E-Source Says

The Future of Work in 2023

The Future of Work in 2023

Find a better path this year. Open your eyes to new possibilities, and approach the future with a clear vision. Discover how to take ownership of your career with The Entrepreneur’s Source^®.

Workforce Evolving
Work is evolving as innovation, automation, and new technology reshape the future of work in the United States. As corporations search for ways to boost their bottom line and cut costs, they are shipping more jobs overseas to low-cost destinations such as India, Poland, and the Philippines. American businesses offshored at least 300,000 jobs in 2021, according to Zippia, an online job site. India’s information technology outsourcing industry is forecast to reach $12.47 billion by 2027.

Companies are further trimming their workforce by implementing artificial intelligence, or AI, to automate processes and improve productivity. Facial recognition technology, personalized advertising, and chatbots are becoming the norm. Examples of AI in action are all around us. Our phones rely on facial recognition for security and social media platforms use AI to identify people in photos. Retailers use AI to streamline delivery services with vehicle routing and track consumer spending to enhance inventory.

In a bid to combat rising wages, many companies are implementing contactless services to reduce headcounts. McDonald’s is testing its first primarily automated location in Fort Worth, Texas. The fast-food unit relies on touchscreen ordering and delivers food to customers via a conveyor belt. The number of self-checkout lanes at grocery stores is up 10% over the last five years, and retailers like Wal-Mart, Dollar General, and Kroger are testing self-checkout-only stores.

As companies cut costs to appease shareholders and the executive team, the average American is getting shortchanged. They are working longer hours for less pay and limited job security. Large corporations are casting seasoned workers aside, forcing them to take jobs below their skill set with fewer benefits. Companies are phasing out pension plans and requiring people to rely on the unpredictable stock market to prepare for retirement.

Future Holds Opportunity
Despite the changing landscape of American business, the outlook for your future is bright. But the path to success will be different from older generations. Gone are the days when a person could spend their career climbing the corporate ladder at a single company. The average American will hold 12.4 jobs during their lifetime, according to the U.S. Department of Labor.

Current events are creating a sea change in the United States and fostering entrepreneurship. Following the pandemic outbreak, millions of people were laid off or furloughed. Office closures to comply with safety guidelines forced others to work remotely. Staying close to the home front gave people time to determine if their career was on the right trajectory. During the Great Resignation that followed in 2021, 47.8 million people quit their jobs to find new opportunities with better pay and work-life balance.

Stimulus payments gave people the power to explore new possibilities. Over the past two years, more than 10 million new businesses were started in the U.S., and new business applications hit record levels.

Discover Your Career Revolution
TES is one of the nation’s largest career coaching providers. We use education-based tools to help people discover their Income, Lifestyle, Wealth, and Equity™ goals. Our coaches help people reimagine and reclaim the life of their dreams and prepare for the future.

“Investing in yourself will allow you to navigate the future of work,” said Terry Powell, the visionary founder of TES. “Our coaches hold you accountable to yourself to enable you to reach your maximum potential.”

We help people who are at a crossroads in their careers explore new possibilities. TES coaches provide a safe environment for exploration. They ask thought-provoking questions to challenge your thinking and mindset.

Learn More About Career Coaching
If you are considering a career change, invest in yourself to discover your options, possibilities, and dreams. Chat with one of our coaches to begin your career revolution. To learn more about career coaching, visit www.entrepreneursource.com or check out our guidebook, “Your Career Revolution: Reimagine and Reclaim the Life of Your Dreams.”