McKinsey Study: What 800 executives envision for the postpandemic workforce
The COVID-19 pandemic has caused major disruption to our working lives in the short term, and is likely to change the way that we work in the long term. To understand these changes, McKinsey commissioned a survey of business executives around the world in June 2020. The results suggest that the crisis may accelerate some workforce trends already underway, such as the adoption of automation and digitization, increased demand for contractors and gig workers, and more remote work. Those changes in turn will create greater demand for workers to fill jobs in areas like health and hygiene, cybersecurity, and data analytics.
The responses to the survey point to a period of disruptive change ahead. Not only has COVID-19 thrown millions of individuals out of work, but the mix of jobs that emerge from this crisis is likely different than those that were lost. People with the lowest incomes and educational attainment have been disproportionately affected, putting strains on achieving inclusive growth and potentially raising income inequality. Small and midsize businesses and communities of color, already more severely affected by COVID-19, are also more vulnerable to disruption from increased automation.
These insights are based on a recent survey of 800 executives, representing a full range of industries in eight countries. Half of the respondents are based in the United States, and the rest work in Australia, Canada, China, France, Germany, India, Spain, and the United Kingdom. The respondents represented businesses of different sizes, with a quarter from companies with less than $1 billion in revenues, and the remainder split between companies with revenues of $1 billion to $10 billion and those with revenues over $10 billion.