The Future of Work Discussions at Davos 2023
The World Economic Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. The Davos Agenda 2023 places The Future of Work as a pivotal topic for CEO's and leaders from across the globe where the discussion of social vulnerabilities in the context of a new system for work, skills and care consists as one of the five themes. This year’s slogan is “Cooperation in a fragmented world.”
The conversations will focus on the continued COVID-19 pandemic response, the global economic recovery as recession looms in some regions with rising inflation, vital climate action, technological innovation and global cooperation. Below are three topics we’d like to highlight to our readers ahead of the event.
Key Highlights Ahead of Davos 2023
1. Generous Listening
Stability in the workforce has been a challenge across the board recently with trends such as ‘The Great Resignation’, Quiet Quitting’ and ‘Career Cushioning’. It’s no doubt that leaders are struggling to truly listen to employees and understand the extent of discontent amongst the workforce.
This topic of Generous Listening is set to encourage leaders to engage, dedicate an commit to forge genuine connections with employees and colleagues. As the younger generations embed themselves into the workplace, their expectations need to be understood as these differ vastly to what we’ve previously seen. Nowadays with the cost of living crisis and rising inflation, there is a need to be connected to the wellbeing of employees, showing empathy and forging genuine connections which provide a safe space for all to share their inner thoughts which will support leaders to accommodate to needs and wants better.
Author of this piece which features in WEF23 is Founder, Vuslat Doğan Sabancı. She outlines her tips from personal and professional experience in relation to Generous Listening that executives would benefit from reading.
2. Good Work Goals for 2023
Mercer's 2023 Global Talent Trends report indicated that 50% of c-level executives saw helping employees to adapt to new working methods as a top priority for 2023. This topic highlighted for WEF23 uncovers the need for organisations to attract and retain talent using workforce centric operations. The piece also promotes the Good Work Framework which provides goals and approaches for organisations to adopt to remain relevant to present and future employees. Incorporating these ambitious and futuristic aims will set businesses apart in their offering on these five objectives:
Promoting a fair play and social justice – ensuring at least a living wage for all.
Providing flexibility and protection – enabling all workers to benefit from flexibility where possible.
Delivering on health and well-being – safeguard total wellbeing at work.
Driving diversity, equity and inclusion – ensuring the workforce profile reflects the operating market.
Fostering employability and learning culture – providing upskilling and reskilling for the entire workforce.
3. Turn Risk into Resilience
Marsh McLennan will host a range of events at Davos 2023 which unravel topics such as Quiet Quitting and the Meaning of Work where they uncover the symptoms of a changing relationship between workers and employers and how businesses are managing this transition.
Further to this a panel discussion exploring myriad ways Gen Z is impacting and redefining business and society. Other topics of focus will be in relation to Disruptive Innovation and ways to make society and the economy more resilient to the effects of climate change.
In a fast changing world in the midst of crisis on a number of fronts, it’s more important than ever for collaboration and cooperation. We will remain close to the topics presented at the World Economic Forum later in January as this event will support bringing people together from different diverse backgrounds to influence positive change globally. As per the mission of the WEF23, the outcome from the event is to “provide a platform where decision-makers from the public and private sectors can work together to equip workforces with the contemporary skills and lifelong learning necessary to thrive in a fast-changing environment.” Follow us on LinkedIn to keep up to date with key takeaways from Davos 2023.