The COVID-19 pandemic is a double-whammy for inequality: The worst-off are hit harder while accelerating economy-wide digitalization further widens the skills gap. This report highlights technology’s increasing impact on the workplace, providing valuable information for policymakers, business leaders, and educational institutions so they can make better decisions about how to prepare workers for the future.
First, the report describes attitudes and perspectives toward remote work and skills training, using a “Future of Work” survey of 1,000 managers and employees by technology consulting firm Infosys. Key findings include: » a broad shift toward remote working and hiring, with a greater focus on inclusion and diversity (however, lower-wage respondents saw fewer opportunities); » net satisfaction with remote work and productivity, notwithstanding higher workloads and the loss of social interactions with colleagues; » high trust in employees during remote work, though with increased surveillance; and » a rise in employee skills training focused on working remotely, which most employees found useful (however, lower-wage employees felt more responsible for training themselves).
Building on these findings, this report makes several recommendations to address rising inequality and disruption, supplemented with insights generated from numerous public events the Milken Institute has convened. These recommendations include: » accelerating regional growth through public investments that broaden access to local sectors with high potential; » financing access to education and skills training, including for underprivileged populations; » strengthening business-education partnerships, including just-in-time learning, agile curricula, and flexible time commitment; and » regular and outcomes-based evaluation of initiatives, to continually identify areas for improvement.
