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Future of Work and Its Implication on Employee Well-Being in the 4IR Era
Abstract
Capitalist corporations seek ever-new opportunities for trade and gain. As competition intensifies within markets, profit-seeking corporations innovate and diversify their products in an unceasing pursuit of new market niches. The incessant changes and unpredictable nature of capitalism often leads to insecurity regarding job loss. Job insecurity has been empirically proven to have negative effects on individuals and organisations. It associates to reduced job satisfaction and decreased mental health. A longitudinal Swedish study showed an indirect effect of trust on job satisfaction and mental health of employees. The advent of AIs, humanoids, robotics, and digitization present reason for employees to worry about the future of their work. A recent study conducted by the McKinsey Global Institute reports that by 2030, a least 14% of employees globally could need changing their careers as a result of the rapid rate of digitization, robotics, and advancement in artificial intelligence disruptions in the world of work.
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