There’s no doubt that technology is affecting the future of work. The growth of technology within the last decade is indescribable. The innovation of technology created jobs that we never expected such as product management and search engine marketing. Jobs such as data scientists, data change agents, and data architects will be in demand more than ever. However, what are the consequences of the technological revolution? Will technology wipe out jobs? What impact will it have on education, income and quality of life? These are the many questions people fear.
As it turns out, there is nothing to worry about. The economy will adapt with the changes. Yes jobs will be lost, but jobs will also be created, better ones too. Many jobs will also increase in demand. For example, a survey from the Office for National Statistics suggest that there was a 580% increase in teaching and education support assistants between the year 1992 – 2014. In general, technology leads to more efficient allocation of labour.
Technology makes things cheaper, allowing us to become wealthier as we can purchase more products with the same level of income. For example, technological progress has cut the prices of essentials, such as food and household items, such as kitchen appliances. This allows people to have more money to spend for leisure, and creates new demand and jobs within that industry. Our quality of life has significantly improved. For example, 100 years ago people took no vacation and worked at least seven days a week. As people became wealthier, many chose to work less. Today, we no longer work a 100 hours per week, instead, we work on average 39 hours per week in the U.S. As a result, we have more vacation time and we get to work less. The trend will continue as technology continues to decrease our cost of living across the country.
For those who fear that technology is going to take over jobs, it’s worth mentioning that the transitions are much slower than many suspect. If technology were to replace people, it’s going to take a while for that to happen. And when it does, it only makes sense to replace humans in cases where it makes the most economic sense. If technology were to replace humans, people become more free and start doing new productive work. It’s important to remember that technology offers many benefits and has the potential to improve employee job satisfaction.
Interested in learning how technology can improve employee job satisfaction? Check out http://hr-gazette.com/improving-employee-job-satisfaction-human-capital-management-systems/