Why the labour market is evolving and how employers are adapting
Astro Awani
January 14, 2025 18:44 MYT
January 14, 2025 18:44 MYT
Advancements in AI, big data, and cybersecurity are transforming skills demands, writes Ng Peng Chin, participant of "The Collision Room" by Astro AWANI.
By 2030, the career landscape will undergo significant changes. As AI and technology advance, skills like cognitive abilities, ethics, and technology-related expertise will either gain or lose importance. Preparing for these ongoing and future transformations is essential.
Key Drivers of Skill Disruption: Three macrotrends are reshaping the labour market:
* The article is written Ng Peng Chin, participant of "The Collision Room" by Astro AWANI, an initiative within Project Sigma, a global program by the Google News Initiative (GNI).
Technological Change
Advancements in AI, big data, and cybersecurity are transforming skills demands. Analytical and systems thinking will grow in importance in this data-driven era.
While technology creates jobs, it can also displace them. However, Generative AI (GenAI) is enhancing human abilities by fostering machine-human collaboration rather than replacing human input. Crucially, human-centered skills remain irreplaceable.
Geo-economic Fragmentation
Global crises and economic shifts are increasing the need for adaptability and human-centered skills. Businesses now value creativity, resilience, and social acumen to navigate uncertainty and innovate amid slower growth and trade barriers. These are skills AI cannot replicate.
Demographic Shifts
Aging populations and shrinking workforces in developed economies highlight the need for mentoring, talent management, and empathy. Soft skills like self-awareness and interpersonal communication are becoming essential across all sectors.
How Employers Are Responding: Recognising these disruptions, employers are focusing on:
Reskilling and Upskilling
Organisations are investing heavily in workforce training to align skills with evolving demands. This boosts productivity, competitiveness, and talent retention.
Training Programs and Partnerships
Employers often fund their training initiatives but increasingly value government and public-private partnerships to support reskilling efforts.
Employee Well-Being
Acknowledging the human touch, employers are prioritising health and well-being programs to enhance talent availability and performance from 2025 to 2030.
The future of work emphasises adaptability, collaboration, and continuous learning. By embracing these changes, the labour market can thrive amid disruption.
* The article is written Ng Peng Chin, participant of "The Collision Room" by Astro AWANI, an initiative within Project Sigma, a global program by the Google News Initiative (GNI).