Labor Market Information in a Flat World

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    Labor Market Information in a Flat World - Presentation Transcript

    1. Labor Market Information in a Flat World Presented by Michele Martin, The Widing Group
    2. In 2005, 500,000 tax returns were processed overseas. In 2005, over 400,000 tax returns were prepared overseas.
    3. Radiologists in other countries are reading your MRI.
    4. Someone in India is taking your order or fixing your problem
    5. You can pay your bills, apply for a loan and do all your banking without ever talking to anyone.
    6. You’ve become your own ticket agent, baggage handler and concierge.
    7. Advances in Computer tech, Biotechnology and Nanotechnology are automating everything.
    8. The Internet links workers and work, 24/7.
    9. Companies can go where the talent is cheap And they do.
    10. There are 150 million people in the entire U.S. workforce. Since 2000, 150 million educated workers have joined the global workforce.
      • In 2005:
      • 3.3 million Chinese graduated from college, 600,000 of them with engineering degrees.
      • 3.1 million Indians graduated, all fluent in English. 350,000 have engineering degrees.
      • 1.3 million Americans graduated, 70,000 with degrees in engineering.
    11. $700 a month provides a solid living for a college-educated call center worker in India. A Chinese manufacturing worker makes $265/month or $3,195/year.
    12. How did we get here?
    13. The Flatteners—Phase I
      • Berlin Wall, MS Windows
      • Netscape
      • Work flow software
    14. The Flatteners—Phase II
      • Open Sourcing
      • Outsourcing
      • Off-Shoring
      • Supply Chaining
      • Information Diving
      • “ The Steroids”
    15. What does this mean for us?
    16. Traditional View of LMI
      • Workplace is reasonably linear, stable and predictable
      • We can predict:
        • What work will be available
        • What skills/training will be required
        • Career paths
      • Pace of change is slow--time to change if necessary
      • Traditional education/training programs will work
    17. Traditional views won’t cut it anymore.
      • Chaotic and unpredictable
      • Decentralized
      • Collaborative
      • Technology-intense
      • Information-rich
      • Entrepreneurial
      Work is . . .
    18. Workers must be . . .
      • Informed
      • Adaptable
      • Literate
      • Highly Skilled
      • Entrepreneurial
    19. Three kinds of jobs . . .
      • Fungible jobs
      • Anchored jobs
      • Value-add Jobs
      • Fungible jobs:
      • Are easily digitized
      • Don’t require face-to-face interaction
      • Rely on “rules”
      • Require minimal interpretation or decision-making
      • Can be partially or completely automated
    20. These jobs can be outsourced Bill/Mortgage processing Travel/ticketing “ Junior” accounting and legal Medical testing/diagnostics Computer programming Medical transcription
    21. Anchored Jobs Must be performed in particular geographic location
    22. Anchored-Tier 1 Low skill/low wage
    23. Anchored—Tier 2 High skill/higher wage
    24. But there can be fungible parts of anchored jobs
      • Radiologists in India are reading X-rays
      • for American patients.
      • McDonald’s is outsourcing drive-thru ordering.
      • Hospitals in India now offer reasonably-priced
      • post-surgical sight-seeing trips.
        • They serve 55,000 foreign patients/year
        • 75% are uninsured and underinsured Americans
    25. Value-Add Jobs
      • Depth/breadth of skill
      • Constant change
      • High levels of interaction, decision-making, creativity
      • Technological proficiency
    26. Traditional Questions
      • Demand?
      • Wages?
      • Working conditions?
      • Preparation?
      • Advancement?
    27. New LMI Questions
      • Less money somewhere else?
      • Could it be automated?
      • How will technology
      • change work requirements in the future?
      • Turbo Tax has replaced your accountant.
      • ATMs and on-line banking have replaced your bank teller.
      • E-ticket check-in has replaced your ticket agent and baggage handling.
      • Automation and “do-it-yourself” tests may make Med Techs obsolete.
      Automation?
    28. Average Global Salaries for Programmers Poland/India/ China $5k-11k Canada/Ireland $23k-34k USA $60k-$80k
      • With the Internet you can be your own lawyer.
      • “ Wireless healthcare” changes how medical professionals interact with patients.
      • Automotive technology—workers must be able to work with computerized shop equipment, electronic components and traditional hand tools.
      • Financial Planners—more focus on empathy, ability to work with people.
      How Does Tech Change the Job?
    29. Career Plans in a Flat World
      • Evaluate career paths for fungibility
      • and potential for automation.
      • Monitor impact of technology.
      • Anticipate & respond to job/skill changes.
      • Prepare for Tier II Anchored or
      • Value-Add jobs.
      • Focus on Life-time Employability.
      Career Plans in a Flat World

    + michelemmartinmichelemmartin, 3 years ago

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