The nature of work is changing across all industries and around the world. Emerging technologies and the entry of a new generation into the workforce are changing expectations and bringing demands for new work models. Consider some of the ways the workforce is expected to change:
- It is estimated that in five years, 95 percent of customer interactions will be AI-driven.1
- Nearly half (47 percent) of US could be automated in the next 10 years.2
- Over the past five years, freelancers, gig workers, and contractors made up 94 percent of net new job growth.3
- Millennials currently make up almost 50 percent of the work mix and are expected to account for nearly 75 percent of the overall US workforce by 2025.4
- As baby boomers extend productive life through healthy practices, the notion of the "100 year life" has implications for careers extending from 30 years to 50 years.
The health care industry, too, is on the cusp of a major transformation. Health systems and health plans should prepare for a technology-driven future, changing consumer demands, narrower margins, an aging population that is expected to live longer with chronic diseases, and new market disrupters coming on the scene to help solve for these challenges. Besides, new generations of health care workers (millennials and Generation Z) typically have different expectations than previous generations, eschewing traditional career paths and calling for new work models—the gig economy and the rising frequency of virtual work are just two of the indicators of this shift.