New Ways of Working are Emerging, Yet Inequality and the Skills Gap are Widening
MILWAUKEE, Jan. 20, 2016 /PRNewswire/ -- The polarization of the labor market is widening according to ManpowerGroup (NYSE: MAN) in its report published today: Human Age 2.0: Future Forces at Work. A perfect storm of structural and cyclical forces, from shifting demographics to rapid globalization and technological revolutions, coupled with a highly uncertain business environment, is knocking labor markets out of sync. The result? High unemployment alongside unfilled jobs, rising productivity with stagnant wages, and economic recovery with declining upward mobility for many. The skills of the workforce are out of pace with business needs.
Click the link below to download The Human Age 2.0: Future Forces at Work: Human Age 2.0 -The Skills Revolution
"The time is ripe for disruption and new thinking in the labor market," said Jonas Prising, ManpowerGroup Chairman & CEO. "The Human Age 2.0 need not be a battle of human versus robot. New jobs are being created, with many individuals able to take on more fulfilling roles, but they will require the training to do so. The Haves, those with in-demand skills that can become more productive using new tools — in industries like IT or engineering — will continue to see wages increase. The Have Nots, with low or outdated skills, will see wages stand still or decline as that kind of work increasingly gets simplified or automated. Ultimately, the future is bright with opportunities and growth, but continued learning and skills development for human capital is essential."
Klaus Schwab, founder of the World Economic Forum mirrors Prising: "In the future, talent, more than capital, will represent the critical factor of production. This will give rise to a job market increasingly segregated into 'low-skill/low-pay' and 'high-skill/high-pay' segments, which in turn will lead to an increase in social tensions."
This new age of work will require a new playbook, and employers will need agility and talent to succeed. Download the Human Age 2.0: Future Forces at Work report to learn more.
Jonas Prising, Chairman & CEO, will lead ManpowerGroup's delegation to the World Economic Forum's Annual Meeting January 20-23, 2016 in Davos-Klosters, Switzerland. The delegation includes Jeffrey Joerres, Executive Chairman Emeritus; Mara Swan, Executive Vice President, Global Strategy and Talent and Stefano Scabbio, President Mediterranean and Eastern Europe.
Jonas Prising is Trustee of the Gender Parity Global Challenge; Mara Swan is Co-Chair of the Global Agenda Council on Gender Parity; Jeffrey Joerres is Chair of the Future of Jobs Global Agenda Council.
Throughout the week, ManpowerGroup will be leading panel discussions including "The Future of Work in the Fourth Industrial Revolution" and "Progress Towards Parity" with Melinda Gates of the Bill & Melinda Gates Foundation.
About ManpowerGroupManpowerGroup® (NYSE: MAN) is the world's workforce expert, creating innovative workforce solutions for more than 65 years. As workforce experts, we connect more than 600,000 people to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands – Manpower®, Experis®, Right Management ® and ManpowerGroup® Solutions – we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2015, ManpowerGroup was named one of the World's Most Ethical Companies for the fifth consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible: www.manpowergroup.com.
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