Humans have always tried to foresee the future of work and education. It was not just about the changes, but also their timing. The global pandemic has spurred digitisation across the board, and innovations expected in 5 or 10 years are already the reality. The accelerated advent of remote learning and work has changed everything.
Now, the whole human race has been thrown into one global experiment. As vaccination efforts have just started, the new digital ecosystem is vital. For businesses, it is the survival of the fittest — or, to be more precise, the most intelligent and adaptable. Candidates also have to conform to the changing reality.
New Perception of Education
Conventionally, higher education has been seen as a prerequisite for long-lasting success. Now, the college system is disrupted by the rise of digital credentials. The value of higher education is questionable, as universities have largely become irrelevant considering the current industry needs. Their curricula are often outdated.
Instead, businesses are investing in their own training camps. For example, it is true for the HCL company. It takes on students straight out of school and trains them in the engineering profession. Businesses of a smaller scale partner up with online education platforms to train or retrain the workforce.
The Future of Education
The fact that online courses are more up-to-date and industry-oriented is nothing new. Competition between offline and online education has existed since the latter emerged. Of course, a degree from a prestigious university is still a favourable addition to a resume. It is a testament to your knowledge and skillset, so employers do pay attention.
Virtual alternatives provide their own certification through so-called mini degrees or nano degrees. Companies have learned to acknowledge this new system of credentials as well. In the future, the trend will persist and spread further.
Some jobs do not require any formal credentials at all. For example, one can learn forex trading free through the ForexTime broker, and build a profitable career. The forex trading segment is booming in India and many other countries.
Digital credentials provide employers with a wider and better range of data for recruitment decisions. Eventually, they should access activity logs of candidates through partnerships with e-learning providers. This will facilitate the optimisation of hiring strategies.
Changes in Work Culture
In the past, relationships between employees and employers were based on essential economic and demographic factors. Today, you can work from any place in the world. Remote systems disrupt conventional work culture. An office lease is now unnecessary for many businesses.
We can expect many companies to tap into the international talent pool. Employees, on the other hand, will choose vacancies in the global job market. This will result in enhanced flexibility and higher quality of matches. The gig economy will continue to grow; experts and companies will be more open to project-based engagements.
Freelance systems should also continue to evolve. They allow individuals to create communities and complete work through collaboration. It is also easy to evaluate one’s own track record and capabilities.
New Perspective on Headhunting and Job-Seeking
The old-school approach to job seeking is still valid. You go to a headhunting side, look through job postings, send your resume and wait for a response. What is new is the phenomenon of outbound hiring.
This describes a situation when hiring managers search for candidates for specific positions. To fill them, they essentially poach employees of other companies. They reach out to them and make proposals. With the power of data, this practice is going to accelerate across industries in India.
Today, your social media activity may increase or decrease your chances of getting hired. We know that Facebook and Google collect data about us to show relevant ads. Hiring managers now have access to our digital footprints: these include social media profiles on Facebook, Twitter, or Instagram, and other aspects of online behaviour.
Future of Hiring
It is reasonable to expect that recruiters will soon prefer the international talent market, so they will need to sift through large data volumes. Specific algorithms will be deployed to facilitate the process. It will help sort candidates and assign scores based on their digital footprints. Here is how this could work:
- Your data is collected online.
- It is analysed.
- Businesses evaluate you using data analysis.
- You end up on their shortlist if your score is high.
Today, the job market is being transformed by new technologies. In the future, companies will gain access to more data and larger talent pools. College degrees are losing their appeal, and office spaces are no longer relevant. Across industries, work is becoming more flexible than ever.