Indian Journal of Science and Technology

Abstract

The 21st C is characterized by radical technological, economic, and social changes. Full development and diffusion of the earlier century innovations has been reflected in mass production techniques, consumption patterns, and the style of functioning of the government. Improved information has enabled the affordability of technology for the common man. Information technology has broughtin automated knowledge work tools, advanced robotics, and 3Dprinting.It has enabled people to work from home thereby ensuring freedom of choice as to where and how they live and work. Various changes including economic ones are pushing organizations to re-evaluate the way they do business and to evolve alternative approaches to work. Flexible work timings and advanced telecommunication that includes conference calling, video conferencing and on line data transfer are some of the 21st C work practices that obviate the need for physical travel and inter alia, counter factors like steep increase in fuel prices. It is also forecast that the Gen Y generation emphasis on work life balance will strategically impact the workplace in the near future. It is also foreseen that increasingly sophisticated Information Technology tools and IT enabled progressive business processes will lead to production processes that are less wasteful, error free in a much higher degree and in turn deliver products that are more sustainable environmentally. On the other hand, on a more ominous note, the shape of the new things has the potential to seriously impact the already fragile demographic equilibrium of the world, if effective countermeasures are not put in place by the business leaders and policy makers. The demographics of the new workforce, the changes in how people will conduct business along with what that “business” will look like, and the impact technology will have on both will have a major impact on the role of business, the nature of work, the way work is accomplished and the human resources (HR) organization itself. Culturally diverse work forces also will need to be trained to be sensitive to each other’s needs and to work as a team towards fulfilment of organization’s goals.
Keywords: Affordability of Technology, Demographic Equilibrium, Demographics of the New Workforce, Need for Training, Technological Advances