Evolution of the job market
On the way to thriving opportunities ?
Today, we are experiencing in the developed countries a rare situation in which the job market has kept getting stronger for a decade. We have almost reached a full employment situation, in which we count an unemployment rate around 5%, which is the systemic and inevitable lowest rate because there will always be a certain amount of people in between jobs. Therefore, the challenge in 2020 and for the following years is that after 10 years of uninterrupted growth, history dictates that there is always a following regression. To add to the global concern about the dubious future job situation, it has been estimated that up to 85% of the jobs that will exist in 2030 haven't been invented yet according to LinkedIn. At the beginning of the century for exemple, no one had ever heard of occupations such as influencer, Uber driver, or even mobile app developer. Change’s pace is so fast and unpredictable today that the future workers will probably have to improvise and learn in the field. It also means that the current education of most students will be absolutely irrelevant in a few years, no matter how much the university claims it has a state-of-the-art and competitive program.
Thus, what are the incoming opportunities in the job market in the following years and how to stay competitive ?
A trend revolution
In the 2020 LinkedIn emerging job report, new technologies (led by artificial intelligence and robotics but also global connectivity) and data science are the most dynamic fields, and are starting to spread and get implemented in almost every industry. Maybe because of the covid situation, recruitments have been concentrated on sales and health care. Also, online learning and cybersecurity have developed very fast because of lockdowns and telecommuting. Indeed, remote work became mainstream, although it was considered as a perk for a long time. Today, many consider it as a “priority”, especially millennials at 40%, who simultaneously make up the largest generation in the workforce. They now declare that being able to work from anywhere is a priority when evaluating job opportunities, and many companies (as the GAFA) are already adapting their job offers.
Moreover, one has to take into account that today, people live much longer than before. All of this is due to medical advancements (including an increasing focus on diets and exercise) and the improvement of living conditions nowadays. Of course, this trend will be a threat for the new generation, both because it will have to support a huge health coverage system but also because the elderly will retire later, and therefore occupy positions that the young job seekers need. In addition, if people live longer, they also have more chronic diseases than ever and therefore need more healthcare. This situation will benefit the hospice workers, the physical and behavioral health professionals (since 2015, this job category has grown by 32% new practitioners per year), assisted living home personnel and financial advisors , which will cause a revolution of the kind of job offers.
Also, the last field concerned with a huge expansion this year is the Corporate Social Responsibility (CSR). As the Earth keeps on being polluted, there will be a great need for people with the skills to clean up the environment. There will be a growing need for skilled scientists and engineers, first to find out how to protect our planet, but also to design ways to colonize other planets and build the means to get there and construct a habitable community. But CSR concerns also the Human Resources field : there is a growing concern about employees welfare. It deals with recruitments, dismissals, careers enhancement, development of individual and collective skills and also the management of social relations and conflicts. All these elements are crucials to maintain a nice working environment that will both improve the performances and productivity of the employees but also attract new talents towards a company.
Is job automation really a threat ?
An important discussion topic nowadays that we regularly encounter in political debates is the job automation trend and the future impact on the labor force. Although we have heard a lot about the end of drivers, simply replaced by self driving cars in a (more or less) near future or about cashiers supplanted by self-checkout, the warehouse industry is, in fact, the first threatened : it employs more than 1.2 million people in the US and 188 000 people in the UK. As its global employment rate has increased by 90% since 2000, it affects today a great deal of people worldwide. Indeed, employees are worried as their work usually doesn't allow them to make both ends meet : 50% of the job seekers are already employed in the warehouse industry. All these figures prove that implementing automation among that already fragile field would lead to massive unemployment.
Of course, Amazon is at the center of the debate : as a GAFA, it employs hundreds of thousands of employees in its warehouses around the world it has implemented robots in the production chain since 2014 it currently has over 200 000 machines working within the warehouses and they already have proven their efficiency in the famous speed deliveries to customers it has invested over 1 billion dollars in robots, artificial intelligence and other automation technologies in order to gain in productivity and productivity, which might obviously be a huge job eliminator too machines are more competitive than humans : they make fewer mistakes, are more reliable, don’t strike and, at the end of the day, are cheaper than wages
Contrary to the expectations, no employee was dismissed : the number of job offers has even increased ! And it is no wonder : Amazon needs engineers and technicians more than ever for their robots. Indeed, the job offers simply have changed because the company doesn’t have the same needs from its workers anymore, and it has supplied its staff with trainings for its job conversion towards new tasks. For many employees, the arrival of robots is a relief : it represents the end of tedious and repetitive work, based on Taylor’s method the number of absenteeism and work accidents have been reduced The case of Amazon appears to be very reassuring concerning the job automation trend. Besides, the LinkedIn emerging job report states that the future of the tech industry relies heavily on people skills (which can’t be automated) successfully implementing new technologies.
How to remain competitive in the job market
First, we might state an evidence but in the economic crisis we are facing and the dismissal waves, let’s acknowledge that everyone is currently looking for a job. Therefore, one of the problems is that over 98% of Fortune 500 companies receive on average 250 resumes per posting. The key to bypass the online path is to create your own strategy to get in front of decision makers. being proactive in the search and the application instead of reactive, by developing a self-directed process mind the key-words of your profile in order to gain visibility build a relevant and appealing brand of yourself : this involves of course to control your online image. It is hard to find a balance between transparency and professional dimension. You want recruiters to have a glimpse of your personality, but not too much in order first to keep your privacy but also to intrigue them until discovering more about yourself during an interview. Also, when companies receive so many applications, it is not about choosing someone above the others but about eliminating all the other candidates. Even though recruiters are usually trained to hire, at the end of the day, it all comes down to the human feeling : decisions from the human mind go through the amygdala, which is the center of the emotions in the brain. Usually, hirers make unconscious decisions with their instinct to choose someone, and then find evidence or data in the profile to support their bias while thinking they are being objective.
At the end of the day, abilities such as being creative, polyvalent, or acquiring some knowledge quickly will be valued above everything else, above the education itself. Hybrid profiles will be preferred, as it shows intellectual curiosity and different skills ranges. Being able to solve problems, to discover and process information as quickly as the pace of change is. Therefore, people who are agile and quick to adapt will take the lead. Thus, career switching will probably be inevitable. Also, it is foreseeable that flexibility both on the hours or missions and on the wages will be rewarded : the new trend is for companies to lower their payroll but to propose more perks and non-cash benefits. All this process is part of the gig economy that is developing. Also the globalization phenomenon will limit promotions and seniority within the companies : to relocate jobs will be mainstream in order to be cost-effective.
At ESCadrille Toulouse Junior Conseil, we have been accompanying innovative projects for 42 years and have been evolving at the same pace as the job market to remain competitive and in line with general trends. As we have identified the handling of new technologies as an unavoidable stake in the upcoming professional opportunities, ESCadrille Toulouse Junior Conseil offers its services to start a digital transformation and accompanies you in every step of the way. In order to take advantage of the benefits of the digital revolution, ESCadrille provides you with experts to assist you on your project. Indeed, we work in conjunction with students from the Toulouse Business School, who specialise in the fields of digital transformation at master's level, to enable us to offer you qualified consultants. We therefore offer services that are adapted and perfectly in line with current trends and real customer needs. In this respect, we have the hindsight and analytical capacity to offer you all the keys to success in the digital world. We are a young and dynamic team that is even more able to understand the digital challenges and to accompany you in the best possible way in order to remain competitive on the market.