9:00 AM - 10:00 AM Innovation Overload – Technology, Jobs and the Future Room: Meeting Room 4 Speaker: David Smith This is not your grandfather’s job market where one could work and retire from one company after 40 years. Your father and your company have probably not fared that well either. The fast pace of technology change and productivity improvements, in an increasingly competitive market, have forced companies to change their strategy, frequently upgrade and improve their products or services, and adjust their workforce. Downsizing, outsourcing, automation, financial pressures, short-term demands, and failed strategy all contribute to the challenges. The pace of technology innovation is increasing so fast that many have a hard time choosing where to focus and how to discover what is new. Most delay action and then miss the window to innovate. The growth of complex systems and a global infrastructure has changed the decision and education process. The ability to adapt to real-time and continuous learning will provide an advantage for professionals of the future. A future focus and focused innovation will drive the next generations of products and services. This talk explores the future of work and how it impacts companies and you.
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Transcript
9:00 AM - 10:00 AM
Innovation Overload – Technology, Jobs and the Future
Room: Meeting Room 4
Speaker: David Smith
This is not your grandfather’s job market where one could work and retire from one company after 40
years. Your father and your company have probably not fared that well either. The fast pace of
technology change and productivity improvements, in an increasingly competitive market, have
forced companies to change their strategy, frequently upgrade and improve their products or
services, and adjust their workforce. Downsizing, outsourcing, automation, financial pressures,
short-term demands, and failed strategy all contribute to the challenges.
The pace of technology innovation is increasing so fast that many have a hard time choosing where
to focus and how to discover what is new. Most delay action and then miss the window to innovate.
The growth of complex systems and a global infrastructure has changed the decision and education
process. The ability to adapt to real-time and continuous learning will provide an advantage for
professionals of the future. A future focus and focused innovation will drive the next generations of
products and services.
This talk explores the future of work and how it impacts companies and you.
David Smith
Technology, Jobs and the Future
Work
“No other technique for the conduct of life attaches the individual so firmly to reality as laying emphasis on work:
For work at least gives one a secure place in a portion of reality, in the human community.”
Sigmund Freud
The product of work contributes to health, well-being and
economic & social stability.
Changes to the Future of Work
Source: Employment Policy Foundation analysis and
projections of Census/BLS and BEA data.
Millions of People
Expected Labor Force and Labor Force Demand
Growing Shortage of U.S. Workers
0
50
100
150
200
250
20
02
20
04
20
06
20
08
20
10
20
12
20
14
20
16
20
18
20
20
20
22
20
24
20
26
20
28
20
30
Labor Needed
Labor Available
Female Labor Force Participation
(as a Percent of the Female Population Age 15+),
1990-2011
Screeching to a Halt:
Growth in the Working-Age Population
Source: Deloitte Research/UN Population Division (http://esa.un.org/unpp/) : Do You Know Where Your Talent Is? Why
Acquisition and Retention Strategies Don’t Work, p.6
-50%
0%
50%
100%
150%
200%
Mexico Brazil India China South Australia Canada US Netherlands Spain France UK Russia Italy Japan Germany
Korea
1970-2010
2010-2050
5% 5%
-9%
18%
48%
15%
-20%
0%
20%
40%
60%
80%
16-24 25-34 35-44 45-54 55-64 65+
Age of Workers
Percent Growth in U.S. Population by Age: 2000-2010
Dramatically Different Patterns of Growth
by Age
1. Declining number of mid-career workers
2. Few younger
workers entering
3. Rapid growth in the over-55 workforce
Source: U.S. Census Bureau
. . . Continuing Into the Future
Age of Workers
Percent Growth in U.S. Workforce by Age: 2000-2020