Current Trends and Challenges in the World of Work

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“Choose a job you love, and you will never have to work a day in your life” – Confucius.

The world of work is diverse. This massive world of work provides people across the globe, a buffet of opportunities through the means of various jobs, for personal growth as well as social development. This helps individuals get jobs that relate to their skills and talents. Almost all people desire to choose jobs that not only provide them with a high pay but also the ones that can be well executed and promote overall satisfaction. The constantly changing world of work has led to the development of vibrant careers that satisfy different needs. Research indicates three currently emerging global trends from the perspective of new job seekers: growth and learning opportunities, being a part of trusting organization that offers a career path and, having flexibility in their lives (Heerden, n.d.). Apart from jobs with good salary the demand for jobs that are stimulating and challenging has increased as people prefer for personal growth and want to play different roles. Companies need to also engage employees into their business planning so that they are able to fit in the new strategies further increasing their faith in the organization. Employees now also want to have more control over their lives and hence flexible working hours are seen favorable.

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The latest trends show some major changes like leaders being more open to employee interaction, companies initiating upskilling and retraining of current workers, mental health is prioritized and diversity is taken seriously. Research by companies like IBM, Google and Apple have found that interaction between the employees leads to creativity and has positive outcomes like increased work performance and job satisfaction (Schawbel, 2017). The focus of companies has incorporated interaction between the employees of their different departments to facilitate interpersonal relationships at workplace. At times the companies aren’t able to find the right candidates with the required skills and qualification. Hence companies have started programs that help in upskilling the employees and foster skill development to fill in their gaps and achieve full capacities. Since the mental health of the employees directly affects the productivity, there has been an attempt to take well-being of the employees seriously. The human resource departments are taking charge of providing support systems and help to employees who are distressed and have mental health issues or problems in adjustment at work. Companies are also focusing on enhancing the composition of their workforce by considering a diverse working population. To create a more heterogenous working space, the companies are now supporting all diversities based on gender, ethnicity and age.

The entry of women in the workforce has been a major significant change in the world of work in the recent years. From 34% of working women in 1950 to 57% of them in 2016, women’s participation in the workforce has nearly doubled in the U.S. Research findings suggest that since more and more women have begun to join the workforce, they have contributed in towards the cities being more productive. The economic theory indicates two possible consequences of women entering workforce; firstly, if women are joining workforce because of the changing attitudes then it would result in increased labor supply and decreased wages and, secondly if women are joining workforce because of the increasing opportunities then the wages increase due to increase in demand (Weinstein, 2018). However, the statistics of women joining the workforce is much lower in India. In spite of meritorious educational gains, the participation of women in the world of work has just been 28.5% in the year 2017. In addition, the gender pay gap is decreasing as women earn 62% of what their male counterparts earn while doing the same job (Catalyst, 2018). The entry of women in workforce will definitely lead to an increase in the countries’ gross domestic product (GDP) thereby enhancing the global economy. There could be many reasons for the difference in the rates of women joining the workforce like the condition of the country (whether it is developing or developed), societal gender bias, cultural backgrounds and financial stability.

Along with the latest trends that are mostly favorable for the working population, there are upcoming challenges as well that the employees need to learn to deal with.

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Current Trends and Challenges in the World of Work. (2022, December 15). Edubirdie. Retrieved July 15, 2024, from https://edubirdie.com/examples/current-trends-and-challenges-in-the-world-of-work/
“Current Trends and Challenges in the World of Work.” Edubirdie, 15 Dec. 2022, edubirdie.com/examples/current-trends-and-challenges-in-the-world-of-work/
Current Trends and Challenges in the World of Work. [online]. Available at: <https://edubirdie.com/examples/current-trends-and-challenges-in-the-world-of-work/> [Accessed 15 Jul. 2024].
Current Trends and Challenges in the World of Work [Internet]. Edubirdie. 2022 Dec 15 [cited 2024 Jul 15]. Available from: https://edubirdie.com/examples/current-trends-and-challenges-in-the-world-of-work/
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