Here’s what the workplace will look like in 2025

There is no way around it; the coronavirus has forever impacted and changed the workplace is now and in the future.

While your current industry’s landscape may remain unchanged, many of the shareholders and stakeholders involved in your organization are certainly going to be more focused on remote work and similar integrations.

If your industry is currently embracing the new workplace environment, you will continue to see strides to maintain oversight and efficiency while moving to a more online presence.

If your agency is required to maintain a traditional workplace with in-person meetings, how your outside partners work with you will undoubtedly change.

Recent surveys and interviews have been conducted with various executive leaders to gain insight into the future of business and what it means for employees.

The McKinsey Global Institute conducted one notable study. McKinsey received responses from 800 executives about what they envision the workplace will look like going forward.

Digitization and automation technologies are the new future

Some of the more apparent changes involve a massive investment into automation and digitization, a heavier reliance on freelancers and contractors, and not surprisingly – more remote work. 

Because remote work can add obstacles to effective communication and collaboration, employers struggle with how to adapt while still maintaining efficiency and profits. While video meetings and file-sharing have been pretty easy to adjust, companies are looking for ways to increase customer service with mobile apps and interactive chatbots.

The financial industry is seeing the most significant changes

While many industries still need a physical presence at locations, the financial sector sees a surge towards a more mobile-focused online shift. According to the McKinsey Global Institute, 88 percent of insurance and finance executives see a significant customer movement towards online banking and automation. 

With wireless transfers on the rise with services such as Venmo, visiting retail banking branches is quickly becoming unnecessary. 

Not all workplaces will be able to become remote

A significant number of industries report the inability to transition to a remote work model. Studies show that more than 60 percent of workers will not be able to transition to this new model due to the nature of their services.

This means at least 60 percent of the overall workforce will still need a physical location to report to perform essential functions.

While this number may seem significant, an even more significant number is the 40 percent of workers who may have a new normal working remotely. 

Jobs in the future

Because automation and remote work are increasing in popularity and necessity, many executives focus on hiring contract and freelance employees. McKinsey reports a stunning 70 percent of executives expect to use more temporary employees in the future than before the crisis.

While this may mean the availability of more side hustles and ways to increase temporary income, the reliance on contract workers can mean fewer benefits, if any, paid to future employees.

Increasing your value to secure a long term high paying position

As the workplace continues to evolve, look to see more employers placing value on hiring full-time employees who can bring value and income to a company. Organizations undoubtedly will look to pay more for performance, i.e., commissions, rather than paying for someone to fill a seat.

Increase your value by staying on top of local and current trends in your industry and how you can continue to deliver results and improvements to a rapidly changing workplace.