Michael Krishnan, Mckinsey Global Institute, Mckinsey And Company's Business And Economics Research discussed on Workplace Perspective

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A fascinating look at at the workplace of the future with an eye towards the impacts of automation on the careers and lives of women around the globe today show we can be sharing her thoughts and insights on this report and its overarching message of inspiration and hope. It's going to be great. Show go away. We'll be right back. Be opinions expressed by guests on workplace perspective. Do not necessarily reflect those of sapphire legal. Or it's attorneys. Ed should not be considered legal advice. You're listening the workplace perspective and employment law podcast presented by sapphire legal. Welcome back everyone and welcome to work. Place perspective michaela. Thanks theresa research to be on. I'm really excited to have you on. But before we start wanted you tell everyone a little bit about who you are and what you do. Yeah my name is michael krishnan. I'm a senior fellow at mckinsey global institute which is mckinsey and company's business and economics research on where essentially a think tank that sits inside of canadian company at mckinsey. I do research on a whole range of topics. I look at questions. Related to productivity growth is studied climate risk but for the purposes of this podcast. Large group of work that i do has to do with women and they're all enable markets. And how are different trends shaping. Labor markets could impact women. Well we're super excited to have you on the show. And i'm really excited to talk about this report. I have read it. And i thought it was just fascinating so again. The report is titled the future women at work transition in age of automation. You are a co author. So why don't you tell and listeners. A little bit about the report mommy start. Yeah absolutely so. There are of course a lot of reports out there that talk about the future of work but we thought based on the broader research we've done about women's role in labor markets that the future work is not likely to impact men and women equally. We wanted to really try and understand. What could women experience as we move into the future of work as friends like automation reshape labor markets. So we really wanted to try and understand the impact. It could have on men distinct from the impact it could have on women and then through. That's the start to explore. How women maybe position to make the most of the trends that we may see in the future and how we may the able to put in place practices in policies to help support women make suitable transition to the future world. We also as we did. The work looked across. Ten different countries both developed as well as emerging economies So happy to talk more about that as we go through this conversation. Well one of the things. I'm going to jump. Because i think it's amazing. The idea it sort of counterintuitive. So when you even say impact men and women. My mind automatically goes to our so disadvantaged within your so discipline but the report. Actually statistics didn't support. That did it. Yeah absolutely so on the one hand way so you still conversation that says women are disadvantaged in the labour market and of course that is true and we can talk a little bit more about that later on but when you purely think about trends related to the future works on the one hand how men and women could be impacted by automation. We find that actually men and women would be equally impacted by automation. Automation could impact about twenty percent of the jobs that women hold about ninety percent of the jobs that men hold. And that's not surprising when you think about the types of automation technologies. We're talking about today. It's robots in factories which could disproportionately impact men's as men welcome factory jobs but it's also virtual assistance in an office setting or cashier or self checkout in the retail setting which disproportionately impact women so net net roughly equal impacts of automation on both men and women. The future work is not just about automation. Right it's also thinking about what opportunities that are to be created so as companies for example invest in new technologies. They're going to need a workforce to support those technologies as we see trends like aging populations. We expect to see increase in demand for sectors like healthcare as we see New needs in the workforce incomes of skills. We're going to see increased demand for sex education and these are sectors that disproportionately employ women please so when you think about the trends that we see in terms of growth opportunities many of the various sectors that are likely to grow are the ones that women are in today and so in that sense women may be well positioned to take advantage of some of these trends and so far. We've talked about the. Because i want to transition and talk about those but go back a little bit and talk about some of the challenges that women face in the world as we know it. Forward this age of automation absolutely. So when you think about these job losses from automation that i described the job gains from other opportunities what that means in one word is transition right so people are going to have to switch occupations. They're going to have to reskill themselves. So this is going to be a time that requires large amounts of change and so as well coast looked navigate. This basically three things that they need. They will need to reskill themselves. They will need to be more violent flexible and they will need to in some way work with technology and women unfortunately face challenges and all of these three fronts the very e earlier that we experienced day to day in in our day to day as women could impact their ability to navigate. These transitions to the future. Work and these transitions are going to be enormous. We expect that forty to one. Hundred and sixty million women blow believe. That's one in four women. Meany change occupations as we phospholipid before these so that's a huge amount of change and disruption occurring and women in particular may find these changes challenging when we think about skills for example we know in many countries. Women have lower educational attainment rates than men. Women also frankly have less time than men to reskill rights across the world. We find that women might do three times. The amount of unpaid work in the home so things like cooking cleaning watching children so now not only will they have to work in paid. Work do their unpaid worlds. They also need to find time to reskill themselves. Women have challenges related to mobility and flexibility. This is everything from a lack of sponsorship that may make changing jobs and occupations hard for women to issues in many parts of the world that have to do with transportation a lack of transportation infrastructure. Which makes it challenging for to reach workplaces slightly different issues when we look at or developing economies but mobility and flexibility is a big challenge and then this challenge of technology and access to technology across the world. Men tend to use technology much more than women. And if we are moving into a workforce that relies on technology that means women may not have the right skills. women are also or less in technology creation rules about twenty percent of tech jobs to women. Eighty percent belong men so as creators of these forms of technology that also have disadvantage so left that point. I love that point because there's something in the report that talks about the fact that there would be the nutrition rate the gender issue would go away if more women were actually involved in the creation of technology as opposed to just being users of technology. Can you speak to that a little bit. Yeah absolutely so you know the analogy. I like to make. Is that in some sense. Men and women are running the same race towards this future work right. So there's a reason they're running women running that race with the wheat around their ankles because of all these talked about but there is a prize at the end of that right and that is if women are able to navigate. these transitions. they're going to end up in better paid more productive jobs. In many parts of the world that participation overall in the labor force could increase because remember they aren sectors like healthcare and education that are growing but it is a risk that they're running with that we'd and we need to find a way to move that way. We're gonna talk about that when we come back. We're gonna take a quick break. We'll.

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