Page 99 - FDI Alliance International Magazine. Spring 2021 Digital Interactive Issue

and permanent) has greatly accelerated changes in consumer practices and even if a return to the traditional workforce becomes possible. Individuals
the movement of goods. This has caused rapid change and development finding success in this manner, are much less likely to return to the standard
in the logistics industry resulting in an almost insatiable need for warehouse workforce population. This will likely lead to generational changes with
space and last mile delivery capacity. Due to this trend, there have been younger sections of the population utilizing newly developed skills that launch
significant growth and investment in delivery companies that has also been new careers sustained by access to the internet and social media platforms.
accompanied by increased expectations from the public for quick delivery. The end result will be a generation less attached, and less likely, to look
Relatedly, hundreds of millions of square feet of warehouse space continues to the corporate world for opportunity (https://www.milforddailynews.com/
to be built, fueling the construction industry. The surge in development is in story/opinion/2021/03/07/covid-19-downturn-appears-have-unleashed-
THE FUTURE OF WORK AND ITS IMPACTS ON response to consumer demand for short delivery timeframes for a range of wave-entrepreneurialism/6891150002/).
goods and products (https://ajot.com/premium/ajot-covid-19s-impact-on-
CITIES, SOCIETY AND THE WORKFORCE warehousing-might-last-longer-than-the-pandemic). ■ THE NEW WORKFORCE OF THE FUTURE

■ HYBRID/REMOTE WORK The workforce of the future will look like one impacted and influenced by all
of these factors and will be more dynamic than ever, while also presenting
The advent of the pandemic forced a range of changes to how people a range of challenges to all age groups. As a greater percentage of the
both work and socialize. As a result, work modes have and will continue workforce will continue to work from home and/or utilize hybrid models
■ CURRENT STATUS OF THE WORKFORCE job opportunities require such access, over time, an increasing proportion to evolve within various industries. In response to an acutely changed social of work including home, onsite and remote, de-centralized offices, urban
of the job market will become inaccessible to those without adequate landscape, many companies and organizations have discovered that many and suburban economies, land use and traffic patterns will evolve. This, in
Historically, the world's workforce evolved primarily in response to internet access. Consequently, career opportunities will be delayed at best onsite work functions can be performed remotely just as effectively, or turn, will yield additional macro and micro changes to communities and
technological advancement and innovation. As a result, industry and and, in some instances, greatly reduced. An extrapolation of impacts has even more so than in the office. To facilitate this operational model, many the workplace.
workers alike evolved to meet the needs of the times. However, in recent the potential to create significant headwinds for industries across the globe companies and institutions have provided equipment and/or otherwise
decades, industry has largely not kept pace with the need for workforce via fewer experienced and/or qualified workers for available jobs. Related, subsidized remote employee access to the job via home office equipment, The decentralization of work may result in the establishment of internet and
development and training. This is partially attributed to heightened corporate cumulative effects will reverberate through the workforce for years to come. furniture; internet access, and wi-fi equipment. This reality has real world work hubs - evolved versions of Common Desk and other similar spaces
focus on redirection of a greater proportion of profits to executives and consequences and impacts that are reshaping both suburban and urban - that emerge as viable alternatives to in-office work. This form of work
boards of directors. Coupled with efforts to drive efficiencies via automation Additionally, the global pandemic has created immense pressures to divert landscapes. space will provide work opportunities closer to home for a wide range of
and other technological advancements, ever larger swaths of the workforce public resources away from educational expenditures to the health sector workers. Less travel demand, shorter commutes (and related decreases in
are pushed out of traditional employment. Contemporaneously, reduced (http://www.oecd.org/education/the-impact-of-covid-19-on-education- Many companies have allowed employees to work hybrid schedules air pollution), reductions in the cost of living related to lower auto ownership
investment in human capital through workforce development and training insights-education-at-a-glance-2020.pdf). including working from home for a portion of the work week combined rates, and greater work/life balance might combine to create less stressful
results in diminished skill sets, lack of preparation for the continuously with scheduled onsite office time. Expanded utilization of video conferencing work environments which will lead to higher worker productivity.
evolving economy and, ironically, perceived disconnects between industry (dependent on reliable internet access) has afforded additional options for
and under or unemployed workers. Added to this already monumental ■ ACCELERATED AUTOMATION collaboration, meetings, presentations, socializing and team building. In conjunction, communities that utilize land use policy to maximize opportunities
challenge, remote education of secondary and post-secondary students for mixed-use development, workforce housing and new assortments of
has both negative and positive consequences. The emergence of the Accelerated automation of work continues to impact industry. The global However, given the broad range of circumstances and environments within commercial and residential spaces while leveraging partnerships to
COVID-19 global pandemic not only forced economies into a tailspin, but pandemic has forced many industries to reconsider operational models, which employees reside, moving forward, various industries will likely bring internet access to larger segments of the population, will be the most
has greatly impacted, and most likely, forever altered educational the value of the worker and expedite the adoption of technological continue evolving operational models and associated functional roles. successful and economically sustainable. In turn, lower costs of living will be
advancement, industry and the workforce. advancements, thereby, reducing reliance on human resources (https:// Further, as more and more people desire this kind of flexibility, companies possible due to reduced transportation needs and, by extension, reductions
www.uschamber.com/co/good-company/launch-pad/warehouse-robotic- with the most flexibility concerning all of these variables will undoubtedly in the aforementioned need for automobile ownership. This trend will be
automation-coronavirus-pandemic). These variables have combined to be the most effective at attracting and retaining quality workers. A Stanford accompanied by the continued evolution and proliferation of autonomous
■ EDUCATION reduce the number of workers while, in some instances, significantly University study of over 2,000 employees revealed that nearly 60 percent vehicles which will further dampen auto ownership rates. The future of work
enhancing profits. This phenomenon has also impacted the knowledge- prefer a hybrid mix of on-site and remote work. Research reported by will present many challenges and new opportunities to reshape not only
The global pandemic has escalated trends in education that were already based economy as artificial intelligence and advancements in software CBRE noted that 70 percent of surveyed executives said that some of their how we work, but also how we live.
afoot. In recent years, long distance and remote learning has become more programming further erode the need for human resources. In the future, workforce would work remotely and 61 percent indicated that employees
prevalent as educational institutions, industry, a broad range of students as these variables will continue to contribute to forces pushing more people will be offered the option to work outside of the work site at least part-time.
well as workers have become more able and equipped to take advantage into entrepreneurial endeavors resulting in transformational change to both MICHAEL GRACE, AICP
of this new and accessible medium. However, some people are not able corporations, people and society. N. CENTRAL TEXAS - DALLAS ECONOMIC
DEVELOPMENT DISTRICT
to afford internet access and many communities have limited access to ■ CREATIVE & ENTREPRENEURIAL FOCUS
internet service. This has resulted in significant impacts to students and the
workforce. ■ EXPANDED LOGISTICS The mass exit of millions of people from the workforce, as a result of the michael.grace@outlook.com
COVID-19 pandemic, has pushed many people into the creative and
Students that have not been able to secure adequate access to the internet The pace of expansion in the logistics industry exploded due to the global entrepreneurial class. Undoubtedly, this change will become permanent for 972-767-9335
are falling behind in their educational pursuits. As an increasing share of pandemic. The shift to operational models focused on remote work (temporary a sizable segment of the population as some will opt to continue such work

99. FDI ALLIANCE INTERNATIONAL