Research for a recent report by CBRE and Genesis has led experts to believe that almost half of existing occupations will be redundant by 2025 as technological advancements transform the workings of businesses.
The report, Fast Forward 2030: The Future of Work and the Workplace, is based on research conducted with experts, business leaders and young people based in Asia Pacific, Europe and North America.
A shift in workplace operations is predicted to occur within the next ten to fifteen years.
“Experts predict that 50% of occupations today will no longer exist by 2025 as people take up more creative professions,” said Martin Chen, chief operating officer of Genesis.
According to the report, growth in new jobs could occur equally between corporate and freelance professionals.
A report managed by US-based Pew Research in 2014 found that 52% of experts in artificial intelligence were optimistic about the job base of the future, however.
“Technology has always forced people out of jobs and created the opportunity for new roles that we haven’t yet imagined,” said Jon Windust, CEO at Cognology. “What we’re seeing today is not that different to what happened with the steam engine in the time of the industrial revolution. But there is one big difference, and that’s the rate of change – workers already need to reskill multiple times over their career, and this trend is accelerating.”
Windust added that many top employers are increasing the frequency of their performance reviews in order to ensure that employees are keeping up with this rate of change and advancement.
“We’ve seen our top performing clients move from a performance conversation once-a-year down to a once-a-month,” he told HRMonline. “That frequency of feedback is directly related to how fast the workforce is changing right now.”
Some HR leaders at the highest levels of corporate Canada are now suggesting the profession’s penultimate success could see them moved outside their organizations and into the role of external consultants. But they won’t be alone, according to a new job-market forecast for 2025.