How Work Is Changing | CNBC Marathon

CNBC Marathon explores the evolution of work in America since the covid pandemic.

In August 4.3 million Americans quit their jobs. While some people have left the workforce entirely, job security and better pay are top concerns for others. Dubbed “The Great Resignation”, the exodus of workers has created hiring challenges for companies and left millions of jobs unfilled. More than half of U.S. workers surveyed said they plan to look for a new job in the coming year, according to Bankrate’s August jobseeker survey. Some 56% of respondents said adjustable working hours and remote work were a priority. Working women have faced an additional burden, juggling childcare duties, virtual schooling and their careers. So, what does the realignment of the workforce mean for employees and businesses? And what steps should you take before quitting your job?

“Quiet quitting” is having a moment. The trend of employees choosing to not go above and beyond their jobs in ways that include refusing to answer emails during evenings or weekends, or skipping extra assignments that fall outside their core duties, is catching on, especially among Gen Zers. Last year, the Great Resignation dominated the economic news cycle. Now, during the second half of 2022, it’s the quiet quitting trend that’s gaining momentum at a time when the rate of U.S. productivity is raising some concern. Data on U.S. worker productivity posted its biggest annual drop in the second quarter. So, why is this trend on the rise? Watch the video above to learn whether quiet quitting is hurting the U.S. economy and how it’s being seen as part of the Great Resignation narrative.

Social distancing regulations to combat the coronavirus outbreak are forcing millions of Americans to work remotely. However the trend of working at home has been on the rise of a while, with regular work at home growing 173 percent since 2005 according to Global Workplace Analytics. Global Workplace Analytics found that companies save an average of $11,000 per year per employee who works remotely part-time. While research indicates the best work from home system requires 2-3 days in the office and 2-3 days at home, can employees still be productive during this outbreak? CNBC examines if the U.S. can still be productive while working from home.

From burger-flipping machines to car-building robots—not to mention high-powered software taking on more and more administrative tasks—it seems like hundreds of skills are rapidly becoming obsolete in the U.S. economy. A recent McKinsey study found that AI and Deep Learning could add as much as $3.5 trillion to $5.8 trillion in annual value for companies. The economic shock of the coronavirus pandemic hasn’t helped. In fact, Covid-19 could be accelerating the pace of automation.
CORRECTION: What Coronavirus Means For Automation And The Future Of Jobs misstated Marcus Casey’s title. He’s an associate professor of economics at the University of Illinois at Chicago.
And Clive Wilkinson designed the Googleplex, now he’s helping build workplaces that accommodate the needs of hybrid work.

CNBC Marathon brings together the best of CNBC’s coverage on the new American office.

Chapters:
00:00 Introduction
00:41 The Great Resignation: Why Millions Of Workers Are Quitting (Published October 2021)
12:15 How ‘Quiet Quitting’ Became The Next Phase Of The Great Resignation (Published Sept. 2022)
20:33 What Coronavirus Means For The Future Of Work From Home (Published March 2020)
35:19 What Coronavirus Means For Automation And The Future Of Jobs (Published Sept. 2020)
49:44 How Tech Companies Are Redesigning Offices To Lure Workers Back (Published June 2022)

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