How will global trends affect Boston jobs?

Posted on March 30, 2017

Several trends may affect Boston jobs in the future, according to a report from Boston Consulting Group.

The report, Twelve Forces That Will Radically Change How Organizations Work, is the first in a series on the New New Way of Working.

As part of the analysis, the author team looked at 60 major trends, grouping them into 12 primary forces that affect both the demand for and the supply of talent.

These forces will require leaders to rethink even basic assumptions about their workforce. “The way we work a decade from now will be almost unrecognizable to today’s business leaders,” says Rainer Strack, a senior partner at BCG and a coauthor of the report.

The following are among the report’s most surprising findings:

• Automation will rapidly replace both blue-collar and white-collar employees. Robots once cost upwards of $500,000 and were limited in what they could do. Today, basic models cost only $22,000 and are flexible and trainable.
• Aging populations will lead to a labor deficit in most of the world’s 15 largest economies, which make up 70% of global GDP.
• Diversity and inclusion, often seen as “nice to have,” will become a necessity. As the value of a diverse workforce increases, organizations are already turning to technology to help avoid bias in recruiting and hiring.

“For example, leaders will need to function with more fluid boundaries between what is inside and outside the company,” says Vikram Bhalla, a senior partner at BCG and one of the coauthors of the report. “Rigid distinctions between employees, outside suppliers, and customers will dissolve, and companies will instead focus on fostering collaboration among these groups.”