Question

In: Economics

How has the workplace changed in the past twenty years and what are the implications of...

How has the workplace changed in the past twenty years and what are the implications of the changes? Where are the trends likely to take us in the next twenty years?

Solutions

Expert Solution

Workplace has changed in the past 20 years.Working remotely was unheard of in the past.This increases efficiency as fixed costs go down and companies save as they do not have to provide for utilities etc. Employees only stay in a company for 5 years and gone are the days when people used to work for 30 years in a company.There are many laws now which protect people from being discriminated on the basis of sex, race,etc.Email has emerged as primary means of communication. but texting, video chats , etc are more commonly used.Customers give their feedback on social media.Peole are available 24/7 on mobile phones and customers can reach them . Due to the digital age , everything is online and there is less paper work. Everything like salaries , benefits are now transparent.Culture is more laid back and fun and people wear casual dresses to work.

The implications of these changes are that they may appear to be unnecessary and a hindrance to development but they increase efficiency and productivity because of the advanced technology . These changes have also helped in improving employee morale which in turn increases output.

In the next 20 years workplace will change completely and will have no resemblance to what it is today.Social developments, digital business,consumer behaviours, new technologies will determine how people work 20 years later. Employees will use Avatars,language softwares,dialect translation to communicate with team members.Tenure and experience of employees will no longer matter and regular upskilling and digital expertise will outweigh tenure and experience.Employees will develop personal traits with the help of artificial intelligence.. Our co- workers will be smart machines .


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