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Ray Dalio says workplace will never go back to how it was before Covid

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Ray Dalio, Co-Chairman and Co-Chief Investment Officer of Bridgewater, speaks at the Skybridge Capital SALT New York 2021 conference in New York, United States, September 15, 2021.

Brendan McDermid | Reuters

Billionaire investor Ray Dalio believes the workplace will never revert to pre-pandemic conditions, as flexibility and technology have become the main driving forces behind the new world.

“The future of the workplace will likely be characterized by two things – personalization and technology. We’ve been given the gift of being able to rethink what we do,” Dalio said Wednesday at CNBC’s @Work Summit. “I don’t think we’re going to go back to the old world.”

“It will be an erratically different type of work – what is the job? How will technology replace people? How will this be handled? How will the wealth gap be handled … there is going to be a lot, a lot of changes over the next five years, “Dalio added.

The founder of the world’s largest hedge fund, Bridgewater Associates, said his company intentionally reflects on working in person and gives employees the freedom to work remotely. Dalio said flexible working arrangements are a competitive advantage for employers in today’s job market.

“In a tight labor market for this type of talent, the ability to offer flexibility (…) will be an important competitive element,” he said.

The US economy created jobs at a much slower rate than expected in September, while data showed workers left their jobs at a record pace in August. Resignations have reached a new high since December 2000, when 4.3 million workers left their jobs.

“People are leaving the workforce and they are changing the nature of their work. You can see this adaptation,” said Dalio.

The investor said technology and data allow employers to measure worker productivity, which can help companies experimenting with hybrid arrangements after the pandemic.

“You can see if someone is tough and productive. You don’t have to have them in the office. There are so many tools that clearly show how productive people are and that makes them feel good. gives more freedom to be productive this way, ”he said.

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