Talent of the Future: What Will the Talent Landscape Look Like in 2025?
Considering our current rate of digital transformation, it’s possible that our world will look very different in 2025. This is no less true when considering how we source talent.
New technologies like artificial intelligence, machine learning, and virtual reality will change the talent landscape irrevocably, and that means that businesses should start preparing for the talent of the future.
From changing skill sets to increased use of technology, let us guide you through what the talent landscape will look like in 2025. If your business needs help recruiting the talent of the future, consider Pareto Law’s Innovate programme, which can help you bridge the skills gap.
A Change in Skillset
As digital transformation changes the workplaces of the future, creating new jobs and making old ones redundant, new skills are going to be required by candidates. There is already a substantial skills gap, and this will only grow as new technology requires significant up-skilling of employees.
Even now, businesses know that their employees will have to adapt to the demands of their job quickly. According to the World Economic Forum’s Future of Jobs report, 94% of business leaders say that they expect their employees to pick up new skills on the job.
By 2025, all businesses should expect their operations to have changed significantly, and this will inevitably require specialised, highly-skilled candidates.
It’s a given that digital transformation will usher in new technology to the workplace over the next few years. However, what many businesses cannot envisage is how much we may come to rely on this new technology. The global market for virtual and augmented reality software is expected to climb to £570 billion by 2025. By comparison, this is approximately the size of the desktop PC market today.
Inevitably, the talent of the future will have to work with technology that, by and large, is not part of our daily lives today.
37% of workers today are worried that automation will put their jobs at risk. Though it’s unlikely that by 2025 entire workplaces will have been replaced with robots, increased automation in the workplace will have a significant impact on the talent of the future.
What is clear is that in the future, we may see artificial intelligence taking over some of the high-level data analysis and other automotive tasks. This level of digital transformation will consequently create a higher demand for candidates who are skilled in unique human traits such as high-level decision making, creativity, and persuasion. It may not be so much a case of jobs becoming redundant, but of new skills becoming more important in the workplace.
According to a report from McKinsey, companies could expect to shift one-third of their workforce into new roles or skill sets by 2030. Digital transformation and the adoption of new technologies will change the shape of the talent market, increasing demand for specialised roles such as doctors and technology specialists. In turn, we may see decreased demand for roles in administration or manual work.
If companies want to navigate this changing work environment, they should be focused on securing the talent of the future now. Candidates who already have an innate capacity for technological roles may see their skills become more in-demand in years to come, while businesses focused on manual tasks may see their operations change radically.
While companies may be experiencing a significant talent shortage now, this is nothing compared to what the market may look like in the future. The current global talent shortage amounts to 40 million workers, and if this continues, by 2030 companies around the world may lose up to £6.2 trillion in revenue because of a lack of talent.
To combat this, the talent of the future will have to be skilled in emerging industries such as technology, while business leaders should be focused on retaining the talent they have, and not risk losing it to the competition.
What’s clear is that in order to survive the inevitable shifting of skills and workforces over the next decade as well as the demands of digital transformation, companies need to connect themselves with the top talent.
Pareto Innovate is our bespoke training and coaching programme that trains candidates to become talented Business Analysts and Project Management. In our rigorous programme, we only work with the most skilled candidates, providing them with the appropriate training and coaching to become the talent of the future.
If your business is looking for skilled and knowledgeable candidates to lead you through this period of digital transformation, reach out to Pareto Law. Together, we can help you lift yourself above the competition with the best talent.