disruptions in 2020, contextualized within a longer history of economic cycles and the expected outlook for technology adoption, jobs and skills in the next five years. The latest Global Employment Trends for Youth 2020: Technology and the future of jobs (GET Youth 2020) shows that, since the previous GET Youth report in 2017, an upward trend in NEET status has emerged. The CEO/chairman should bring this vision to the board and ask each member of the executive committee to align their businesses to the new vision and, most importantly, to live the new purpose (figure 11). According to these calculations, current trends could lead to a net employment impact of more than 5.1 million jobs lost to disruptive labour market changes over the period 2015-2020, with a total loss of 7.1 million jobs—two thirds of which are concentrated in the Office and Administrative job family—and a total gain of 2 million jobs . Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business, Transforming when, where, and how we work. Our 'Workforce of the future' study looks at four possible Worlds of Work for 2030 to help you kick-start your thinking. RB To avoid, or at least delay, career stagnation among employees, companies should develop the existing workforce. Recent debates about the future of jobs have mainly focused on whether or not they are at risk of automation. The Future of Jobs Report's research framework has been shaped and developed in collaboration with the Global . [+] faster as we move into 2020. In 2022, the share of natural increase and immigration in projections of the resident population will be equal and at 50 percent. View in article, Duane Dickson, Kate Hardin, and Anshu Mittal, The great compression: Implications of COVID-19 for the US shale industry, Deloitte, June 22, 2020. At the same time, respondents said they were keen receive training, education and skills development from their employers to help them work from home more effectively. This landmark volume brings together leading scholars in the field to investigate recent conceptual shifts, research findings and policy debates on the informal economy as well as future challenges and directions for research and policy. The civilian noninstitutional population is projected to grow from 251 million in 2015 to 326 million in 2060, an increase of 75 million people. Job Growth: There were 876,300 management analysts in the U.S. in 2019, according to the OOH. The root cause of the talent challenge is still the “work” and many OG&C companies are yet to make the “workforce” a core business issue. First 500 people get 2 months of Skillshare . Finally, we have highlighted jobs with a social purpose as this is also likely to appeal to many younger workers. Overall this will lead to 0.5 million new jobs in Europe, and increase the share of jobs taken up by women. Work: COVID-19 is challenging the way work is done in the industry, including tracking of new manufacturing tasks and regulations (such as Occupational Safety and Health Administration recordables, bloodborne pathogen training, and new personal protective equipment requirements) and moving of roles, schedules, inspections, and practices from human-operated fields to digitally powered remote operations centers. Job Growth: 3.9%, or 12,400 new jobs by 2029. Tom Bonny is a leader of Deloitte’s North America Digital Upstream and Operations practice in Deloitte Consulting LLP. The Future of Creative Work provides a unique overview of the changing nature of creative work, examining how digital developments and the rise of intangible capital are causing an upheaval in the social institutions of work. Finding the Jobs of the Future. © 2021. An alternative to fossil fuels is renewable energy such as wind and solar power. The ILO estimates that decarbonisation could lead to the net creation of 18 million jobs globally (made up of 24 million jobs created and 6 million lost). The increasing adoption of automation, artificial intelligence (AI), and other technologies suggests that the role of humans in the economy will shrink drastically, wiping out millions of jobs in the process. View in article, Deloitte analysis based on data accessed from Burning Glass database. Can this happen? The authors would also like to thank Brad Denny and Carlos Larracilla from Deloitte Consulting LLP and Patti Wilkie from Deloitte Tax LLP for their comments and suggestions; Katie Pavlovsky and Anthony Campanelli from Deloitte FAS LLP, and Mike Kosonog and Howard Friedman from Deloitte & Touche LLP for their inputs and suggestions; Kavita Saini from the Deloitte Insights team who supported the report’s editing and publication; Krystal McMiller and Sharene Williams from Deloitte Services LLP for their operational and marketing support. How are the work, workforce, and workplace undergoing a change in the industry? It aims to shed light on the pandemic-related disruptions in 2020, contextualised within a longer history of economic cycles and the expected outlook for technology adoption, jobs and skills in the next five years. During this period, any changes projected in the labor force are mainly the result of compositional changes of the population. McKinsey, Covid-19 in the United Kingdom: Assessing jobs at risk and the impact on people and places (McKinsey 1), McKinsey, The future of work in Europe: Automation, workforce transitions, and the shifting geography of employment (McKinsey 2), McKinsey, Skill shift: Automation and the future of the workforce (McKinsey 3), International Labour Organisation, The future of work in a changing natural environment: Climate change, degradation and sustainability (ILO), How every sector of the UK economy was hit by coronavirus - but experts say the worst is over, Images: Lead image background by evening_tao. View in article, IEA, The oil and gas industry in energy transitions. The world of work is changing. The upcoming retirement of the baby boomers, a group that has a large share of white non-Hispanic men, will further lower that group’s share of the total labor force. The 2019 edition of the OECD Employment Outlook presents new evidence on changes in job stability, underemployment and the share of well-paid jobs, and discusses the policy implications of these changes with respect to how technology, ... View in article, Morgan Stanley, “Sustainable signals,” 2019. The UK already has the largest offshore wind capability of any country in the world and there is huge potential to expand into onshore wind. At the end of 2019, 74% of UK CEOs revealed that their response to climate change could improve their business’ reputation. Labor lawyer Paul Weiler examines the social and economic changes that have profoundly altered the legal framework of the employment relationship. A right mix of the professional, technical, and IT skills and capabilities can re-equip the workforce of today to do the work of tomorrow. Although attracting new talent may not be an immediate priority—and understandably so given the slowdown in production and the pressure to reduce costs—retaining top employees and tackling the challenge of an aging workforce (median age of above 44 years) are of utmost concern for the industry.6 Existing OG&C employees having fungible digital skills are at the risk of migrating to other industries (e.g., technology and consulting firms, digital solution providers, etc.) The coronavirus (COVID-19) crisis has accelerated these beyond anything we could have imagined. An analysis of yearly job postings by OG&C companies reveals that less than 1% OG&C employers offered a flexible workplace arrangement before the pandemic.15 So how does reality conform to the expectation? Take a look at this video from US news outlet CNBC to learn more about the Fourth Industrial Revolution: The impact on jobs will be that some skills will become redundant as they are taken over by machines, while demand for others rises.

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