Workers worldwide have highlighted rising work stress and the threat of technology replacing jobs as the primary challenges to organisations achieving human sustainability.
These findings are based on Deloitte’s Global Human Capital Trends 2024 report.
According to the results of the survey, the relationship between workers and organisations is becoming increasingly strained amid widespread societal and business disruptions. For example, only 43 percent of workers feel that their organisations have improved their well-being since they joined.
In addition, numerous developments in both the global landscape and the workforce risk leaving individuals worse off.
Here are the challenges facing the global workforce:
Widespread worker burnout
Constant change and overwork are straining employees. In 2022, global worker stress hit a record high for the second consecutive year, with around half of workers reporting they “always” or “often” feel exhausted or stressed. Over 40 percent report feeling burned out at work.
Concerns over AI Replacing Jobs
A recent study shows that roughly two-thirds of workers in the United States and Europe could be impacted by generative AI, which may replace up to a quarter of current work.
Goldman Sachs estimates that “roughly two-thirds of current jobs are exposed to some degree of AI automation, and that generative AI could substitute up to one-fourth of current work.”
A study by McKinsey Global Institute estimates that 29.5 percent of all hours worked could be automated by 2030.
The World Economic Forum estimates that generative AI could lead to 83 million job losses globally over the next five years, with women workers particularly vulnerable.
Read also: Artificial Intelligence in Nigeria: How ready are we?
Rapidly evolving skill needs
Skills are evolving rapidly, but only five percent of executives strongly agree that their organisations are investing enough in helping employees develop new skills to keep pace with the changing work landscape.
Lack of support for gig and contract workers- approximately two billion people globally work in informal or contract positions. Although these workers often perform similar tasks to their hired counterparts, they may earn less and lack benefits or protections.
Lack of tangible progress on DEI
Nearly all HR leaders (97 percent) report that their organisations have taken steps to improve diversity, equity and inclusion (DEI) outcomes, yet only 36 percent of workers strongly agree that meaningful progress is being made.
Poor conditions for frontline workers:
Frontline employees make up about 80 percent of the global workforce, yet research indicates they often feel underserved by training, have fewer opportunities to engage in meaningful projects, receive low wages, have limited paid time off, and lack health insurance.
Impact of climate change and energy transition on workers
The Deloitte Economics Institute estimates that over 800 million jobs worldwide—one-quarter of the global workforce—are highly vulnerable to climate extremes impacting access to clean air, water, and the economic effects of the energy transition.
An extractive approach to workforce management, focused on maximising short-term gains while minimising costs could exacerbate these issues.
This may drive organisations to use AI to eliminate rather than enhance jobs, resist post-carbon transitions, expand the gig workforce with minimal protections, overlook DEI investment, and contribute to worker burnout.
Despite these challenges, many of these developments present significant opportunities for both individuals and organisations. Embracing human sustainability offers a path to harness these changes to create a better future.
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