With new technologies and social realities emerging, the job roles, nature of projects, and skills in demand in the future will be discretely different than today. The relationship between people and work is evolving, leading to the emergence of new work models with a wide array of opportunities as well as challenges. Moreover, global internet access continues to foster new modes of collaboration between employees and partners.
As organizations are evolving, project economy is emerging as a thriving global phenomenon. Project economy encompasses delivering value to the stakeholders via the successful completion of projects. It is estimated that by 2027, around 88 million people around the world would be associated with project management, and the project-based economic activity will be valued at approx. $20 trillion. To that end, project management professionals will be the harbingers of innovation and the organization leaders of tomorrow.
With the entrance of millennials in the workforce, the number of people associated with the gig economy and digital platforms is on the rise as people are increasingly valuing the flexibility and freedom that stems from the nature of freelance projects. Further to this, flexible floor plans, lesser hierarchy, and smaller corporations will continue to thrive. According to McKinsey Global Institute’s report, the top three skill sets of workers that will secure the best careers for the future can be broadly classified as higher cognitive skills, creativity, and flexibility. The dynamism of demanded skills would require upskilling and reskilling across the board; whether as a safety net for those likely to stay in their jobs or as a displacement plan for those who lost their jobs.