By
·
1 minute read
Social and economic forces are forecast to influence over 12 million occupational transitions (change in career paths) through to 2030.
« We’re about to experience a period of workforce supply interruption.
« This will be a result of mass workforce occupational migration.
« Workers pursue personal ambition by taking a leap into new occupations.
« The ‘process’ of maintaining and attracting workers will be a necessary and critical competitive advantage.
« Employee benefits, employee wellbeing, and workplace culture will be the new currency.
« Automation through AI, robotics and general best practice process will be key to success.
What you need to know…
The drivers for these occupational changes generally fall into three categories:
∑ Business automation, including generative AI;
∑ Federal investment into infrastructure and environmental net-zero transition;
∑ Social, economic, and commercial trends; aging, investment in technology, and the growth of e-commerce and remote work.
∆ Workers are motivated, agile and enabled to change career paths, and are less likely to take jobs in traditional lower paid sectors.
∆ AI is expected to play a significant role in replacing manual worked hours by as much as 30%!
The main sector occupational trends;
Resilient and growing occupations:
∑ Health professionals
∑ Health aides, technicians, and wellness
∑ STEM professionals (Science, Technology, Engineering, Mathematics)
∑ Transportation and warehousing
∑ Business and legal professionals
∑ Management
Increase of +17% job growth = +9.9 million workers to support occupational demand.
Loss of 1 million workers due to occupational shifts.
Require 10.9 million workers to support growth in occupational demand!
Stalled but rising occupations:
∑ Creatives and arts management
∑ Property maintenance
∑ Education and workforce training
∑ Builders
∑ Community services
∑ Mechanical installation
∑ Agriculture
Increase of +7% job growth = +2.8 million workers to support occupational demand.
Loss of 1 million workers due to occupational shifts.
Require 3.8 million workers to support growth in occupational demand!
Hit and declining occupations:
∑ Office support
∑ Customer service and sales
∑ Production work
∑ Food services
Decrease of -10% job decline = -6 million workers required to support contraction.
Loss of 10 million workers due to occupational shifts.
Require 4 million workers to support the net loss of the migrating workforce!
Source: McKinsey Global Institute Report: Generative AI and the future of work in America | + Opinion: Brenden Rolston
