Let’s face it: How many friends do you know who actually love what they are doing? Studies show that most people in the world hate their job and especially their boss. Forbes magazine reported on the poll, saying “work is more often a source of frustration than fulfillment for nearly 90% of the world’s workers.”

Many are feeling unchallenged and bored at their workplace. About 1 of 3 want to want to quit and get new a job and 1 of 4 are asking for salary increase.

The new COVID-19 virus could claim up to 24.7 million jobs, according to International Labour Organization (ILO) estimates. Many workers who lost their jobs have an inadequate safety net, meaning mass unemployment with millions of people falling into poverty.

The true extent and impact on the labour market will only become apparent in the coming months, bit by bit. For example, AirBnB recently closed its largest international office in Barcelona – overnight without any prior notice.

22 million jobs were lost around the world between 2008/09 during the global financial crisis. Many economists and bankers around the world have been warning from the next inevitable fallout since years. Accelerated by the current corona pandemic the signs of the next global financial crisis are clear.

Long-term trends around the uptake of automation show that tens of millions of jobs will be lost, especially in poorer local economies that rely on lower-skilled workers. Income inequality, high unemployment rates worldwide as well as increased poverty are likely.

Today we already see how models in the fashion industry or even actors become redundant and how receptionists in Japanese hotels are replaced by cost-effective androids providing a standardised level of service. Sophisticated algorithms are forming the future.

Billionaire tech titan Elon Musk has been tweeting and saying that mass-unemplyoment will make cash handouts necessary because robots take over most humans’ jobs. Other billionaires like Facebook founder Mark Zuckerberg or Richard Branson have indicated their support for a universal basic income.

However, this will not solve the biggest social challenge: Most people derive their meaning from their work. But what if there is no need for their labour? How do people find meaning in the future?

Talentolo can also help here to give everyone the possibility to make the best out of their dedication and to not feel useless.

The study by RBC in July 2018 concluded: “Canada is shifting from a jobs economy to a skills economy“. The report also stated that “employers, universities, colleges and other governmental organizations are not ready for this shift.”

The same trend is taking place worldwide. The underlying reason is simple: Skills, not job titles, are the new metric for the labour market. LinkedIn has even developed the Skills Genome. Also, this well-known IBM survey of over 1500 CEOs from across the globe cited creativity as the defining characteristic of tomorrow’s leading organizations. The days of working at a giant company until you get a gold watch and retire with a pension are over.