A memorandum, more commonly known as a memo, is a short message or record used for internal communication in a business. Once the primary form of internal written communication, memorandums have declined in use since the introduction of email and other forms of electronic messaging; however, being able to write clear memos certainly can serve you well in writing internal business emails, as they often serve the same purpose.
RE: The future of work
The current memo is devoted to the article The Future of Work by Peter Coy. The article focuses on the changes in routinized and non-routinized jobs in the nearest future. In the beginning, the author provides examples of two employees. The first one is the manager Mark Ryan. His work requires communication and cooperation with people; thus, it is not routinized. Therefore, he should not be afraid of losing it. The second person, computer programmer Sab Maglione, is more vulnerable because machines or cheaper workers in developing countries can replace him at work.
In the article, the author describes the routinized and non-routinized jobs. For example, manufacturing or programming industries are routinized. On the contrary, non-routinized jobs are those that require good recognition or communicative skills. It is impossible to replace non-routinized positions with machines. Moreover, the author claims that demand for routinized jobs is expected to fall. At the same time, non-routinized jobs will become more popular. Therefore, educated employees will be more likely to find work. People with a bachelor's or higher degree have a lower unemployment rate than those who have less than a high school diploma. Consequently, people should study for non-routinized jobs if they want to work in future.
The article refers to several concepts of Introduction to Business. It coordinates with the concepts of supply and demand. The author focuses on the changes in supply and demand for different jobs in the nearest future. He states that the demand for non-routinized jobs will grow, and for routinized jobs, it will fall. As the demand changes, supply will change, too. In fact, the supply of non-routinized jobs is likely to grow. One more business concept used in the article indirectly is the cost of production. Companies replace routinized jobs with machines because decreases the costs. It is cheaper to use machines than to pay wages to workers.
I gained new knowledge from the article. I learnt that the job market changes often. Recently, routinized jobs were highly demanded. In a contemporary work environment, the demand for routinized jobs decreases, and the tendency will continue. I also learnt that most companies prefer the lower costs of production than jobs for new employees. Thus, businesses replace routinized jobs with machines or computers to cut expenses. Therefore, if the employee wants to find employment, he/she should shift to a non-routinized job. From the article, I also learnt about the importance of education. Previously, I thought that education helps only to get a better job with a higher wage. However, the article shows me that education secures future employment. Educated people who perform non-routinized work are more likely to stay at work in the era of machines and computers. Moreover, to get a non-routinized job, it is important to develop recognition and communicative skills.
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In conclusion, the article was interesting and useful for me. I have learnt about the future of the job market, and the fact that routinized jobs will have less demand. If it is possible to replace an employee with a computer or machine and cut costs, a firm will choose the option. Therefore, educated people who can perform non-routinized work will have job security. However, it is not necessary to have a high degree of education to be able to find work in the future. If a person has good recognition or communicative skills, he/she will be able to perform non-routinized work. Therefore, it is important to develop interpersonal skills now to be secure at a workplace in the future.
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