The future is coming, whether we want it or not

Yesterday's Globe and Mail had two especially contrasting items in the Report on Business:

• a six-page announcement from CPA Ontario congratulating the new cohort of graduates (news that is sadly lacking on its own website)
• a column in the careers section on the future job paths for non-STEM graduates

As always, I congratulate the new grads and wish them well. However, they may find it worthwhile to dig a big more in the second article. It refers to The Future of Jobs Report 2018 issued by the World Economic Forum, which reveals much more than the Globe column alludes to.

For example, on page 9 it gives risk profiles to certain categories of jobs:

Stable roles	New roles	Redundant roles
Managing Directors and Chief Executives General and Operations Managers* Software and Applications Developers and Analysts* Data Analysts and Scientists* Sales and Marketing Professionals* Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products Human Resources Specialists Financial and Investment Advisers Database and Network Professionals Supply Chain and Logistics Specialists Risk Management Specialists Information Security Analysts* Management and Organization Analysts Electrotechnology Engineers Organizational Development Specialists* Chemical Processing Plant Operators University and Higher Education Teachers Compliance Officers Energy and Petroleum Engineers Robotics Specialists and Engineers Petroleum and Natural Gas Refining Plant Operators	Data Analysts and Scientists* AI and Machine Learning Specialists General and Operations Managers* Big Data Specialists Digital Transformation Specialists Sales and Marketing Professionals* New Technology Specialists Organizational Development Specialists* Software and Applications Developers and Analysts* Information Technology Services Process Automation Specialists Innovation Professionals Information Security Analysts* Ecommerce and Social Media Specialists User Experience and Human-Machine Interaction Designers Training and Development Specialists Robotics Specialists and Engineers People and Culture Specialists Client Information and Customer Service Workers* Service and Solutions Designers Digital Marketing and Strategy Specialists	Data Entry Clerks Accounting, Bookkeeping and Payroll Clerks Administrative and Executive Secretaries Assembly and Factory Workers Client Information and Customer Service Workers* Business Services and Administration Managers Accountants and Auditors Material-Recording and Stock-Keeping Clerks General and Operations Managers* Postal Service Clerks Financial Analysts Cashiers and Ticket Clerks Mechanics and Machinery Repairers Telemarketers Electronics and Telecommunications Installers and Repairers Bank Tellers and Related Clerks Car, Van and Motorcycle Drivers Sales and Purchasing Agents and Brokers Door-To-Door Sales Workers, News and Street Vendors, and Related Workers Statistical, Finance and Insurance Clerks Lawyers

Roles that are marked with an asterisk (*) appear in multiple columns, and their future is industry-dependent. However, the key takeaway I see for my profession is that almost all of its traditional roles are identified as being, or becoming, redundant. That should be disconcerting for everyone, as this means that all traditional career paths for a CPA are now in question.

What types of skillsets will be in demand in the near future? On page 12, there's a table that attempts to identify certain "top 10" lists to consider:

Comparing skills demand (Top 10 areas), 2018 vs 2022
Today, 2018	Trending, 2022	Declining, 2022
Analytical thinking and innovation Complex problem-solving Critical thinking and analysis Active learning and learning strategies Creativity, originality and initiative Attention to detail, trustworthiness Emotional intelligence Reasoning, problem-solving and ideation Leadership and social influence Coordination and time management	Analytical thinking and innovation Active learning and learning strategies Creativity, originality and initiative Technology design and programming Critical thinking and analysis Complex problem-solving Leadership and social influence Emotional intelligence Reasoning, problem-solving and ideation Systems analysis and evaluation	Manual dexterity, endurance and precision Memory, verbal, auditory and spatial abilities Management of financial, material resources Technology installation and maintenance Reading, writing, math and active listening Management of personnel Quality control and safety awareness Coordination and time management Visual, auditory and speech abilities Technology use, monitoring and control

Looking back on past CMA training (and I believe the same holds for current CPA training), we have certainly acquired skills in nine out of the ten trending areas (EQ falling under on-the-job training), while our classical seating in #3, 6 and 10 on the last list is on the wane. That will definitely call for reskilling over and above our traditional CPD, and this report (at page 13) identifies the size of the task that needs to be confronted:

• by 2022, no less than 54% of all employees will require significant reskilling or upskilling
• of that amount, 35% need to undergo additional training of up to six months; 9% for 6-12 months, and 10% will require additional skills training of more than one year!

Are we up to this task here in Canada, given Canadian employers' traditional aversion to training in-house? The WEF report is not encouraging to begin with, as it also states that "those most in need of reskilling and upskilling are least likely to receive such training." If that is a worldwide assessment, I can foresee a large wave of forced retirements coming down the pipeline (as that would be seen to be the cheaper option). At the very least, it will be a contradictory message to the whining our businesses are making now in complaining about not being able to hire candidates with the skills they need.

Stay tuned. It will be really interesting to see what develops.