Adapting to next-generation work dynamics for the modern era

euronews (in English)

In a changing world, companies must adapt to next-gen work dynamics. Existing staff need to adjust and upskill to keep pace with new generations entering the workforce.

Transcript

00:00Work from home, hybrid models, and digital nomads.

00:05Since 2020, the way we work has transformed in many ways.

00:09But now that we've mostly returned to the office, the next era of work is all about

00:14fostering inclusivity, productivity, and empowering everyone involved.

00:22Welcome to The Exchange from our studio here in Doha.

00:25Coming up on this episode, we speak to Geneva-based Pedro Moreno de Fonseca, a specialist at the

00:31International Labour Organization, who shares his insights on changing trends in the workplace.

00:37And Ryan Patel, the board director of the Drucker School of Management in Los Angeles,

00:42tries to settle the great debate.

00:45Is remote work here to stay, or has it had its day?

00:49Gone are the days when a 9-to-5 office job was the only option.

00:53Today, flexible schedules, remote work, and digital collaboration tools are redefining

00:58how we approach our jobs.

01:00It's in this evolving landscape that a new generation of working practices is stepping in.

01:06Meet Gen Z.

01:08They're currently between their early teens and mid-20s.

01:12They make up about 32% of the global population, and is expected to represent 27% of the workforce

01:18this year.

01:19That's according to Forbes.

01:21As they step into the labour market, new roles are emerging, while more conventional

01:26jobs are disappearing.

01:28Existing workers will be required to upskill to stay in the workforce.

01:32The World Economic Forum states that 44% of skills will be disrupted in the next five

01:37years, with the largest losses expected in administrative, customer service, and security roles.

01:45So what are some key trends reshaping the workforce today, and how are they impacting

01:50our work environments?

01:52I spoke with Pedro Moreno de Fonseca, a technical specialist at the ILO, a Geneva-based United

01:58Nations agency, who highlighted the rapid advancements in communication technologies,

02:03the rise of automation, and the increasing importance of data analytics.

02:08Women are participating more in the labour market, especially in occupations which require

02:17more science and technology skills.

02:21We have, of course, a rise in automation that is also connected to the trend for stronger

02:30use of artificial intelligence.

02:32We have also a strong employment these days of data analytics, which is affecting management,

02:39growth of the gig economy, growth of e-commerce, and all these things are very important and

02:45are having very strong effects.

02:48But the fact that we have an ageing population is also having a strong effect because people

02:53stay longer at work.

02:55Well, for companies who have decided to end hybrid work, getting employees to follow the

03:01new guideline has proven to be quite a challenge.

03:04Some have had to resort to enforcing the rules, while others have taken a softer approach

03:09by sprucing up the workspaces instead.

03:12That's what our reporter Cyril Forneris found out in Paris.

03:16Hello, Leila.

03:19As remote working loses momentum, business districts across the world are doing all they

03:24can to make sure people return to the office in the best conditions.

03:29Here at Paris La Défense, this means creating smaller and greener spaces.

03:35Take a look.

03:42Gone are the endless open spaces and concrete slabs.

03:46This famous esplanade is to become a five-hectare park by 2027.

03:51Inside the buildings, another transformation is underway.

03:54Companies now want less space, and more importantly, quality space.

03:59The workers are much more ambitious about the environmental qualities of the buildings,

04:04of the place they work in.

04:05The usual, very standard and monofunctional work environments have begun to disappear

04:11quite completely.

04:12It's obviously very important for the future of La Défense that we are able to transform

04:17and to rethink the usage of these existing towers.

04:21Numbers show that firms are more reluctant to invest in property, which opens up opportunities

04:26for temporary and shared workspaces.

04:29Querc is a French startup that offers top-of-the-range office space for rent, including spa, gym

04:35and gourmet restaurant.

04:36They have just opened this new co-working space, with every detail considered to meet

04:42their clients' needs.

05:03That's it Leila, the future of work is here and it's all about finding balance.

05:09Well, like the companies in Paris, industry leaders like Amazon, Meta and JP Morgan have

05:15also decided to phase out their work-from-home policies.

05:18I asked Ryan Patel, Board Director of the Drucker School of Management in California,

05:24if there is a case for firms, big or small, to keep a hybrid working policy.

05:30Hybrid work is not a trend anymore, it's kind of becoming a standard.

05:34The hybrid work policy, you have to put work into it.

05:38So it's not something that you can just create a policy for one company, they can copy it.

05:41Now, with big companies, let's be very honest, they have a lot of real estate.

05:46So when you have a lot of real estate, what do you have to do with that?

05:49You have to use it.

05:51Amazon is setting a trend here that their policies may feel maybe rigid to others, but

05:57for them it works.

05:58I believe age diversity isn't really a challenge, I think it's a competitive advantage.

06:03When you think about having baby boomers, millennials, Gen Z, Generation X too, I think

06:08companies have a rare opportunity to increase.

06:11So if everybody in the room looks and thinks the same, you're probably solving the wrong problem.

06:18Now it's time for our regular feature, Business in 60 Seconds.

06:22Start the clock.

06:23LG is gearing up for its fourth quarter 2024 financial results as its subsidiary LG Electronics

06:30plans to launch the Q9 AI-powered humanoid robot this year, challenging rivals like Hyundai and Samsung.

06:37LG is also accelerating investments in appliance subscription services and its AI platform business

06:43as part of a strategic shift.

06:45Levi Strauss is set to announce its Q1 2025 earnings report as it doubles down on its

06:51sustainability efforts to reduce the carbon footprint across its manufacturing, logistics

06:56and other businesses.

06:58The denim giant aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 90%

07:04this year.

07:05And United Airlines is preparing to release its first quarter 2025 revenue report as it

07:10rolls out Starlink's Wi-Fi on commercial flights to improve passenger experience.

07:16The US carrier aims to equip its entire fleet with this innovative technology by the end

07:21of the year.

07:23So while we can't deny that how we work and how we use our workspaces has drastically

07:28changed in the last few years, should another unprecedented event happen again, we've

07:33proven we can adapt so productivity doesn't grind to a halt.

07:37To keep up with changing trends, upskilling will play a big role in businesses across

07:42all industries.

07:44Well, that's all the time we have for on this edition of the show.

07:47Thanks for watching.

07:48Please do check out Euronews.com for all your latest business news and join us again

07:52next time on The Exchange.

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