Wednesday, January 18, 2017

WEF Report: Employers in India likely to trim head count by 25% on automation

Davos, January 16: More than a quarter of employers in India are expected to reduce their headcount on account of automation, which is expected to impact majority of companies worldwide, says a report. In a report released today, leading HR consultancy ManpowerGroup said new technologies would require increasingly specialist skills for people and organisations. “Over a quarter of employers in India expect to reduce headcount,” the report said, adding that Bulgaria, Slovakia and Slovenia are close behind.

The findings of the report titled ‘The Skills Revolution’ are based on a survey of 18,000 employers across all sectors in 43 countries, published today at the World Economic Forum (WEF). “More than 90 per cent of employers expect their organisation to be impacted by digitisation in the next two years,” it said. On the other hand, employers in Italy, Guatemala and Peru are the most optimistic about the impact of automation on jobs. “We cannot slow the rate of technological advance, but employers can invest in their employees’ skills so people and organisations can remain relevant,” the report added. It noted that technology would replace both cognitive and manual routine tasks so people can take on non-routine tasks and more fulfilling roles.

“Creativity, emotional intelligence and cognitive flexibility are skills that will tap human potential and allow people to augment robots, rather than be replaced by them,” it said. For people, employability — the ability to gain and maintain a desired job — no longer depends on what you already know, but on what you are likely to learn. “In this Skills Revolution, learnability – the desire and ability to learn new skills to stay relevant and remain employable – will be the great equaliser,” said Jonas Prising, ManpowerGroup Chairman & CEO.

“It’s time to take immediate action to up skill and re skill employees to address the gaps between the Haves and the Have Nots – those that have the right skills and those that are at risk of being left behind,” Prising said further. Globally, the report said in the short term, the future of work is bright as most employers expect automation and the adjustment to digitisation will bring a net gain for employment. “Eighty-three per cent intend to maintain or increase their head count and up skill their people in the next two years. Only 12 per cent of employers plan to decrease head count as a result of automation,” the report said.

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