Review the employment challenge in the digital era (as well as the entire chapter). Reflect on the various challenges are present in the digital era. Will things get better or more complicated as times goes on? Explain. What are some methods to assimilate new generations into the workforce to think about competitive advantage?

Explanation:

Here are some of the various challenges present in the employment area in the digital era:

Population Ageing: There is an increase in the age of the average workforce employed in various sectors. Countries that have been implementing policies of population control like Japan and several European countries are witnessing a rise in the average age of their current population, thus, the aged group will cease to be a part of any workforce, leading to a rise in production costs and employee costs will increase.

Job Shift: There is an observable increase in the number of jobs in the area of services rather than agriculture and manufacturing based jobs, hence a large number of people are skilling themselves in the area of service-based job, leading to a drop in the workforce in the Agri and manufacturing-based jobs

Technology: In the 21st century, technology has played an important role in redefining jobs, however, it has also increased the level of automation, ceasing the existence of many jobs and putting a huge number of workers out of the workforce. This has led to an unemployment crisis.

Upskilling: Daily, there is an increase in the industry-academia gap and the necessary skills that are required by the industry are missing in various aspects due to the dynamic nature of the industry in the digital era where technological innovations have also led to an increase in the expectation from the employees in the form of upskilling.

Will things get better or more complicated as time goes on?

Determining whether things will become complicated or better with time is dependent upon the nature and the urgency with which the government and the industry overcome the above challenges, but as we can see the general trend the aged population has been on an increase over time and the number of people employed in the workforce has been declining, leading to an increase in the inequality gap and the inflation is increasing.

The situation of things will soon become worse leading to a situation of chaos and crisis in the future if this issue not treated as a serious concern by the authorities.

What are some methods to assimilate new generations into the workforce to think about competitive advantage?

The new generations can be assimilated into the workforce and gain a competitive advantage in the following ways:

Rapid Upskilling: The industry-academia gap should be bridged by rapid upskilling the present workforce and the future workforce who are currently students. This can be achieved in the form of government-sponsored educational programs and skill centers.

Equity Income Distribution: An equitable sense of income distribution in all the sectors will help to prevent a job shift from agriculture and manufacturing sector into the service sector as we are witnessing lately. Thus, the government should provide more incentives to workers employed in the agriculture and manufacturing sector to drive their encouragement and motivation.

If the two points above are followed religiously, and if the policymaking is implemented in the right direction, there will be a competitive advantage for the industry as well as the economy as a whole with things remaining in balance.

answer; depth;