This week, we celebrate Labour Day. which falls on 1 May every year. This is the day we pay tribute to workers who had worked tirelessly to build up this country. My companies employ hundreds of workers and they each play an important role in adding value to the respective businesses. I have them to thank for in my long corporate journey so far.
But as with many other business functions, human resources have undergone rapid transformation over the years. Many companies no longer use the term “Human Resources”, which was popular in the past. Today, terms like “Human Capital” is used, elevating the “humans” in a company from “resource” to “capital”. “Resources” is often associated with being a cost centre, whereas “capital” helps generate returns.
Today, the concept of “workers” is one that is vastly different from back in the day. In the past, job-hopping was an alien concept and lifelong employment, the norm. Today, many employers opt to hire contract staff and the millennials prefer freelance jobs that offer a better work-life balance. In fact, many workers risk being replaced as automation and artificial intelligence start to take root.
But I am still optimistic about the future of the workforce as a whole. Humans are not about to be replaced by robots on a massive scale at the workplace. What is important is for workers to continuously upskill themselves, to adapt, and adhere to good work ethics.
At the end of the day, what employers want are resource which can add value to their organizations. If workers can do this by keeping abreast of the latest market and technological trends and are committed in what they do, they should not have nothing to worry about.