May 17, 2017
Automation starting to generate productivity gains, but no major job losses yet 0
Business process automation is enabling companies to realise significant productivity gains in such areas as finance, accounting and HR, but it is not yet leading to broad job losses, according to a new study from tech research firm Information Services Group (ISG). Beyond automation’s impact on enterprises, the first ISG Automation Index report also claims that IT service providers are extensively introducing automation into their offerings, leading to dramatic improvements in productivity and service levels. This accelerated pace of change is prompting the vast majority of IT and business leaders to say that IT will be the business function most impacted by automation in the next two years.
The UK economy is about to be hit by a fall in basic pay awards and real wages warns the CIPD, which has found that employers’ median basic pay expectations in the 12 months to March 2018 have fallen to 1 percent compared to 1.5 percent three months ago, which is lower than at any time during the past three and a half years. The findings from the latest CIPD/The Adecco Group Labour Market Outlook survey are consistent with recent Labour Market Outlook reports, which have indicated a slowing in the rate of basic pay growth, and with official labour market data. The report also found that 12 percent of private sector firms say the UK’s decision to leave the European Union has led them to consider relocating some or all of their business operations abroad. Popular relocation destinations include the Republic of Ireland (18 percent), Germany (17 percent) and France (13 percent).
If UK businesses are to remain competitive whoever wins the election on 8 June needs to invest in skills and career advice, as Brexit uncertainty means people are hesitating to move jobs, while there may be barriers in future to hiring workers from abroad; according to the latest research into the UK jobs market by the Recruitment & Employment Confederation (REC). The jobs market experienced the steepest drop in candidate availability for 16 months in April while demand for permanent and short-term staff remained high. Although growth in permanent starting salaries edged down to a four-month low in April, it remained sharp overall and stronger than the series average. Meanwhile, hourly pay rates for short-term staff increased at the sharpest pace in 2017 so far. Vacancies continued to rise markedly in April for both permanent and temporary/contract staff. This was despite growth in demand for both types of staff softening slightly since the previous month.
As alarm grows in some circles over the impact of technology on future job prospects, a new survey suggests that Millennial’s jobs are likely to be at lower risk of automation. Research into how different generations choose jobs by jobs site Indeed compared the online search patterns of millions of UK jobseekers over the six months to March and found that younger people are substantially more likely to choose roles deemed to be at lower risk of automation. Nearly half of younger jobseekers were drawn to automation-resistant jobs, compared to fewer than four in 10 over-50s. These baby boomers are two thirds more likely than millennials to seek the manual jobs at highest risk of automation. While nearly half of millennials (48 percent) were searching for what economists term ‘non-routine’ roles, 61.1 percent of baby boomers were looking for ‘routine’ jobs. Routine jobs – which include sales, admin, transport and construction roles – are seen as being at higher risk of automation than non-routine work, which includes management, professional and service roles.
May 3, 2017
Wiring your brain to the Internet? What could possibly go wrong? 0
by Christopher Markou • Comment, Technology, Wellbeing
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